At a press conference for media representatives, the Chairman and CEO of the Cosmos Business Systems Group, Mr. Dimitris Dafnis, presented the results for the first half of 2025, the Group’s strategic investments, and its vision for digital transformation in Greece and Cyprus. At the same time, he put forward realistic proposals for accelerating and ensuring the sustainability of IT projects in the public and private sectors.
Financial Data & Growth Potential
Regarding the Group’s overall performance and positioning, Mr. Dafnis stated that “… Greece and Cyprus have seen significant sector-specific economic growth, which has contributed decisively to the increase in revenue and profits. This upward trend is expected to continue, under certain conditions, into the next period through 2027, at least, due to the government’s strategic choice to support the country’s digital transformation, which, however, requires a package of interventions, as we are now in the final stretch…” as he characteristically stated.
New Projects Awarded to the Group in the First Half of 2025
The Cosmos Business Systems Group has achieved significant success in public and private tenders, securing new contracts with a total value of over €70 million:
These projects reinforce the Group’s position as a highly reliable technology provider and generate steady recurring business across all sectors.
Investments
In the area of new investments, Cosmos has invested and continues to invest in the following sectors as part of its investment program:
CoRe AI, a product of Cosmos’ subsidiary NovelCosmos, is already being prepared for deployment in public and private sectors, offering:
Leading Position in Cyprus
CBS IT Systems Cyprus is establishing itself as a leader in providing ICT and cybersecurity services to the public and education sectors, thereby strengthening the Cypriot economy and its technological ecosystem. The key flagship projects of the first half of the year were the 3-year contract with the Cyprus Telecommunications Authority (CYTA) for Cisco Meraki to provide equipment and managed services nationwide, IT and Cyber Security projects at all public universities in the country for the next 3+ years, and projects in the Cypriot banking sector, which is experiencing significant growth.
Challenges in the Digital Projects Market
In his remarks, Mr. Dafnis highlighted a number of critical challenges that affect the success and implementation of ICT projects:
At the same time, he presented specific proposals to address these issues, such as the establishment of fast-track mechanisms, assessing readiness by organization, standardizing technical specifications, creating a National Register of ICT Partners, and providing for funding schemes to continue projects after the RRF expires.
Strategic Vital Space & Goals by 2030
Cosmos placed particular emphasis on defining its vital space and stated that it will strive in the coming period to have:
According to Mr. Dimitris Dafnis, “ Our commitment is not only technological—it is also strategic: to ensure active participation in the critical projects of the next five years, to strengthen our position in the decision-making ecosystem, and to provide solutions that generate real value for citizens, businesses, and government.”
What’s Coming in the Second Half of 2025
