Expansion of portfolio: ALSO boosts growth in Eastern Europe with HP Inc.
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