Favourable trend in core operations amid a challenging market

Press release -

Favourable trend in core operations amid a challenging market

Third quarter

  • Net sales for the quarter increased 0.9 per cent to SEK 1,919 million (1,902). Organic growth in constant currency was negative 1.1 per cent (25,2).
  • Gross margin rose to 14.2 per cent (13.6).
  • Adjusted EBITA amounted to SEK 82 million (80). Items affecting comparability amounted to a negative SEK 15 million (100).
  • Profit for the quarter amounted to 39 million (136).
  • Earnings per share before dilution totalled SEK 0.51 (2.05).
  • Earnings per share after dilution amounted to SEK 0.51 (2.05).
  • Cash flow from operating activities totalled SEK 14 million (120).

    • September 2014 – May 2015

  • Net sales for the period rose 7.7 per cent to 6,175 million (5,734). Organic growth in constant currency was 5.7 per cent (22.0).
  • Gross margin was 14.0 per cent (14.3).
  • Adjusted EBITA amounted to SEK 286 million (283). Items affecting comparability totalled
    a negative SEK 64 million (48).
  • Profit for the period amounted to SEK 95 million (184).
  • Earnings per share, before dilution, totalled SEK 1.36 (2.79).
  • Earnings per share after dilution amounted to SEK 1.36 (2.79).
  • Cash flow from operating activities totalled SEK 81 million (282).
  • Net debt in relation to adjusted EBITDA in the past 12-month period was under 2.6 (3.2 for the full year, 13/14).

    • Operations

    All amounts in SEK million, unless otherwise indicated Q3 14/15 Q3 13/14 Kv 1-Kv314/15 Q1-Q3 13/14 Q4 13/14– Q3 14/15 Full-year13/14
    Net sales 1,919 1,902 6,175 5,734 7,812 7,371
    Organic sales growth (%) -1.1 25.2 5.7 22.0 - 21.0
    Gross margin (%) 14.2 13.6 14.0 14.3 14.2 14.4
    Adjusted EBITA 82 80 286 283 356 353
    Adjusted EBITA margin (%) 4.3 4.2 4.6 4.9 4.6 4.8
    Profit for the period 39 136 95 184 75 164
    Earnings per share before dilution * 0.51 2.05 1.36 2.79 1.09 2.48
    Earnings per share after dilution * 0.51 2.05 1.36 2.79 1.09 2.48
    Cash flow from operating activities 14 120 81 282 - 256
    Net debt/adjusted EBITDA (multiple) - - - - 2.6 3.2
    Return on equity (%) - - - - 9.6 22.0

    *To gain comparability among the periods, earnings per share have been recalculated, based on the number of shares.

    For further information, please contact:

    Niklas Alm, Head of Investor Relations

    niklas.alm@dustin.se, +46 (0)70 824 40 88

    This information is such that Dustin Group AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 08:00 CET on July 7, 2015.

    About Dustin Group

    Dustin Group is one of the leading Nordic resellers of IT products and additional services to companies, the public sector and private individuals. Having its core business within e-commerce, Dustin functions as a bridge between the manufacturer’s large selection and the customer’s needs where Dustin’s employees help customers find the right solution for their needs.

    Dustin Group is a one-stop-shop that offers approximately 200,000 products with associated services, functions and solutions. The operation is conducted in Sweden, Denmark, Norway and Finland. Besides Dustin and Dustin home, the Group also includes Businessforum and Resolute (Finland) and IT-Hantverkarna (Sweden).

    Dustin Group has more than 900 employees. Sales during the 2013/14 financial year amounted to approximately SEK 7.4 billion. About 90 per cent of Dustin’s income derives from the corporate market with a focus on small and medium companies. Dustin Group is listed on Nasdaq Stockholm since 2015 and has its head office in Nacka in Stockholm.

    Contacts

    Fredrik Sätterström

    Press contact Head of Investor Relations +46 70 510 10 22

    Eva Ernfors

    Press contact Head of Communication +46 70 258 62 62 94

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