Report
Nicolas David

Econocom : Rebound in activity halted by the second wave of the epidemic - Neutral vs Buy

>An unexpected deterioration in Q3 with a decline of around 15.5% - On Thursday after trading, Econocom published 9M 2020 revenues of € 1,825m for continuing operations, which came in below our forecast (€ 1,910m) and represented a decline of -12.5% over the first nine months of the year. This indicates an organic decline of around 15.5% for Q3, which is far deeper we forecast (-4.2%) and shows an acceleration vs the previous quarter (-12.5% org. in Q2 2020). Th...
Underlying
Econocom Group SE Class D

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Nicolas David

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