WESTech Group has demonstrated the strength and balance of its business model with a turnover of over USD 300 million in 2021

The WESTech business group with over 460 employees, which includes WESTech distribution in Slovakia and the Czech Republic, iStores Apple Premium reseller retail stores, Arasid with its PlayGoSmart (PGS) retail store network, Swiss service center and Logicworks (Apple expert for businesses), increased its sales to USD 301 million in 2021 in a challenging market environment and achieved an operating profit (EBITDA) of USD 9.9 million.
In 2021, we continued to expand our distribution portfolio, retail business and other acquisitions. Although we were unable to fully shake off the effects of subdued market dynamics and supply chain disruptions, we were able to overcome these obstacles . The tensions and macroeconomic uncertainty have not weakened our customers' confidence; on the contrary, we have become an even more important partner and our results only confirm this. Given these difficult market conditions, the Group's performance in 2021 is once again significant and we have demonstrated the strength and balance of our business model
Matej Sršeň CEO, WESTech
During 2021, WESTech acquired new distribution contracts for DELL Technologies' products and brand portfolio, TCL and OPPO smartphones, VIOMI vacuum cleaners, Kyocera printers and others.

Despite several months of store closures due to the pandemic, the retail business performed exceedingly well. Apple premium reseller B2C network iStores' stores and e-shop achieved a 21% increase in sales over the previous year. The success was also driven by stronger online sales during mall closures, and the opening of new flagship iStores and PGS stores in premium locations such as Stanica Nivy and Bory Mall in the second half of the year. The rebranding of the Progamingshop brand to PlayGoSmart, which appeals to a wider range of customers, also made a significant contribution.

In 2021, WESTech also took over a stake in the company of the most important Apple expert for businesses on the Czech market, Logicworks, which seamlessly builds on the Apple business of WESTech and iStores.
WESTech is part of the international ELKO Group, and in 2021, the second full year of covid-accelerated digital transformation saw stable and strong market demand in key product segments and achieved sales of USD 2.192 billion.

Concerted efforts on the part of suppliers to meet production targets, combined with tight logistics, led to uneven delivery schedules that did not match customer demand in several product categories, even leaving some growth opportunities untapped due to lack of product availability in stock at year-end. Nevertheless, this challenging environment created a number of opportunities to improve profitability, resulting in a gross profit of USD 162 million, representing a 24% increase over 2020. Group-wide net profit (EBIT) increased by up to 35% to USD 78.1 million.

With the further development of the corporate strategy, WESTech is well-positioned for the future. With continued significant growth potential, it will be able to add many more chapters to the success story of the entire WESTech Group.
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  2. WESTech Group has demonstrated the strength and balance of its business model with a turnover of over USD 300 million in 2021