Results summary for the year

Jens Montanana, Chief Executive of Datatec, commented:

The year ended with a very challenging set of circumstances as Westcon-Comstor’s SAP and BPO implementations negatively impacted the results of the EMEA region.

Logicalis’ performance was satisfactory with a continuing trend towards a higher margin services business.

The strategic value of our businesses is affirmed by the unsolicited approach for a major share of Westcon-Comstor’s operations.

Group revenue
US$6.08 billion
(FY16: US$6.45 billion)

EBITDA
$118.9 million
(FY16: US$162.1 million)

Gross margin
13.7%
(FY16: 13.5%)

Underlying* earnings per share
11.0 US cents
(FY16: 32.0 US cents)

Strategic value of the Group’s businesses maintained despite poor performance in FY17

Strong growth in Westcon-Comstor security segment

Logicalis
continued increase in services mix driving higher gross margin

Final stages of Westcon-Comstor’s SAP/BPO
implementation in EMEA materially impacted the last few months of FY17

* Excluding impairments of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, restructuring costs relating to fundamental reorganisations and the taxation effect on all of the aforementioned.