Q3: Strong cash flow in a cautious market

Third quarter

•    Net sales amounted to SEK 5,582 million (5,894).

•    Organic sales growth was -9.4 per cent (19.7), of which SMB accounted for -17.4 per cent (8.7) and LCP -5.5 per cent (26.1).

•    The gross margin amounted to 15.3 per cent (14.3).

•    Adjusted EBITA amounted to SEK 169 million (201), corresponding to an adjusted EBITA margin of 3.0 per cent (3.4).

•    EBIT totalled SEK 97 million (140), including items affecting comparability of SEK -25 million (-19).

•    Profit for the quarter was SEK 23 million (85).

•    Earnings per share before dilution totalled SEK 0.21 (0.75).

•    Cash flow from operating activities amounted to SEK 431 million (-277).

September 2022-May 2023

•    Net sales amounted to SEK 18,489 million (17,858).

•    Organic sales growth was -1.1 per cent (13.5), of which SMB accounted for -11.7 per cent (8.6) and LCP 4.0 per cent (18.4).

•    The gross margin amounted to 14.4 per cent (14.8).

•    Adjusted EBITA amounted to SEK 582 million (777), corresponding to an adjusted EBITA margin of 3.1 per cent (4.4).

•    EBIT totalled SEK 391 million (611), including items affecting comparability of SEK -53 million (-39).

•    Profit for the period amounted to SEK 171 million (395).

•    Earnings per share before dilution totalled SEK 1.51 (3.49).

•    Cash flow from operating activities amounted to SEK 596 million (480).

•    At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 4.5 (3.7). The increase from the previous quarter was primarily attributable to currency effects, at unchanged currency rates between the quarters the key ratio would have been 4.3 (4.4 at the end of February 2023).

“I am pleased and proud to be CEO of Dustin since April, after 14 years as CFO. During the third quarter we faced a challenging market dominated by macroeconomic concerns and a distinctly cautious trend for several of our customer groups. Through our strong position and price discipline together with an improved product mix, we have strengthened the gross margin in the quarter, despite lower sales. The adjusted EBITA margin fell slightly due to lower volumes and continuing cost inflation. Cash flow was strong and tied-up working capital decreased through the continued reduction in inventory. We focus our work on cutting our costs and compensating for high inflationary pressure. Dustin holds a strong market position and our business acumen, entrepreneurial spirit and culture remain as strong as ever. Together with all my colleagues, I am looking forward to further developing the operations”, says Johan Karlsson, 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 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 June 27, 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.