Greek IT firm sees profits jump

Information technology company Open Technology Services saw its turnover rise 21.65% to €7.3 million and operating profit (EBITDA) 54% to €960,000 in 2022. Net profit rose 57.5% to €562,200. 

Management noted that the company has zero debt and cash reserves of €3.2 million. 

Management also noted that turnover in the first post-pandemic year rose despite delays in the implementation of big projects funded by the 2014-20 EU Partnership Agreements and the bloc’s Recovery Fund. 

OTS also raised €2.5 million in share capital to further boost its liquidity.