Author: eleni

Westnet, a member of Olympia Group, delivered particularly strong financial results in 2025, confirming the effectiveness of the initiatives implemented during the previous year.

The company’s sales increased by 13%, reaching €140.9 million, while gross profit rose significantly by 31%, from €11.2 million in 2024 to €14.6 million in 2025. At the same time, Westnet reduced its operating expenses by 4%, substantially improving its operational efficiency.

As a result, the company achieved a full turnaround in operating profitability (EBITDA), moving from a loss of €1.4 million in 2024 to a profit of €3.2 million in 2025. This overall improvement of €4.6 million clearly demonstrates that the structural and strategic changes implemented delivered the expected results, laying strong foundations for the company’s future growth.

The company’s profit before tax also showed a similarly positive trend, with losses narrowing significantly to €1.3 million in 2025, compared with €5.5 million in 2024—an improvement of €4.2 million within one year.

These results reaffirm Westnet’s strategic direction and its commitment to creating sustainable value for its customers, partners and shareholders, while further strengthening its position in the Greek market for technology, home appliance, heating and cooling products, and consumer battery distribution.

At the same time, the company is implementing an ambitious digital transformation programme, investing in modern technologies, process automation and advanced data analytics tools. The aim is to continuously improve customer service and further enhance operational efficiency.

This growth trajectory is accompanied by continued investment in its people—a commitment that was officially recognised in 2025 through Westnet’s certification as a Best Place to Work. This distinction confirms the company’s dedication to creating a modern, inclusive and high-performing workplace.

In 2026, Westnet is focusing on new product categories with higher profit margins, the further development of its own brands and its expansion into new distribution channels through strategic partnerships.

These initiatives are already delivering results in the first half of 2026, with the company achieving growth in both sales and profitability at rates significantly higher than in 2025. This momentum is creating favourable conditions and strong expectations for Westnet’s return to full-year profitability.

Westnet reported increased turnover, a significant rise in gross profitability, and a substantial reduction in operating expenses for the first half of 2025, confirming the momentum generated by the strategic changes implemented in the previous year.   

Specifically, turnover increased by 13%, gross profit rose by 21%, and operating expenses were reduced by €500,000 compared to the same period in 2024. 

The company’s strategy for 2025 focuses on:  

• Expanding its product portfolio in the sectors of household appliances and air conditioning. 

• Developing its own brands Kydos (televisions) and Omnys (home appliances),  

• Expanding into new geographic markets,  

• And strengthening B2B solutions and technical support, particularly for specialized markets such as hotels and pharmacies.   

The year 2024 marked a strategic transition for Westnet, during which extensive changes were made to its commercial and organizational structures, aiming to enhance operational efficiency and deliver added value to customers.   

More specifically, the company:  

• Implemented an extensive modernization plan for its internal structures,  

• Maintained its market share within Greece,  

• Undertook key IT projects in partnership with strategic allies 

• Strengthened its presence in the retail sector,  

• Expanded its portfolio with proprietary brands such as Kydos and Omnys  

• Carried out heating/cooling projects across Greece using AUX products,  

• And significantly improved the quality of its technical support services.   

Despite the investments and non-recurring costs associated with these changes, which led to negative EBITDA and pre-tax results for 2024, the company maintained its international presence, with 23% of its turnover coming from foreign markets. This allowed capital inflows from international customers to support its supply chain.   

The positive performance of the first half confirms that the changes implemented are delivering results. The strategy now focuses on enhancing efficiency and steadily improving operational performance, with the aim of shaping a sustainable and competitive growth model. 

Westnet announces its partnership with Hotpoint, a popular brand in the home appliances sector, offering solutions that meet the needs of every modern household.

Through this new collaboration, Westnet assumes the distribution of a comprehensive range of both freestanding and built-in home appliances in the Greek market, including washing machines, refrigerators, and ovens with hobs – products known for their high performance, elegant design, and ease of use.

The agreement is expected to strengthen Hotpoint’s presence in Greece by leveraging Westnet’s network and expertise. At the same time, Westnet enhances its portfolio with premium products distinguished by high aesthetics, excellent build quality, and attention to detail.

Founded in 1911 in the United States, Hotpoint has established itself as one of the world’s leading home appliance brands, with a strong focus on innovation and technological superiority. The company has pioneered several advancements in the industry, such as the first washer-dryer combination and the Active Oxygen technology for eliminating bacteria and allergens.

It is worth noting that Hotpoint was recognized this year at the prestigious “Red Dot Design Awards” for its innovative and user-centric design, receiving awards for three oven models.

Maria Kypraiou, Senior Sales Manager of Consumer Goods BU at Westnet, stated: “Hotpoint is a brand with long-standing experience and a trusted presence in the home appliance sector. This partnership not only significantly strengthens our strategic footprint in the market, but also enables us to expand our product portfolio, offering consumers a complete range of advanced, high-quality technological solutions. We are confident that Hotpoint’s presence will be met with a particularly positive response in the Greek market.”

About Hotpoint

Hotpoint mission for over 100 years has been to help consumers share the feeling of home, protecting them from everyday mishaps through thoughtful home solutions which serve as trusted partner to help achieve consistent results. Hotpoint appliances blend seamlessly into every living space with an authentic design that harmonizes with their home for a sense of familiarity and comfort.