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May 20, 2015

Significant +44% increase of turnover, which reached €69.4 million

Doubling of earnings before tax (EBT €0.95 million in 2014 compared to €0.48 million in 2013)

Earnings before Interests, taxes, depreciation and amortization (ΕΒΙΤDA) at €1.85, increased by 61%


Athens, 20 May, 2015 – A significant increase in sales and profitability was recorded by Westnet Distribution S.A., a member of the Olympia Group, headed by Panos Germanos, according to the financial results announced for fiscal year 2014. Despite the adverse economic environment, in 2014 the company’s strategic plan evolved even further, by achieving high economic figures, as well as a strong presence in the Greek technology distribution product market.

Through the implementation of a new strategic plan with main axes the development of exclusive partnerships in new categories of mobile technology products, the investment in strengthening relationships with select strategic suppliers, as well as the increase of sales in all channels of the company’s operation (commercial – consumer), Westnet achieved in 2014 a significant 44% increase in turnover, which amounted to €69.4 million, versus €48.1 million in 2013.

ΕΒΙΤDA increased by 61.3%, i.e. from €1.15 m in 2013 to € 1.85 in 2014, whereas ΕΒΤ nearly doubled from €0.48m in 2013 to €0.95m in 2014.

In 2014, Westnet laid the foundation for an updated and flexible distribution scheme, with the aim of serving its clientele, in all channels, with competitive products and value added services, always placing the customer at the centre of its operation and building long-term relationships of trust. In particular, the positive trajectory of the company is based on its key strategy axes that it started implementing two years ago, when the company re-positioned itself in the market, placing particular focus on IT products which are closely linked to its DNA, while also incorporating the new Mobility product categories (tablets and smartphones). The company ensured exclusive partnerships in the tablet and smartphone categories, while it further enhanced the know-how of its human recourses through trainings and by recruiting new colleagues with extensive experience.

Commenting on the year’s results, the CEO of WESTNET, Robby Bourlas, noted: “2014 was a very dynamic year for Westnet, as it established itself in the distribution sector, putting at the forefront the high quality of its products and services and our key competitive advantages of experienced partners and customer-centred approach. Having had a successful year, we view 2015 with optimism and anticipate further growth. We seek to increase our share through our weapons: the maturation of our strategies and our exclusive partnerships with key suppliers. At the same time, we are planning in 2015 to enter new categories where opportunities such as accessories are presenting themselves, and also to strengthen our presence in the smartphone market.”

It is noted that Westnet Distribution S.A. operates exclusively in the field of information technology and hi-tech product distribution since 2005. The company offers a package of solutions including the distribution and representation of information technology and hi-tech products of large global companies, such as HP, Lenovo, LG, Asus, Samsung and eStar, while it is the exclusive distributor in Greece for the Lenovo tablets and smartphones as well as all Asus products.