In a still challenging global ICT market scenario, Esprinet, a leader in advisory services, sale, and rental of technological products and information security, has reported a continued increase in its gross profit margin in the third quarter of the year. This achievement is a result of its strategic focus on high-margin segments through the V-Valley division.
Third quarter results for 2023:
- Contract sales with customers: 839.1 million euros, a decrease of 19% (Q3 22: 1,039.1 million euros).
- Adjusted EBITDA: 11.7 million euros, a decrease of 29% (Q3 22: 16.4 million euros).
- Net income: 2.0 million euros, a decrease of 62% (Q3 22: 5.3 million euros).
Cumulative results as of September 2023:
- Contract sales with customers: 2,744.9 million euros, a decrease of 15% (9M 22: 3,217.7 million euros).
- Adjusted EBITDA: 36.6 million euros, a decrease of 33% (9M 22: 54.4 million euros).
- Adjusted net income: 8.4 million euros, a decrease of 66% (9M 22: 25.0 million euros).
Alessandro Cattani, CEO of Esprinet, emphasized the importance of 2023 as a period of transition and acceleration in the execution of the company’s strategy, aimed at strengthening the offering of high-margin product lines. The functional restructuring of V-Valley, a division dedicated to Solutions and Services, has significantly contributed to the overall increase in the Gross Profit Margin, along with the progressive optimization of costs.
Outlook for 2023
Despite the uncertain global context and the challenging ICT sector, Esprinet continues to focus on high-value added product and customer segments and cost containment. The company maintains its adjusted EBITDA guidance for 2023 in the range of 70 to 80 million euros, aiming for values similar to the 2020 financial year but with a much higher Gross Profit Margin.
About Esprinet
Esprinet is a key enabler in the technological ecosystem, promoting technological democratization with a strong commitment to environmental and social sustainability. With a wide range of advisory services, information security products, and sales or rental services through an extensive network of professional resellers, Esprinet is the leading group in Southern Europe (Italy, Spain, and Portugal), ranking fourth in Europe and among the top ten globally.
With over 1,800 employees and a turnover of 4.7 billion euros in 2022, Esprinet (PRT:IM – ISIN IT0003850929) is listed on the Italian Stock Exchange, Borsa Italiana.
Information: V-Valley Press Release.