Elko Grupa

Last updated
ELKO Group
Company type Public
IndustryElectronics distribution
Founded1993
Headquarters Riga, Latvia
Key people
Egons Mednis (President) Svens Dinsdorfs (CEO)
Revenue US$1.883 billion (2019)
6,581,703 (2023)  OOjs UI icon edit-ltr-progressive.svg
Total assets 181,627,416 (2023)  OOjs UI icon edit-ltr-progressive.svg
Number of employees
1,500
Website www.elkogroup.com

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]

Contents

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

In 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

  1. 1 2 "ELKO Group Becomes the Distributor of Palit Products in Russia" (Press release). October 28, 2018.
  2. ↑ "ELKO Group at delfi.lv" (in Latvian).
  3. ↑ "Company profile". Lursoft (in Latvian).
  4. ↑ "Unaudited Consolidated Financial Statements For 12 months ended 31 December 2017" (PDF). Archived from the original (PDF) on 2018-07-12.
  5. ↑ "Members | GTDC" . Retrieved 2020-12-07.
  6. ↑ "Treasures of Latvia. Outstanding export brands".
  7. ↑ "Members – Latvijas Loģistikas Asociācija" . Retrieved 2020-12-07.
  8. ↑ "Members of the Latvian Chamber of Commerce and Industry".
  9. ↑ "Elko Grupa the largest company in Latvian IT and computer technology industry in 2018". Dienas Bizness.
  10. ↑ "ELKO iegādājas atlikušās Gandalf akcijas". db.lv (in Latvian). Retrieved 2020-11-15.
  11. ↑ "Press release" (Press release). 5 July 2017.
  12. ↑ "ELKO closes the deal to acquire Absolut Trading Company (Press release)". GlobeNewswire (Press release). July 20, 2018. Retrieved 2020-11-15.
  13. ↑ "Elko Group acquisitions helped it towards €2bn sales". iteuropa.com.
  14. ↑ "Finalists. European IT and Software Excellence Awards 2020".
  15. ↑ "ELKO CEO on hitting $2bn in revenues, and the top challenge for distributors in 2021". channelpartnerinsight.com.


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