Q4 2024 Dustin Group AB Earnings Call Transcript
Key Points
- Dustin Group AB (LTS:0R5W) has launched a new IT platform in the Benelux, which is expected to enhance customer focus and increase efficiency.
- The company is seeing strong demand for its circularity offerings, with takeback volumes increasing by almost 50% year-over-year.
- Dustin Group AB (LTS:0R5W) is implementing a new organizational structure aimed at saving SEK150 million to SEK200 million annually by 2025-2026.
- The company has a high ambition within ESG, aiming for a 25% reduction in CO2 emissions per SEK1 million revenue over the next three years.
- Dustin Group AB (LTS:0R5W) is experiencing positive trends in contracted recurring services in the Nordics, contributing to an increase in the share of software and services sales.
- Sales in Q4 were SEK4,988 million, 2% below the previous year, with SMB organic growth at negative 9.6%.
- Gross profit decreased by SEK101 million or 16%, with gross margin dropping from 14.6% to 12.9%.
- Adjusted EBITA fell significantly to SEK28 million from last year's SEK142 million, with the EBITA margin decreasing from 2.8% to 0.6%.
- Cash flow from operating activities was negative SEK355 million, primarily due to a seasonal high working capital.
- The company announced that no dividend will be paid for the financial year due to the challenging market conditions.
Hi, and good morning, everyone and welcome to the Q4 presentation for Dustin Group. As said before Julia and myself are in the room together with Frederick from IR. But let's start with a short introduction to Dustin at the glance on slide 2.
Dustin is slightly reseller which is based in it, hardware and software products. And as you can see in the graph up to to the left hand side, 82% of sales is it hardware and 18% is software and services, software and services has in in the last years become taken a larger share of the total sales and has increased in importance. Our assortment is primarily sold online 60% of sales go through our online platform.
The share in the Nordics is about 80% and in the Benelux, the share is lower. However, as you know, we have recently launched our online sales model in the Benelux. And the aim is that we will move to similar share in the as in the Nordics. When it comes to online sales.
We're present in six markets in Europe with our main markets being Netherlands and Sweden. And I think you see, our
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