EQS Group-News: ALSO Holding AG
/ Key word(s): Expansion
02.12.2020 / 11:00
Emmen, Switzerland, 02. December 2020
Expansion of portfolio:
ALSO boosts growth in Eastern Europe with HP Inc.
Due to the company's successful development in Eastern Europe, ALSO has now been able to expand its cooperation with HP Inc. In the future, additional countries in the region, including Hungary, Romania, the Czech Republic and Slovakia, will be supplied with HP Inc. products by the Technology Provider.
ALSO is currently present in 23 countries, 13 of which are in Eastern Europe. A state-of-the-art
E-commerce platform as well as cloud platforms for the as-a-service business, cybersecurity, the Internet of Things, streaming and AI are the basis for a turnover of approximately €11 billion. One component of the company's strategy is regional expansion in Central and Eastern Europe, with a total addressable market of €30 billion and around 40,000 resellers.
The first step was taken in 2015 with a greenfield investment in Poland. Today, 5 years and two acquisitions later, ALSO is one of the key players in the country. In rapid succession, Slovenia, Croatia and Bulgaria have been developed since 2016, while in the Ukraine and Belarus a subsidiary is working a specific market segment. The rapid integration of the acquired companies ensured that internationally active vendors find the same structures and processes in all ALSO countries.
In November, ALSO already began distributing computers, printers and consumables from HP Inc. in Hungary. From the beginning of 2021, sales of the complete HP product portfolio in Romania and HP Supplies in the Czech Republic and Slovakia will begin. This means that ALSO will distribute HP Inc. in the largest markets in the region.
Gustavo Möller-Hergt, CEO of ALSO Holding AG (ALSN: SIX): "Our operational excellence, combined with the local market knowledge we have, is a compelling value proposition for our partners. The increase in sales and profitability while at the same time optimizing our net working capital, has given us a perfect base for further expansion. By using group-wide systems in the areas of ERP, BI and CRM, we can scale our services in the countries very quickly, and significantly reduce complexity for vendors. We are looking forward to open up further countries together with HP Inc."
Direct link to media release: https://www2.also.com/press/20201202en.pdf
Contact person ALSO Holding AG:
Senior Vice President Communication
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) brings together providers and buyers of the ICT industry. ALSO offers more than 660 vendors of hardware, software, and IT services access to over 110 000 potential buyers, who can call a broad spectrum of other customized services in the logistics, finance, and IT services sectors, as well as traditional distribution services. From the development of complex IT landscapes, the provision and maintenance of hardware and software, right through to the return, reconditioning, and remarketing of IT hardware, ALSO offers all services as a one-stop shop. ALSO is represented in 23 European countries and generates total net sales of approximately 10.7 billion euros with around 4 000 employees in the fiscal year 2019. The principal shareholder of ALSO Holding AG is the Droege Group, Düsseldorf, Germany. Further information is available at https://also.com.
Droege Group (founded in 1988) is an independent advisory and investment company under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group carries out direct investments with its own equity in corporate spin-offs and medium-sized companies in "special situations". With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on current megatrends (knowledge, connectivity, prevention, demography, specialization, future work, shopping 4.0). Enthusiasm for quality, innovation, and speed determines the company's actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. More information: https://droege-group.com.
End of Media Release