Dicker Data has released its audited results for 2022, confirming a 25 per cent revenue growth to $3.1 billion.
The publicly listed distributor giant made earning before interest, tax, depreciation and amortisation (EBITDA) of $129.8 million, a rise of 9.4 per cent year-on-year and a flatlining post-tax profit of $73 million for the year ended 31 December 2022.
At a sector level, the distributor maintained strong growth across all product business units, with hardware and support sales up by 21.6 per cent, software sales up 36.7 per cent and the Dicker Data Services business expanding by 8.3 per cent.
Dicker Data said its software business saw the strongest growth came from recurring revenue products, increasing to $743.9 million.
In May 2022, Dicker Data acquired the IT and security division of Hills and formed the business unit Dicker Access (DAS). This new business unit contributed $73.3 million in the eight months since the deal.
As of 31 December 2022, Dicker Data has 8,200 active partners in Australia and 2,000 in New Zealand.
Dicker Data said it faced continued supply-chain disruption in 2022, with the global chip shortage continuing to impact stock availability across a number of technologies.
This was compounded by the ongoing logistical shortages facing both Australia and New Zealand as demand for delivery services continues to grow, according to the distributor.
Dicker Data also said it had mitigated these by capitalising on strategic inventory opportunities with its suppliers.
The distributor claimed it focused much on FY22 consolidating the customer and vendor relationships obtained through the acquisition of the Exeed and Hills businesses. With the Exeed business, approximately 60 vendors were integrated across various business units, making a full-year contribution of $398.0 million in FY22.
“In last year’s report, I said ‘Another year with difficult and unpredictable conditions’. Conditions in 2022 were similar,” CEO David Dicker told shareholders.
“Rising interest rates, inflation and other factors increased our cost of operations with no upside. Despite this, we delivered on our gross margin guidance and finished the year ahead of our competitors yet again.
“I remain optimistic about business conditions and very optimistic about our company’s ability to generate another strong result in 2023.”