Johannesburg, 07 May 2015
EET Group is Europe's largest distributor within a range of core business areas, including spare parts and accessories for IT products and mobile phones, complete surveillance solutions, POS and Pro-AV solutions plus home entertainment and lifestyle electronics.
The company operates through 31 sales offices in 27 countries, employs more than 500 employees and serves more than 42 000 customers.
EET Group 2014:
Turnover: | EUR 245.1 million (2013: EUR 210.9 million) |
EBITA: | EUR 17.9 million (2013: EUR 14.6 million) |
Shareholder equity: | EUR 48.5 million (2013: EUR 42.1 million) |
The result speaks for itself
With a net revenue of EUR245.1 million and operating profit (EBITA) of EUR17.9 million, the result has been achieved through acquisitions and organic growth.
Group CEO John Thomas says: "The result speaks for itself. For 13 consecutive years EET Group has shown an improvement in operating income, and this year also with an impressive growth in earnings from EUR14.6 million to EUR17.9 million. We have developed our product portfolio significantly in recent years, and at the same time invested heavily in the development of new business areas and concepts, and the return from this has now started to become apparent."
In January 2014, EET Group entered into the business area of refurbished spare parts, with the acquisition of the majority stake in the British distribution and logistics corporation EAF Supply Chain in the UK. The investment was made to expand activities in the European aftermarket for computer and printer parts, strengthening EET Group's service offerings especially to the European service and maintenance companies. In December, EET Group acquired the Swedish distributor Wiktors AV-Line as part of the strategic expansion on the Pro AV market.
And Thomas has no plans to change down a gear in 2015. Not when it comes to the pace, ambitions or expectations for this and coming years' results. As in the past, the company growth will continuously be achieved through high organic growth rates, together with an ambitious acquisition plan.
Still lots of growth potential
"We still have lots of potential in business areas where we can grow. We have introduced a number of new business areas where we have only achieved a limited market share as yet, so we still have considerable growth potential. In business areas such as mobile parts and accessories, surveillance and security, POS and Pro-AV in particular, we have very ambitious expectations when it comes to growth. All of these business areas have already shown great development in 2014, and I am confident that this will continue," says Thomas.
EET Group has undertaken more than 20 acquisitions since 1997
"We have in recent years acquired two to three businesses per year. From now on, we will be aiming at three to five acquisitions per year. However, the important thing is for us to also continue to be able to generate organic growth that exceeds general market growth - and this means taking market shares every day."
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