January – December 2024 highlights
- Revenue USD 1 140 million (EUR 1 053 million), a decrease of 0.66% year-on-year
- Gross profitability 7.7%, an increase compared to 7.3% in 2023
- Gross profit USD 87.8 million (EUR 81.1 million), an increase of 5.3% year-on-year
- Net profit USD 12.6 million (EUR 11.6 million), a decrease of 3.2% year-on-year
Akciju Sabiedrība ELKO Grupa consolidated turnover during the 12 months of 2024 reached USD 1 139.8 (EUR 1 053.3m), which is a marginal 0.66% decrease over the corresponding period in 2023.
While core segments remained flat or slightly declined, targeted strategies in consumer electronics, mobile communications, and new vendor partnerships drove success, with some vendors achieving even triple-digit growth.
Despite the complicated tax environment in some geographies, like Romania introducing a minimum turnover tax of 1%, ELKO maintained profitability through cost control and regional growth, allowing it to achieve and slightly exceed the company’s annual target.
In order to further strengthen ELKO's offering to the market, several M&A initiatives were undertaken, which are likely to yield positive results in 2025.
A significant event after the reporting period – on the 21st of February, 2025, Akciju Sabiedrība ELKO Grupa signed a Sales and Purchase Agreement for the purchase of 100 percent of the shares in Deltaco Baltic UAB, a Lithuanian subsidiary of Aurdel Sweden AB, a part of DistIT Group, as part of its strategic expansion into major domestic appliance distribution. The sale price amounts to EUR 3 million, and the transaction is subject to customary regulatory approvals.
About ELKO Group
The ELKO Group is one of the region's largest distributors of IT and consumer electronics products and solutions, representing 350 world-leading 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 13 countries in Central Eastern Europe and the Nordics. Established in 1993, Latvia.
More information:
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