| Emitents | ELKO Grupa AS (549300TNFQRZUIMUKG02) |
| Veids | Finanšu pārskati |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2008-11-20 18:44:43 |
| Versijas komentārs | |
| Teksts |
One of the leading IT products wholesalers in Eastern Europe, the largest Latvian company JSC ELKO Grupa during the first nine months of the year 2008 has worked with USD 860.3 million turnover. As compared to the same period in 2007, the growth has reached 33%, however, due to dramatic fall of US dollar, the actual growth in Latvian Lats amounted to 18%. Profit of JSC ELKO Grupa after taxes for this period was 13.1 million US dollars. The company profitability for the first nine months of the year 2008 was 1.5 %.
„We also experienced worsening of the economic situation in this quarter, and the figures of growth are not as high as we expected after the results of the first quarter. However, considering significant decrease of growth in demand and general economic situation, I believe that the achieved results are good, and we have successfully managed to mitigate the affect of the crisis, thanks to wide geography of the company’s activities. Now we are ready for different scenarios of economic development, and are looking at current situation positively – decrease of sales will not be long, as IT technologies are becoming a more and more considered investment in development of every company,” such was the comment on financial figures for the first nine months by Director of JSC ELKO Grupa Janis Casno.
Financial figures of JSC ELKO Grupa for the first nine months of the year 2008 have also been affected by some significant events. From May this year the company bonds for the amount of 6.5 million Euros are listed at Riga Stock Exchange. In its turn, in June this year JSC ELKO Grupa became an official wholesaler in the Baltic States of IT products of „Micro-Star International” manufacturer and „TomTom” navigation tools manufacturer. In October this year ELKO Grupa became the first official distributor in the Baltic States of „Telsey” products, the world’s leading developer and manufacturer of network solutions and the leading smart cards supplier in Russia.
In 2008 JSC ELKO Grupa completed development of a common Baltic structure, as a result the functions of logistics, product management, marketing activities and warranty goods record-keeping have been centralized in Latvia. Such changes brought to considerable improvement of efficiency of the company’s work and competitiveness in the Baltic market.
ELKO Group
JSC ELKO Grupa was established in 1993. ELKO Grupa is Latvia’s largest enterprise, with a turnover last year exceeding 1 billion US Dollars. The company’s main activity is the wholesale of computer equipment and electronics in the Baltics, Central Europe and the CIS.
The company represents about 70 manufacturers and sells the goods to more than 6 300 retailers, local computer hardware manufacturers and system integrators. The ELKO Grupa offers more than 7 000 product items from the world’s famous suppliers – "Acer", "Intel", "Seagate", "Samsung", "Sony", and "Western Digital". At the moment, the company employs 330 people. JSC ELKO Grupa is owned by several private persons, as well as by AS „IT Investīcijas”, investment fund "Amber Trust", and investment funds related to "East Capital Asset Management".
Further information:
Kristine Saulriete
ELKO Group JSC
Director of Marketing and Communications
Telephone: + 371 6709 3214
Fax: + 371 6709 3299
E-mail: kristine_saulriete@elkogroup.com
www.elkogroup.com |
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