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ELKO Group unaudited consolidated financial statement for 2017

The acquisition of new markets, expansion of the product range and successful operations in existing markets have enabled the ELKO Grupa to grow faster than the market as a whole.
  • Revenue USD 1 587 million (EUR 1 403 million), up by 8.7% year-on-year
  • Gross profitability 4.8%, up by 1 percent point year-on-year
  • Gross profit USD 77 million (EUR 68 million), up by 39% year-on-year
  • Net profit USD 14 million (EUR 12 million), up by 64% year-on-year
  • Central and Eastern Europe – up by 4.7%, reaching USD 518 million (EUR 459 million)
  • CIS region – up by 5.3%, reaching USD 902 million (EUR 797 million)
  • Baltic States – up by 9.3%, reaching USD 118 million (EUR 105 million)
  • Nordic countries – turnover for July-December was USD 48 million (EUR 42 million)
During the first half of 2017, ELKO went through a rebranding process by developing new positioning and a visual identity of its brand. The new logo and the story behind it are the first visible evidence of how ELKO is integrated into the transformation of the industry, improving efficiency and ensuring sustainable development.

At the beginning of July 2017, the acquisition of 85% of shares in one of the leading distributors of hardware and electronics in Sweden, Gandalf Distribution AB, was completed. Sales also began in the Polish market by attracting a local sales team for IT and consumer electronics. Starting with the third quarter of 2017, consolidated reports include results for both Gandalf Dstribution AB and Poland.

The key factors driving the Company’s growth were significant expansion of the product portfolio, and the addition of new distribution areas to existing distribution agreements. In 2016, the ELKO Group added about 50 new manufacturers, last year – more than 30.
The ELKO Group is one of the region's largest distributors of IT products and solutions, representing 180 IT manufacturers, and providing a wide range of products and services to more than 7 000 retailers, local computer manufacturers, system integrators and enterprises within various sectors in 30 countries across Europe and Central Asia. The Group’s turnover in 2016 amounted to USD 1 460 million.