Magirus boosts first half sales

Value added distributor Magirus has posted first half sales up 16.6% year-on-year at Euro256m. The IT infrastructure specialist’s fast-growing Middle East operation played a pivotal role in driving top line revenue growth.

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By  Stuart Wilson Published  November 10, 2004

Value added distributor Magirus posted first half fiscal sales for the period ending September 2004 up 16.6% year-on-year at Euro256m. The IT infrastructure specialist’s fast-growing Middle East operation played a pivotal role in driving top line revenue growth. Fabian von Kuenheim, CEO at Magirus, said: “Constant market share gains in Italy, France, Switzerland, UK and Scandinavia, due to the acceptance of Magirus’ value proposition in these markets, combined with a strong oil price-supported growth in the Middle East seem to continue for the rest of the year.” “These trends, the success of the first six months, a strong backlog when entering our third quarter, a strong order inflow in October and a healthy project pipeline will help Magirus to achieve or overachieve the forecasted annual sales revenue of Euro620m. We further expect a significant improvement of our total profitability,” he added. Magirus’ rocketing sales in the Middle East, Scandinavia, France and Italy, coupled with double digit growth in the UK, Switzerland and Austria helped to offset a sluggish performance in Germany — Magirus home market — where sales were flat year-on-year. Magirus first half operating profits climbed 30.1% to Euro14.1m. Christian Magirus, chief operating officer at Magirus, added: “The success proves that our constant focus on improving our value proposition is paying out. We will drive this further by continuing to move Magirus’ business up in the value chain. Our growth and profitability as well as the resulting independence allow us to decide in the best interest of Magirus which changes in the sales and channel models of our vendors we might follow and when we might go our own way.” 450-strong Magirus launched its Middle East operation back in 2002 with the opening of an office in Dubai Internet City. The local operation was set up as a joint venture between Magirus and A’Ayan Leasing and Investment Company in Kuwait. The company has now added branch offices in Kuwait and Saudi Arabia to its Middle East operation. Magirus represents a clutch of major vendors to offer a full IT infrastructure portfolio. Partners include HP, IBM, EMC, VM Ware, Red Hat, StorageTek, Symantec, Brocade and Microsoft. Offering servers, storage systems, network products and related software, Magirus targets mid-sized and large enterprises across major verticals including banking, insurance, telecommunications and the public sector. The company offers consulting, financing and marketing services alongside systems configuration and integration. HP also confirmed Magirus’ success in the Middle East at its recent regional partner awards ceremony. Magirus walked off with the 2004 channel development partner for HP’s Technology Solutions Group in recognition of its ability to add value to the product portfolio.

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