Ekinops: Revenue of €63 Million for the First Nine Months of 2018

Pro forma growth accelerated to 32% in Q3

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Oct 18, 2018, 01:30 ET

PARIS, Oct. 18, 2018 /PRNewswire/ -- EKINOPS (Euronext Paris - FR0011466069 – EKI), a leading supplier of telecommunications solutions for telecom operators, has published its consolidated revenue for the third quarter of 2018. OneAccess and its subsidiaries have been fully consolidated within the Group financial statements since October 1, 2017.

€m - IFRS - unaudited	2017	2018	Change	Pro forma change
Q1 revenue	4.40	18.71	+325%	+1%
Q2 revenue	6.24	23.38	+275%	+17%
Q3 revenue	4.22	20.93	+395%	+32%
9-month revenue	14.85	63.02	+324%	+16%

Ekinops posted Q3 2018 consolidated revenue of €20.93 million, up 395% as reported from €4.22 million in Q3 2017. On a pro forma basis, with the consolidation of OneAccess and its subsidiaries backdated to January 1, 2017, Group quarterly growth came to 32%.

For the first nine months of the financial year, Ekinops consolidated revenue came to €63.02 million, up 324% in total from €14.85 million last year. On a pro forma basis, nine-month growth came to 16%.

In line with the first half trend, sales momentum was sustained by key accounts, with 34% growth among the Top 10 customers for the first nine months of 2018 (compared pro forma to the first nine months of 2017). Top 10 customers accounted for 60% of Group business during the first nine months of 2018.

Geographically, France and EMEA (Europe, Middle East & Africa) excluding France remain the Group's core regions, accounting respectively for 44% and 37% of YTD sales. The Americas accounted for 12% of nine-month sales, while Asia Pacific contributed 7%.

Confirmation of end September revised guidance for 2018

The third quarter reflected continuing strong business momentum in all regions.

In this context, the Group is fully confident of achieving its 2018 annual guidance, which was revised upwards on publication of the first-half results at the end of September: consolidated annual revenue of over €82 million (versus 2017 pro forma revenue of €73.8 million) and an EBITDA margin of at least 5%, allowing for current price pressures on certain electronic components and planned investments in R&D staff over the second half of 2018 in preparation for future growth.

2018 financial calendar