Q2: Sharp growth in LCP and SMB affected by temporary effects

Second quarter

  • Net sales rose 18.1 per cent to SEK 3,215 million (2,723).
  • Organic growth was 7.8 per cent (1.7), of which SMB accounted for 0.1 per cent (10.9), LCP for 16.1 per cent (neg: 5.0) and B2C for a negative 13.5 per cent (pos: 10.8).
  • The gross margin rose to 16.3 per cent (15.4).
  • Adjusted EBITA increased to SEK 154 million (143), corresponding to an adjusted EBITA margin of 4.8 per cent (5.3).
  • EBIT totalled SEK 160 million (131) including items affecting comparability of SEK 23.2 million (0.3).
  • Profit for the quarter amounted to SEK 124 million (92).
  • Earnings per share before dilution totalled SEK 1.41 (1.19).
  • Cash flow from operating activities amounted to SEK 144 million (15).

September 2018 – February 2019

  • Net sales rose 19.3 per cent to SEK 6,341 million (5 315).
  • Organic growth was 6.9 per cent (5.1), of which SMB accounted for 3.9 per cent (10.2), LCP for 10.7 per cent (1.1) and B2C for a negative 5.4 per cent (pos: 9.6).
  • The gross margin rose to 16.9 per cent (15.5).
  • Adjusted EBITA increased to SEK 316 million (274), corresponding to an adjusted EBITA margin of 5.0 per cent (5.2).
  • EBIT totalled SEK 309 million (239) including items affecting comparability of SEK 26 million (neg:3).
  • Profit for the period amounted to SEK 235 million (168).
  • Earnings per share before dilution totalled SEK 2.78 (2.16).
  • Cash flow from operating activities amounted to SEK 92 million (468).
  • Net debt in relation to adjusted EBITDA in the past 12-month period was 2.1 (3.3 at the end of 2017/18).

“We report strong sales growth, both organic and totally, driven by a strong recovery in the LCP segment. Within the SMB segment, both growth and profitability were negatively impacted by temporary low customer activity around the Christmas and New Year period, as well as limited supply to computers with Intel processors during the first half of the quarter. After the end of the quarter, we have signed agreements to acquire Inventio.IT, Norisk and Chilit. The acquisitions further strengthen our offering in Denmark, the Netherlands and Finland”, says Thomas Ekman, President and CEO of 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 April 10, 2019.

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 1.500 employees. Sales for the 2017/18 financial year amounted to SEK 10.3 billion. More than 90 per cent of Dustin’s income derives from the corporate market. Dustin Group has been listed on Nasdaq Stockholm since 

About Us

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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