During the first half-year, Econocom consolidated its leadership in the European business-to-business IT and telecoms infrastructure services market by integrating ECS Group’s business, which it acquired in October, 2010. Consolidated revenue jumped to €765 million, compared with €361 million the previous year.
On a like-for-like basis, the group’s sales are slightly down (-2%). The drop in sales, due to the group’s decision to relinquish certain non-strategic activities, was largely offset by lively sales activity, which exceeded targets.
CONFIDENT ABOUT FINANCIAL TARGETS
The good business trends and the first synergies resulting from the integration of ECS led to a sharp rise in recurring operating profit in the first half (versus €10.7 million published H1 2010), thereby allowing the group to maintain its targets in terms of annual revenue (€1.4 billion) and recurring operating profit (€56 million).
The half-year results will be published after the close of trading on 31 August, 2011.
About Econocom: Established in 17 countries with 3,700 employees and consolidated revenue of €1,021 million in 2010, Econocom is Europe’s leading independent provider of business-to-business IT and telecoms infrastructure management services. Its services include consultancy, procurement, financing and a complete range of IT outsourcing services. The Econocom Group share (BE0003563716 - ECONB) has been listed on the Euronext NYSE in Brussels since 1986 and is part of the BelMid index.
For further information: www.econocom.com
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