Q1: Improved margins and strengthened financial position in a continued weak market

First quarter

·    Net sales amounted to SEK 5,793 million (6,636).

·    Organic sales growth was -16.2 per cent (8.5), of which SMB accounted for -9.3 per cent (-7.8) and LCP -18.8 per cent (17.0).

·    The gross margin amounted to 15.3 per cent (13.5).

·    Adjusted EBITA amounted to SEK 192 million (201), corresponding to an adjusted EBITA margin of 3.3 per cent (3.0).

·    EBIT totalled SEK 129 million (138), including items affecting comparability of SEK -17 million (-19).

·    Profit for the quarter was SEK 33 million (66).

·    Earnings per share before dilution totalled SEK 0.29 (0.59).

·    Cash flow from operating activities amounted to SEK 250 million (-85).

·    At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 4.6 (4.3). Adjusted for issue proceeds received of approximately SEK 1,710 million, including issue costs, the key ratio was 2.8.

"It is encouraging to see an EBITA result of SEK 192 million (201) and margins strengthened through price discipline and effective cost control in the first quarter of the financial year. Cash flow for the quarter was strong and through our recently completed rights issue, the leverage is now within our target range. The market displayed continued cautious but stabilised underlying demand, primarily from SMB customers, with a weak sales trend as a consequence. We will now put our entire energy into our day-to-day operations and look ahead with a focus on delivering on our strategic plan and financial targets. Overall, we stand well-equipped when market conditions improve", says Johan Karlsson, President and CEO at Dustin.

For additional information, please contact:

Fredrik Sätterström, Head of Investor Relations

[e-mail], [phone]

Contact person:

Eva Ernfors, Head of Communication

[e-mail], [phone]

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 10, 2024.

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 2022/23 amounted to approximately SEK 23.6 billion and more than 90 per cent of the revenues came from the corporate market.

Dustin has approximately 2,200 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.

https://news.cision.com/dustin-group-ab/r/q1--improved-margins-and-strengthened-financial-position-in-a-continued-weak-market,c3906628

https://mb.cision.com/Main/11857/3906628/2530494.pdf

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