Q3 2023 Trading Update

Computacenter PLC

30 October 2023

 

Computacenter plc

Incorporated in England

Registration number: 03110569

LEI: 549300XSXUZ1I19DB105

ISIN: GB00BV9FP302

FOR IMMEDIATE RELEASE

Computacenter plc

Q3 Trading Update - 30 October 2023

Computacenter plc ('Computacenter', the 'Company' or the 'Group'), a leading independent technology and services provider, today publishes a trading update, based on unaudited financial information, for the third quarter to 30 September 2023 ('the quarter').

Overview

Our performance for the Group during Q3 was in line with our expectations. Q3 followed a broadly similar pattern to the first half with Germany and the US performing strongly, while the UK remained difficult.

Following the exceptional growth achieved in the first half, as anticipated, Technology Sourcing volumes normalised during the quarter as some of our high revenue, low margin projects were completed. We remain encouraged by the sales pipeline for Q4.

Services revenue continued to grow during the quarter and while inflationary pressures persist, we continue to manage our margin recovery effectively.

We continue to make good progress with our targeted strategic investments to enhance Computacenter's long-term competitive advantage.

Following a strong cash performance during the first half as industry supply chains normalised, our inventory has reduced further and we have continued to generate good levels of cash during Q3, further reinforcing our balance sheet strength.

Group outlook

Notwithstanding that Q4 is our largest quarter and much remains to be done, we continue to believe FY 2023 will be another of year of progress with growth in profitability.

Looking further ahead, with our strength in Technology Sourcing, Professional Services and Managed Services, and focus on retaining and maximising customer relationships over the long term, we believe that we are well positioned to compete and gain further market share.

Our next scheduled trading update is the announcement of our Pre-close Trading Update on 24 January 2024.

Enquiries:

Computacenter plc
Mike Norris, CEO	[phone]
Tony Conophy, CFO	[phone]
Christian Cowley, Investor Relations	[phone]
Teneo
James Macey White / Matt Low	[phone]

Notes to editors:

About Computacenter

Computacenter is a leading independent technology and services provider, trusted by large corporate and public sector organisations. We are a responsible business that believes in winning together for our people and our planet. We help our customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business. Computacenter is a public company quoted on the London FTSE 250 (CCC.L) and employs over 20,000 people worldwide.

 

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