(AOF) – In the third quarter of its 2023 financial year, Ekinops recorded a consolidated turnover of 27.8 million euros, down 15% compared to the same period a year earlier. At constant exchange rates, quarterly turnover was down 13%. At the end of the first nine months of the 2023 financial year, consolidated turnover stood at 98.8 million euros, a total growth of +3% compared to the same period last year. , which constituted a high basis for comparison (+28% growth in 2022).
At constant exchange rates, nine-month growth in 2023 stands at 4%.
In addition to the very high base effect (+36% growth in the third quarter of 2022), the past quarter took place in a less buoyant market environment marked by a drop in demand amid a macroeconomic slowdown. In this context, sales of Access equipment were particularly penalized, particularly for the France and Asia Pacific zones.
On the outlook side, taking into account the performance in the third quarter, Ekinops is lowering its 2023 annual financial objectives. The group is now targeting single-digit growth in activity for the 2023 financial year, compared to annual growth above +12% previously targeted. .
It expects an EBITDA margin now between 13% and 17%, compared to a range of 15% to 19% previously targeted.
In terms of external growth, Ekinops still aims to complete an operation in the coming months, by favoring a non-dilutive financing method.
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Downgraded outlook for smartphones
Faced with a decline in consumer purchasing power, participants in the global smartphone market had to face sales falling by 14% in the first quarter of 2023 compared to the same period in 2022.
According to IDC, global sales will be lower than expected in the second half, showing a decline of 3.2% compared to 2022. A drop of 1.1% was previously estimated. The Gartner firm predicted from the start a decline of 4% in the market. Chinese brands are particularly impacted. Very exposed to their domestic market, Xiaomi, Oppo and Vivo have already lost market share in 2022 and the situation is expected to continue this year.
Apple and Samsung are doing better because, even if sales volumes drop, these players can play on prices and maintain their business more thanks to high-end positioning.
The market situation is expected to improve in 2024: growth is expected to become weak but continuous.