Econocom - Cuts guidance after difficult Q3
9M organic growth of -2% was below our estimate of +1%, total revenues came in ahead of our estimate thanks to acquisitionsManagement cuts its FY guidance, market environment more challengingWe already expected flat 23 profit and will modestly reduce our estimates for 2024 and beyondEconocom 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.
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