Strong business momentum driven by Products & Solutions and Technology Management & Financing activities
The Econocom Group generated revenue of €1,826 million for the first nine months of 2022, representing significant organic growth (+9.5%) compared to the same period last year. Including year-on-year changes in consolidation scope, total revenue growth comes to 14.2%.
This performance is in line with the trend observed since the beginning of the financial year. It reflects the commercial effectiveness of the measures that have been implemented for several years to strengthen the presence and synergies between the Group’s three business lines in its strategic regions and develop innovative offers, particularly in the field of digital responsibility.
Over the first nine months of 2022, the Group’s activities experienced the following developments:
• The revenue of Products & Solutions totalled €759 million, representing organic growth of 15.8%. This business continued to grow at a sustained pace, driven by all regions, and a progressive reduction in its backlog.
• Technology Management & Financing (TMF) posted revenue of €706 million, representing organic growth of 11.4%. After a strong first half, this business continued its growth trajectory in Q3 2022, bolstered by the strengthening of the sales force launched in 2021. Econocom also continued to roll out agile and eco-friendly financing solutions by integrating the offers of its latest acquisition, SOFI Groupe.
• The revenue of the Services division amounted to €360 million, representing an organic decrease of 4.5%, mainly due to the strategy of not renewing certain low-margin contracts. In Q4, the group anticipates a reversal of the trend linked to the ramp-up of outsourcing contracts signed in the previous quarters.
Outlook
In light of the sustained level of business observed over the first nine months of the year, Econocom is confident in its ability to achieve an organic growth of over 5% by the end of 2022.
Next publication: annual revenue 2022
Econocom will post its 2023 financial information publication schedule on the company website by the end of the year.