Q1: Strengthened position in a challenging market

First quarter

• Net sales rose 12.2 per cent to SEK 3,508 million (3,127).
• Organic growth was 6.1 per cent (5.9), of which SMB accounted for 0.3 per cent (7.8), LCP for 15.1 per cent (4.9) and B2C for negative 23.4 per cent (pos: 2.0). Growth has been affected by a continued cautious corporate market.
• The gross margin amounted to 16.0 per cent (17.4).
• Adjusted EBITA declined to SEK 156 million (162), corresponding to an adjusted EBITA margin of 4.5 per cent (5.2), as a result of continued investments and a changed sales mix.
• EBIT totalled SEK 118 million (149), including items affecting comparability of negative SEK 14 million (pos: 3).
• Profit for the quarter was SEK 86 million (111).
• Earnings per share before dilution totalled SEK 0.97 (1.38).
• Cash flow from operating activities amounted to SEK 225 million (neg: 51).
• At the end of the period, net debt in relation to adjusted EBITDA in the past 12-month period, excluding the effects of the implementation of IFRS 16 Leases, was 2.6 (2.9 at the end of 2018/19). Including the effects of IFRS 16, the figure was 3.0.

“In the first quarter of the financial year, we further strengthened our market position. Sales rose more than 12 per cent, of which just over 6 per cent was organic. The adjusted EBITA margin declined compared with the year-earlier period, but improved compared with the two immediately preceding quarters. We successfully launched our online platform and opened our new regional warehouse in the Netherlands. We are well-positioned for continued growth in our existing markets and have a clear plan for achieving our margin target”, says Thomas Ekman, President and CEO at Dustin.

For further information, please contact:

Fredrik Sätterström, Head of Investor Relations

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

Contact person:

Eva Ernfors, Head of Information

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 8, 2020.

About Dustin

Dustin is a leading online based IT-partner with operations in the Nordics and the Netherlands. The Company offers IT products with associated services and solutions to companies, the public sector and private individuals with a main focus on small and medium-sized companies. Dustin functions as a bridge between the manufacturers’ wide-ranging offerings and customer requirements. The Company offers some 255,000 products with associated services where Dustin’s employees support customers in finding the appropriate solution.

Dustin has more than 1.800 employees. Sales for the 2018/19 financial year amounted to SEK 12.5 billion. More than 90 per cent of Dustin’s income derives from the corporate market. Dustin Group has been listed on Nasdaq Stockholm since 2015 and has its head office in Nacka, Stockholm.