Datatec (DTC) 1H24 – Results Snapshot

Diluted HEPS from combined operations 6.2cps (USD) compared to 4.6cps LY. Diluted HEPS from continuing operations up 82.4% y-y to 6.2cps.
Revenue from continuing operations increased by 14.7% y-y to $2 763m, driven by double digit growth by Westcon International and Logicalis International, while Logicalis Latin America produced a strong recovery (+20.2% y-y).
GPM increased by 110bps to 15.1%.
OPM improved from 1.0% to 1.8%.
Expenses increased by 17.4% y-y to $368m, while expenses to revenue rose by 30bps to 13.3%.
No dividend.
Gross debt increased by 15.7% y-y to $447m.
Cash from operations decreased from $48m to -$18m.