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Company based in Riga, Latvia
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ELKO Group
Company typePublic
IndustryElectronics distribution
Founded1993
HeadquartersRiga, Latvia
Key peopleEgons Mednis (President) Svens Dinsdorfs (CEO)
RevenueUS$1.883 billion (2019)
Net income6,581,703 Euro (2023) Edit this on Wikidata
Total assets181,627,416 Euro (2023) Edit this on Wikidata
Number of employees1,500
Websitewww.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.

The company acts as a consultant to partners and as a wholesaler of computer and electronic products. 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.

ELKO is a member of the Global Technology Distribution Council (GTDC), the Exporters Association "The Red Jackets" in Latvia, the Latvian Logistics Association, and the Latvian Chamber of Commerce and Industry,

History

In 1993, four young entrepreneurs from Latvia founded ELKO Group. 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. In 2017, ELKO entered the Nordic-region market by acquiring Gandalf, a distributor of computers and peripheral products in Sweden. In 2018, ELKO acquired Absolut Trading Company, a Russian distributor of household appliances and electronics. In 2019, the ELKO Group company WESTech, a distributor of IT products in Slovakia, completed the acquisition of ARAŠID.

The company was listed among the finalists for Distributor of the Year in the European IT and Software Excellence Awards 2020. In 2020, ELKO Group's turnover exceeded US$2 billion.

References

  1. ^ "ELKO Group Becomes the Distributor of Palit Products in Russia". 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".
  12. "ELKO closes the deal to acquire Absolut Trading Company (Press release)". GlobeNewswire. 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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