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Ekinops' Financial Performance and Leadership Changes in 2025

Ekinops, a respected provider of telecommunication solutions for enterprises and telecom operators, recently announced its consolidated revenue for the third quarter of 2025. As reported on October 14, 2025, the company experienced a notable decline in revenue, totaling 79.5 million euros for the first nine months of the fiscal year, representing a decrease of 10% from the previous year. This downturn is particularly pronounced when comparing the third quarter results; Ekinops recorded revenue of 22.3 million euros in Q3 2025, down 27% when stacked against Q3 2024.

A significant contributing factor to these figures has been Ekinops’ relationships with its largest clients. A noticeable decline in performance from this key customer, who alone saw a 32% drop in sales, has heavily impacted Ekinops’ revenue. Nevertheless, the company's revenue excluding this major client saw a slight increase of 2%, highlighting varied performance across its client base.

The specifics of the revenue analysis illustrate that Ekinops’ Access solutions experienced a 17% decline over the nine months, primarily due to reduced activities in France, where revenue fell by a significant 22%. Despite these challenges, the Optical transport segment showed resilience, with a minor decline of 3%. Although revenue growth was recorded in some European regions, including 11% in Europe and 2% in France, North America faced a more challenging landscape, experiencing an 18% drop attributed to reduced investments from two major clients amidst industry consolidation.

In contrast to the declines in Access solutions, Ekinops reported robust performance in its Software and Services segment, which grew by an impressive 32%, comprising 23% of the company's total revenue for the nine-month period—up from 18% at the end of fiscal year 2024. This growth was driven by the incorporation of Olfeo, a cybersecurity software provider that was consolidated into Ekinops’ operations on June 1, 2025.

When analyzing regional performance, France saw a 14% decrease in nine-month revenue, heavily impacted by declining access solutions. In North America, a 14% drop mirrored the performance seen in France, while European markets, excluding France, remained stable albeit with a small 2% decline. Notably, regions classified as the Rest of the World, such as Africa and the Middle East, showed a positive trend with a 10% revenue increase, bolstered by Optical transport solutions.

Leadership Transition at Ekinops

In addition to the concerning financial updates, Ekinops is undergoing significant changes in its leadership. Didier Brédy previously served as Chairman and CEO but has stepped down from these roles. Philippe Moulin, the former Chief Operating Officer of Ekinops, has been named the interim Chief Executive Officer, effective immediately. His appointment is aimed at ensuring operational continuity while the board seeks a permanent CEO, assessing both internal and external candidates.

Moulin's extensive experience in telecommunications, stretching back over 30 years, is poised to benefit Ekinops in this transitional period. His previous roles include a critical position at OneAccess, where he successfully managed operations during its acquisition by Ekinops in 2017. His knowledge and experience within both international markets and customer relationships are expected to guide Ekinops through its current challenges and into future growth.

Furthermore, the board has appointed Hugues Lepic, CEO of Aleph Capital—the largest shareholder of Ekinops with a capital holding of 11.8%—as the interim Chairman. This leadership shuffle reflects ongoing efforts to bolster Ekinops’ governance and strategic direction as it navigates through its corporate transformation.

The board expressed utmost gratitude to Didier Brédy for his dedicated service and pivotal contributions to Ekinops since 2005, which have been instrumental in establishing the company as a leading force within the telecommunications landscape in Europe.

Looking Forward

With a forecasted slow recovery in the telecommunications sector led by innovations in AI and Cloud technologies, Ekinops anticipates persistent challenges due to the existing economic climate and ongoing geopolitical tensions. The company indicated that it might fall short of its target revenue between 110 million euros and 120 million euros for 2025. In response to this outlook, Ekinops aims for sequential growth in the fourth quarter compared to the third, while reinforcing its cost control measures.

The organization is committed to maintaining the momentum of its strategic 'Bridge' plan. This framework focuses on innovation, customer satisfaction, market expansion, and sustainable value creation, especially in their cybersecurity and data center interconnection initiatives for 2026 and onward.

As industry consumers await Ekinops' next steps, the company's leadership transition and financial adjustments will be closely monitored as indicators of its ability to adapt and potentially thrive in these evolving circumstances.