September 22, 2019

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ELKO Group sales climb 11% in 2018

by Stuart Wilson, Tuesday 28 May 2019

Svens Dinsdorfs, CEO of ELKO Group
Svens Dinsdorfs, CEO of ELKO Group

Emerging markets distributor ELKO Group achieved annual sales of US$1.768 billion in 2018 – up 11% year-on-year. The company attributed the growth to expansion in new markets, broadening of its product range and a successful operating strategy in existing markets. Gross profits climbed 6% to US$83m. Net profits fell 32% to US$9.4m, representing a net margin of 0.55%.

Svens Dinsdorfs, CEO of ELKO Group, said: "Despite a challenging geopolitical situation in the CIS region, and increasing competition in all ELKO target markets, we have attained an 11% revenue increase.”

“The key events of 2018 were our geographic expansion, the maintenance of efficient and cost-effective distribution channels, the constant effort to develop our portfolio and our focus on added-value products, services and solutions. We predict that the growth rate will not slow down in 2019 either," he added.

In 2018, ELKO carried out a number of purchase transactions, the most significant of which was the acquisition of the Absolut trading house in Russia. This allowed ELKO to offer household appliances and electronics to a new market. In Slovakia WESTech, a branch of ELKO Group, acquired shares of retailers Arašid and MP3.sk, expanding its portfolio of games, consoles, mobile phones and phone accessories.

As part of an initiative to broaden its business horizons ELKO Group started operating in the Polish market in 2017 recruiting a local sales team for distributing IT and consumer electronics goods. A reliable sales team with systematic business procedures was established within a year.

Dinsdorfs added: “It is important to highlight our focus on improving internal processes – last year we updated several systems, we invested in automated and effective e-commerce, the operational system JD Edwards and others. ELKO stands out with the knowledge and experience we have accumulated over 26 years of operation.”

He added: “We believe that our role as a distributor is to use this knowledge and make it accessible to our customers. That means constant technological development, learning and growing by utilising the knowledge of our employees and by following business trends. We are confident that all of this will help improve our daily operations and the customer service we provide.”

ELKO Group is one of the region’s largest distributors of IT and consumer electronics products and solutions representing 400 IT manufacturers. ELKO Group 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 31 countries across Europe and Central Asia.

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