Econocom - Q1 trends support FY24 guidance
Q1-24 revenues increased 2.6% organically to EUR 634m, modestly above our estimate of EUR 618m, thanks to strong TMF performance.Management reiterates its guidance for 3-5% revenue growth in FY24No significant changes to our estimates, Hold reiteratedEconocom 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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