Helsinki, June 17th, 2025 - Epassi maintained strong growth in 2024 and early 2025, fueled by both acquisitions and ongoing organic expansion. Through acquisitions, the company has expanded into five new markets while significantly strengthening its product and service portfolio.
2024 highlights
- Net revenue grew to €126.3 million (€48.2 million in 2023).
- Adjusted EBITDAC (before capitalizations) increased to €53.9 million (€18.7 million in 2023).
- Organic growth remained strong across all markets.
- Four acquisitions complemented growth, expanding operations into Germany and the Netherlands.
- As international expansion continued, Epassi adopted IFRS accounting standards: revenue is now reported as net revenue instead of gross revenue.
2025 Outlook
- In 2025, net revenue is expected to exceed €200 million.
- Epassi has expanded through acquisitions into Spain, Portugal and France.
- These acquisitions broaden the customer base and further strengthen the product and service offering.
Net revenue development 2019–2024
| |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
| Net revenue, m€ |
8,3 |
13,2 |
23,2 |
31,6 |
48,2 |
126,3 |