Greek tech companies were the big winners of the country's decade of economic crisis, scoring profits for those who believed in them: an investor that placed 1,000 euros in shares in the industry in 2010, would be in possession of assets worth more than 4,000 euros at the end of the first half of 2020, as their capitalization jumped from 105 to 417.09 million euros, an increase of 297.2 percent.
This outstanding performance is largely due to the sector's biggest player, Quest, as its capitalization increased in the decade from 54.5 to 267.3 million euros, ie almost fivefold.
According to data gathered by HELEX analysts, over a decade and up until the end of the first half of 2020, the following appears:
- The capitalization of the 10 companies that make up the bourse's technology sector rose to 417 million euros in the first half of 2020, an increase rate of 297 percent compared to 2010.
- The largest increase in capitalization in the decade was from Epsilon Net (+885 percent due to the prospect of its introduction to the Main Market, which was completed this week), Profile (+544 percent due to the increase of its spread through placements), Quest (+390 percent, which significantly improved its financial results in the decade and is the largest capitalized company in the industry) and Entersoft (+200 percent due to its prospects and entry in the Main Market ).
- Trading activity in the sector increased in 2019 (value of transactions) by 135 percent and the volume of transactions by 22 percent compared with 2010. The increase in trading activity continues at the same rate as in 2020 according to first-half data.
- The lion's share of trading activity for the decade relates to Quest (42 percent of the industry's transaction value), Profile (26 percent), ILIDA (11 percent) and QUALITY & RELIABILITY (10 percent)
- An increase in all key performances in the sector from 2010 to 2019: Sales +58 percent, EBITDA +264 percent, Earnings Before Taxes +920 percent, Assets +18 percent, Operating flows +14 percent, cash reserves +143 percent, Employees +46 percent.
- The debt-equity ratio stood at 0.34 (34.6 percent) in 2019, double compared to 2010, due to the need for high working capital and investment through borrowing.
From the end of 2018 until the end of June 2020, an increase of the capitalization to 417 million euros, +83.5 percent, has been recorded. The highest percentage increase in capitalization during this period was with Profile (+198 percent due to the increase of its spread through placements), Entersoft (+163 percent due to the prospect and its introduction in the Main Market) and Epsilon Net (+131 percent due to the prospect of its introduction in the Main Market).
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