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• Press Release

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Cosmos Business Systems: 77.21% Increase in Profits and 47.67% Increase in Turnover for 2023

With a significant increase in key figures (77.21% (€61.9 million) in sales and 47.67% (€986K) in pre-tax profits and 53.5% (€4.3 million) in EBITA), the 36th fiscal year of 2023 closed for Cosmos Business Systems AEBE, which indicates its momentum and its commitment to serving customers with cutting-edge technology solutions.

At the Group level for 2023, the corresponding figures are €66 million in Sales and €1.1 million in pre-tax profits.

For 2024, which is also moving upwards, the parent company expects revenues of €71 million and €75 million at the group level. The number of employees increased in 2024 to 300 people from 276 on 31.12.2023.

The President and CEO of Cosmos Group, Mr. Dimitris Dafnis, will give a press conference on October 31, 2024 in Athens and in November in Cyprus, where he will analyze the results and prospects of the company and the industry and will comment on the development of major IT projects in the two countries. At the same time, he will proceed to announce new activities that lead the group into the next period of growth.

Key Financial Data:

• Turnover: The company recorded a turnover of 61,840,348.18 euros, an increase of 47.67% compared to the previous year of 41,876,243.97 euros in 2022. This increase reflects the increased demand for services and products, as well as the successful expansion of the client base in the Private and Public Sector.
• Profit before Tax: Profit before tax amounted to 986,853.41 euros, an increase of 77.21% compared to 556,878.91 euros in 2022. This significant improvement is attributed to effective cost management and the increase in the efficiency of our operations.
• EBITDA: Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to 4,269,053.98 euros, marking an increase of 43.40% compared to 2022.