Econocom Group (ECONB) Q3 2024 TU earnings summary

Executive summary

• Revenue reached €1,941 million for the first nine months of 2024, up 4.0% year-over-year, with growth accelerating from 3.0% in H1 2024.

• TMF segment drove overall growth, while Products & Solutions remained flat amid challenging market conditions.

Financial highlights

• Group revenue increased by 4.0% year-over-year to €1,941 million for the first nine months of 2024.

• Organic growth was 3.9% for the period.

• TMF revenue rose 9.7% to €721 million; Services revenue up 2.9% to €359 million; P&S revenue flat at €861 million.

Outlook and guidance

• 2024 guidance maintained for revenue growth between 3% and 5%, despite difficult IT distribution market conditions, especially in France.