Report
Antoine Lebourgeois

Ekinops: Cost discipline shields margins as growth recovery takes shape for 2025

Despite topline softness (FY24 revenue down 9% yoy), Ekinops delivered an FY24 EBITDA margin of 15.3% (+90bps yoy), driven as expected by a favourable business mix effect on gross margin (54.8%, +270bps yoy) and stricter-than-expected cost discipline, with opex down 7% yoy. Looking ahead, 2025 is s
Underlying
Ekinops SA

Ekinops SA is a France-based company engaged in the provision of optical transport solutions for service providers and private networks. The Company develops optical aggregation and transportation sub-systems for metropolitan and long-distance networks. Its products include switching, routing and multi-protocol solutions; optical amplifiers, optical filters, as well as optical protection units, among others. Its system can be configured through a software download to manage the aggregation of multiprotocol services through integration of systems and functionalities, allowing systems to be used through a single protocol. Ekinops operates a network of business offices in Americas, Europe, the Middle East and Africa.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Antoine Lebourgeois

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