Q3: Strong growth in SMB and continued healthy improvement in profitability

Third quarter

•    Net sales rose 3.8 per cent to SEK 3.394 million (3.271).

•    Organic sales growth was 5.1 per cent (1.3), of which SMB accounted for 14.5 per cent (neg: 5.7), LCP negative 2.6 per cent (6.6) and B2C 6.5 per cent (9.7).

•    The gross margin amounted to 16.4 per cent (15.1).

•    Adjusted EBITA amounted to SEK 158 million (106), corresponding to an adjusted EBITA margin of 4.7 per cent (3.2).

•    EBIT totalled SEK 114 million (52), including items affecting comparability of a negative SEK 21 million (neg: 29).

•    Profit for the quarter was SEK 79 million (31).

•    Earnings per share before dilution totalled SEK 0.89 (0.35).

•    Cash flow from operating activities amounted to a negative SEK 93 million (pos: 468).

September 2020-February 2021

•    Net sales rose 4.4 per cent to SEK 10,773 million (10,322).

•    Organic sales growth was 6.6 per cent (3.8), of which SMB accounted for 9.8 per cent (neg: 1.0), LCP 3.7 per cent (8.5) and B2C 9.1 per cent (neg: 2.5).

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

•    Adjusted EBITA amounted to SEK 530 million (416), corresponding to an adjusted EBITA margin of 4.9 per cent (4.0).

•    EBIT totalled SEK 422 million (303), including items affecting comparability of a negative SEK 36 million (neg: 40).

•    Profit for the period amounted to SEK 292 million (209).

•    Earnings per share before dilution totalled SEK 3.29 (2.36).

•    Cash flow from operating activities amounted to SEK 390 million (848).

•    At the end of the period, net debt in relation to adjusted EBITDA over the past 12-month period was 2.1 (2.5), excluding the effects of IFRS 16 Leases. When calculated including these effects, the figure was 2.3 (2.9).

“We have reported a robust performance in our online-based core operations and strengthened our market position. Despite the impact of component shortages and long delivery times, we met the demand for hardware by being proactive in our purchases and through close relationships with our suppliers. Our organic sales growth was just over 5 per cent for the quarter following strong development within SMB. Our dynamic pricing model and cost discipline resulted in our adjusted EBITA increasing by 49 per cent to SEK 158 million (106) and the EBITA margin strengthening to 4.7 per cent (3.2). The acquisition of Centralpoint strengthens our position in Benelux and the combination of our operations creates favourable conditions for long-term profitable growth in both the Nordic region and Benelux as well as continued expansion in Europe”, 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 June 30, 2021.

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 255,000 products with related services to companies, the public sector and private individuals. 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 has approximately 2,300 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.