PARIS, March 5, 2024 /PRNewswire/ — EKINOPS (Euronext Paris – FR0011466069 – EKI), a leading supplier of telecommunications solutions for telecom operators and businesses, reports its FY 2023 financial statements (for the period ended 31 December 2023), as approved by the Board of Directors on 4 March 2024. The statutory auditors have finished auditing the consolidated financial statements and the certification report will be issued shortly.
m€ – IFRS
2022
2023
Change
Revenue
127.6
129.1
+1 %
Gross margin
67.6
67.3
n.s.
As a %
53.0 %
52.1 %
Operating expenses
58.4
62.3
+7 %
EBITDA1
22.6
18.6
-18 %
As a %
17.7 %
14.4 %
Current operating income (EBIT)
9.3
5.1
-45 %
Operating income
8.8
3.6
-59 %
Consolidated net income
12.0
3.6
-70 %
As a %
9.4 %
2.8 %
1 EBITDA (Earnings before interest, taxes, depreciation, and amortization) corresponds to current operating income restated for (i) amortization, depreciation and provisions and (ii) income and expenses linked to share-based payments (see appendices).
2023 revenue of 129.1 m€, up +1%
In 2023, Ekinops’ consolidated revenue stood at 129.1 m€, up +1% from the previous year, and +2% at constant exchange rates.
H2 2023 was harshly affected by deteriorated market conditions in the Access business line, against a backdrop of economic slowdown and a high level of equipment inventories at operators. Access solutions fell by -15% over the year (vs. +20% in 2022).
Driven by numerous commercial successes and customer wins, the Optical Transport business line posted strong growth of +27% in 2023, underpinned by operators’ bandwidth needs and the success of Ekinops’ WDM solutions.
Revenue generated by Software & Services rose by +12% in 2023, driven by sales of network virtualization solutions, SD-WAN solutions and services. Software & Services accounted for 17% of Group revenue in 2023, vs. 15% a year earlier.
International sales increased by +8%, while business in France declined by -11%. International sales accounted for 68% of total business in 2023 (vs. 64% in 2022), of which 25% in North America (+6%) and 41% in EMEA (Europe, Middle East and Africa) (+23%).
EBITDA margin[1] of 14.4% in 2023
In this complex economic environment, gross margin amounted to 67.3 m€ in …