ALSO's net profits fall by double digits after year of 'structural optimisation'

Josh Budd
clock
ALSO's net profits fall by double digits after year of 'structural optimisation'

Distributor promises one-off costs on CRM and ERP rollouts will lead to higher long-term profitability

ALSO suffered year-on-year profit declines in 2018, after 12 months of "structural optimisation" at the €9bn-turnover distributor. Operating profits and net profits shrank last year by three per cent to €136.7m and 12 per cent to €81.16m respectively, largely due to the firm racking up €8.8m in restructuring costs for the year as well as €900,000 in costs due to foreign currency effects. Adjusted EBITDA, which excludes these one-off costs, grew by six per cent to €162.4m. Revenues meanw...

To continue reading this article...

Join Channel Partner Insight

  • Exclusive news, insight and analysis for the IT channel across the US and Europe
  • Gain the latest insights through market analysis and interviews with channel leaders
  • Stay on top of key trends with an exclusive members-only podcast
  • Breaking news stories delivered straight to your inbox daily

Join now

 

Already a member?

Log in

More on Vendor

Cisco Q4: The Americas suffers dip while EMEA posts growth for the quarter

Cisco Q4: The Americas suffers dip while EMEA posts growth for the quarter

The networking giant managed to beat expectations after previously forecasting a decline for its fourth quarter

clock 19 August 2022 • 2 min read
Opportunity for AWS and Microsoft? Google Cloud to 'retire' IoT Core service in 2023

Opportunity for AWS and Microsoft? Google Cloud to 'retire' IoT Core service in 2023

The cloud giant is giving customers a year to move to a partner to manage their IoT devices, claiming their needs could be ‘better served’ that way

Kelsey Rees
clock 18 August 2022 • 1 min read
N-able unveils new hub for MSPs to 'tame' the Microsoft Cloud

N-able unveils new hub for MSPs to 'tame' the Microsoft Cloud

The platform aims to help MSPs efficiently adopt and manage cloud resources

Kelsey Rees
clock 17 August 2022 • 1 min read