WESTNET DISTRIBUTION IMPROVEMENT OF FINANCIAL FIGURES AND POSITIVE INDICATORS BASED ON THE FINANCIAL RESULTS OF 2013

  • Establishment of profitability
  • Turnover – €150 million (+3.7%)
  • EBIDTA €145 million (+256%)
  • EBT 480 thousand (+123%)

Athens, 14 April, 2014 – An establishment of profitability is reflected in the financial results announced by Westnet Distribution S.A., member of the Olympia Development Group of Panos Germanos, which managed to implement a successful plan during a very difficult year.

The implementation of a new strategy with key axes the achievement of exclusive partnerships, the expansion of the customer base and the focus on profitable categories, had as a result the increase of the turnover by 3.7% compared to 2012. At the level of sales the increase of the turnover compared to 2012 exceeded 33% on a comparative basis.

Specifically, the sales for 2013 amounted to €48.150 million, the total EBITDA (earnings before tax, interest and depreciation) was €1.145 million, whereas earnings before tax (EBT) amounted to €480 thousand from a total €2.066 thousand in losses in 2012. At the same time, the company completed the restructuring and repayment of its loans.

As Mr. Christos Kalogerakis, CEO of Westnet Distribution, said “The improvement of the company’s financial figures comes as a confirmation of the strategy we followed in 2013. The company has been reinforced in order to effectively respond to the challenges of the market and to implement the next step aiming at increasing the market share, strengthening exclusive relationships, further focusing on customer service as well as entering into the 2 new categories of smartphones and accessories. Also, in order to effectively meet the market’s needs, and according to our strategic planning, except for the IT division, we created a new commercial division, that focuses on Mobility products”.

2013 was a landmark year for Westnet Distribution S.A., as the foundations were laid for the creation of a renewed and flexible distribution scheme that focuses on quality customer service with the supply of competitive products and value added services as well the targeted approach at customer level. In this framework, the company repositioned itself in the market by placing emphasis on technology products that are closely linked to its DNA and expanding its product categories. At the same time, exclusive partnerships in new product categories such as tablets (ASUS, LENOVO) were concluded during the year, while the company’s human resources were significantly enhanced through investment in the training and recruitment of specialised executives. The above, in combination with the implementation of an organisational restructuring that led to the significant reduction of its operating costs resulted in Westnet Distribution S.A. getting established in the distribution sector with the high quality of products and services at the forefront.

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 Asus, HP, Lenovo, LG, Philips, Samsung, etc.