25 Nov, 2019
ELKO Group Interim Report January–September, 2019
Product portfolio development and recent M&A deals provide an increase in turnover of 4.2%. Constant focus on efficiency results in higher gross profitability.
January – September 2019 highlights
- Consolidated turnover USD 1 185 million (EUR 1 054 million), up by 4.2% year-on-year
- Gross profitability 5.2%, an increase comparing to 5.1% in 2018, 9 months.
- Gross profit USD 61.6 million (EUR 54.9 million), up by 6.9% year-on-year
- Net profit USD 7.6 million (EUR 6.7 million), up by 37.7% year-on-year
Significant events during the reporting period
After two years of successful operations in the Nordic region, Gandalf Distribution AB became 100% owned by ELKO Grupa, with the purchase of the remaining 15%.
About ELKO Group
ELKO Group is one of the region's largest distributors of IT and consumer electronics products and solutions representing 400 IT manufacturers. The company provides a wide range of products and services to more than 10 000 retailers, local computer manufacturers, system integrators and enterprises within various sectors in more than 30 countries across Europe and Central Asia. The Group’s turnover in 2018 amounted to USD 1 768 million (EUR 1 497 million).
02 Jun Latvian companies unite in the fight against organized crime; at least 10 warehouses have been burglarized in recent years 12 May Due to a large theft of IT products, ELKO invites everyone not to buy or re-sell stolen goods 05 May ELKO Group closes 2019 with high turnover and profitability indicators