(BFM Bourse) – The company’s Brazilian subsidiary has won commercial success with Swedish telecommunications equipment specialist Ericsson. The amount of the contract is estimated between 1.4 million and 2 million euros over two years.
The Brazilian subsidiary of Geci International has another commercial success. After winning a contract worth around 1 million euros at the end of July with the Chinese telecommunications group ZTE, AS+Do Brasil is doing it again, this time with the Swedish company Ericsson.
This new contract concerns the installation and commissioning of a 4G and 5G wireless network infrastructure to improve the availability of broadband in Brazil. In terms of amount, this contract is valued at between 7 million and 10 million Brazilian reals over two years, or between 1.4 million and 2 million euros. A significant success on the scale of Geci International, whose revenues stood at 18.3 million euros for the 2021-2022 financial year ended last March.
Jump in sales of the Brazilian subsidiary
“This success confirms the solidity of the Group’s positions in Brazil to seize the immense potential linked to the installation of entire fleets of telecommunications equipment or the extension of network coverage”, assured the company in a statement. communicated.
AS+Do Brasil is currently taking advantage of this trend, having seen its sales jump by 80% over the 2021-2022 financial year.
This major contract boosts the Geci International share. On the Paris Stock Exchange, the group founded in 1980 and listed on Euronext Growth won 9% after having taken more than 20% during the day. An increase that should obviously be put in perspective of the low nominal of the action, which is traded at 0.001 euro, and its market capitalization of around 2 million euros. As well as with the fall of the title, which has plunged nearly 90% since the start of the year.
Julien Marion – ©2022 BFM Bourse
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