Press release, 29 june 2022
Econocom gives details about the acquisition of Semic SA in Spain and its quarterly Revenue on a pro forma basis1
Following questions from financial analysts about Econocom's acquisition of Semic, announced on 28 June 2022, the Group would like to share the following clarifications:
- In 2021, Semic reported an EBITDA of around €2m
- 51% of its shares have been acquired; the company has been consolidated since 1 April 2022
- The balance will be the subject of a second tranche in March 2025
Econocom would also like to underline that after some entities were reclassified as discontinued operations, its Q1 2021 Revenue by business line on a pro forma1 basis is as follows:
|Revenue (millions of euros)||Q1 2021 |
|Products & Solutions||222.7||239.5|
|Technology Management & Financing (TMF)||171.1||175.9|
Econocom Revenue has been supported by TMF's upturn, by a solid performance from Products & Solutions and by the incorporation of recent acquisitions, so the Group expects sustained growth2 in H1 2022 Revenue, above its target of 4–5% for the year 2022.
Given the good trend in H1 2022 business activity, the Group expects its Recurring Net Profit per share to be at least €0.50 for the year 2022.
Next publication: 2022 half-year results on 26 July 2022 after market close.
1 Based on unchanging norms and scope
2 Based on unchanging norms
Econocom is a digital general contractor. It conceives, finances and facilitates the digital transformation of large firms and public organisations. It has forty-nine years' experience and is the only market player offering versatile expertise through a combination of project financing, equipment distribution and digital services. The group operates in sixteen countries, with over 8,200 employees. It made €2,505m in revenue in 2021. Econocom is listed on Euronext in Brussels, on the BEL Mid and Family Business indexes.
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