A strong third quarter
Econocom, the European leader in business-to-business IT and telecoms infrastructure management, reported a strong third quarter with revenue doubling from last year to €345 million, thanks to the integration of ECS. On a like-for-like basis, the third-quarter performance has increased slightly (1%), thereby confirming lively sales activity ahead of the group’s forecasts.
At the end of the third quarter 2011, consolidated revenue stands at €1,109 million, compared with €508 million at the same period in 2010.
Annual revenue target raised
The group was slightly ahead of its plan at end of September. Revenue posted for the first nine months of the year stands Econocom in good stead for exceeding its annual targets of €1.4 billion consolidated revenue and confirming its forecast of €56 million recurring operating profit.
Econocom will continue to implement operational synergies generated by the integration of ECS, which should reach €15 million this year and an estimated €25 million in 2012, thus giving Econocom a lever for improving future results.
The 2011 full-year revenue will be published after the close of trading on 26 January, 2012.
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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