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ELKO Group (ELKO Grupa AS) is an international, Latvian-based distributor of information technology (IT) and consumer electronics products in Europe and Central Asia.[1]
 | |
| Company type | Public |
|---|---|
| Industry | Electronics distribution |
| Founded | 1993 |
| Headquarters | Riga, Latvia |
Key people | Egons Mednis (President) Svens Dinsdorfs (CEO) |
| Revenue | US$1.883 billion (2019) |
6,581,703 Euro (2023)  | |
| Total assets | 181,627,416 Euro (2023) |
Number of employees | 1,500 |
| Website | www |
The company acts as a consultant to partners and as a wholesaler of computer and electronic products.[2] ELKO operates in 31 countries, with sales offices in 13 countries: Latvia, Estonia, Lithuania, Ukraine, Romania, Slovenia, Slovakia, Czech Republic, Hungary, Croatia, Sweden, Poland, and Kazakhstan. The headquarters of ELKO is located in Riga, Latvia.[3][4]
ELKO is a member of the Global Technology Distribution Council (GTDC),[5] the Exporters Association "The Red Jackets" in Latvia,[6] the Latvian Logistics Association,[7] and the Latvian Chamber of Commerce and Industry,[8]
History
editIn 1993, four young entrepreneurs from Latvia founded ELKO Group.[1] In order to reorganize the governance, ELKO created a holding company, ELKO Grupa AS.
In 2005, ELKO Group became the largest company in Latvia by turnover. In 2007, ELKO Group became the first Latvian company to reach US$1 billion in turnover.[9] In 2017, ELKO entered the Nordic-region market by acquiring Gandalf, a distributor of computers and peripheral products in Sweden.[10][11] In 2018, ELKO acquired Absolut Trading Company, a Russian distributor of household appliances and electronics.[12] In 2019, the ELKO Group company WESTech, a distributor of IT products in Slovakia, completed the acquisition of ARAŠID.[13]
The company was listed among the finalists for Distributor of the Year in the European IT and Software Excellence Awards 2020.[14] In 2020, ELKO Group's turnover exceeded US$2 billion.[15]
References
edit- ^ a b "ELKO Group Becomes the Distributor of Palit Products in Russia". October 28, 2018.
- ^ "ELKO Group at delfi.lv" (in Latvian).
- ^ "Company profile". Lursoft (in Latvian).
- ^ "Unaudited Consolidated Financial Statements For 12 months ended 31 December 2017" (PDF). Archived from the original (PDF) on 2018-07-12.
- ^ "Members | GTDC". Retrieved 2020-12-07.
- ^ "Treasures of Latvia. Outstanding export brands".
- ^ "Members – Latvijas Loģistikas Asociācija". Retrieved 2020-12-07.
- ^ "Members of the Latvian Chamber of Commerce and Industry".
- ^ "Elko Grupa the largest company in Latvian IT and computer technology industry in 2018". Dienas Bizness.
- ^ "ELKO iegādājas atlikušās Gandalf akcijas". db.lv (in Latvian). Retrieved 2020-11-15.
- ^ "Press release".
- ^ "ELKO closes the deal to acquire Absolut Trading Company (Press release)". GlobeNewswire. July 20, 2018. Retrieved 2020-11-15.
- ^ "Elko Group acquisitions helped it towards €2bn sales". iteuropa.com.
- ^ "Finalists. European IT and Software Excellence Awards 2020".
- ^ "ELKO CEO on hitting $2bn in revenues, and the top challenge for distributors in 2021". channelpartnerinsight.com.
External links
edit
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