3 Step IT Group Announces 14.5% EBITDA Growth in Milestone Financial Year
24 April 2019
3 Step IT, announced an operating profit of €24.5 million in the company annual report, published today. Achieving 14.5% EBITDA growth over the course of 2018, the company also grew revenue by 11% to €675.8 million in 2018.
The 3 Step IT remarketing business contributed to this success, with the number of items handled up 13%, to 478,463 devices – this came on top of a 38% increase in items handled in 2017. With a rapidly growing smartphone rental business, part of the increase came from devices being returned when they were due for replacement; we also bought in more used devices to handle securely and sustainably.
Earlier this year, 3 Step IT announced plans for a joint venture with the European leader in asset finance BNP Paribas Leasing Solutions. Subject to gaining regulatory approval, the BNP Paribas 3 Step IT alliance will open for business during the second half of 2019. The new company will meet demand for more flexible and sustainable technology-as-a-service solutions throughout Europe.
Carmen Ene, CEO of 3 Step IT, said: “It has been a fantastic year: a good business performance, combined with broad recognition of the value added by our sustainable business model. Now our alliance with BNP Paribas will take our sustainable approach across Europe. In 2018 we built momentum; now we look forward to another successful year.”
3 Step IT’s consistent performance continued in 2018, and the new alliance promises more to follow. Read the full report below: