Dustin Group AB: Q1: Strong growth within public sector, weak growth in SMB and cost inflation puts pressure on results

2023-01-11 08:00:00
First quarter
  •     Net sales rose 13.9 per cent to SEK 6,636 million (5,826).

  •     Organic sales growth was 8.5 per cent (8.2), of which SMB accounted for -8.1 per cent (11.6), LCP 17.0 per cent (9.5) and B2C -3.3 per cent (-17.4).

  •     The gross margin amounted to 13.5 per cent (15.4).

  •     Adjusted EBITA amounted to SEK 201 million (301), corresponding to an adjusted EBITA margin of 3.0 per cent (5.2).

  •     EBIT totalled SEK 138 million (251), including items affecting comparability of SEK -19 million (-7).

  •     Profit for the quarter was SEK 66 million (166).

  •     Earnings per share before dilution totalled SEK 0.59 (1.47).

  •     Cash flow from operating activities amounted to SEK -85 million (369).

  •     At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 4.3 (3.01).

"We kicked off the financial year with continued favourable growth despite an anticipated and clearly cautious development in some of our customer segments. Access to standard hardware increased sharply and has fuelled a certain degree of price pressure in the market, which combined with significant cost inflation affected the margin trend for the quarter. We are now further intensifying our cost focus to adapt operations to the prevailing economic climate. I am pleased to say that the integration process in Benelux is proceeding according to plan, enabling positive synergy effects and thus lower costs over time", says Thomas Ekman, President and CEO at Dustin.

For additional information, please contact:

Fredrik Sätterström, Head of Investor Relations

fredrik.satterstrom@dustin.se,+46 705 10 10 22

Contact person:

Eva Ernfors, Head of Communication

eva.ernfors@dustin.se,+46 70 258 62 94

This information is information that Dustin Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on January 11, 2023.

About Dustin

Dustin is a leading online based IT partner in the Nordics and the Benelux. We help our customers to stay in the forefront by providing them with the right IT solution for their needs.

We offer approximately 280,000 products with related services to companies, the public sector and private individuals. Sales for the financial year 2021/22 amounted to approximately SEK 23.6 billion and more than 90 per cent of the revenues came from the corporate market.

Dustin has approximately 2,500 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.