Q1: Strong organic growth and earnings trend mark beginning of the year

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First quarter

•    Net sales rose 5.3 per cent to SEK 3,696 million (3,508).

•    Organic sales growth was 8.0 per cent (6.1), of which SMB accounted for 7.1 per cent (0.3), LCP for 8.2 per cent (15.1) and B2C for 16.0 per cent (neg: 23.4).

•    The gross margin amounted to 15.6 per cent (16.0).

•    Adjusted EBITA amounted to SEK 171 million (156), corresponding to an adjusted EBITA margin of 4.6 per cent (4.5).

•    EBIT totalled SEK 132 million (118), including items affecting comparability of a negative SEK 14 million (neg: 14).

•    Profit for the quarter was SEK 90 million (86).

•    Earnings per share before dilution totalled SEK 1.02 (0.97).

•    Cash flow from operating activities amounted to SEK 265 million (225).

•    At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 2.2 (2.6), excluding the effects of IFRS 16 Leases. When calculated including these effects, the figure was 2.4 (3.0).

“We have seen a strong trend in our core business, which, combined with our strategic efforts to reduce costs over the long term, resulted in a clear improvement in profitability in the quarter. The second wave of the coronavirus pandemic is impacting our business and markets in both the short and longer term. Despite this, we can see clear signs of continued favourable demand in all customer segments, although market developments and the risk of supply chain disruptions remain difficult to assess from a short-term perspective. As we look ahead, we can see that we are well positioned to benefit from the strong underlying market trends, such as online retail and greater demand for mobility, cloud services and security. We have strong faith in our ability to further strengthen our market position and profitability. Combined with our solid financial position, this means we are well-equipped to address the opportunities and challenges that the future may bring for us and our customers”, 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 12, 2021.

About Dustin

Dustin is a leading online IT partner with operations in the Nordics and the Netherlands. We help our customers to stay in the forefront by providing them with the right IT solution, at the right time and at the right price.

We offer approximately 255,000 products with related services to companies, the public sector and private individuals. The main focus is on SMEs. Sales for the financial year 2019/20 amounted to approximately SEK 13.2 billion and just over 90 per cent of the revenues came from the corporate market.

Dustin Group has more than 1,700 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.


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