Nine months of this year ended for EpsilonNet with an increase in size. The IT company increased its consolidated turnover by 60%, to 45.7 million euros, by 75.1%, to 13.7 million euros in earnings before interest, taxes and depreciation (Ebitda) and by 92.1 % as a percentage, up to 10.6 million euros, profit before tax.

During the third quarter, the listed company increased its turnover by 39.4% to around €15m, its Ebitda by 82% to around €3m and its net income before tax by 270% to around €2m. According to EpsilonNet management, the gain in size is due to two factors. In organic growth, this represents 55% of the total nine-month revenue growth. And in facilitating the sales and profitability of targeted acquisitions that EpsilonNet has made in recent years.

Turnover increased by 60% compared to 2021 – by 10.6 million profit before tax.

For example, the third quarter data includes for the first time the results of Hotel Availabilities and BookOnLineNow (from 01/08/2022 to 09/30/2022) and HotelonCloud for just one month (from 08/09/2022). /2022 to 30.09.2022). With recent acquisitions, the group’s active customers have exceeded 125,000, and the functional integration of business units and the integration of new subsidiaries have helped achieve economies of scale and increase net income annually.

EpsilonNet estimates that this year will end with a 50% increase in annual revenue and more than 30% increase in operating profit compared to 2021.

In a recent memorandum of understanding signed with the National Bank, EpsilonNet notes that the rate (to be completed subject to certain conditions) from the bank is initially 7.5% and another 7.5% after three years – a rate that could reach a total of 20 % – this will expand the company’s strategy of “all in one solution”. And this is due to the combination of software IT systems for business and e-commerce and NBG banking technology systems. This particular transaction will create a technology ecosystem that supports the provision of end-to-end services to businesses.