Angel Benguigui, CEO of Econocom Group, said: “Econocom has maintained its solid growth trajectory despite the ongoing evolving economic context. This performance reflects the dynamism of our commercial strategy, bolstered by an ambitious 2024 plan to expand our sales forces and the ongoing commitment of our teams. We will continue to intensify synergies across our business lines, solutions, and geographies to unlock additional growth potentials.”
Thanks to the investments made in 2024, revenue reached €663.3 million, up +4.5% on a reported basis (+3.8% organic growth), compared to 1st quarter of 2024 (which shown +2.6% growth vs Q1 2023), mainly driven by the finance leasing business (TMF).
During the first three months of 2025, Econocom’s businesses reported the following performances:
- Technology Management & Financing (TMF): Revenue totalled €241.0 million, representing a strong total growth of +16.7%, of which +14.4% organically, driven in particular by the Southern European markets. TMF maintains its positive organic trend after posting strong growth since 2023. Bb-net, the market leader in IT refurbishment in Germany, acquired by the Group in January 2025, has a positive start of its integration process.
- Products & Solutions (P&S): Revenue stood at €291.8 million, down by -4.7%, negatively impacted by a cautious European market.
- Services: Revenue reached €130.5 million, up +7.0% both on a reported and organic basis. This performance is notably underpinned by some deals delivered in Spain. Elsewhere, growth remains in line with the trend observed in 2024.
External growth
As part of its One Econocom strategic plan, Econocom continues to seek to strengthen its market position through targeted acquisitions in key geographic areas. Meanwhile the group continues to seek for the disposal of non-core units, including underperforming.
Confirmed outlook for 2025
Despite evolving global environment, Econocom confirmed at this stage its growth ambition, expecting a 2025 growth higher than the 3.6% achieved in 2024.