In : Uncategorized3 Sep 2012
With strong first-half performances, Econocom confirms its annual guidance.
This realignment of the group’s core business, combined with the synergies resulting from the integration of ECS and the controlling of operating costs, caused recurring operating profit to jump 39% from €18.6 million in H1 2011 to €26 million in H1 2012 (1recurring operating profit before amortisation of the ECS customer portfolio – €1 M in H1).
Net profit, group share, increased fivefold to stand at €13.7 M (€2.7 M in H1 2011), thanks to a significant reduction of financial expenses and integration costs.
The slight drop in consolidated revenue (€736.9 million compared with €763.7 million in H1 2011) was due chiefly to the postponing of certain contracts and the relinquishment of non-strategic activities.
At the Board Meeting on 30 August, Jean-Louis Bouchard, Chairman of Econocom Group, confirmed that Econocom is continuing its expansion: « In just six months, we have achieved revenue and recurring operating profit – despite the highly seasonal nature of business – very similar to our full-year results in 2008, the first year of our Horizon 2012 strategic plan, in spite of the difficult economic and financial environment. »
- 2012 half-year results: the official press release
Econocom is currently a European provider of services for integrating and financing digital solutions. With its complementary areas of expertise (distribution , leasing , services and telecoms), Econocom assists businesses in transforming their IT systems and managing digital projects. Operating in 18 countries, Econocom Group employs 3,700 people and posted revenue of €1,538 million.
For further information : www.econocom.com