Econocom, the European leader in business-to-business ICT infrastructure management, has announced its unaudited preliminary full-year revenue and results for 2012. These results are in line with the guidance announced by the Group at the beginning of the year and reflect the strength of its economic model.
A lively year-end
Revenue for the fourth quarter of 2012 stood at €488 million, rising slightly from the previous year, bringing the annual turnover to €1.54 billion.
In terms of geographical breakdown, Northern and Eastern Europe reported growth, driven mainly by strong business trends in the United Kingdom, and Southern Europe (Spain and Italy) reported satisfactory performances. France remained stable whilst Benelux suffered from a negative base effect following a particularly successful 2011 in which a number of substantial deals were signed.
Investment in external growth
In 2012, Econocom carried out 5 acquisitions, thus enabling the group to enhance its expertise in strategic markets such as virtualisation and cloud computing (Centix and Ermestel), IT security (Cap Synergy), Telecom services (Tactem) and Apple product distribution (France Systèmes). The acquisition of Ermestel, moreover, has allowed the Group to consolidate its position in Spain whilst breaking into the Mexican market, thus making it even better placed to serve its international clients. Given the date on which these companies were integrated, their contribution to Econocom’s 2012 consolidated revenue is limited (around €13 million).
Net profit doubled since 2011, year of the integration of ECS
Recurring operating profit1 is estimated at €74 million for 2012, up 10% on the previous year. Net earnings per share1 are expected to reach around €0.50 per share, i.e. more than twice as much as in 2011, thanks to the group’s control of operating costs and other expenses whilst continuing an ambitious investment policy.
Next press release: the 2012 full-year results will be published after the close of trading on 28 February 2013.
1 Before amortisation of the ECS client portfolio