Digital services provider Econocom has managed a double-digit uptick in first quarter 2023 revenues.
The VAR said its development was driven by organic growth in technology management and financing and external growth in products & solutions.
Its products and solutions division was up 11.1 per cent to earn revenues of €312 million, driven by the acquisitions.
Organically, the segment posted a slight increase of 1.5 per cent compared with the first quarter of 2022, which Econocom said was a period of sharp growth.
Technology management and financing continued to grow with revenues of €197 million which was an increase of 17.6 per cent including 13.6 per cent organic growth.
Performance was boosted by the completion of a number of significant deals during the first quarter, whereas in 2022 they were mostly recognised in the second quarter.
However, Econocom expects growth to slow by the end of June 2023, which it says is down to “seasonal discrepancies” between 2022 and 2023, and the challenging market environments.
