ELBI Group, national leader in the distribution of products and services for the electrical field, announces a turnover of almost 555 million RON in 2023 (111.5 million euros). The results are up 19 percent compared to 2022, when the group ended the year with a turnover of over 467 million RON. Profit for 2023 exceeded 20 million RON.
The projections of the group, which includes the companies ELBI Electric & Lighting and ELBI Energy Projects, indicate an increase in business in 2024, estimating to approach the value of 600 million RON (120 million euros), and to expand its business on all sales channels, a process that also involves the opening of new ELBI Universul Electricelor business units.
ELBI group representatives stated that the results and solid financial performance are largely due to investments in a modern logistics platform, located in the P3 Bucharest A1 logistics park. The area of more than 15,000 square meters allowed the efficiency of logistics and IT flows and the optimization of operations, contributing to the increase of storage and distribution capacity. In addition, the implementation of a new company development strategy led to the expansion of the sales network through the ELBI Universul Electricelor concept. Following this process, the company made the transition from a traditional business model, oriented towards classic distribution and sales, to that of a provider of personalized services and solutions. With 15 territorial business units in the country and 5 regional warehouses, the ELBI group offers customers quick access to all innovative products and solutions in the portfolio.
“In a highly competitive market and in a complex economic context, the joint efforts of the entire ELBI team were fundamental to achieving the strategic objectives and achieving the impressive financial performance of the past year. We continue to invest in efficient and dynamic logistics to ensure that we deliver our products efficiently and on time to our customers. We plan to expand both horizontally and vertically, through the sales channels we serve, but also through the inauguration of new business units under the umbrella of ELBI Universul Electricelor. As for our projects division, we closely monitor the evolution of technology and how we can integrate it into our activities. We aim to apply the «smart city» concept in our cities, interconnecting all services to improve the quality of life. In addition, we are already investing in assembly and production capacities for the volume products we sell”, said Cristinel Sandu, Founder & President of ELBI Group.
While the need for innovative and sustainable solutions in the field of energy and lighting will continue to grow, a team of professionals has been developed within the company that has succeeded in winning significant tenders in the field of energy efficiency. These tenders are financed by both European funds and the Environment Fund Administration (AFM). These initiatives were a key pillar of financial growth in 2023 and contributed significantly to ELBI Group’s financial performance. At the same time, other key factors that contributed to these results include the expansion and diversification of the product portfolio and strategic partnerships with internationally renowned manufacturers, but also the effective management of projects in a context marked by the increase in material and labor costs.
