Econocom revenues up in first nine months of 2024, names new executive committee

Technology management and financing pushed up the bottom line, but domestic products and solutions created headwinds

Econocom has posted a revenue bump for the first nine months of 2024 owing to a strong showing in its technology management and financing business.

Revenues grew four per cent to €1.94bn for the first nine months of the year, after notching up a three per cent increase just in H1 2024.

Econocom’s technology management and financing arm saw the highest growth, climbing 9.7 per cent to bring in €721m.

The French digital solutions provider said this positive performance is a result of business investments made in the past few half-years.

Econcom’s services business saw a 2.9 per cent uptick to generate €359m, compared with a 1.2 per cent rise in H1 2024.

Meanwhile, products and solutions stood flat compared with Q3 2023 with €861m in revenues, amid bleak market conditions and a drop in public contracts in France.

Econocom maintains its 2024 guidance, expecting revenue growth of between three per cent and five per cent, despite difficult conditions in the IT distribution market, particularly in France.

Econocom names new executive committee

Alongside its positive results, Econocom has announced its newly formed executive committee under the leadership of Angel Benguigui, group CEO.

The reorganisation, part of the ‘One Econocom’ strategic plan, reflects the group’s ambition to strengthen its European leadership and accelerate its transformation into a digital innovation facilitator.

The new members include Quentin Bouchard as managing director global group tech, Israel Garcia as MD business development & strategic plan and country manager UK, and Philippe Renauld as MD Finance and M&A.

Anne Bruchon, group communications director, has been appointed secretary of the executive committee.

The aim of this reshuffle is to ensure the group runs with optimal efficiency thanks to a leaner, more agile management team.

“This strategic reorganisation of our executive committee is a clear testament to our ambition to strengthen our European leadership and accelerate growth in our local markets,” said Benguigui.

“With a lean, experienced, diverse team to rely on, we’ll be ideally placed to successfully implement our ‘One Econocom’ strategic plan, rise to our current challenges and grasp future opportunities in a constantly-changing environment.”