In Q2 2024, Ekinops, a leading provider of telecommunications solutions, reported consolidated revenue of €29.2 million, reflecting a 25% decrease compared to Q2 2023. This decline was anticipated and consistent across constant exchange rates. However, on a sequential basis, Q2 2024 revenue showed a slight improvement, increasing by 3% relative to Q1 2024.
For the first half of 2024, Ekinops’ revenue totaled €57.5 million, down 19% from H1 2023, with the trend remaining unchanged at constant exchange rates. Despite challenges in the Optical Transport segment, which saw a significant decline, the company experienced growth in its Access solutions and a stable performance in Software & Services, particularly in its SD-WAN solution.
- Key Financial Highlights: Q2 2024 Revenue : €29.2 million (down 25% year-on-year)
- Sequential Growth : Q2 2024 revenue up 3% from Q1 2024 H1 2024
- Revenue : €57.5 million (down 19% year-on-year)
- Access Solutions : Up 1% over H1 2024, driven by a 16% rebound in French sales
- Optical Transport Solutions : Down 41% over H1 2024
- Software & Services : Accounted for 17% of half-year revenue, with increasing recurring revenue
- Revenue by Region :France : Up 5%, representing 44% of total business volumes
- International : Down 31%, representing 56% of total half-year revenue
- North America : Sales down 31%, representing 22% of Group business
- EMEA (excluding France) : Sales down 32%, representing 32% of total business
- Asia-Pacific : Sales down 15%, with a 32% rebound in Q2 2024, representing 2% of Group business
- The downturn in Optical Transport solutions is attributed to cautious investment policies by operators with high inventory levels, a slowdown in internet traffic growth, and a wait-and-see attitude ahead of the new 800G optical solution launch. Meanwhile, Access solutions benefitted from inventory rebuilding by major customers, although not yet at normative levels.