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ELKO Group audited consolidated financial statement for 2016
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ELKO Group audited consolidated financial statement for 2016 : ELKO Group audited consolidated financial statement for 2016
Key figures from the audited consolidated financial statements: Growth in all markets The consolidated turnover of ELKO groups has increased significantly, amounting to 1,460 million dollars (1,319 million euros), an increase of 15.5% 1.264 billion dollars in 2015. The fastest growth has been achieved in Central and Eastern Europe an increase of 29%, reaching USD 496 million (EUR 448 million). The ELKO Group's operations in this region have increased by 11% to reach 856 million dollars (773 million euros). In the relatively stagnant market conditions of the Baltic regions, operations of the ELKO Group have grown by 2% to 108 million USD (EUR 98 million). The ELKO Group closed the year with a net gain of USD 8.5 million (EUR 7.7 million), less compared to the unusually high rates of USD 21.8 million (EUR 19.7 million) in 2015. Product portfolio extended by 50 new manufacturers A well-balanced portfolio, which meets the needs of customers, is one of the main objectives of the ELKO Group in building long-term partnerships and supporting the development of new business services. Over the past year, ELKO Group has added nearly 50 new sellers. For example, well-known brands like LeEco, Xiaomi, ZTE, Meizu, Alcatel in the growing segment of smartphones Bosch Security and Mikrotik in the IT solutions segment. Existing partnerships also expanded: for example, the ELKO Group acquired distribution rights for Lenovo notebooks and electronic software delivery rights (ESD) for Microsoft software in Russia. "While we are still primarily dedicated to wholesale IT products, we are placing increasing emphasis on the distribution of IT solutions and the development of new lines of business. We are clear that technologies such as Internet of Things and concepts of Smart house opens up new market opportunities As the result of our operations shows: the IT solutions business grows rapidly both in turnover and in market share, says Group Director ELKO Svens Dinsdorfs Interest in acquisitions of other companies The ELKO Group currently operates in 24 countries in Europe and Central Asia, with sales offices in 10 countries: Latvia, Lithuania, Estonia, Russia, Ukraine, Kazakhstan, Romania, Slovenia, Slovakia and the Czech Republic. The preferred route for growth, Horizontal and vertical integration.The ELKO Group also has
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