Riga, 2016-11-16 10:01 CET (GLOBE NEWSWIRE) -- 1–9/2016 highlights:
- Revenue 920 million USD (824 million EUR)
- Gross profitability 4%
- Gross profit 38 million USD (34 million EUR)
- Net profit 6,4 million USD (5,7 million EUR)
In 9-month period ELKO Group has achieved revenue growth by 11% year-on-year, showing 920 million USD (824 million EUR) revenues compared to 842 million USD (756 million EUR) in 2015.
Positive growth is observed in all markets. The most rapid in Central and Eastern Europe, where ELKO Group turnover increased by 52%, reaching 371 million USD (332 million EUR). ELKO Group in Baltics achieved 12% growth, reaching 77 million USD (69 million EUR). In the third quarter in the CIS region, after a long and deep downturn in the IT industry, ELKO Group managed to increase its turnover by 15% compared to the same period in 2015, thereby reducing the total 9-month turnover difference over the previous year, respectively, reaching 490 million USD (439 million EUR), which is only about 7% less than in 2015, 9 months.
Achieved the planned gross profitability of 4% and a gross profit of 38 million USD (34 million EUR).
9-month period closed with 6.4 million USD (5.7 million EUR) in net profit, which is less compared to the exceptionally high profit in the 9-month of 2015, which amounted to 15.9 million USD (14.3 million EUR).
About ELKO Group
ELKO Group was founded in 1993 and is one of the largest IT product wholesalers and IT solutions and services distributors in Eastern Europe, now also actively expanding to Central Asian market. ELKO represents more than 120 IT vendors and sells their goods to more than 6500 retailers, local computer producers and system integrators. ELKO offers more than 20 000 product titles from the most famous vendors - Acer, Apple, Asus, Dell, HGST, Intel, Kingston, Lenovo, Microsoft, Seagate, Supermicro, Western Digital and others. At the moment, more than 700 people are employed with ELKO. ELKO Group belongs to several legal entities and investment fund Amber Trust.
Further information: http://www.elkogroup.com
Janis Kirsis
Head of Treasury
ELKO Grupa AS
4, Toma Street
Riga, LV - 1003, Latvia
Phone: + 371 6709 2357
e-mail: janis.kirsis@elkogroup.com
