Epsilon Net sold to Atlantic Capital, mandatory public offering coming

(upd) Its share was suspended from trading Epsilon Netafter the publication of bankingnews.gr that it is headed for a change of ownership.
According to BN information, an agreement has already been reached with the main shareholders of the company for the purchase of the main shareholder’s percentage by the fund Atlantic Capital.
According to the same information, the transfer of the main shareholder’s percentage will be followed by a public proposal from the fund for the acquisition of all the company’s shares.
The price could not be confirmed with the information stating that it is specified in levels that exceed 11 euros per share.
It is worth noting that Altantic Capital is a portfolio that invests in IT and technological innovation companies.
A typical example is Port Atlantic, which is a Portuguese company that operates in tax advisory and financial consultancy simulating with Epslion Net.
It has not been made clear what will happen with the agreement that the Greek listed company has concluded with the National Bank, which also owns a share position in the company, namely a 7.5% percentage which it has acquired for 7.49 euros per share. It is obvious that even if the national team leaves, it will record large capital gains.
However, in the 2023 financial statements, Epsilon Net states that it remains oriented towards cooperation with the Greek National in order to reach the goal of 150 million euros in revenue in 2025.
THE turnover of the group of Epsilon Net in the fiscal year 2023 amounted to 93.23 million euros against 75.11 million euros in 2022, marking an increase of 24.13%. Earnings before tax came in at €27.16m, up from €15.72m a year earlier, while 2023 earnings before interest, tax, depreciation and amortization (EBITDA) stood at €29.17m from 19 .35 million euros in 2022, increased by 50.74%.
At the parent level, the operations’ Circle in 2023 it amounted to 33.27 million euros compared to 28.70 million euros in the previous year, marking an increase of 15.89%, with pre-tax profits amounting to 17.48 million euros compared to 9.77 million euros in 2022.
The profits before interest, taxes and depreciation (EBITDA) formed in 2023 at 15.39 million euros against 10.57 million euros in 2022, marking an increase of 45.63%.

Nikos Karoutzos
[email protected]
www.bankingnews.gr