{"id":837,"date":"2023-10-19T18:58:08","date_gmt":"2023-10-19T16:58:08","guid":{"rendered":"https:\/\/onelink-dev.econocom.com\/italy\/?p=837"},"modified":"2023-10-19T18:58:08","modified_gmt":"2023-10-19T16:58:08","slug":"slight-increase-in-9-month-2023-revenue-driven-by-performance-in-services-and-resilience-in-tmf","status":"publish","type":"post","link":"https:\/\/onelink-dev.econocom.com\/italy\/2023\/10\/19\/slight-increase-in-9-month-2023-revenue-driven-by-performance-in-services-and-resilience-in-tmf\/","title":{"rendered":"Slight increase in 9-month 2023 revenue driven by performance in Services and resilience in TMF"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts\/837?print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/onelink-dev.econocom.com\/italy\/wp-content\/plugins\/pdf-print\/images\/pdf.png\" alt=\"image_pdf\" title=\"View PDF\" \/><\/a><a href=\"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts\/837?print=print\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_blank\"><img decoding=\"async\" src=\"https:\/\/onelink-dev.econocom.com\/italy\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><\/a><\/div><p><span style=\"font-family: arial\"><strong><span style=\"color: #3e0d81;font-size: 18px\">In a deteriorated economic context, Econocom showed good resilience and posted revenue at the end of September 2023 of 1,926 million euros, up<sup>1<\/sup> 0.9% (down 2.0% on an organic basis<sup>2<\/sup>) driven by the Services business but impacted by a declining market for Products &amp; Solutions.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: arial;color: #000000\">The following developments were achieved during the first nine months of 2023:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial;color: #000000\"><span style=\"font-family: arial;color: #000000\">Products &amp; Solutions (P&amp;S) revenue amounted to \u20ac862 million, representing limited growth<sup>1<\/sup> of 0.1%. Business continued to benefit from the successful integration of SEMIC in Spain and LYDIS in the Netherlands, but posted an organic<sup>2<\/sup> decline of 5.1% after strong growth during the equivalent period in 2022. Indeed, the current market environment, marked in particular by persistent component price inflation and a steady rise in interest rates, is less favourable than last year, causing companies to postpone their investment decisions. Nevertheless, Econocom held up better than the rest of its benchmark<sup>3<\/sup>, mainly due to its cross-divisional combined offerings.<\/span><\/span><\/li>\n<li><span style=\"font-family: arial;color: #000000\"><span style=\"font-family: arial;color: #000000\">Technology Management &amp; Financing (TMF) revenue edged up<sup>1<\/sup>3% to \u20ac689 million (down 1.0% on an organic basis<sup>2<\/sup>). Since the beginning of the year, TMF has managed to match the level of almost all of the major revenue-generating contracts recorded in H1 2022. Econocom expects to return to stronger growth in the fourth quarter, traditionally a high seasonal peak.<\/span><\/span><\/li>\n<li><span style=\"font-family: arial;color: #000000\">In line with the second quarter, Services maintained a positive growth trajectory (total<sup>1<\/sup> and organic<sup>2<\/sup>), up 3.9% to \u20ac374 million driven by buoyancy on markets outside France.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-family: arial;color: #000000\">End-of-year outlook<\/span><\/strong><\/p>\n<p><span style=\"font-family: arial;color: #000000\">Given the level of growth at the end of September, the Group estimates that its 2023 revenue growth will be positive but below the 5% target, despite an expected fourth quarter increase in revenue compared to 2022.<\/span><\/p>\n<p><span style=\"font-family: arial;color: #000000\">Thanks to an active policy of preserving margins and optimizing overheads, the Group nevertheless expects net income in 2023 to be of the same order of magnitude as in 2022.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-family: arial;color: #000000\">2024-2028 Strategic Plan<\/span><\/strong><\/p>\n<p><span style=\"font-family: arial;color: #000000\">Econocom will present its strategic plan to the financial community on 16 November in Brussels during a dedicated Capital Markets Day.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-family: arial;color: #000000\">Next publication: annual revenue 2023<\/span><\/strong><\/p>\n<p><span style=\"font-family: arial;color: #000000\">Econocom will post its 2024 financial information publication schedule on the company website by the end of the year.<\/span><\/p>\n<p><span style=\"font-family: arial;color: #000000\"><sup>\u00a0<\/sup><\/span><\/p>\n<p><span style=\"font-family: arial;color: #3e0d81\">Read all about our half-year results<strong> in the press release (in the Resources section of this page).<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: arial;color: #000000\"><sup>1 At constant standards<\/sup><\/span><\/p>\n<p><span style=\"font-family: arial;color: #000000\"><sup>2 At constant standards and scope <\/sup><\/span><\/p>\n<p><span style=\"font-family: arial;color: #000000\"><sup>3 The B2B IT distribution market has declined 15% on average according to several benchmark studies.<\/sup><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a deteriorated economic context, Econocom showed good resilience and posted revenue at the end of September 2023 of 1,926 million euros, up1 0.9% (down 2.0% on an organic basis2) driven by the Services business but impacted by a declining market for Products &amp; Solutions. &nbsp; The following developments were achieved during the first nine [&hellip;]<\/p>\n","protected":false},"author":11837,"featured_media":838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group"],"acf":[],"_links":{"self":[{"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts\/837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/users\/11837"}],"replies":[{"embeddable":true,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/comments?post=837"}],"version-history":[{"count":1,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts\/837\/revisions"}],"predecessor-version":[{"id":840,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/posts\/837\/revisions\/840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/media\/838"}],"wp:attachment":[{"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/media?parent=837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/categories?post=837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onelink-dev.econocom.com\/italy\/wp-json\/wp\/v2\/tags?post=837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}