- Dicker Data (DDR) releases its financial results for the first half of 2023
- The company saw its revenue increase 5.3 per cent HoH, totalling $1.1 billion for the six months to June 30, 2023
- Operating expenses increased 21.6 per cent PCP, primarily due to higher salary costs
- Gross sales were up 9.4 per cent HoH to $1.6 billion
- Dicker Data is up 4.34 per cent, trading at $8.78 at 2:31 pm AEST
Leading Australian IT distributor Dicker Data (DDR) has released its financial results for the first half of 2023.
The company has seen revenue increase 5.3 per cent, totalling $1.1 billion for the six months to June 30 2023.
Hardware and virtual services sales reached $1.14 billion, marking a $57 million increase in HoH.
Software sales surged to $442.9 million, up by $77.4 million, or 21.2 per cent, and now account for 27.8 per cent of total sales. Services revenue declined slightly to $6.1 million.
The company reported gross sales were up 9.4 per cent HoH to $1.6 billion, while earnings (EBITDA) also increased 15.4 per cent to $70.6 million.
Dicker Data achieved a gross profit margin of 13.6 per cent, thanks to improvements in front-end margins driven by product mix, including the higher-margin Dicker Access and Surveillance (DAS) business.
Operating expenses increased by 21.6 per cent on the prior corresponding period, primarily due to higher salary costs related to the full half-year effect of the Hills SIT acquisition.
The company’s headcount also increased to 883 employees, reflecting the ongoing growth.
Dicker Data reported a net operating profit before tax of $54.9 million, a six per cent increase HoH.
Statutory net profit before tax, including one-off costs, reached $54.1 million, representing a 7.8 per cent increase. Net profit after tax rose to $37.6 million, up by 9.4 per cent.
Dicker Data’s total assets decreased slightly to $1.06 billion, with cash reserves of $29.2 million.
Total liabilities decreased to $818.1 million, resulting in a net debt position of $279.1 million.
DDR shares were up 4.34 per cent, trading at $8.78 at 2:31 pm AEST.