Recurring operating profit 2019 up 14.3% at €126.2m

Key points of 2019
• Revenue from continuing operations stable at €2,927m
• Recurring operating profit at €126.2m, in line with forecasts
• Net book debt under control at €252m, at same level as at end-2018
• Two non-strategical businesses sold and other sales underway
• Offer to repay share premium for €0.12 per share

Bright outlook for 2020 against a backdrop of uncertainty
Econocom will continue to bolster its traditional business line, Technology Management & Financing, and refocus on the high-potential activities of its business line Digital Services and Solutions with productive investments on the one hand and sales and closures of non-strategic activities on the other.

Two sales were completed in 2019 (Jade and Rayonnance). On 28 February, the company also announced it was in exclusive negotiations with investment firm Chequers Capital to sell its subsidiary EBC (Econocom Business Continuity), which brings together the group’s maintenance activities in France. If this sale is completed, these three operations would make a combined total of €150m in proceeds from sales. Other sales are underway at different stages of progress.

Econocom will pursue its transformation plan to help boost its operating margin and return to strong growth. This will involve enhancing the company’s talents and providing new offers, whether developed in-house or incorporated by acquisition. With this approach, Econocom will further strengthen its ability to provide its clients with end-to-end support and finance their digital transformation.

Before the COVID-19 crisis recently arose, the group had set itself the goal of reaching a level of recurring operating profit much higher in 2020 than in 2019.
Given the uncertainty about how this crisis might unfold and how long it may last, the group has decided not to publish guidance with figures for its ROP 2020.

Please download the PDF version for the detailed results.