Synaxon UK Limited

Principal activity The principal activity of the business is that of a technology channels support and services company as well as the commodity trade with IT-Equipment. The commodity trading business in the British market of the affiliated company SYNAXON Projekt- und Handels GmbH, Germany, known in the UK as SYNAXON Hub. Fair review of the company's business SYNAXON AG continues to invest heavily in the UK business, both financially and through management structure and re-organisation. Having served the B2C market as well as the B2B market in the past SYNAXON has geared its service offerings primarily to companies that have their focus on small and medium sized business clients over the course of the last three years. With this strategic shift SYNAXON UK is now in accordance with the overall SYNAXON group strategy regarding the main client target group of partners. In 2023 the organisation concentrated its efforts on the following key areas: the EGIS online procurement platform, SYNAXON Distribution (SYNAXON Hub). With our EGIS SaaS platform and our comprehensive Managed Services offering we are helping partners to increase automation, streamline their processes, stay competitive, and drive new business opportunities in a rapidly-changing market. With a single, unified, international team, SYNAXON is better-equipped than ever to meet and exceed partner expectations. SYNAXON Hub offers products from top manufacturers such as Lenovo, HP, Dell, Microsoft and APC through its official distribution channel, without the need for partners to achieve difficult turnover targets or go through complex vendor certifications. Partners benefit directly from individual project conditions through SYNAXON certifications and SYNAXON ensures the availability of the most important commercial product lines. Personnel support has continued from SYNAXON with an international team of experienced staff in the UK and Germany, proving over the course of the year that it can successfully leverage its service offering for its partners and rapidly grow the business. We significantly reduced stock level compared to previous years due to the volatile pricing and we have delayed the decision to hold stock. In Q3 of 2023 the organisation opened up the 'SYNAXON Shop', an ecommerce platform for customers to self-serve, helping drive efficiency and automation with smaller transactions. The EGIS online procurement platform continued to grow in revenue and maintained the number of users and distributors. No changes were made to the board of Directors with Frank Roebers CEO of SYNAXON AG, Mark Schroeder CFO of SYNAXON AG and Mike Barron UK Managing Director remaining. Due to the growth in revenue 2 new hires were made, one in Sales and one in Customer Service. The international team had little change and remained strong. After seeing triple digit growth in 2022 an increase of approx 40% for the year ending 31st December 2023 was considered reasonable by the directors. The business has remained stable, is completely scalable and financially sound, with no borrowings other than an intercompany business loan with SYNAXON AG, the ultimate parent company.