Dicker Data reports bump in revenue for FY24, new executive chair comments on Dicker leaving

Fiona Brown speaks to shareholders during its AGM.

Distributor Dicker Data has reported a bump in its revenue for the 2024 financial year with its new executive chair, Fiona Brown admitting the year was challenging for the company.

Its revenue rose 2.9 percent coming in at $3.4 billion, its EBITDA was flat coming in at $150.4m. The company delivered 44 cents per share of dividends during FY24.

It’s been a big week for the Sydney-based distributor, with days prior its CEO David Dicker announced he was resigning as CEO and taking up a short-term consultancy role.

Addressing shareholders at the company’s AGM, Brown said the company faced a challenging market in 2024 as the Australian and New Zealand economies continued to grapple with high inflation and high interest rates, coupled with depressed levels of business and consumer confidence.

“As a result, competitive pressures for the available business increased, and the company’s traditionally strong performing small and mid-market segments reduced their transactional spending,” she told investors.

“In response to these conditions, the company pivoted its focus towards enterprise accounts who were somewhat insulated from the broader economic conditions.”

Looking forward, Brown said the company’s performance has been strengthened in the early months of 2025. Dicker Data reported gross sales of $1.11 billion, a 17.6 percent growth.

“The enterprise segment continued to play an elevated role in our revenue mix, although there are early signs that the company’s revenue composition will normalise in FY25,” she said.

“The company today reported strong 2025 year to dare sales off the back of a soft comparative period, with sales expected to moderate over the remainder of FY25.”

The company highlighted AI, cybersecurity, Windows 10 refresh, and market convergence as opportunities for the 2025 financial year.

Brown addressed the company’s shareholders on David Dicker’s stepping down as CEO. She thanked Dicker for his contribution and leadership to the company.

“Since day one, David’s efforts have shaped the company’s foundation and throughout his tenure, the company has grown into an industry leader, innovating across segments and winning numerous industry awards,” Brown said.

“I am deeply humbled by the trust placed in me by the board and shareholders to continue our company’s success.”

Brown explains how her experience has positioned her to lead with “clarity and purpose”.

“As I stand here today, our company remains on a steady and successful course, and for our entire team, our operations remain very much business as usual,” she added.

“My role as executive chair is to steward this continuity, ensuring we build on our strengths with discipline and focus. In doing so, we will continue to deliver against our long-term strategy and vision through a discipling approach to capital allocation.”

Brown also noted the company is now actively considering the addition of a non-executive director to its board. This will be to further enhance the company’s corporate governance framework, bringing fresh perspectives and expertise to complement its existing strengths.

In ending her address to shareholders, Brown said she is “fully aligned and committed” to preserving Dicker Data’s culture of innovation and growth, supporting the executive leadership team and delivering value with integrity.