ASBIS Results in Q4 2015: strong increase in revenues and gross margin allowed to produce significant profits.

ASBIS Results in Q4 2015: strong increase in revenues and gross margin allowed to produce significant profits.

Further improvement expected in 2016.

ASBISc Enterprises Plc, a leading distributor of IT products in the emerging markets of Europe, the Middle East and Africa, continued improving its results in Q4 2015, as compared to previous quarters of the year.

Although the results were lower than in 2014, in Q4 2015 revenues increased by 27.55%, compared to Q3 2015 while gross profit grew even faster by 35.91% over the same period. As a result, profit from operations grew by 115.26% and the Company posted net profit after tax of U.S.$ 2.039m. EBITDA grew to U.S.$ 10.590m in Q4 2015, as compared to US$ 3.588m in Q3 2015 and US$ 7.594m in Q4 2014.

This is a significant improvement considering that in H1 2015 the Group’s results were negatively affected by one-off events of almost U.S.$ 20m. After deep restructuring actions, ASBIS returned to profit in the second half of the year. This was not enough to end FY2015 with a profit. Further improvement is expected in 2016 and it is not expected to be affected by one-offs. 

Siarhei Kostevitch, CEO and Chairman of ASBISc Enterprises Plc, commented: We had two completely different halves in 2015. While in the first one our results were affected by one off factors like extra warranty expenses and low margins due to old stock sale out, we came back to profitability in the second half of the year. Although Q4 2015 results were weaker from Q4 2014, if we exclude: one-off positive FX income we had a year ago it is actually comparable. Now having posted much improved results in Q4 2015, we do expect a further improvement in 2016. This is because obviously we will not have US$ 20m one off losses in H1 and our business has been reshaped. With lower expenses and more dynamic and flexible organization we are ready to deliver more profits. We do expect to come up with an official financial forecast for Y2016 by March-end. 


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In Q4 2015 revenues in all major regions of the Company’s operations grew compared to Q3 sales, though still behind Q4 2014 numbers. Revenues derived from the F.S.U. region in Q4 2015 were 29.83% higher than in Q3 2015 but still 24.17% lower than in Q4 2014. For Q1-Q4 2015, sales to this region decreased by 27.16%.

Sales in the Central and Eastern Europe region in Q4 2015 increased by 35.39% compared to Q3 2015, but still 15.17% lower as compared to Q4 2014. For Q1-Q4 2015, sales to the CEE region decreased by 20.56% year-on-year. The CEE region contribution in our total sales increased to 46.16%, which makes the Group's results less vulnerable to the fragile situation in the F.S.U. region. 


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 After we have improved our product portfolio, we expect the upward trend in sales to continue in 2016.

In Q4 2015 the Company’s revenues from major product lines continued to grow as compared to previous periods of 2015.

In Q4 2015 revenues from own brand business decreased by 55.81% compared to Q4 2014 while in Q1-Q4 2015 sales decreased by 71.66%. This is a direct result of the Company’s strategy to decrease the number of product lines offered under own brands and lower the number of models within specific product lines. 

For additional information, please contact: 

Daniel Kordel, ASBISc Enterprises PLC, Investor Relations
Tel. +357 99 633 793

Costas Tziamalis, ASBISc Enterprises PLC, Investor Relations
Tel. +357 25 857 000

ASBISc Enterprises Plc is based in Cyprus and specializes in the distribution of computer hardware and software, mobile solutions, IT components and peripherals, and a wide range of IT products and digital equipment. Established in 1990, the Company has a presence in Central and Eastern Europe, the Baltic States, the former Soviet Union, the Middle East, and North Africa, selling to 60 countries worldwide. The Group distributes products of many vendors, and manufactures and sells private-label products: Prestigio (smartphones, tablets, external storage, leather-coated USB accessories, GPS devices, Car-DVRs, MultiBoards etc.) and Canyon (MP3 players, networking products and other peripheral devices). ASBIS has subsidiaries in 26 countries, about 1,100 employees and 32,000 customers. The Company’s stock has been listed on the Warsaw Stock Exchange since October 2007 under the ticker symbol “ASB” (ASBIS).

For more information, also visit the company’s website at or

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