Econocom Group

Econocom Group specializes in the management of IT and telecom infrastructures for businesses throughout Europe, U.S. and China. Co. designs and implements products and services for SMEs, corporations or public authorities. It operates through four complementary businesses: IT products and solutions, distributed infrastructures (outsourcing, maintenance and consulting), telecom services and administrative and financial management of ICT assets. Co.'s business segments are as follows: IT Financial Services; Managed Services; Products and Solutions; and Telecom Services.
  • TickerECONT
  • ISINBE0974313455
  • ExchangeEuronext Brussels
  • SectorSoftware & Computer Services
  • CountryBelgium

ECONOCOM GROUP sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ECONOCOM GROUP (BE), a company active in the Computer Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date July 14, 2020, the closing price was EUR 2.14 and its potential was estimated at EUR 2.40.

Guy Sips ...
  • Joachim Vansanten
  • Michiel Declercq
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note 13-7-2020 AKZA NA, ECONB BB, FFARM NA, KDS NA

Akzo Nobel : 2Q adjusted operating income ‘only’ -22% Econocom : 1H20 updated guidance ForFarmers : A New Reality Kiadis : Two senior management hires

Charles Lepetitpas ...
  • Nicolas David

Econocom : H1 2020 results better than expected and deleveraging underway

>Q2 broadly in line with Q1, with a better performance from TMF - Econocom pre-announced its H1 2020 results after trading on Friday, with better-than-expected figures, as presaged by the initial indications given on the sidelines of the EBC disposal on 30 June.H1 2020 revenues came in at € 1.24bn, down -12.5% on constant scope, which implies negative growth of around -13% in Q2. This is a slightly sharper drop than in Q1 (-11.5%), with a worsening performance in...

Charles Lepetitpas ...
  • Nicolas David

Econocom : Résultats S1 meilleurs qu’attendu et désendettement en cours – Achat vs Alléger

>T2 globalement dans la lignée du T1 avec du mieux sur TMF - Econocom a pre-annoncé vendredi après Bourse ses résultats S1 2020 et ces chiffres sont nettement supérieurs aux attentes comme laissaient présager les premières indications données en marge de la cession de EBC le 30 juin dernier.Le chiffre d’affaires S1 ressort à 1 240 M€ en baisse de -12.5% à périmètre constant, soit environ =13% sur le T2. Il s’agit d’une baisse marginalement plus forte qu’au T1 (-1...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2020

We are initiating coverage of Phoenix with a Buy recommendation and a target price of 775 pence. Phoenix Group is the UK’s leading life and pension consolidator and is poised to finalise the acquisition of its main competitor, ReAssure, in the coming weeks. It boasts rigorous management of its capital, with significant cash generation and an attractive shareholder return. Cf. company report published today. - ...

Econocom Group: 1 director bought

A director at Econocom Group bought 103,286 shares at 1.634EUR and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Guy Sips ...
  • Joachim Vansanten
  • Michiel Declercq
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note 13-7-2020 AKZA NA, ECONB BB, FFARM NA, KDS NA

Akzo Nobel : 2Q adjusted operating income ‘only’ -22% Econocom : 1H20 updated guidance ForFarmers : A New Reality Kiadis : Two senior management hires

Charles Lepetitpas ...
  • Nicolas David

Econocom : H1 2020 results better than expected and deleveraging underway

>Q2 broadly in line with Q1, with a better performance from TMF - Econocom pre-announced its H1 2020 results after trading on Friday, with better-than-expected figures, as presaged by the initial indications given on the sidelines of the EBC disposal on 30 June.H1 2020 revenues came in at € 1.24bn, down -12.5% on constant scope, which implies negative growth of around -13% in Q2. This is a slightly sharper drop than in Q1 (-11.5%), with a worsening performance in...

Charles Lepetitpas ...
  • Nicolas David

Econocom : Résultats S1 meilleurs qu’attendu et désendettement en cours – Achat vs Alléger

>T2 globalement dans la lignée du T1 avec du mieux sur TMF - Econocom a pre-annoncé vendredi après Bourse ses résultats S1 2020 et ces chiffres sont nettement supérieurs aux attentes comme laissaient présager les premières indications données en marge de la cession de EBC le 30 juin dernier.Le chiffre d’affaires S1 ressort à 1 240 M€ en baisse de -12.5% à périmètre constant, soit environ =13% sur le T2. Il s’agit d’une baisse marginalement plus forte qu’au T1 (-1...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/08/2020

We are initiating coverage of Phoenix with a Buy recommendation and a target price of 775 pence. Phoenix Group is the UK’s leading life and pension consolidator and is poised to finalise the acquisition of its main competitor, ReAssure, in the coming weeks. It boasts rigorous management of its capital, with significant cash generation and an attractive shareholder return. Cf. company report published today. - ...

Alexandre Iatrides ...
  • Charles Lepetitpas
  • Florent Laroche-Joubert
  • Jean-François Granjon
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Sebastien Malafosse
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/07/2020

Nous initions la couverture de Phoenix avec une recommandation à l’Achat et un objectif de cours de 775 pence. Phoenix Group est le leader de la consolidation de portefeuilles d’assurance vie au Royaume-Uni et doit finaliser l’acquisition de son principal concurrent ReAssure dans les prochaines semaines. Il a une gestion rigoureuse de son capital avec une génération importante de cash-flow et un rendement attractif pour les actionnaires. Cf. étude publiée hier soir. - ...

Tony Lebon

Different risk profiles, two Buy opportunities in the convertible bonds space

We discuss in this report the key topics to have in mind when analyzing services companies such as Econocom and Indra Sistemas in the context of the Covid-19 crisis: cyclicality of the various activities, geographical mix, variable vs fixed costs, temporary variabilization of the cost base thanks to partial unemployment (with different mechanisms depending on the jurisdictions), liquidity and debt maturity profile, questions around non-recourse factoring, shareholding structure, ...

Tony Lebon

Different risk profiles, two Buy opportunities in the convertible bonds space

We discuss in the report the key topics to have in mind when analyzing services companies such as Econocom and Indra Sistemas in the context of the Covid-19 crisis: cyclicality of the various activities, geographical mix, variable vs fixed costs, temporary variabilization of the cost base thanks to partial unemployment (with different mechanisms depending on the jurisdictions), liquidity and debt maturity profile, questions around non-recourse factoring, shareholding structure, a...

Tony Lebon

Econocom : Stand by the captain

>Publication date 11/02/2019 08:15 - Writing date 11/02/2019 08:14 - Shareholders at end-2017 - Jean-Louis Bouchard - 36% - Treasury stock - 4% - Free float - 60% - - Equity data - Reco : Neutral - Target : 3.00 EUR - Equity analyst: Nicolas David - - +33 (0)1 44 51 81 51 - ESG analyst: Valentin Pernet - Corporate Governance: -Opportunity (2) (see appendix 5 for more details) - - - / - Next events: - Full-year 2018 results: Monday 14/03/2019 - Repo figures: see appendix...

Tony Lebon

Econocom : Faisons confiance au capitaine

>Ré-initiation du suivi d’Econocom côté crédit avec une reco. Achat - Nous ré-initions le suivi d’Econocom avec un avis crédit stable et une recommandation Achat sur l’OCEANE 2023. Avec un rendement d’environ 5,6%, non seulement cet instrument ne valorise pas l’option de conversion, mais il offre de surcroît un pick-up très attractif par rapport à des obligations « sèches » de workout date comparables notées BB (ytm moyen d’environ 2,4%) ou BB- (environ 3,2%). De...

Alfred Glaser ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 04/24/2020

...

Alfred Glaser ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 24/04/2020

...

Ahmed Ben Salem ...
  • Charles Lepetitpas
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir

ODDO BHF Small & MIDCAP MORNING NEWS - 04/14/2020

...

Ahmed Ben Salem ...
  • Charles Lepetitpas
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir

ODDO BHF Small & MIDCAP MORNING NEWS - 14/04/2020

...

Aurelien Sivignon ...
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas Thorez
  • Nicolas David

ODDO BHF Small & MIDCAP MORNING NEWS - 01/24/2020

...

ECONOCOM GROUP sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ECONOCOM GROUP (BE), a company active in the Computer Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date July 14, 2020, the closing price was EUR 2.14 and its potential was estimated at EUR 2.40.

Expert Corporate Governance Service (ECGS)

Econocom Group – AGM 19 May 2020

Covid-19 Emergency   In view of the Covid-19 pandemic and the measures and recommendations taken by the public authorities in Europe and Belgium, the Meetings will be organised by videoconference or teleconference.   ANNUAL GENERAL MEETING   Item 6.i: This proposal seeks shareholder approval to re-appoint Mrs. Adeline Challon-Kemoun as director of the Company for a duration of 4 years. Mrs Challon-Kemoun is independent for both the company and ECGS, but she attended 66% of board meetings in 2019 and 40% in 2018, far below the 75%-threshold tolerated by ECGS. We recommend to oppose.   I...

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