Slides
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February 11 th 2026 Analysts Presentation
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Welcome
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AGENDA 03 01 02 Outlook Strategic update FY 2025 performance 04 Q&A
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Angel Benguigui Chief Executive Officer Strategic Update
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2025 in a nutshell: continued effective Group transformation as we progress on the One Econocom plan Econocom – FY 2025 results 6 Strengthening the sales model Econocom Audiovisual Solutions Confirmed #1 position in Europe thanks to tactical acquisitions Around our strategic verticals: Workplace, AV, Infrastructure & Financing Solutions +4.3% of which 2,7% organic Pursuing the growth trajectory
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Profitability improvement with higher - value products Confirmed strategy and focus on organic & profitable growth Econocom – FY 2025 results 7 Organic growth focus complemented by selective & tactical M&A Turning technology into business and operational advantage Supported by the improvement & convergence of our tools Enhanced AI - based customer approach Rationalization of tools Supported by the ongoing salesforce strengthening > 20% net salesforce growth since 2024 > 50 new agents in 2025 Supported by the gradual coverage towards our strategic verticals Sales management per geography One Portfolio deployment
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8 Econocom - FY 2025 results Shaping the organization to deliver the transformation: next stage of our governance evolution Comex team ensuring consistent execution supported by reinforced leadership team Recruitment of new talents across all levels of the organization Support functions as business partners Continued evolution of our organization for more operational leverage Improved collaboration to support margins improvement Gradual monitoring of business by strategic vertical
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Philippe Renauld FY2025 results Managing Director Finance and M&A
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€2 802m €2 923m 2024 2025 €111m €118m 2024 2025 FY2025 results: increasing growth despite slower dynamic over the year and stable profitability rate 10 Econocom – FY 2025 results +4.3% (1) Restated for changes of scope of discontinued operations Growth increase vs last year at +4.3% , driven by Southern Europe & Germany and highlighting the relevance of our strategy +2,7% organic growth Revenue Operating margin Profitability rate stable at 4.0 % in a context of Group transformation and uncertain macro environment (1) (1) +6.9%
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€1 076m €1 127m 2024 2025 €47m €60m 2024 2025 11 Econocom – FY 2025 results +4,7% (1) Restated for changes of scope of discontinued operations Solid growth at +4,7% , across all geographies yet with an erosion of the momentum in the 2 nd semester +3,1% organic growth Revenue Operating margin Profitability rate significant increase at 5.3 % benefitting from operational improvements and leverage (1) (1) Technology Management & Financing Continued growth and net margins improvements
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€1 206m €1 271m 2024 2025 €39m €34m 2024 2025 12 Econocom – FY 2025 results 5.3% (1) Restated for changes of scope of discontinued operations Return to growth at +5.3% , thanks to a strong 2 nd semester allowing to grow at +2.9% organically and boosted by the acquisitions in Audiovisual Revenue Operating margin Profitability rate decrease at 2.6 % impacted by challenging markets pressuring margins to keep our positions (1) (1) Products & Solutions Return to growth but pressure on margins
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€520m €526m 2024 2025 €25m €25m 2024 2025 13 Econocom – FY 2025 results 1.1% (1) Restated for changes of scope of discontinued operations Total growth at +1.1% , fully organic, impacted by the 2 nd half of the year Revenue Operating margin Profitability rate slight erosion at 4.7 % (1) (1) Services Slight growth with maintained margins
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Revenue 2,802.4 2,923.3 Operating margin 110.5 118.1 Operating profit 87.6 98.9 Net profit from continuing operations 37.3 53.2 Net profit 37.7 6.4 FY 2025 simplified income statement Growth trajectory underpinned by our strategy and business mix (portfolio effect) (in €m) FY 2024 (1) FY 2025 (1) Restated for changes of scope of discontinued operations 14 Econocom – FY 2025 results Growing operating margin demonstrating a resilient operational performance O perating profit including reduced exceptional items in conjunction of the transformation process Strong increase in profit from core business (from 1.3% to 1.8% of revenue) Impact of Synertrade €37m impairment (€10m in H1 and €27m in H2) and €10m losses
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15 Econocom – FY 2025 results Reduction of our Net Financial Debt (1) (1/2) 155 - 12 - 22 86 - 24 - 23 - 19 - 41 - 8 - 16 - 17 - 36 - 100 - 50 0 50 100 150 - 181 22 88 - 11 - 27 - 10 - 96 N - 1 In cluding BB Net (January 25) and AV deals announced in July 2025 112 - 15 - 23 - 16 - 16 - 19 Free Cash Flow = €142m Free Cash Flow = €45m Including - 10m € S ynertrade (1) Net Financial Debt for continued activities excluding impact of IFRS 16 on leases and rentals for which Econocom is a tenant - 96
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Off balance sheet factoring & reverse factoring of €318m as of 31 December 2025 (vs €263m as of December 2024) (1) Net Financial Debt for continued activities excluding impact of IFRS 16 on leases and rentals for which Econocom is a tenant 16 Econocom – FY 2025 results Bonds Cash at 31.12.2025 517 - 10 - 369 - 174 - 36 Short term debt Other corporate financing NFD 31.12.2025 330 ( 25) (201) ( 199 ) (96) Numbers as of 31.12.2024 Reduction of our Net Financial Debt (1) (2/2)
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2 .5 million hardware products under maintenance (vs 2.3m in 2024) Econocom Group 76/100 rating (+2 vs 2024) 93/100 2025 gender pay gap Group (stable vs 2024) 17 Econocom – FY 2025 results ESG achievements in 2025 Clients Empower sustainable digital transformation People Commit to be an employer of choice Environment Contribute to positive impact ~750k refurbished or recycled IT devices ( vs 530k in 2024) Approved SBTi targets 5,3% people with disabilities working at Econocom ( vs 4,6% in 2024)
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Angel Benguigui Chief Executive Officer Outlook
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19 Econocom - FY 2025 results 2025 confirms the relevance of the One Econocom plan and sets our 2026 priorities Pivot organization toward our four strategic verticals Continued growth supported by strengthening salesforce Net debt reduction 1. Commitment to organic growth Selective and tactical inorganic growth 2. Acceleration of group transformation to fuel profitable growth 3. Focus on cash - flow generation while keeping disciplined financial approach 2025 take - away… …setting our 2026 action plan
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20 Econocom - FY 2025 results Guidance 2026 - 2027 - 2028 guidance: 2 - 3% revenue growth p.a.
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Q&A
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Econocom – Résultats annuels 2022 Contact thomas.bangratz @econocom.com groupeeconocom@havas.com Investor and Shareholder Relations Media Relations