Dicker Data posts first-half revenue of $1.459 billion

Dicker Data has announced revenue growth of about 36% in the first half of the financial year, with unaudited revenue reaching AUD $1.459 billion.

The company says the increase in revenue is partly attributed to a full six-month contribution from the Exeed acquisition, which was completed on August 6, 2021. Dicker Data says the balance is attributable to organic growth from existing and new vendors. The revenue contribution from the Exeed business for the first of this financial year across Australia and New Zealand was AUD $192 million.

Dicker Data's first half result also includes two month's contribution from the Dicker Data Access and Surveillance (DAS) business following the acquisition of the Hills Security and IT (SIT) division, accounting for AUD $18m in revenue.

The business sale agreement was voted in favour of by Hills shareholders in April, with the company taking full ownership in May.

According to Dicker Data, this marked a new era in security technology distribution. At the time, the company said it was focused on delivering the highest service levels from certified technical pre and post-sales teams, providing just-in-time access to a comprehensive range of solutions the company's customers are already familiar with.

Dicker Data chairman and CEO David Dicker said he was pleased to announce the completion of the acquisition.

"The company is now well-positioned to capitalise on the access and surveillance market and I'm confident that we have the right people in place to deliver the required outcome," he said at the time.

Excluding the contribution from Exeed and DAS, underlying organic revenue growth was at approximately 17%.

Dicker Data says in line with its quarter one, 2022 financial year update, supply chain distributions have continued and together with the introduction of the Exeed retail business and increased freight costs, gross margins were 8.8% for the first half of FY22.

The company expects gross margins of approximately 9% for the full calendar year.

The operating profit before tax was a record AUD $51m this time around, an increase of 11% ($5m) on the prior corresponding period. This includes $1.6m of acquisition-related amortisation that was not included in H1 FY22.

Dicker Data is a hardware, software, cloud, cybersecurity, access control and surveillance distributor with over 44 years of experience. It says achieving consistent growth despite the pandemic, economic impacts and supply chain constraints highlights Dicker Data's vital place in the IT business supply chain as an essential component for business continuity.