Nuvias posts double-digit surge in full-year results

The group has made three acquisitions over the past seven months

European distributor Nuvias Group saw its top and bottom line swell double-digits in its FY2022 financial results, ending April 2022.

It finished the year with sales growth of 36 per cent year on year. Profits also surged 42 per cent.

The group said growth was both organic and M&A-driven as a result of "strong relationships" in the market and a growing vendor portfolio, coupled with expansions in key geographic and technology areas.

The UK-based company continued to invest in its strategic plan to achieve €1bn in revenue by 2024, through acquisitions in key technology and geographical areas, adding to its cybersecurity and intelligent networks capabilities and services across the UK, DACH, the Benelux and in Eastern Europe.

Most recently it snapped up added value distributors Cloud Distribution in the UK, Deltalink in Belgium, Alliance Technologies in Germany and Netsafe in South East Europe.

The group also joined the Global Technology Distribution Council, a consortium of technology distributors, a move it claims "sanctioned" its position and role amongst key distributors across EMEA.

"We added 16 new vendors, significantly expanding our solution coverage and enablement for partners," Nuvias said in a statement.

"The company's strategy is strongly centred on partners' growth, based on digitising channel operations, intercepting digital transformation trends that the pandemic accelerated, as a result of the emergence of hybrid working patterns that are now commonplace across much of the European territory."

Nuvias claims the impact of the supply chain challenges and semiconductor shortages were mitigated by a strong investment in inventory, closer ties with partners and suppliers and by leveraging software and services.

The company added its "unwavering" focus on customer and vendor partnerships has continued to drive growth, with recognition of progress reflected in several EMEA and national partner awards.