from ECONOCOM GROUP (EBR:ECONB)
Continued growth in Q3 2024
press release
REGULATED INFORMATION
Brussels, 21 October 2024
Continued growth in Q3 2024
Econocom reported growth, with revenue of €1,941 million, up 4.0% for the first nine months of the year (compared with a 3.0% increase in H1 2024), driven by the TMF business.
For the first nine months of 2024, the Group's businesses reported the following performances:
- Technology Management & Financing (TMF): revenue totalled €721 million, representing total growth of 9.7%, reaping the benefits of business investments made in the past few half-years.
- Products & Solutions (P&S): standing at €861 million, revenue was flat compared with Q3 2023, amid bleak market conditions and a drop in public contracts in France.
- Services: revenue amounted to €359 million, up 2.9% compared with a 1.2% rise in H1 2024.
End-of-year outlook
Econocom maintains its 2024 guidance (revenue growth of between 3 and 5%), despite difficult conditions in the IT distribution market, particularly in France.
Next publication: 2024 full-year results on Thursday 13 February 2025 after close of trading
Econocom will post its 2025 financial information publication schedule on the company website by the end of the year.
ABOUT ECONOCOM
The Econocom group, which was founded 50 years ago, is a pioneer in support for the digital transformation of firms. Its solutions focus on developing and transforming the workplace, infrastructure, audiovisual technology and digital signage. These solutions cover the full range of expert responsibilities needed to carry out digital projects, from the design phase and guidance in choosing a solution to equipment roll-out and managed services. This includes equipment purchasing and leasing, equipment customization and equipment-related services, as well as the refurbishing of devices at the end of their lifespan.
Present in 16 countries and with more than 8,800 employees, Econocom reported revenue of €2,681 billion in 2023. The group is listed on Euronext in Brussels on the Tech Leaders, Bel Small and Family Business indices.
FOR MORE INFORMATION
Investor and shareholder relations: philippe.renauld@econocom.com
Financial communications: groupeeconocom@havas.com
Estelle Bleuze: +33 6 73 97 94 17 - Louis Tilquin: +33 6 02 15 67 69
Appendix: Reconciliation with first 9 months 2023 financial data published in the press release dated 19 October 2023.
“First 9 months 2023 reported” corresponds to revenue as presented in the 19 October 2023 press release.
“First 9 months 2023 restated” corresponds to revenue for the first nine months of 2023 taking into account changes in discontinued operations as defined by IFRS 5 and changes in accounting policies. It serves as the basis for calculating total growth rates.
“First 9 months 2023 pro forma” corresponds to revenue for the first nine months of 2023 restated and adjusted for changes in exchange rates and consolidation scope (acquisitions and disposals). It serves as the basis for calculating organic growth rates.
| Revenue (€m) | Total Group | TMF | P&S | Services |
| First 9 months 2023 reported | 1,925.5 | 689.0 | 862.2 | 374.3 |
| Deconsolidation of discontinued activities and other adjustments for comparability purposes | -58.1 | -32.3 | -0.4 | -25.4 |
| First 9 months 2023 restated | 1,867.3 | 656.7 | 861.7 | 348.9 |
| Forex impact | 1.4 | 0.8 | 0.7 | - |
| Change in consolidation scope (acquisitions) | 0.4 | 0.4 | - | - |
| First 9 months 2023 pro forma | 1,869.2 | 657.8 | 862.4 | 348.9 |
| First 9 months 2024 reported | 1,941.1 | 720.6 | 861.4 | 359.1 |
| Total growth | +4.0% | +9.7% | +0.0% | +2.9% |
| Organic growth | +3.9% | +9.5% | -0.1% | +2.9% |