Organic revenue growth of 4.7%1 to €614 million, driven by strong momentum in Products & Solutions
Econocom Group generated revenue of €614 million for the first quarter of 2021, up1 4.7% compared with the first quarter of the previous year.
In line with the improvement observed in the fourth quarter of 2020, and despite the persisting effects of the pandemic early in the year, the return to growth in the first quarter of 2021 bears witness to the resilience of Econocom's business model and backs up the assumption of a recovery in all Group's businesses in 2021.
Q1 2021 sustained revenue growth breaks down as follows:
Digital Services and Solutions (DSS, comprising the Products & Solutions and Services segments) recorded robust growth1 of 8.3% to €439 million. This excellent performance amplified the upswing already observed in the fourth quarter of 2020. In particular, Q1 2021 Products & Solutions revenue rose sharply1 by 15.1% to €295 million, driven by growth in demand for equipment throughout Europe and the full contribution of satellites. Services revenue for the first quarter of 2021 was €143 million, down slightly from €148 million last year.
The Technology Management & Financing (TMF) segment generated revenue of €176 million in the first quarter of 2021, down1 just 3.5%. In this segment, Econocom continues to develop new areas of growth, both in France and internationally, with a clearly growing order backlog.
Outlook: return to sustainable growth cycle
On the strength of this positive first quarter, Econocom confirms its growth target for 2021 and anticipates that the year will mark the start of a new growth cycle, both organically and through targeted acquisitions.
Next publication: H1 2021 revenue release, 22 July 2021 after close of trading.
1 On a like-for-like basis at constant perimeter and for continuing activities
A B O U T E C O N O C O M
F O R F U R T H E R I N F O R M A T I O N
As a digital general contractor, Econocom conceives, finances,
www.econocom.com
and facilitates the digital transformation of large firms and public
Follow us on Twitter
organisations. With 45 years' experience, it is the only market player
Investor and shareholder relations contact:
offering versatile expertise through a combination of project
etienne.jacquet@econocom.com
financing, equipment distribution and digital services. The group is
Agency contact: info@capvalue.fr
present in 18 countries, with over 9,000 employees and €2,559 m
Tel. +33 (0)1 80 81 50 00
in revenue. Econocom is listed on Euronext in Brussels, on the BEL
Mid and Family Business indices.
Attachments
Original document
Permalink
Disclaimer
Econocom Group SE published this content on 15 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2021 15:58:04 UTC.
Econocom Group SE specializes in providing digital services to companies. Net sales break down by activity as follows:
- Products and Solutions (45%): supply and integration of IT, mobile, telecom and multimedia products;
- Technology Management and Financing (37.2%): leasing and piloting of computer systems and telecoms;
- Services (17.8%): consulting, engineering, outsourcing, maintenance services, etc.
Net sales are distributed geographically as follows: Benelux (14.4%), France (46.5%), Southern Europe (25.3%), Northern and Eastern Europe and Americas (13.8%).
ECONOCOM GROUP SE 
