Q4: Robust measures generate results in the short and long term
Fourth quarter
• Net sales declined 5.0 per cent to SEK 2,874 million (3,026).
• Organic sales growth was a negative 2.3 per cent (pos: 11.2), of which SMB accounted for negative 2.6 per cent (pos: 2.3), LCP negative 1.5 per cent (pos: 20.8) and B2C negative 8.5 per cent (pos: 0.7).
• The gross margin amounted to 15.1 per cent (16.2).
• Adjusted EBITA amounted to SEK 101 million (120), corresponding to an adjusted EBITA margin of 3.5 per cent (4.0).
• EBIT totalled SEK 85 million (102), including items affecting comparability of SEK 9 million (3).
• Profit for the quarter was SEK 69 million (73).
• Earnings per share before dilution totalled SEK 0.77 (0.83).
• Cash flow from operating activities amounted to SEK 20 million (71).
September 2019-August 2020
• Net sales rose 5.3 per cent to SEK 13,195 million (12,536).
• Organic sales growth was 2.3 per cent (9.9), of which SMB accounted for negative 1.4 per cent (pos: 4.0), LCP 6.1 per cent (16.5) and B2C negative 3.9 per cent (neg: 3.9).
• The gross margin amounted to 15.5 per cent (16.7).
• Adjusted EBITA declined to SEK 517 million (560), corresponding to an adjusted EBITA margin of 3.9 per cent (4.5).
• EBIT totalled SEK 387 million (489), including items affecting comparability of negative SEK 31 million (pos: 3.5).
• Profit for the period amounted to SEK 277 million (356).
• Earnings per share before dilution totalled SEK 3.13 (4.12).
• Cash flow from operating activities amounted to SEK 868 million (264).
• At the end of the period, net debt in relation to adjusted EBITDA in the past 12-month period, excluding the effects of the implementation of IFRS 16 Leases, was 2.6 (2.9 at the end of 2018/19). When calculated including these effects, the figure was 2.7 (–).
• The Board of Directors intends to submit a proposal for the distribution of profits in connection with the convening of the Annual General Meeting.
“We see a stable development in our online-based core business, with a clear recovery in demand from the smaller and medium-sized companies. The market remains difficult to assess in the short-term and the corona pandemic has had effects in the fourth quarter, but we have also adopted swift and robust measures in both the short and long term to meet the general development. At the same time, the change with an increasing share of online sales is accelerating in our market and we have intensified our strategic work by continuing to improve our core business online and our efficiency and reduce our costs. The automation of the central warehouse, the efficiency initiatives within the organization for services and solutions and the consolidation of our data centres have laid a very solid foundation for higher profitability moving forward”, 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 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 October 7, 2020.
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 1,800 employees and has been listed on Nasdaq Stockholm since 2015 with headquarters in Nacka Strand just outside central Stockholm.