Synnex Australia holds onto $2 billion year

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Synnex Australia holds onto $2 billion year

Synnex Australia maintained its $2 billion revenue run during the 2016 financial year, according to figures only recently made available on the Australian Securities & Investments Commission’s website.

The distributor generated $2.04 billion for the year ending 31 December 2016, a relatively flat result compared to 2015’s $2.08 billion, which was the distie’s highest-ever sales performance in Australia.

Although its revenue dipped by about 1.6 percent, Synnex recorded $13 million in total comprehensive income for 2016, up from $9.6 million in 2015.

The improved profits represented a strengthened financial position from 2015, during which the company wrote down what chief executive Kee Ong at the time called “a massive bad debt”.

Highlights of Synnex’s 2016 financial year included Microsoft opening up its Surface device reselling channel, opening the floodgates for an initial 150 partners to order the full Surface range from Ingram Micro and Synnex.

In a first, it signed MYOB to distribute its business management solutions through its cloud portal, and was appointed by Intel as an Australian distie for its IoT portfolio.

In a knock to the distributor, HPE reshuffled its distribution strategy, leaving Synnex and Avnet out of a new mix. Synnex retained its HP Inc partnership.

The 2016 result sees Synnex’s revenues neck and neck with its major distribution competitor in Australia, Ingram Micro, which also brought in just over $2 billion in revenue for 2016.

Across the wider Australian distribution market, Arrow recently reported hitting $600 million for the 18 months to 31 December 2016, amid a change to reporting period. Tech Data advanced solutions, formerly Avnet Technology solutions posted $410 million for the year ending 1 July 2017.

ASX-listed Dicker Data reported $1.18 billion in revenue in the financial year ending 31 December 2016, its second year as a billion-dollar distributor.

Westcon Comstor’s most recently available Australian annual report covers the year ending 29 February 2016, in which it posted revenue of $404 million.

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