Econocom Group has announced its financial results for the year 2024, showcasing robust growth and significant strides in its strategic “One Econocom” plan.
The company reported revenues of €2,744 million, marking a 3.6% organic increase compared to 2023. Operating margin stood at €110.4 million, representing a profitability rate of 4.0%. Consolidated net profit was €37.7 million, equating to earnings per share of €0.220, reflecting the impact of non-recurring items associated with the group’s transformation efforts. Additionally, net financial debt was significantly reduced to €96 million by year-end, underscoring the company’s strengthened financial position.
In 2024, Econocom embarked on the “One Econocom” strategic plan, aiming to enhance synergies across its business lines and geographical operations. As part of this initiative, the company expanded its sales force by recruiting over 60 new talents and implementing comprehensive staff training programs to bolster future growth.
It also introduced “Gather,” a new European brand targeting the audiovisual, unified communications, and information market.
In January 2025, Econocom acquired an 80% stake in bb-net, Germany’s leading IT refurbishment company, thereby strengthening its presence in the European circular economy sector.
Jean-Louis Bouchard, Chairman and Founder of Econocom, highlighted the significance of 2024 as a milestone year.
2024 marked the completion of the first year of the “One Econocom” plan and the appointment of Angel Benguigui as CEO whose “leadership and in-depth knowledge of the Group make him ideally placed to oversee this new phase of reform and development.”
CEO Angel Benguigui emphasised that the year ended with strong results driven by the major transition underway.
He noted that “ever-advancing technologies lead us to make investments that are paramount for the transformation of our business lines and to maintain our competitive edge going forward.”
Econocom’s business segments also demonstrated strong performance. The Products & Solutions (P&S) division generated revenue of €1,205 million, a 0.5% increase, with an operating margin of €39.3 million and a profitability rate of 3.3%. The Technology Management & Financing (TMF) segment achieved revenue of €1,048 million, marking a 7.7% rise, and an operating margin of €46 million at a 4.4% profitability rate. Meanwhile, the Services division reported revenue of €491 million, up 3.1%, with an operating margin of €25 million, reflecting a 5.1% profitability rate.
The company reinforced its corporate social responsibility (CSR) commitments by securing validation from the Science Based Targets initiative (SBTi) for its decarbonisation efforts. Econocom aims to reduce absolute Scope 1 and 2 greenhouse gas emissions by 61.4% by 2028 and increase renewable electricity usage to 92% within the same timeframe. Furthermore, the group was awarded the Ecovadis Gold Medal, placing it in the top 5% of companies worldwide for CSR performance.
Looking ahead to 2025, Econocom remains optimistic despite a mixed economic climate and an evolving technology market. The company expects growth in 2025 to surpass that of 2024, demonstrating resilience and adaptability in the dynamic digital services landscape.
