Dustin Group AB (publ)

Good morning everyone and welcome to this Q4 presentation from Dustin Group. So my name is Johan Karlsson, I'm the CEO and with me in the room is also Alexandra Furst who is the COO of Dustin and she will help us to better understand the segment results and how we work with inventory and working capital. Also in the room is Fredrik Setterström, head of IR. Let's move to slide two and Dustin, in summary, just to make a brief update on Dustin. So Dustin is an IT reseller with a base in IT hardware and software products. And as you can see in the graph, up to 82% is IT hardware and 18% is software and services. Software and services increased its share during last year by 4 percentage points. Our assortment is primarily sold online and 60% of sales go through the online platform. The share in the Nordics is about 80%, and in the Benelux, the share is lower. And as you know, we have recently launched our online sales model in the Benelux, and the aim is that we move to similar share in the Benelux as in the Nordics when it comes to online sales. We are represented in six markets in Europe, with our main markets being the Netherlands and Sweden. And as you can see, our key customer focus is B2B, representing 98% of sales. With that said, let's move to slide three. As you probably have seen, we today announced our intention to do a rights issue in Dustin with foreseeable 1,750,000,000. We will talk more about that and the quarterly result in this presentation. But let's kick off with the quarterly result.

Sales in the quarter was affected in many of our customer groups. Sales in the quarter was $5,088,011.4 million. below last year. In S&P, organic growth was negative 11.8%, and in S&P, negative 18.9%. LCP was affected by the trend and by changing count and treatment effective sales by approximately 80%. Gross profit at $745 million. was down 9%. However, gross margin can improve from 14.2% last year to 14.6%. A strong product mix with more service and less mobile. It's also important to see that our position in the most important markets and that our price leadership gives us the possibility to maintain markets also in challenging times. Adjusted EBITDA ended at 142 million in the quarter compared to last year's 200 million. items affecting comparability was 20 million, and these are mainly costs related to the integration of previous required tentatives.

EBIT was 75 million compared to last year's 147, and cash flow from operating activities ended at 23 million compared to last year's 104. Leverage at the end of the quarter was 5.0, but more about that later in the presentation. Some other highlights in the quarter was we, during the quarter, as previously announced, expanded the credit facility by one year to 2025. good to see that our continued focus on costs start to happen, which we will also see later in this presentation.