Tuesday, October 12, 2021

Ekinops' Q3 revenue rises 12%

Ekinops reported consolidated revenue of €24.1m in the third quarter of its financial year, reflecting steady growth of 11% from third-quarter 2020. At constant exchange rates, revenue grew 12% on an organic basis. Some highlights from Ekinops:

  • As in the first half of the year, the third quarter was marked by strong sales momentum in Optical Transport solutions in all geographical regions.
  • Bolstered by the success of Software Defined Networks (SDN) and virtualization offers, the share of software and services continued to grow, accounting for over 13% of Group revenue at end-September 2021 (compared with 10% for full-year 2020).
  • Growth accelerated internationally in the first nine months, with Ekinops reporting growth of 20% for the period (+14% in H1 2020). At end-September, international operations accounted for 67% of total Group revenue (vs. 63% for full-year 2020).
  • The EMEA region (Europe - excluding France - Middle East and Africa) posted growth of 24%, with nine-month revenue at €32.6m. The region benefited in particular from the 60% increase in sales of Optical Transport solutions.
  • North America once again achieved double-digit growth, with revenue of €13m, reflecting strong 21% growth (+28% in USD). The trend was fueled by solid growth in both Access and Optical Transport solutions.
  • After an 18-month period impacted by the consequences of the pandemic, Asia-Pacific returned to growth in the third quarter, with sales now down by just 7% in the first nine months of the year (compared with -29% in the first six months).
  • France posted nine-month revenue of €24.7m, down slightly by 3% since the start of the year. This performance should be seen in light of the growth achieved in the same period in 2020 (+11%).

Didier Br├ędy, Chairman and CEO of Ekinops, states: "Ekinops posted a record third quarter despite unprecedented global tensions on electronic components. This reflects a solid performance by the Group, driven by the efforts led across all geographical regions and by our determination to generate strong and lasting growth. We are highly satisfied with the continued double-digit growth in North America and EMEA, the initial signs of a recovery in business activity in the Asia-Pacific region, and the robust outlook for our business activities in France between now and the end of the year. Despite inflation on component prices, we remain confident that we will meet our targets for the 2021 financial year."