Datatec has posted a revenue increase of 4% for the year ended 28 February 2013, to $5,25-billion from $5,03-billion in 2012.
EBITDA was $185,5-million (2012: $190,2-million) and cash generated from operations increased to $316,8-million (2012: $102,8-million).
Underlying earnings per share are 43,1 US cents (2012: 47,9 US cents), while capital distribution was up 6% to 17 US cents per share for the full year (2012: 16 US cents).
The group EBITDA performance was impacted by a weaker second half at Westcon. However, the acquisition of Afina further broadens Westcon’s geographic reach.
Record financial performance was posted by Logicalis, with operating profit up 28%, and overall gross margin improvement continues.
For the coming year, the US market is showing signs of improvement. Westcon continues to adapt to weaker environment and robust performance is expected to continue in Logicalis. In 2014 revenues of between $5,6-billion and $5,9-billion are expected, with underlying earnings per share of approximately 50 US cents.
Jens Montanana, chief executive of Datatec, comments: “Last year presented contrasting trading periods and differing divisional achievement. In the first half we performed well in most operations around the world and met our financial expectations.
“However, in the second half, Westcon experienced a slowdown in revenues, particularly in Europe and North America. Logicalis, by contrast, continued to perform strongly throughout the year especially in the UK and US.
“Our increase in capital distribution, despite the weaker second half and challenging trading environment, is a clear demonstration of our confidence in the sustainability of our long term growth strategy.
“In the current financial year, we anticipate another robust performance for Logicalis while Westcon will continue to consolidate and focus on improving operational leverage.”
EBITDA was $185,5-million (2012: $190,2-million) and cash generated from operations increased to $316,8-million (2012: $102,8-million).
Underlying earnings per share are 43,1 US cents (2012: 47,9 US cents), while capital distribution was up 6% to 17 US cents per share for the full year (2012: 16 US cents).
The group EBITDA performance was impacted by a weaker second half at Westcon. However, the acquisition of Afina further broadens Westcon’s geographic reach.
Record financial performance was posted by Logicalis, with operating profit up 28%, and overall gross margin improvement continues.
For the coming year, the US market is showing signs of improvement. Westcon continues to adapt to weaker environment and robust performance is expected to continue in Logicalis. In 2014 revenues of between $5,6-billion and $5,9-billion are expected, with underlying earnings per share of approximately 50 US cents.
Jens Montanana, chief executive of Datatec, comments: “Last year presented contrasting trading periods and differing divisional achievement. In the first half we performed well in most operations around the world and met our financial expectations.
“However, in the second half, Westcon experienced a slowdown in revenues, particularly in Europe and North America. Logicalis, by contrast, continued to perform strongly throughout the year especially in the UK and US.
“Our increase in capital distribution, despite the weaker second half and challenging trading environment, is a clear demonstration of our confidence in the sustainability of our long term growth strategy.
“In the current financial year, we anticipate another robust performance for Logicalis while Westcon will continue to consolidate and focus on improving operational leverage.”