Dicker data Ltd - (DDR) - market update 2024.05.17

ٱلسَّلَامُ عَلَيْكُمْ 
Dicker Data (DDR), an Australian-founded and ASX-listed enterprise, specializes in distributing a comprehensive range of technology solutions, encompassing hardware, software, cloud services, cybersecurity, access control, and surveillance. Our tailored offerings cater to the diverse needs of our clientele.
Operating exclusively as a distributor, we prioritize serving our extensive network of valued partners, spanning over 12,300 resellers throughout Australia and New Zealand (ANZ). Dicker Data proudly represents a diverse array of products sourced from top-tier global technology providers, including industry giants like Cisco, Citrix, Dell Technologies, Hewlett Packard Enterprise, HP, Lenovo, Microsoft, and other leading brands.

Market update released on the 17th of May 2024
• Revenue experienced a 10.4% decline, attributed to the substantial invoicing of a backlog from FY22 during Q123, as supply chain challenges alleviated. Over $300 million worth of backlogged orders were expedited, with the majority invoiced in Q1 2023. By the close of FY23, their backorder book had normalized to around $200 million.
• Net profit before tax settled at $24.6 million, reflecting a decrease of $0.8 million or 3.1%, primarily influenced by elevated interest expenses during the period.

On a positive note:
• Despite a subdued market environment, the Company demonstrated strong performance in the first quarter of FY24. Quoting activity and pipeline strength in Q124 remained consistent with the previous year, positioning the Company favorably as it enters the second quarter. The quarter-on-quarter revenue decline primarily stemmed from the invoicing of a significant backlog in Q123.
• Several new vendors, including Adobe and Hikvision, were introduced during the quarter, with expectations of scaling their operations in the latter half of the year.
• The Company further solidified its standing as a leader in the Artificial Intelligence (AI) market. In Q124, it secured the exclusive distributorship of NVIDIA's end-to-end solutions in the ANZ region, enhancing its position in AI software. Currently, the Company ranks as the top distributor for Microsoft Copilot in both Australia and New Zealand, reaffirming its leadership in the AI software 

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Member Services - DICKER DATA LTD - DDR.ASX

2024/08/30

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Dicker data Ltd - (DDR) - market update 2024.05.17