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4, Toma Street, Riga, LV-1003, Latvia

+371 6709 3230

ELKO Group Interim Report January–June, 2021

Akciju Sabiedrība ELKO GRUPA
Unaudited Consolidated Financial Statements
For 6 months ended 30 June 2021
Demand for IT and consumer electronics products in the first half of 2021 stay strong. However, the shortage in several product groups, especially smartphones, limits the market's ability to provide the required products. The distribution business has become more working capital-intensive than ever before, mainly due to larger prepayments made to manufacturers and increased inventory to secure product availability. Although circumstances were challenging, ELKO slightly increased sales compared to the outstanding results the year before and increment gross margins.
  • Revenue USD 914 million (EUR 759 million), up by 1.6% year-on-year
  • Gross profitability 6.6%, an increase comparing to 5.7% in 2020, 6 months
  • Gross profit USD 61 million (EUR 50 million), up by 17.6% year-on-year
  • Net profit USD 15 million (EUR 12 million), an increase of 39% year-on-year
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  2. ELKO Group Interim Report January–June, 2021