Econocom : H1 results well short of expectations. 2023 guidance confirmed but it is likely to be hard to achieve
>Q2 organic growth of -4%, below our expectations - Econocom reported its H1 2023 results after trading on Tuesday and held a presentation meeting yesterday. H1 2023 sales came in at € 1.337bn, with negative organic growth of -0.4% y-o-y. This figure reflects negative organic growth of c.-4.3% y-o-y in Q2, implying, as announced after Q1, a sharp shift in trend (vs +4.4% org. in Q1), but it is still below expectations (ODDO BHF: -1.8% org. y-o-y). This slowdown is m...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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