In its Q3 2015 results, Avnet Technology Solutions sales were $2.5bn, an increase of 4.3% organically on a constant currency basis. In constant currency, Avnet Technology Solutions’ sales growth was led by its EMEA region, which grew 6.0%, and the Americas, which grew 4.9%. At a product level, Avnet Technology Solutions grew year-over-year in software, storage, and networking and security, it says.
Patrick Zammit Global President, Avnet Technology Solutions, says the growth in Europe has been down to good management and strong deamnd. “The team has been focusing for a few quarters on the market and on the customers. We also have powerful relationships with our manufacturers. Demand in Europe is good at the moment, indeed you have end customers basically upgrading the IT infrastructure and we’re taking advantage of it.”
On the effect of the low euro: “On the TS side, we have some suppliers who are increasing the prices and but again by no more than 5%. We haven’t seen any change in the behaviour of our customers because of that.”
Gerard Fay, President, Avnet Electronics Marketing Global adds that the weak euro is supporting the economies “I think a lot of that has to do with the fact that the euro is weaker, that’s helping exports. So a lot of our mass market customers have increased their demand. So, so far we see as a positive for our European business.”