20.11% increase in turnover of Epsilon Net for 2017

The growing path of Epsilon Net is reflected in the 2017 financial figures, which appears to have increased impressively.

Turnover of the Epsilon Net Group for the 2017 fiscal year amounted to €14,965,530 compared to €12,460,20 for 2016, recording an increase of 20.11% and confirming the size of the company, which makes it the largest business software company in Greece in terms of private sector projects. This change demonstrates the dynamic rise of installations regarding customers of ERP & Retail apps, Mobile versions of PYLON Hotel and PYLON Restaurant apps, as well as Payroll & HR apps.

Indicative installations in major multinational brands of each product series are mentioned below:

• ERP – Commercial and Mobile PYLON Series Applications:
KPMG SA, Grant Thornton SA, Lenovo Technology BV, Hager Hellas

• Payroll & HR Applications:
IKEA, FRAPORT, Intersport, Apivita, Athens Concert Hall, McCann Erickson

At the same time, profits after taxes for the year 2017 increased to €687,550 compared to €115,590 for 2016. An increase of 69.3% was recorded in the profits before taxes, financial-investment results and depreciation (EBITDA) for the year 2017, which amounted to € 2.3 million, compared to € 1.3 million in 2016

It is noted that the company’s management forecasts that the turnover will also show strong growth rates within the next three-year period (2018-2020). The implementation of the Epsilon Net Group strategy is based on the following axes:

• Raise market share of Business Solutions in small, medium and large businesses (ERP, Commercial apps, CRM, Mobile Applications, and Vertical Markets applications).

• Enhanced collaboration with Vodafone in Epsilon Net Books Management Cloud apps.

• Further penetration of Payroll & HRM apps into businesses

• Enhancement of the Group’s presence in the accounting firms & freelance accountants market with new apps, specialized services and new, next generation solutions that are pioneering in the Greek market, such as Digital Accounting, Epsilon Cloud and Accountants CRM.

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