Last updated: July 29, 2024
1 minutes read
Pan-European VAR Econocom Group has reported €1.3bn in revenue for the first half of 2024, a 3% increase from 2023, with technology management & financing (TMF) leading with a 6.1% rise.
Despite this growth, the operating margin fell to €38.3m due to investments in sales expansion and IT security under the One Econocom plan for 2024-2028.
Net financial debt decreased to €180 million, down from €321m a year earlier, thanks to the sale of Les Abeilles and strong cash flow.
In a separate announcement, Econocom revealed two governance changes: founder Jean-Louis Bouchard (pictured) will serve as operational chairman, and Angel Benguigui will take on the role of Group CEO.
The company forecasts growth between 3% and 5% for the full year.
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