ELKO Grupa: ELKO Group Interim Report January-June, 2021

Demand for IT and consumer electronics products in the first half of 2021 stay
strong. 

Riga, 2021-08-20 09:45 CEST --
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. 

January - June 2021 highlights

 -- 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), increase of 39% year-on-year


About ELKO Group

The ELKO Group is one of the region's largest distributors of IT and consumer
electronics products and solutions, representing 400 IT 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 11 countries in Europe. 

More information:

www.elkogroup.com

LinkedIn: https://www.linkedin.com/company/elko-group

Facebook: https://www.facebook.com/elkogroup/

Twitter: @ELKO_Group

Instagram: elko_group


     Janis Kirsis
     Head of Treasury
     ELKO Grupa AS
     4, Toma Street, Riga, LV-1003, Latvia
     + 371 6709 2357
     [e-mail]

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