The distributor's CEO said his priority last year was cutting costs and improving efficiency. So how did Esprinet's EBIT fall by 33 per cent last year?
On the surface of it, Italy's largest distributor Esprinet had a barnstorming 2018. The Vimercate-based firm grew consolidated revenues by 11 per cent year on year to €3.57bn, and adjusted EBIT by a phenomenal 17 per cent to €40m. But dig a little deeper and a different picture emerges. Esprinet's actual earnings before taxes plummeted by 33 per cent to €23m, and by an even greater 59 per cent in Q4 to €8m. So what happened to the southern European distributor last year? When I caugh...
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
Already a member?