Econocom : Marked reduction in debt but limited leverage on the margin
>Brisk FCF generation thanks to a sharp fall in the WCR of TMF - During a conference call held last night, Econocom's management reviewed the preliminary FY 2020 results published a week ago. We have little new information concerning the P&L compared to the press release published on 21 January (link to our flash). TMF's operating margin is around 4%, which demonstrates a certain resilience given the drop in activity (-16% organic over the year). Product & Solut...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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