Dustin Group AB (publ)

Welcome to this Q1 presentation. I'm here with, as the speaker said, Julia Lagerqvist, who is our new CFO, but also with Fredrik Setterström, that is head of IR. And I think before we start, maybe you, Julia, could give a short introduction of yourself.

Yes, of course. My name is Julia Lagerqvist. I joined Dustin in mid-December, so still fairly new here. Before Dustin, I worked at Skandestandan, a chicken producer that is also listed here in Stockholm, and I was the CFO for the last four and a half years. After that, I was mostly in FNCG, or fast-moving consumer goods. But now I'm very happy to be here and joining what I hope will be a very exciting journey with Dustin.

Thanks, Julia. And let's then continue and move to slide two, Dustin at a glance. So Dustin is an IT reseller with its base in IT hardware and software products. And as you can see in the graph up to the left, 82% of sales is IT hardware and 18% is software and services. Software and services is becoming a larger share of the total sales and has increased its share of sales by four percentage points in last financial year. Our assortment is primarily sold online and 60% of sales go through our online platform. that 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 a similar share of online sales as in the Nordics later in coming years. We are present in six markets in Europe with our main markets being the Netherlands and Sweden. And as you can see, key customer focus is B2B representing 98% of our sales. Let's move to slide three and the bit of the quarterly result summary. Sales in the quarter was affected by a challenging market with continued and a general cautiousness by the customers in many of our customer groups. Sales in the quarter was 5,793,000,000 or 12.7% below last year. Organically, sales was down 16.2% for the group and 9.3% in SMB and 18.8% in LCP. Sales was affected by the termination of the frame agreement in Denmark and by changing in accounting treatment that affected sales by approximately 9% for Dustin Group. Gross profit at 888 million was down slightly, or 0.6%. while gross margin improved from 13.5% last year to 15.3% this year. A strong product mix with more service and less mobile phones and computers affected margins positively. Software and services share was up from 17% last year to 19.7% this year. Again, we saw the strength of our position as we were able to maintain margins in core categories through price leadership in these challenging times. Adjusted EBITDA at 192 million compared to last year's 201, but with an EBITDA margin up from last year's 3.0% to 3.3%. Items affecting comparability was 17 million as our integration work continued during the quarter. EBIT was at 129 million compared to last year's 138, and cash flow from operating activities ended very positively at 250 million compared to negative 85 million last year. Leverage was at 4.6 compared to 5.0 last year. And if we include the right issue proceeds, leverage was at 2.8, meaning in the range of our financial targets. But we'll come back to that later in the presentation. And obviously one of the highlights in the in the quarter was the rights issue that was carried out successfully and according to plan and generated 1 billion 710 million in net proceeds. I'm also pleased to see that our continued focus on cost has had effect which we will see later in the presentation. Now we move to slide four where Julia will give us some more details on the SMB result. Over to Julia.