Q2: Improved inventory levels and strengthened margin from the first quarter

Second quarter

•     Net sales rose 2.2 per cent to SEK 6,272 million (6,137).

•     Organic sales growth was -2.4 per cent (10.6), of which SMB accounted for -10.0 per cent (7.0) and LCP 1.1 per cent (15.7).

•     The gross margin amounted to 14.6 per cent (14.7).

•     Adjusted EBITA amounted to SEK 212 million (275), corresponding to an adjusted EBITA margin of 3.4 per cent (4.5). In the first quarter of 2022/23, the adjusted EBITA margin amounted to 3.0 per cent.

•     EBIT totalled SEK 157 million (220), including items affecting comparability of SEK -9 million (-13).

•     Profit for the quarter was SEK 81 million (144).

•     Earnings per share before dilution totalled SEK 0.72 (1.27).

•     Cash flow from operating activities amounted to   SEK 250 million (388).

•     Inventory amounted to SEK 1,220 million (1,259). In the first quarter of 2022/23, inventory amounted to SEK 1,610 million.

September 2022- February 2023

•     Net sales rose 7.9 per cent to SEK 12,908 million (11,963).

•     Organic sales growth was 3.0 per cent (9.4), of which SMB accounted for -8.9 per cent (7.7) and LCP 8.7 per cent (12.4).

•     The gross margin amounted to 14.0 per cent (15.0).

•     Adjusted EBITA amounted to SEK 412 million (576), corresponding to an adjusted EBITA margin of 3.2 per cent (4.8).

•     EBIT totalled SEK 294 million (471), including items affecting comparability of SEK -28 million (-20).

•     Profit for the period amounted to SEK 148 million (310).

•     Earnings per share before dilution totalled SEK 1.30 (2.74).

•     Cash flow from operating activities amounted to SEK 165 million (757).

•     At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 4.4 (3.2).

“The second quarter of the financial year continued to be characterised by a cautious trend among small and mid-sized companies in the SMB segment, while demand remained favourable within the public sector and large companies. An improved product mix within LCP, in combination with the expiry of the agreement with SKI in Denmark, supported a distinct margin improvement sequentially. Reduced tied-up capital in inventory enabled lower net working capital and lower net debt during the quarter. It is encouraging to present clear progress for the quarter that is in line with the scenario presented during the capital markets update in February”, 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 March 29, 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.