Ekinops Q1 2023: €31.9m revenue, up +15%

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Apr 13, 2023, 12:15 ET

PARIS, April 13, 2023 /PRNewswire/ -- EKINOPS (Euronext Paris - FR0011466069 – EKI), a leading supplier of telecommunications solutions for telecom operators and enterprises, has published its consolidated revenue for the first quarter of 2023 (January 1 - March 31, 2023).

€m - IFRS Non-audited data	2022	2023	Change
Q1 revenue	27.8	31.9	+15 %

+15% growth in Q1 2023

At the end of the first three months of FY 2023, Ekinops reported consolidated revenue of €31.9 million, up a robust +15%.

This solid performance, on the back of +20% growth in Q1 2022, is in line with annual guidance of more than +12% revenue growth on a full-year basis.

At constant exchange rates, growth for the quarter ended at +14%.

Growth in all business lines, with +32% for Optical Transport

Boosted by the continued success of WDM systems, Optical Transport activity posted another quarter of strong growth, totaling +32% vs. Q1 2022, in continuity with FY 2022 (+29%).

Access solutions reported quarterly growth of +2%. It should be noted that growth in France remained brisk, in the double digits.

The share of Software & Services represented 14% of quarterly revenue, versus 15% in FY 2022, considering a particularly high basis for comparison (up +64% in Q1 2022).

Record sales growth in North America: +86%, representing 30% of revenue

This past quarter was characterized by similar growth in France and international business, amounting to +15%.

The share of international activity accounted for 67% of revenue in Q1 2023, compared to 64% for FY 2022.

In North America, Ekinops achieved record quarterly growth of +86% in Q1 2023 (+79% in US dollars). For the first time, on a quarterly basis, this region represented 30% of Group sales. This vigorous momentum was underpinned by highly sustained growth for Optical Transport solutions, including significant deliveries to an important US service provider that covers 16 states and selected Ekinops to scale and level up the reliability of its fiber network.

EMEA (Europe, excluding France, the Middle-East and Africa), which represents 34% of the Group's activity, posted a decline of -7% in its quarterly sales. Considering the basis for comparison (up +21% in Q1 2022), this trend is not indicative of the growth levels expected for the region on a full-year basis.

Asia-Pacific reported a -40% decline which is also immaterial since it follows a +113% increase in sales over Q1 2022. Asia-Pacific accounted for 3% of the quarter's business volumes.

Lastly, in line with FY 2022, Ekinops continued to generate sharp growth in France. Sales increased steadily by +15% in the domestic market, representing 33% of quarterly revenue. This trend reflects the double-digit growth posted for Optical Transport and Access solutions alike in France.

2023 guidance confirmed

Ekinops has made an excellent start to FY 2023 and confirms its 2023 financial targets:

revenue growth of more than +12%;
EBITDA margin between 15% and 19%, including human and technological investments to support its growth.

In terms of external growth, Ekinops reaffirms its ambition to complete at least one transaction during the year, favoring a non-dilutive source of financing.

All press releases are published after Euronext Paris market close.

More information on Ekinops website: https://www.ekinops.com/

All press releases are published after the close of trading on Euronext Paris.

EKINOPS Contact
Didier Brédy
Chairman and CEO
[email protected]

Investors
Mathieu Omnes
Investor relation
Tel.: +33 (0)1 53 67 36 92
[email protected]

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SOURCE Ekinops