Revenue at €2,744 million, increasing1 by 3.6%, fully organic2, in line with annual guidance.
Operating margin of €110.4 million, i.e. profitability of 4.0%.
Consolidated net profit of €37.7 million, i.e. earnings per share of €0.220, affected by the rise of non-recurring items arising from the group’s transformation.
A substantial reduction in net financial debt down to €96 million.
Implementation of the sales force recruitment plan and relaunch of the acquisition plan with the acquisition of bb-net, Germany’s leading player in refurbished IT, in January 2025
Key figures
Jean-Louis Bouchard, Chairman and Founder of the Econocom group, said: “2024 was a milestone in the history of Econocom, with the completion of the first year of the ‘One Econocom’ plan and Angel Benguigui’s appointment as CEO. His leadership and in-depth knowledge of the Group make him ideally placed to oversee this new phase of reform and development.”
Angel Benguigui, CEO of Econocom Group, added: “I took over as head of the Group in 2024 with great enthusiasm and strong commitment. The year ended with strong results as a result of the major transition we have begun. Ever-advancing technologies lead us to make investments that are paramount for the transformation of our business lines and to maintain our competitive edge going forward.”
First year of the One Econocom strategic plan
Econocom reached its annual growth guidance, thus confirming the relevance of the transition initiated by the Group.
To support its future growth, Econocom launched a plan to strengthen its sales forces, resulting in the recruitment of over 60 talents and training of the staff. In addition, the Group strengthened the synergies between its business lines, solutions and geographical areas, developing new growth drivers, including the launch of Gather, its new European brand targeting the audiovisual, unified communications and information market.
In addition to the disposal of Les Abeilles to Boluda Group in June 2024, Econocom expanded its presence in Germany in January 2025 when it acquired an 80% stake in bb-net, the market leader in IT refurbishment based in Schweinfurt, from its founder Michael Bleicher and from its CEO Marco Kuhn. This strategic transaction has consolidated the group’s presence in the circular economy in Europe. In 2024, bb-net posted revenue of c. €17 million and employs c. fifty people. The company has top-rate refurbishing capabilities, enabling it to sell two-thirds of its equipment under the TecXL brand to IT distributors. This acquisition is in line with the objectives announced as part of the One Econocom strategic plan, including its demanding financial and non-financial targets set by the Group.
Rise in revenue and solid operating margin2
In 2024 the Econocom group posted revenue of €2,744 million, a fully organic increase[1] of 3.6% compared to the 2023 restated revenue. Despite a volatile technology industry, organic growth in revenue in 2024 increased substantially compared with 1.2% in 2023, thereby proving the relevance of the Group’s diversified business model, which ensures a good balance of its three activities.
Over the period, trends in continued activities were as follows:
Products & Solutions (P&S) revenue totalled €1,205 million, up 0.5%. This market returned to a positive trend, reflecting its performance in H1 2024, driven by a more favourable trend in the European technology distribution market. P&S’s operating margin[2] stood at €39.3 million, i.e. a profitability of 3.3%.
Revenue for Technology Management & Financing (TMF) came to €1,048 million, a substantial increase of 7.7%. This solid performance reflects the quality and attractiveness of the group’s flexible, bespoke financing offers and gathers the momentum of the general shift from ownership to use. TMF’s operating margin2 totalled €46 million, a profitability rate of 4.4%.
Services, meanwhile, reported revenue of €491 million, up1 3.1%. The profitability rate for the year was 5.1% with an operating margin2 of €25 million.
As the first year of the One Econocom plan, 2024 was a transition year, showing significant operational progress both in terms of increased synergies between business lines and countries and substantial investments in sales teams. In total, these initiatives, which pave the way for the group’s future performance, resulted in operating margin2 of €110.4 million compared to €114.5 million in 2023 restated.
Profit from continuing operations reached €38.4 million compared with €58.2 million in 2023 restated, after:
other operating income and expenses of -€19.6 million, related to exit costs and impairment losses
financial income of -€20.2 million, compared to -€19.6 million in 2023 restated, and
tax expense of -€29.5 million, compared to -€25.8 million in 2023 restated.
Restated for discontinued activities to the amount of €-0.7 million, consolidated net profit amounts to €37.7 million.
A sharp reduction in net financial debt
Net financial debt3 decreased substantially, standing at €96 million at 31 December 2024, compared to €181 million at 31 December 2023, representing 20% of shareholders’ equity and 0.65 times 2024 EBITDA.
Econocom benefits from a strengthened financial position, due to divestments made in 2024 in accordance with the targets of the One Econocom plan.
Econocom reaffirms its CSR commitments and decarbonation plan
The Econocom group applies a structured and ambitious policy in the field of social and environmental responsibility. During this transition year, the group obtained Science Based Targets (SBTi) validation for its initiatives, which is a testimony to the ambition and relevance of its decarbonation approach. To that end, the group has set itself some specific, measurable targets: to reduce its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 61.4% by 2028 and increase the proportion of renewable electricity from 5% in 2018 to 92% by 2028. Econocom is extending its commitment to its value chain, by ensuring that 100% of its suppliers have targets validated by SBTi by 2028, thus showing the systemic dimension of its environmental responsibility.
The group was also once again awarded the Ecovadis Gold Medal with a score of 74/100, up 4 points on 2023, placing Econocom in the Top 5% companies in the world in terms of CSR performance. Its plan to achieve the Platinum-level Sustainability Rating by 2028 reflects its commitment to continuous improvement and progress.
Lastly, the launch of "Impact", a dedicated CSR digital media, in the first quarter of 2024 is further proof of the group’s intention to ensure greater transparency and communicate more to all its internal and external stakeholders on its CSR commitments. Addressing the requirements of the CSRD directive and the increasing importance of extra-financial indicators, this platform promotes Econocom’s progress and achievements in this area.
This bold strategy perfectly fits with the One Econocom plan, which focus on impact as the heart of the group’s strategic vision, above and beyond mere basic requirements.
Shareholder remuneration
The Board of Directors will propose at the next General Meeting to repay shareholders €0.10 per share from the share premium. Based on the average closing share price over the last 20 days, this represents a yield of 5.6%.
Total planned pay-outs in July 2025 would accordingly amount to € 16.7 million4, or 44% of the 2024 net profit.
Outlook for 2025
In a mixed economic climate and evolving technology market, Econocom confirms its profitable growth ambitions.
The Group expects 2025 growth to be higher than 2024’s.
Next publication: Q1 2025 revenue on Thursday 17 April 2025 after close of trading