Nieuwegein, 8 september 2016 -
Econocom meldt een omzet van € 1.212 miljoen in het eerste halfjaar van 2016, vergeleken met € 1.122 miljoen in dezelfde periode in 2015. Dat is een stijging van 8%, waarvan 5,1% organisch is.
- Sterke toename omzet met +8%, courant bedrijfsresultaat met +23% en terugkerende operationele winst met +31%
- Goede vooruitzichten voor 2016 bevestigd
De doorgezette groeidynamiek van de groep, bevestigt dat de marktpositionering en het buitengewone organisatiemodel (de Econocom Galaxy, die bestaat uit een planeet omringd door satellieten) bij uitstek geschikt zijn om in de groeiende vraag vanuit het bedrijfsleven naar pragmatische, innovatieve, pay-per-use-business oplossingen te voorzien.
Alle activiteiten van de groep droegen bij aan deze groei:
- Technological Management & Financing rapporteerde een omzet van € 613 miljoen ten opzichte van € 567 miljoen in het voorgaande jaar. Dat is een stijging van 8,1%, waarvan 7,9% organisch. Deze aanzienlijke stijging weerspiegelt de gezonde zakelijke trend en de effectiviteit van investeringen in het salesteam en het team voor "gestructureerde financieringen", maar ook de gestage ontwikkeling van Econocom Digital Finance Limited (de in-house financieringsdivisie van de groep).
- Services liet een omzet van € 388 miljoen zien, tegenover € 345 miljoen in het voorgaande jaar (dat is een stijging van 12,6%, waarvan 4,3% organisch is). 3,2% organische groei kwam van de kernorganisaties van de Econocom Planeet (volledig eigendom van de groep); de organische groei werd veroorzaakt door de investeringen in de Satellietbedrijven (bedrijven waar de groep een controlerend belang in heeft). Deze bedrijven droegen ook € 96 miljoen bij aan de geconsolideerde omzet en aan meer dan tweederde van de groei van de activiteiten.
- Products & Solutions (added-value distributie) rapporteert een omzet van € 211 miljoen, ten opzichte van €210 miljoen in het voorgaande jaar (een stijging van 0,2%) en een lichte organische daling (-1,1%), in vergelijking met de eerste helft van 2015, die een organische groei van 26% liet zien. Deze tak maakt melding van een aantal succesvolle deals die naar verwachting een positief effect zullen hebben in het tweede halfjaar.
Lees het volledige Engelstalige persbericht hieronder:
2016 half-year results
Consolidated, unaudited
Econocom continues its profitable growth dynamic.
Strong rise in revenue (+8%), recurring operating profit (+23%) and net recurring profit (+31%)
Positive outlook for 2016 confirmed
Econocom, a European company specialising in the digital transformation of businesses, announced its half-year results after the Board of Directors met today.
8% rise in revenue, 5% of which is organic
Econocom reported revenue of €1,212 million in the first half of 2016, compared with €1,122 million for the same period in 2015, i.e. an 8% increase, 5.1% of which is organic.
The group’s continuing growth dynamic confirms that its market positioning and original organisation model (the Galaxy Econocom, consisting of the Planet surrounded by Satellites) are ideally suited to address companies’ growing demand for pragmatic, innovative, pay-per-use business solutions.
All the group’s activities contributed to this growth:
- Technology Management & Financing reported revenue of €613 million compared with €567 million a year before, i.e. an 8.1% rise, 7.9% of which is organic. This considerable increase reflects the healthy business trend and the effectiveness of investments in the sales force and the “structured financing” team, as well as the steady development of Econocom Digital Finance Limited (the group’s in-house funding division).
- Services posted revenue of €388 million compared with €345 million a year before (i.e. a 12.6% increase, of which 4.3% is organic). 3.2% of organic growth came from the Econocom Planet’s core businesses (operations wholly owned by the group); organic growth was driven by the investments made in the Satellites (companies in which the group holds a controlling interest). These companies also contributed €96 million to consolidated revenue during the period and to more than two thirds of the activity’s growth.
- Products and Solutions (added-value distribution) posted revenue of €211 million compared with €210 million a year before (i.e. a 0.2% rise) and a slight organic decrease (-1.1%), compared with the first half of 2015, which posted organic growth of 26%. This business reported some successful deals which are expected to have a positive impact in the second half.
Recurring operating profit up 23%
Recurring operating profit1 for the first half of 2016 stood at €53 million, up 23% from the first half of 2015. The continued growth of business synergies between the group’s activities, the full effect of the successful integration of Osiatis and the productivity plans contributed to this performance.
Services and Technology Management & Financing thus reported a double-digit rise in recurring operating profit. Services’ profitability rate, meanwhile, increased substantially by 0.9 point to 4.8% in the first half. The margin rate for Products & Solutions remains stable.
Net recurring profit up 31%
Profit attributable to owners of the parent includes a financial expense (non-recurring and non-cash) of €10.7 million as a result of the change in fair value of the ORNANE derivative due to the rise in the Econocom Group share price in the first half. It amounted to €18.3 million.
Net recurring profit attributable to owners of the parent
2 stands at €31.7 million compared with €24.2 million in the first half 2015, a 31% increase. Restated non-recurring items for the first half are (i) other non-current operating income and expenses (-€1.5M), (ii) non-recurring financial expenses, i.e. the premium paid for the ORNANE convertible bond purchases (-€1.3 M) and the non-cash expense corresponding to the change in fair value of the ORNANE derivative (-€10.7 M) and lastly (iii) the fiscal effect of these restatements (+€2.2M).
Combined with the reduction in the number of outstanding shares, this result
led to a 33% rise in net recurring earnings per share.
Continuing its investment strategy in key sectors and countries
As part of its selective investment policy, Econocom acquired controlling interests in two companies during the first half:
- Caverin Solutions: 67% of the share capital of this Spanish company, which posted revenue of €14 million in the digital multimedia solutions market. Econocom has now established its three activities in Spain.
- Cineolia: 60% stake in this specialist in digital solutions for hospital patients (€2 million revenue in 2015).
The group has also carried out two other transactions since 30 June:
- Asystel Italia: 51% stake in this player in the Italian mobile solutions, cloud and security market. It posted €22 million revenue. After the acquisition of Bizmatica in 2015, this transaction will enable Econocom to triple its Services business in Italy in less than two years.
- MCNEXT: 81% of the share capital of this company specialising in Microsoft software solutions and development tools (€15 million revenue). Econocom is combining its Microsoft operations under the Infeeny brand and will be among France’s top three providers of Microsoft technologies services.
Net financial debt under control
On 30 June 2016,
net book financial debt amounted to €285 million, in line with the group’s forecasts. The change compared to 31 December 2015 is due mainly to the structural seasonal nature of the group’s activity and the investments made during the period.
On 30 June 2016 net financial debt was twice the group’s twelve months EBITDA.
Equity stood at €271 million on 30 June 2016. This change in the first half reflects the seasonal nature of the group’s activity. It is due mainly to the first-half results, repayment of share premiums and buying back treasury shares.
Econocom continued its treasury share buyback policy. On 30 June 2016 the group held
4,821,172 treasury shares, i.e. 4.28% of the group’s share capital. These shares, which do not appear as assets in the balance sheet, represented, based on the share price on 30 June 2016, €49.7 million.
Positive outlook and growth guidance for 2016 confirmed
The good first half performances, in terms of both results and orders, have allowed the group’s Management to confirm its forecasts: organic growth above the market rate, a double-digit rise in recurring operating profit and another increase in net earnings per share.
A meeting of the press and financial analysts will be held on 8th September 2016.
The third-quarter trading statement will be published after the close of trading on 19th October 2016. The 2016 half-year report will be available on 8th September 2016 on the website, under: finance.econocom.com/fr/actus/rapports-financiers.
Over Econocom
Econocom ontwerpt, financiert en begeleidt de digitale transformatie van bedrijven. Met meer dan 9.000 medewerkers actief in 19 landen en een jaaromzet van meer dan €2,3 miljard, heeft Econocom alle vereiste kwaliteiten in huis om de implementatie van grootschalige digitale projecten te waarborgen; consultancy, sourcing, technologisch beheer en financiering van digitale assets, infrastructuur-, applicatie- en business solution services en projectfinanciering.
Het aandeel Econocom Group (BE0974266950 - ECONB) is sinds 1986 genoteerd op de NYSE Euronext in Brussel en maakt deel uit van de Bel Mid-index.
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Informatie en contact
Voor meer informatie: www.econocom.nl
Volg ons op Twitter: http://twitter.com/econocom_nl
Contactpersoon investeerders- en aandeelhoudersrelaties: galliane.touze@econocom.com
Voor overige vragen of interviews:
Pride PR
Jannemiek Starkenburg / Simone Pouw
+31 71 568 00 28
econocom@pridepr.nl