EKINOPS (Euronext Paris - FR0011466069 – EKI), a leading supplier of telecommunications solutions for telecom operators, has published its revenue for the third quarter of 2019.
In the third quarter of 2019, EKINOPS generated consolidated revenue of €22.9 million, entailing organic growth of 9.3% (up 7.5% at constant exchange rates) compared to third quarter 2018.
Q3 sales continued to grow steadily despite the exceptionally strong performances recorded in 2018. As a reminder, Q3 2018 accounted for 25% of total business volumes for the year, although it is generally a sluggish period, particularly in EMEA.
Nine-month revenues amounted to €67.9 million, a solid increase of 7.7% (up 6.3% at constant exchange rates) over the period.
Q3 2019 was marked by a slight acceleration in growth, particularly on the international market where sales momentum was highly sustained across all regions.
EKINOPS recorded robust third quarter growth of 31.8% on the international market, including a spectacular 74.3% revenue surge in the United States. The Group confirms its expectations that North America will be the fastest growing region in 2019, with full-year growth at least equal to the 33.5% nine-month revenue growth rate.
International business over the nine months ended September 30, 2019 accounted for 66% of Group revenue (vs. 58% in FY 2018): 40% for the EMEA region (Europe, Middle East & Africa excluding France), 15% for the Unites States and 11% for the APAC region (Asia-Pacific). France accounted for the remaining 34% of nine-month revenue.
In the short term, strong momentum driven by global key accounts in a number of Ekinops’ main focus areas (optical transport at 200Gb/s, migration to the new OneOS6 operating system, virtualized functions, etc.) confirms the Group’s outlook for the end of the year and thereafter.
In terms of operating results, the Group confirms expectations of an FY 2019 gross margin towards the upper end of the normative range (50 to 55%) and operating expenses comparable to 2018, excluding the impact of the July OTN technology acquisition, which will generate full-year costs of around €2 million excluding depreciation and amortization.
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