Further decline of the market in 2017

The domestic sector of the suppliers of computers and other technology products is examined in a recent study of Infobank Hellastat S.A. According to Alexis Nikolaidis, Economic Research & Sectorial Studies Senior Analyst, the market decline trend continued in 2017, along with a clear, however, normalization trend, since the value of sales decreased by 1.5% to €502m.

The negative picture of last year is largely due to the decreased sales of computers and tablets. In detail: a) The computers’ sector suffered a drop of 3%, at €220m (versus a significant decline of 12.5% in 2015, and 24.2% in 2016), with all the segments of the market recording a decline in sales. b) The market for tablets subsided further by 10.7% (versus a decrease of 35.7% in 2015, and 27.6% in 2016), having been affected by the shift of Greek consumers to large screen smartphones in recent years.

With reference to the other categories of the sector, a decline by 12.8% is noticed in the market for servers, with its value standing at €49m. Furthermore, storage systems recorded a remarkable increase of 17.4%, amounting to €23m.

IDC predicts that, this year, the market for equipment will show a rise for the first time after the downward trend of previous years, rising by 1.9% to €511m, which will be largely the result of recovery in the sector of computers.

Regarding the individual sectors: a) Computer sales are expected to record an increase of 7.5%, at €236m, with a positive sign being identified for both desktops and laptops. b) The category of tablets is expected to return to a positive sign, with a rise of 8.4%, following substantial losses over the three previous years. c) Servers are expected to show an increase of 8.8%, amounting to €54m. d) Storage systems are expected to suffer a decline of 4.1%, at approximately €22m.

According to Mr. Nicolas Gouzelos, Chairman & CEO of Infobank Hellastat, “The sector will grow, as long as conditions of economic stability prevail, allowing companies to smoothly implement their investment plans in the fields of technology and computerization. Furthermore, market players are in favor of enhancing the Public Investments Program, so that companies can be stimulated through new public supplies. Actually, the Greek Government’s successful handling of the crisis, along with the implementation of fiscal adjustment measures, require the use of technology towards the automation and modernization of public services, in areas such as electronic invoicing, cash register systems, electronic supplies, electronic prescriptions, etc.”.

 Financial analysis

In the study conducted by IBHS, an analysis takes place of the financial statements of 64 companies. The key conclusions drawn are summarized as follows:

  • In 2016, Turnover subsided by 4.8% to €634.8m.
  • EBITDA amounted to €23.13m, having dropped by 2.8%, while EBT increased by 4.1%, reaching €11m.
  • The EBITDA margin and the EBT margin increased to 5.1% and 2.7%, respectively.
  • Capital leverage remained at 2.2 over 1.
  • Receivables were collected within a period of 4 months.

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