• Gross Revenue increased 2.9% to $3,373.1 million
• EBITDA in line with prior year at $150.4 million
• Net Profit Before Tax declined 2.8% to $113.2 million
• Final quarterly dividend of 11 cents per share, totaling 44 cps for FY24

Dicker Data (ASX: DDR) has released its financial results for the full year ended 31 December 2024 (FY24). Gross Revenue increased 2.9% on the prior corresponding period (pcp) to $3,373.1 million, supported by an increase in subscription revenues and market share gains. EBITDA was in line with the prior year at $150.4 million, while Net Profit Before Tax declined 2.8% versus pcp to $113.2 million. The company declared a final quarterly dividend of 11 cents per share, bringing the total dividends for FY24 to 44 cents per share. The strong December quarter (Q424) performance, with revenue up 9.9% on pcp, has set a positive tone for FY25, with robust performance continuing into January 2025. Gross profit for the reporting period was up 2.8% at $324.2 million, with a 30 basis point improvement in gross margin to 14.2%. Operating expenses (excluding one-off costs) were 6.0% higher year on year at $182.4 million, attributable to additional costs being incurred in respect of bad debts written off and increases in bad debt provisioning. The company faced a challenging market in FY24, with the Australian and New Zealand economies grappling with high inflation and interest rates, and depressed business and consumer confidence. However, the company pivoted its focus towards enterprise accounts and saw strong growth in cybersecurity, data management, and Artificial Intelligence-related technologies.

The company expects to return to solid growth in both Sales and Profits in FY25, with a positive outlook as macroeconomic conditions improve and market initiatives accelerate, such as the uptake of Artificial Intelligence and the Windows 10 end of support opportunity.