Dicker Data’s (ASX:DDR) 1HFY24 Sees Margin Growth Despite Slight Revenue Decline

Highlights

• Statutory revenue of DDR fell 2.1% YoY to AUD 1,084.5 million in 1HFY24 AND EBITDA declined 2.4% YoY to AUD 68.9 million.

• Total gross revenue slightly declined by 0.4% YoY to AUD 1,590.1 million in 1HFY24.
• FY24 full-year results to be announced on 27 February 2025.

Established in 1978, Dicker Data Limited (ASX:DDR) is an ASX-listed Australian technology hardware, software, and cloud distributor. The company has reported a slight decline in financial performance for the six-month period ended June 2024 (1HFY24), as per its latest financial filings.

1HFY24 Performance

In 1HFY24, Dicker Data recorded a statutory revenue of AUD 1,084.5 million, representing a 2.1% YoY decline from AUD 1,107.9 million in 1HFY23. The company's EBITDA also saw a 2.4% YoY dropto AUD 68.9 million from AUD 70.6 million in the prior-year period. Net cash from operating activities declined significantly by 29.6% YoY in 1HFY24, reaching AUD 26.2 million, compared to AUD 37.2 million in 1HFY23.

During the reported period, Dicker Data’s total gross revenue stood at AUD 1,590.1 million, reflecting a marginal 0.4% YoY decline, while underlying gross sales remained stable at AUD 1,584.7 million, with a 0.4% decrease. Hardware and virtual services sales fell by 0.7% YoY in 1HFY24, while software sales experienced a 0.5% growth, despite the impact of losing Autodesk distribution.

On a positive note, gross profit increased by 2.9% YoY to AUD 155.0 million, with profit margins improving to 14.3%.

The company is expected toreport its full-year FY24 financial results on 27 February 2025.

Outlook

Despite near-term headwinds, Dicker Data remains optimistic about long-term growth. The company is positioned to leverage the increasing demand for digital transformation services, particularly in security, electrical trade, and professional AV. By expanding its role in the ANZ market, DDR aims to help partners diversify and strengthen revenue streams in the evolving IT landscape.

Share performance of DDR

DDR shares closed 1.56% higher at AUD 9.10 per share on 19 February 2025. Over the past year, DDR’s share price has dropped by almost 20.59% and in the last one month, it has increased by nearly 8.33%.

52-week high of DDR is AUD 12.76, recorded on 29 February 2024 and 52-week low is AUD 8.17, recorded on 19 December 2024.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 19 February 2025. The reference data in this report has been partly sourced from REFINITIV.

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