Elko Grupa

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ELKO Grupa AS
Public
Industry IT product and solutions distribution
Founded 1993
Headquarters Riga, Latvia
Key people
 Egons Mednis - President, Svens Dinsdorfs - CEO
Products Computer hardware, software, services, solutions
Revenue Increase US$ 1460 million (2016)
Website www.elkogroup.com,

ELKO Grupa AS (ELKO Group) is a distributor of IT products and solutions in Europe and Central Asia.[1] The company acts as a consultant to partners and a wholesaler of computer and electronic products.[2]ELKO operates in 30 countries, with sales offices in 12 countries - Latvia, Estonia, Lithuania, Russia, Ukraine, Romania, Slovenia, Slovakia, Czech Republic, Sweden, Poland and Kazakhstan. The headquarter of ELKO is located in Riga, Latvia.[3][4]

Elko was the largest IT and computer technology company in Latvia in 2016. The company turned over EUR 381.963 million.[5]

History

In 1993, four young entrepreneurs from Latvia founded a business with the intention to provide local retailers with new and upcoming IT products.[6] The next year ELKO expanded in Baltics and opens subsidiary companies in Lithuania (ELKO Kaunas) and in Estonia (ELKO Eesti). In further years ELKO continues its expansion by entering Russian market (office in Moscow), Ukrainian market (office in Kiev), opening subsidiary companies in Romania (Bucharest) – ELKOTech Romania, and Slovenia (Ljubljana) – ELKOTex Slovenia. Further expansion takes place also in Russia, with the foundation of a new subsidiary in St. Petersburg. In 2000 the new subsidiary company was open in Slovakia (Bratislava) and ELKO Latvia Ltd. is founded in Latvia.

In order to reorganize the Group's structure and improve corporate governance, ELKO creates holding company ELKO Grupa AS (ELKO Group).

In 2005 ELKO Group becomes the largest company in Latvia (by turnover). In 2007 ELKO Group becomes the first Latvian company to reach 1 billion USD turnover.[7]

References

  1. ↑ "ELKO CEO interview for The CEO Magazine".
  2. ↑ "ELKO Group at delfi.lv".
  3. ↑ "Lursoft".
  4. ↑ "Unaudited Consolidated Financial Statements For 12 months ended 31 December 2017" (PDF).
  5. ↑ курс, The Baltic Course - Балтийский. "Elko Grupa the largest company in Latvian IT and computer technology industry in 2016". The Baltic Course | Baltic States news & analytics. Retrieved 2018-06-26.
  6. ↑ "ELKO CEO interview for The CEO Magazine".
  7. ↑ курс, The Baltic Course - Балтийский. "Elko Grupa the largest company in Latvian IT and computer technology industry in 2016". The Baltic Course | Baltic States news & analytics. Retrieved 2018-05-28.
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