Esprinet: How did a single supplier put a €17m dent in the Italian distributor's profits?

Josh Budd
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Esprinet: How did a single supplier put a €17m dent in the Italian distributor's profits?

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...

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