Dicker Data (DDR) AGM 2025 Presentation summary

Financial performance and highlights

• FY24 gross revenue reached $3.4b, up 2.9% YoY, with recurring gross software sales growing 7.5% to $895.2m, representing 27% of total gross revenue.

• EBITDA was $150.4m (-0.2% YoY), and net profit before tax was $113.2m (-2.8% YoY); net profit after tax was $78.7m (-4.2% YoY).

• Gross profit margin remained flat at 9.6%, while operating costs increased by 6.0% and net profit margin finalized at 3.4%.

• Australia saw 3.0% gross sales growth but a 5.0% decline in profit before tax; New Zealand gross sales rose 1.9% with a 41.8% increase in profit before tax.

• FY24 dividends totaled 44.0 cps, down 2.2% YoY, with quarterly interim dividends planned for FY25.

Balance sheet and capital management

• Net assets at Dec 2024 were $249.7m, with net working capital rising to $397.4m due to higher debtor and inventory days.

• Borrowings increased, with the Westpac receivables facility drawn balance rising from $197m to $245m and the facility limit raised to $320m.

• Debt to equity ratio increased to 1.41x, and net tangible assets stood at $159.4m.

Market position and business strategy

• Maintains a leading position in Australia and is on track to lead in New Zealand, with a stable partner base and strong diversification into adjacent markets.

• Top 5 vendor concentration reduced from 90% in FY12 to 42% in FY24, reflecting successful diversification.

• Recognized with multiple industry awards, including Channel Choice Distributor of the Year and numerous vendor-specific accolades.