Dicker Data

ANNUAL
REPORT
ABN 95 000 969 362
2024

Registered Office
238 Captain Cook Drive, Kurnell NSW 2231
ABN: 
95 000 969 362
Phone:	 1800 688 586
Web:	
https://www.dickerdata.com.au  
	
https://www.dickerdata.co.nz
Dicker Data Board
David Dicker	
Chairman and Chief Executive Officer
Fiona Brown	
Non-Executive Director
Vlad Mitnovetski	
Executive Director and Chief Operating Officer
Mary Stojcevski	
Executive Director and Chief Financial Officer
Ian Welch	
Executive Director, Chief Information Officer
	
and Director of Operations
Kim Stewart-Smith	 Non-Executive Director
Leanne Ralph	
Non-Executive Director
Erin McMullen	
Company Secretary
Investor Relations
investors@dickerdata.com.au
Media Enquiries
media.enquiries@dickerdata.com.au
Auditor
Ernst & Young
Level 34, 200 George St, Sydney NSW 2000
Shareholder Enquiries
Link Market Services
Locked Bag A14
Sydney South NSW 1235
Phone:	 1300 554 474
Web:	
https://www.linkmarketservices.com.au
2

CONTENTS
2024 Highlights	
4
CEO Commentary	
6
Who We Are	
8
Board of Directors and Executive Management	
10
2024 in Review	
12
Industry Recognition	
14
2025 Outlook	
15
Environmental, Social & Governance	
18
Sustainability Report	
30
Directors’ Report	
40
Information on Directors	
51
Remuneration Report	
56
Statement of Profit or Loss and Other Comprehensive Income	
71
Statement of Financial Position	
72
Statement of Changes in Equity	
73
Statement of Cash Flows	
74
Notes To The Financial Statements	
75
Directors’ Declaration	
118
Auditor’s Declaration of Independence	
119
Independent Auditor’s Report	
120
Shareholder Information	
125
3

2024 Highlights
$3.4b
Total Gross Revenue*
 Up +2.9% YOY
$150.4m
EBITDA*
 Flat YOY
$895.2m
Recurring Gross Software Sales
 Up +7.5% YOY
$113.2m
Net Profit Before Tax
 Down -2.8% YOY
43.6c
Earnings Per Share
 Down -4.4% YOY
* Gross revenue is non-IFRS unaudited financial information and does not represent revenue in accordance with Australian Accounting Standards. This 
represents gross proceeds from sale of goods and services both as agent and principal and other revenue.
4

Dicker Data is an 
Australian owned 
and operated, ASX 
listed distributor of 
computer hardware, 
software and related 
products with over 46 
years of experience.
Incorporated in 1978, Dicker Data’s mission is to inspire, educate and enable ICT 
resellers to achieve their full potential through the delivery of unparalleled service, 
technology and logistics. Dicker Data is Australia’s largest locally owned and 
operated ICT distributor. Serving in excess of 12,300 registered reseller partners 
annually, Dicker Data finished the FY24 year with gross revenue of $3.4b. 
Since listing on the ASX in January 2011, Dicker Data has delivered consistently 
profitable results for shareholders whilst maintaining a 100% dividend policy.
10,000+
ACTIVE AU PARTNERS
2,300+
ACTIVE NZ PARTNERS
6,300+
ACTIVE AU MARKETPLACE 
PARTNERS
1,300+
ACTIVE NZ MARKETPLACE 
PARTNERS
5

David Dicker
CEO AND CHAIRMAN
CEO Commentary
As I said last year, the last few years have been difficult. We have been adversely 
affected by events completely out of our control. We may have been guilty of not 
adjusting as quickly as we might have. However, in 2025 we are fully focused on 
returning to solid growth in both sales and profits. We will be making some aggressive 
changes to achieve these goals. I want to assure all shareholders that I am firmly 
focused on achieving the targets we have set for this year.
6

* Add back one-off costs of nil (2023:$0.9m)
Key Financial Data
2024
$’000
2023
$’000
Gross revenue‡
3,373,064
3,278,063
Total revenue from ordinary activities
2,283,022
2,267,711
Gross profit
324,171
315,539
Earnings before interest, tax, depreciation [EBITDA]*
150,434
150,731
Net operating profit before tax*
113,194
117,325
Net statutory profit before tax
113,194
116,412
Net profit after tax [NPAT]
78,694
82,145
 
Earnings per share (cents)
43.62
45.59
 
Dividends paid
86,581
58,553
Dividends per share (cents)
48.00
32.50
*	 Operating profit before tax excludes one off costs: FY24 $nil, FY23 $0.9m, FY22 $2.1m, FY21 $1.0m
‡	 Gross revenue is non-IFRS unaudited financial information and does not represent revenue in accordance with Australian Accounting Standards. This 
represents gross proceeds from sale of goods and services both as agent and principal and other revenue. Refer to Operating and Financial Review 
for reconciliation of statutory revenue to gross sales and revenue.
Results Summary
EBITDA*
($m)
Operating Profit before 
Tax*($m)
$118.7
$129.8
$150.7
FY21
FY22
FY23
$150.4
FY24
FY21
FY22
FY23
$106.1
$107.0
$117.3
FY24
$113.2
Gross Profit
($m)
Gross Revenue‡
($m)
$2,484.5
$3,104.4
$3,278.1
FY21
FY22
FY23
$3,373.1
FY24
$230.3
$283.7
$315.5
FY21
FY22
FY23
$324.2
FY24
7

Who We Are
Our mission is to inspire, educate and enable 
our network of over 12,300 technology 
partners to achieve their full potential through 
the unparalleled delivery of technology, 
services, marketplaces and logistics. We 
are the largest technology distributor in the 
corporate and commercial markets in both 
Australia and New Zealand. We are Dicker 
Data.
Widely recognised as one of the most 
profitable technology distributors in the 
world, Dicker Data’s success has been built 
on delivering consistent, predictable and 
sustainable growth for our shareholders, all 
whilst delivering the highest level of technical 
and sales support for our partners. Despite 
our size and scale, we operate differently to 
our competition, which enables us to adapt 
faster, create bespoke solutions tailored to the 
needs of the ANZ market and operate at the 
cutting-edge of the technology sector. Our 
investment into hiring and retaining the best 
people in their respective fields has continued 
to pay dividends and has embedded our role 
in the success of the thousands of technology 
partners we service each year.
Dicker Data is a vital link in the technology 
value and supply chain. We support our 
partners by scoping, designing, configuring, 
delivering and deploying solutions that span 
the entire technology ecosystem. We represent 
a large number of the world’s leading brands 
who entrust us with growing their partner 
base across a range of highly diversified 
technologies each year. Our team of technical 
and sales professionals help our partners to 
maximise the synergies of our highly diversified 
vendor portfolio by leveraging technology 
alliances and through helping our partners to 
create new business opportunities with their 
end-customers.
Listed on the Australian Securities Exchange 
since 2011 (ASX: DDR), Dicker Data has been 
a consistently strong performer, cementing 
our place as a true Australian success story. 
Renowned for our customer centric culture, 
flexibility, agility and foresight to help our 
technology partners prepare and successfully 
capitalise on emerging market trends, our 
relevance, importance and significance in the 
technology industry continues to grow each 
year. Our performance-based culture and 
management incentives are highly aligned to 
the interests of our shareholders and have 
underpinned our consistent performance and 
success in the Australian and New Zealand 
markets.
We are the catalyst for new technology adoption, 
operating at the centre of the digital transformation of 
Australia and New Zealand for over 46 years. 
Dicker 
Data was 
founded
1978
Annual revenue 
exceeded 
$100m
2000
Listed on 
the ASX
(ASX: DDR)
2011
Acquired 
Express 
Data 
Holdings
2014
Annual revenue 
exceeded $1b 
and CloudPortal 
launched
2015
Awarded 
Cisco Global 
Distributor of 
the Year
2019
8

Annual revenue 
exceeded $2b
2020
Relocated to new 
facility in Kurnell 
and acquired 
Exeed Group
2021
Acquired Hills IT and 
Security Business 
and annual revenue 
exceeded $3b
2022
Delivered 5th 
iteration of TechX, 
attracting 5,500+ 
partners 
2024
Completed 
warehouse 
extension to 
Kurnell HQ
2023
Dicker Data Services team members at our Kurnell headquarters
9

Board of Directors  
and Executive 
Management
Mary 
Stojcevski
Executive Director and  
Chief Financial Officer
	
■Joined Dicker Data as 
Financial Controller in 1999
	
■Responsibilities include all 
the financial management, 
administration and 
compliance functions of the 
Company
	
■Has been an Executive 
Director of the Company 
since August 2010
Vladimir 
Mitnovetski
Executive Director and 
Chief Operating Officer
	
■Joined Dicker Data as 
Category Manager in 2010
	
■Appointed to the Board as 
Executive Director in 2014
	
■Brings over 20 years’ 
of distribution industry 
experience having 
previously worked for Tech 
Pacific and Ingram Micro
Ian Welch
Executive Director,  
Chief Information Officer  
and Director of Operations
	
■Joined Dicker Data in 
March 2013 as General 
Manager IT
	
■Was appointed Executive 
Director in August 2015
	
■Responsible for all IT 
systems and business 
technologies, as well as 
operational processes, 
warehousing and logistics
	
■Founded Dicker Data
	
■Has been Director of 
the Company since 
inception in 1978
	
■Focuses on business 
strategy and decision 
making
	
■Founded Dicker Data
	
■Has been Director of 
the Company since 
1983 
	
■Focuses on business 
strategy and decision 
making
David Dicker
Chairman and
Chief Executive Officer
Fiona 
Brown
Non-Executive Director
	
■Joined the Board 29 
March 2021 
	
■Experienced 
governance 
professional
	
■Extensive Executive 
experience
	
■Skilled business, 
finance and tax advisor
Kim  
Stewart-Smith
Non-Executive Director
	
■Joined the Board 13 
December 2019
	
■Experienced 
governance 
professional
	
■Ex-CFO in the 
importing, wholesaling 
& retail sector
	
■Extensive ASX-related 
experience
Leanne 
Ralph
Non-Executive Director
10

Board of Directors
Executive Management
The following persons were Directors of Dicker 
Data Limited during the financial year end and up 
to the date of this report. Directors were in office 
for this entire period unless otherwise stated.
11

2024 in Review
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. In response to the 
market conditions, the Company pivoted its 
focus in the FY24 period towards enterprise 
accounts who were somewhat insulated from 
the broader economic conditions due to the 
size and scale of the end-customer businesses 
they manage.
Top performing technologies in the Company’s 
FY24 period included cybersecurity, data 
management and those associated with 
Artificial Intelligence (AI) deployments. 
Growth in these segments is reflective of the 
‘must-have’ nature of these technologies, 
particularly as businesses continue to face 
a rapidly evolving cybersecurity landscape. 
Costs associated with data breaches and data 
loss continue to increase, demonstrating the 
need for businesses to be proactive in their 
approaches to keep ahead of bad actors. 
Furthermore, growth in the cybersecurity 
category was strong across the small, medium 
and large market segments, as even companies 
with restricted budgets acknowledged the 
need for continuous investment into fortifying 
their digital assets and operations.
The anticipated PC Refresh, triggered by 
the impending end of support for Windows 
10 in October 2025 drove some demand in 
the FY24 period, however, not to the levels 
expected by the industry. Feedback suggests 
the macroeconomic conditions weighing 
on Australia and New Zealand impacted 
the refresh rate, with many end-customers 
expected to now upgrade their device fleets 
in the Company’s FY25 period. Interestingly, 
despite several industry sources predicting 
that AI-enabled devices would contribute a low 
double-digit percentage to the overall refresh 
opportunity, the Company has been selling 
AI-enabled devices at approximately double 
the predicted rate. This signal demonstrates 
the early-adopter mentality amongst Australia 
and New Zealand businesses and is an early 
indicator of the device mix required to support 
the Windows 10 end of support refresh in the 
FY25 period.
The Company successfully delivered its 
TechX event series in the FY24 period, visiting 
Sydney, Melbourne, Brisbane, Perth and 
Auckland and attracting over 5,500 attendees 
across all five events. TechX brought over 60 
of the Company’s world-leading technology 
vendors together under one roof in each city, 
where thousands of the Company’s partners 
were educated on what’s next for our industry 
and how to capitalise on the latest trends 
utilising the latest technology from Dicker Data. 
Additionally, Founder and Former CEO of global 
technology analyst firm Canalys, Steve Brazier, 
attended all five events providing a global 
update to the Company’s partners on where 
the biggest opportunities are for them in FY25.
The Company added 12 new vendors in the 
FY24 period which delivered an incremental 
$81.8m on the prior corresponding period. New 
vendors included industry heavyweight Adobe, 
alongside Hikvision, SMART Technologies, 
Blackberry, retail brand Nothing, among others. 
The Company remained committed to its 
strategy of growing its vendor portfolio and mix 
to meet the needs of our partner community 
throughout the FY24 period.
Following several changes being made to 
streamline the Company’s newly formed 
access and surveillance business during 
The Company faced a challenging market in 2024, as the 
local economy continued to grapple with high inflation 
and high interest rates, coupled with depressed levels of 
business and consumer confidence.
12

the Company’s FY23 
period, the business 
unit performed well 
in the FY24 period. 
Revenue increased by 
7.9% to $118.3m and profitability 
improved. An eleventh site 
was secured in the later 
stages of the FY24 period to 
establish another access and 
surveillance branch location 
in Auburn NSW, with an 
expected opening date in 
February 2025. Other branch 
refurbishments continued 
in the FY24 period, with the 
Canberra and Perth locations 
refitted in 2024. The 
Company is now the leading distributor for the 
world’s number one and number two surveillance vendors, Axis 
and Hikvision, extending its lead throughout the FY24 period.
The number of partners purchasing from the Company remained steady in FY24, 
at approximately 10,000 in Australia and 2,300 in New Zealand. However, the 
percentage of the Company’s total revenue generated by the marketplace platform 
declined in Australia year on year, largely as a result of the Company’s strategy 
to pursue increased engagement with enterprise reseller partners to offset the 
disruption and depressed conditions in the traditionally strong small and medium 
market segments. Pleasingly, the Company saw 19% growth in the number of 
partners transacting via our marketplace, an increase of approximately 1,000 
partners on the FY23 period. This increase is attributable to growth in our cloud and 
software programs, as well as increased investment into deploying new features and 
accelerating the uptake of additional lines of business with our partners who are 
already engaged on the marketplace platform.
L: Dicker Data team members at TechX Auckland in October 2024
M: Dicker Data New Zealand staff celebrate at their 2024 Christmas Party
R: Dicker Data Australia staff celebrate at their 2024 Christmas Party
Services 
$11m
-6.7% YoY
Hardware & 
Virtual Services 
$2,388
+1.9% YoY
Software 
$964mm 
+5.3% YoY
Gross 
Sales
$3,363m 
+2.8% YoY
13

Distributor of  
the Year - APAC
Distributor of  
the Year - APAC
Distributor of  
the Year - AU
Distributor of  
the Year - AU
Distributor of 
the Year - NZ
Aruba Distributor of the Year - NZ
Hybrid IT Distributor of the Year - NZ
Marketing MVP of the Year - NZ
Distributor of the Year - AU
Aruba Networking Marketing 
Partner of the Year - AU
Distributor of  
the Year - NZ
PC Distributor of the Year - AU
- 
Poly Distributor of the Year - AU
- 
Distributor of the Year - NZ
Environmental, 
Social & 
Governance 
Award - ANZ
Outstanding 
Distributor Partner 
of the Year - NZ
Top Value-Added 
Distributor of  
the Year - AU
Distributor of  
the Year - AU
Distributor of  
the Year - AU
IDG Distributor 
of the Year - AU
Distributor of 
the Year - AU
Distributor of  
the Year - AU
Distributor of  
the Year - NZ
Industry Recognition
Software Distributor of the Year
-
Innovation for Good, DEI 
Champion
Channel Choice  
Distributor of the Year 
-
Modernising Infrastructure 
Distributor of the Year
-
ESG Distributor of the Year
Hardware 
Distributor  
of the Year 
12TH CONSECUTIVE 
YEAR
-
Creativity Distributor 
of the Year
Dicker Data is named the ARN Hardware Distributor 
of the Year for the 12th consecutive year
14

2025 Outlook
Rapid advancements in Artificial Intelligence (AI) are expected to see 
2025 become the year of Agentic AI, as companies deploy their first AI 
employees and look to the technology to improve everything from basic 
tasks, to informing complex strategic decisions. Increased investment into 
scaling AI solutions by the Company’s vendors and partners is expected 
to positively impact the Company as new investments into the supporting 
technology infrastructure increases, with several datacentre builds and 
fitouts being announced in Australia and New Zealand as other Asian 
countries, such as Singapore, reach capacity. 
The Company enters 2025 with an optimistic outlook. Inflation appears to 
have stabilised in Australia and New Zealand and interest rates in other 
developed economies are abating, with local markets expected to follow 
this trend during the Company’s FY25 period. The Company’s success 
in FY25 is pegged to the following key market opportunities; Artificial 
Intelligence, Windows 10 End of Support, Cybersecurity and Market 
Convergence, alongside driving deeper engagement with our partners 
and assisting them in driving broader technology refreshes, focused on 
replacing infrastructure deployed in the 2020 and 2021 periods. 
Technology will be centre stage 
for businesses, governments and 
communities in 2025, as they pursue 
increased efficiencies, productivity and 
overall growth amidst the projected 
improved macroeconomic conditions. 
Dicker Data’s 
AI in the 
Meeting Room 
event in 2024
15

Artificial Intelligence (AI)
Two years after AI burst onto the technology scene, its evolution has been rapid. AI 
is now deeply integrated into countless technologies that are delivering real-world 
impact for businesses and people, and 2025 is set to become the year of Agentic AI, 
where organisations will deploy their first AI employees. Despite the high levels of hype 
surrounding AI, the nascent technology is delivering a meaningful impact on the Company 
and is projected to play a key role in sales growth in the FY25 period and beyond.
Industry sources had initially predicted that sales of AI PCs and their high-end 
counterparts, Copilot+ PCs, would contribute only a high single digit percentage to the 
overall device sales mix. In stark contrast to the forecast, the Company closed the FY24 
period with AI enabled devices representing more than double the forecasted percentage 
of our overall device sales mix. This signal demonstrates the early adopter mentality of 
Australian and New Zealand businesses and is  an early indicator of the device mix demand 
the Company will be required to service in the FY25 period.
The Company worked tirelessly throughout the FY24 period to successfully establish 
itself as Australia and New Zealand’s go-to distributor for AI. Dicker Data is the exclusive 
NVIDIA distributor for Australia and New Zealand, has been appointed as the go-to-
market distributor for AI solutions for a number of global technology brands, as well as 
establishing an ecosystem of new AI technology brands to complement the AI solutions 
our partners are developing and deploying. The strategy led to increased AI sales in the 
Company’s FY24 period and has positioned the Company well for several incremental AI 
opportunities that are expected to transact in the FY25 period.
There has been a marked increase in foreign investment into Australia and New Zealand 
as the race to develop local and regional AI capacity continues. New datacentres have 
been earmarked for our region, which is leading to increased local demand for the core 
and support infrastructure required to operate these datacentres and the hypercompute 
clusters housed within them. The Company expects these datacentres to generate 
sustained demand for the required AI-enabled technologies, particularly as our region has 
emerged as an attractive location for new datacentre builds.
Market Convergence
The Company has spent many years building and diversifying the range of technology 
solutions represented. As industries traditionally outside, or adjacent to technology, either 
shrink or become increasingly influenced by technology, the Company is well positioned 
to capitalise on the opportunities created by these market forces. As covered in detail 
in previous years, the Company continues to disrupt the Professional AV market through 
the delivery of value-add services and increased accessibility to the broader technology 
spectrum. Similarly, the Company continues to disrupt and capture market share in the 
access and surveillance segment through its highly scalable distribution capabilities. 
It’s expected that the Company’s technology partners will play an increasing role in both 
Professional AV and access and surveillance in the FY25 period. However more broadly, 
AI will become an entry point for technology to disrupt even more industries in FY25 
and beyond, with the Company’s partners central to this movement. From healthcare, 
to sustainability,  agriculture, education, retail, transportation, financial services, 
entertainment, construction and more, AI will revolutionise the way businesses operate 
in almost every segment. To accelerate this opportunity, the Company is building new AI 
ecosystem partnerships with technology companies that enable out of the box AI solutions 
that solve key business challenges across various industries.
Responsibility for access and surveillance is converging with cybersecurity, with the 
Company’s partners set to gain additional business as a result. Access and surveillance are 
now viewed by many companies as a pillar in their overall cyber resiliency strategies, and 
the need for access and surveillance solutions to work with existing platforms and systems 
is driving increased demand for the Company and it’s partners. Dicker Data is uniquely 
positioned to assist partners with both their cyber and physical security needs.
16

Windows 10 End of Support
With Windows 10 fast approaching End of Support in October 2025, several 
industry sources report that there are millions of PCs that are still to be refreshed 
across Australia and New Zealand. The Company is proactively working  alongside 
Microsoft and its key device vendors to capitalise on this generational opportunity. 
Earlier in the Company’s FY24 period, Dicker Data was selected as Microsoft’s 
exclusive go-to-market distribution partner for the strategic Windows 10 refresh 
initiative in Australia. Pleasingly, the Company has been retained in this position for 
the first half of the FY25 period, resulting in increased investments from Microsoft 
and access to exclusive programs to accelerate the refresh opportunity. 
In December 2024 the Company held the first of its larger events to educate its 
partners on the Windows 10 opportunity, attracting hundreds of people in Sydney. 
As a prelude to the main event, the Company also held a closed roundtable event 
with key executives from top device partners in NSW to gather valuable feedback 
and information on what they’re seeing in the market and to identify areas where 
they require additional support to accelerate the refresh opportunity. Both sessions 
proved extremely valuable and will be replicated in other Australian states, as well 
as in New Zealand, in the first half of 2025.
Whilst the Windows 10 Refresh motions have commenced amongst large enterprise 
and within heavily regulated industries, such as government, finance, health 
and insurance to name some, the broader opportunity in the small and medium 
segments has lagged. Citing budget constraints, economic concerns and a lack 
of understanding of the benefits of refreshing versus the ramifications of not, the 
Company’s partners faced significant hurdles in the FY24 period.  
With the economy showing early signs of  
improvement in FY25, the Company’s partners  
are optimistic and are indicating they expect  
to see the refresh opportunity accelerate in  
FY25 as the October deadline looms.
Cybersecurity
Despite the challenging market conditions faced by the Company in the FY24 period, 
cybersecurity remained an area of growth and focus. This trend is expected to 
continue in FY25, particularly as threat actors increase the sophistication of their 
attacks by leveraging AI for malicious purposes. Furthermore, recent research 
conducted by the Company with technology leaders in medium to large size end-
customer businesses verified cybersecurity as a top priority for 2025. Closely aligned 
to the topic of cybersecurity, data management will also continue to play a key role in 
the Company’s success in FY25, particularly as businesses work to remain compliant 
with mandates from governments and the policies associated with cyber insurances.
The Company is constantly reviewing its vendor portfolio to identify technology and 
solution gaps, and this practice will continue in FY25 as we move with the needs of 
the markets in which we operate to offer best in class solutions. Cybersecurity is 
an area that requires close monitoring and analysis due to the rapid evolution in the 
cyberthreat landscape, and the Company is well-positioned to continue growing its 
offerings in the cybersecurity segment in FY25. 
Investment into further building the Company’s technical competencies around 
cybersecurity solutions have yielded positive results and will continue in the FY25 
period. Recognised as  leaders in cybersecurity distribution in Australia and New 
Zealand, the Company’s technical staff have become the cornerstone of solution 
design and deployment for cybersecurity solutions. The Company’s objective in FY25 
is to further build upon the cross-functional solution design capabilities of our teams 
to expand the lines of cybersecurity business our partners rely on us for, in turn 
creating more robust and tailored solutions that deliver better cybersecurity outcomes 
for our partners and their end-customers in the process.
17

Our key areas of impact in our FY24 reporting period were:
Our People
High-performing, empowered people from diverse backgrounds who thrive 
in our inclusive environment build their own, and our Company’s success.
Our Wider Impact
Enabling our staff and leveraging our success to increase the positive 
impact we’re collectively making.
Governance
Dicker Data lodges a separate Corporate Governance Statement. To view the 
latest version of this document, please visit the Investor Centre on our website: 
https://www.dickerdata.com.au/investors/policies/CGS
Our Operations
Taking positive steps to reduce our environmental impact and increase our 
environmental awareness with every decision we make.
Our ESG strategy is deeply integrated into our business model and corporate culture, guiding our 
actions and decisions. We are dedicated to minimising our environmental footprint, fostering a safe, 
diverse and inclusive workplace, and maintaining the highest standards of corporate governance. 
The Australian Information Industry Association’s 2023 Tech and Sustainability report* underscores 
the pivotal role of technology in achieving emissions targets and sustainable outcomes. This further 
highlights the opportunity for the Company and its ecosystem to help ANZ businesses to deliver 
on their sustainability ambitions, using technologies that are represented by the Company. The 
Company is also committed to helping its partners further their impact through the use of new, 
advanced technologies, such as Artificial Intelligence.
Our commitment to 
Environmental, Social and 
Governance (ESG) principles is 
not just a responsibility, but a key 
driver of our long-term success. 
Environmental, 
Social &  
Governance
Staff enjoying the dedicated bush walking 
track at the Company’s Kurnell headquarters
18

* AIIA - Tech and 
Sustainability White 
Paper 2023.
19

We empower our people to do their best work and provide them with a 
unique platform to build their own success, in turn driving the success 
of our business. Turnover amongst Executive and Senior Management 
remained at 0% in FY24, further extending the years of consistency and 
continuity that have underpinned the Company’s success. 
Our people are the centre of our 
success, and we embrace all 
aspects of diversity and inclusion 
as our workforce grows to meet the 
needs of our partners and suppliers. 
Our People
YEARS IN BUSINESS
46
A TOTAL OF 893  
STAFF MEMBERS
 19 SITES 
ACROSS AUST & NZ
Staff celebrate at the 
Dicker Data New Zealand 
Christmas Party
Dicker Data accepting 
the HP PC Distributor 
of the Year award
20

Caring for our People
We believe that the health and well-
being of our people are integral to our 
success. Our commitment to fostering 
a healthy, safe and supportive work 
environment is reflected in the range 
of services we offer to promote 
healthier lifestyles. These include 
daily lunches, an onsite gym at our 
Kurnell headquarters, biweekly yoga 
and Pilates sessions available onsite 
and via broadcast links, and fortnightly 
lunch and learn sessions with external 
experts on important topics such as 
managing personal finances, wellness 
and more.
We also provide access to an 
Employee Assistance Program (EAP) 
that offers our people three company-
funded confidential sessions with a 
counsellor to assist with any mental 
health concerns. We began offering 
our staff 10 days of funded leave for 
domestic and family violence (DFV) 
well ahead of the government mandate 
which came into effect on 1 February 
2023. We also provide a support 
toolkit developed in conjunction with 
Banksia Women and Challenge DV to 
help employees manage their unique 
situations. In addition, we offer 10 days 
of paid DFV leave for perpetrators of 
domestic and family violence who can 
demonstrate they are actively seeking 
rehabilitation.
2024 saw the launch of Dicker Data’s 
first Mental Health First Aid courses, 
with 13 team members completing the 
course and becoming the Company’s 
first Mental Health First Aiders. These 
individuals are trained to offer initial 
support to adults who are developing a 
mental health problem, experiencing a 
worsening of an existing mental health 
problem or are in a mental health 
crisis, until appropriate professional 
help is received, or the crisis resolves.
The Company continued its wellness 
initiatives in 2024, offering weekly 
yoga, Pilates and box fit classes. The 
purpose-built nature walk-track at the 
Company’s Kurnell headquarters has 
seen increased use in 2024, with staff 
providing positive feedback on the 
ability to reconnect with nature during 
breaks and the ability to take walking 
meetings in a pleasant environment 
surrounded by flourishing native flora 
and fauna.
The Company also continued its 
hugely popular Brickz4Kidz program 
in 2024, welcoming 332 children 
of employees onsite during school 
holidays. Designed to enable staff to 
continue working through the school 
holidays, the Brickz4Kidz program is 
fully subsided by the Company, with 
external providers coming onsite 
to run STEM (science, technology, 
engineering and math) activities. The 
Company is fortunate to have a wide 
range of practical indoor and outdoor 
spaces for the Brickz4Kidz to operate 
with no negative impact on staff or 
business operations.
+80%
of staff indicated that 
employees show mutual 
respect towards one another.
80%
of NZ staff feel engaged 
(motivated, passionate, and 
committed) in their roles.
21

Workforce Representation
The Company maintained its leadership 
position among ASX 300 peers, with 
57% female representation on the Board, 
significantly exceeding the ASX 300 average 
of 36% as reported by the Governance 
Institute of Australia (2024). The diversity 
of the Company’s senior management team 
remained steady year on year, with 48% female 
representation amongst this group. Gender 
diversity amongst the broader Australian team 
remained stable year on year, with 42.3% 
female representation (+0.11% on FY23). 
Similarly, female representation amongst the 
Company’s New Zealand workforce increased 
by 1.8% in the FY24 period.
The number of staff in Australia and New 
Zealand with tenures over 15 years grew to 63 
in FY24 , and the number of staff with over 20 
years tenure grew to 38 . These outstanding 
statistics further highlight the Company’s 
unique ability to retain high performing people, 
in turn providing our technology partners and 
vendors with an unmatched level of continuity.
People Engagement
Each year, the Company provides an 
opportunity for staff to provide feedback 
across a number of areas via an anonymous 
staff survey. In FY24, 83.46% of staff in 
Australia indicated that people treat one 
another with respect at Dicker Data (-3.22% on 
2023). Employee engagement in New Zealand 
showed positive trends, with 81.82% of staff 
reporting respectful treatment, an improvement 
of 2.26% from FY23. Additionally, 80.00% of 
New Zealand employees feel engaged in their 
roles, reflecting a growing sense of motivation, 
passion, and commitment.
We remain steadfast in our commitment 
to being receptive to our team’s voices, 
adapting our strategies to accommodate their 
requirements, and cultivating a positive work 
atmosphere. The survey also highlighted areas 
for improvement which will improve the overall 
experience of our teams. We are encouraged 
by the constructive feedback and are 
dedicated to making continuous enhancements 
to support our employees’ needs and career 
advancement opportunities.
People Development 
Providing continuous learning and development 
opportunities for our people is a key strategy in 
retaining and upskilling our staff. This approach 
somewhat insulates the Company from talent 
shortages, as we look to promote internally 
as often as possible. Our longstanding 
commitment to developing our people also 
plays a key role in the growing number of staff 
with exceptionally long tenures. Building on 
the foundation laid in 2022 with the launch of 
the ELMO Learning platform, the Company saw 
a 600% year-on-year increase in completion 
of non-mandatory learning courses in the 
FY24 period. Top areas of interest included 
communication and personal development.
The Company continued its management 
training program in FY24, with 43 new or 
existing managers completing the “Excelling 
as a Manager” course. Run over multiple days, 
the course was facilitated by an external 
expert provider, targeting the development 
of key management skills such as building 
confidence and inspiring confidence, emotional 
intelligence development, cultivating positive 
organisational culture and more.
Launched in 2022, the Company’s lunch and 
learn sessions, named Data Bites, continued 
in the FY24 period. With sessions run twice 
per month on average, the Company sourced 
expert external speakers to help staff upskill in 
areas related to their personal and professional 
lives. Topics ranged from breathwork and 
meditation, to financial awareness and support, 
bushfire awareness, and mental health. In 2024 
our People and Culture team also coupled 
selected Data Bites sessions with fundraising 
initiatives such as Biggest Morning Tea, 
STEPtember and Movember, raising thousands 
in additional funds for the causes.
Our People
Governance Institute of Australia. (2024). 2024 
Board Diversity Index. Governance Institute of 
Australia. Retrieved 18 February 2025, from 
https://www.governanceinstitute.com.au/
advocacy/2024-board-diversity-index
22

Our Award Winners
Paul Tutton
Honeywell Asia Pacific Rockstar 
Zealot for Growth Award
Chantelle Stapleton
ARN Innovation Awards 
Marketing Excellence
Inna Bocharova
Eaton Distributor 
Channel Champion
Kate Davis
NetApp
Rising Star
Adam Thurtell
Nutanix APJ
Excellence Award
Tina Kuleski
APC Distributor 
Sales Champion
Staff collaborating and celebrating at the Company’s Kurnell headquarters throughout FY24
23

Our Operations
As we continue to grow, we remain 
acutely aware of the environmental 
impact of our operations. We 
consistently integrate sustainability 
into our decision-making processes, 
aiming to make it a core principle of 
our operational framework.
Dicker Data’s Services team staging 
products ahead of a partner rollout.
24

Workplace Safety
Workplace safety continues to be a high 
priority for the Company. In 2024 we observed 
an increase in reported incidents compared to 
previous years, with 20 injuries or illnesses, 4 
hazards, 34 near misses, and 37 instances of 
damage or loss. However, it’s important to note 
that the rise in reported incidents is a result of 
our enhanced reporting culture rather than a 
decrease in safety.
In terms of injuries or illnesses, we saw an 
increase in Lost Time Injuries (LTI) from 1 in 
2023 to 3 in 2024, and no change in Medical 
Treatment Injuries (MTI) year on year, with 2 
reported MTIs in 2023 and 2024. The Lost 
Time Injury Frequency Rate (LTIFR) increased 
from 0.8 in 2023 to 2.5 in 2024, and no change 
in Medically Treated Injury Frequency Rate 
(MTIFR) remaining at 1.7 in 2024.
The Company is committed to further 
enhancing its safety culture and ensuring 
safety reporting practices are adhered to 
diligently across the organisation. To improve 
warehouse safety, our team has been running 
daily Toolbox Talks and Safety Walkarounds 
for over 24 months. Both of these have been 
received well by the warehouse teams and are 
playing a key role in furthering our warehouse 
safety. 
APCO
As a member of the Australian Packaging 
Covenant Organisation (APCO), we are actively 
contributing to the development of a circular 
economy for packaging in Australia. In FY24 we 
further reduced our reliance on new boxes for 
outbound shipments, building on the progress 
made in FY23. We are committed to assisting 
APCO in achieving its 2025 goal of ensuring 
100% of packaging is reusable, recyclable, 
or compostable, and we are committed to 
recycling all eligible waste materials handled 
by our business. In line with this commitment, 
we have significantly reduced the number of 
single-use plastics and increased our use of 
recycled materials in our shipments.
HP and Dicker Data
As the brands we represent develop more 
sustainable products, they are being well-
received, with partners recommending them 
to their end-customers at increasing rates. HP 
has been a leader in sustainability for many 
years, pioneering the use of recycled ocean 
plastic in their devices years ago. In FY24 the 
Company has seen an uplift of 16% in number 
of HP devices shipped that are made with 
50% recycled ocean plastic, demonstrating 
the appetite for these eco-conscious devices 
that offer the same level of performance and 
capability as their traditional counterparts.
Member of APCO, 
supporting a 
circular economy 
for packaging  
Committed to 100% 
reusable, recyclable, 
or compostable 
packaging by 2025  
16% increase in HP 
devices shipped made 
with 50% recycled 
ocean plastic in FY24
AUSTRALIAN
PACKAGING
COVENANT
ORGANISATION
25

Our Wider Impact
As our commercial achievements continue to grow, 
so does our commitment to using our resources and 
influence to make a positive difference. We believe that 
our corporate responsibility extends beyond our core 
operations and includes supporting various causes that 
align with our values and vision. We continued to work 
with our chosen social pillar partners in 2024, enabling 
them to increase their impact using the resources made 
available by the Company.
TechX 2024
The Company delivered its flagship biennial event series, TechX, across Australia and New 
Zealand in 2024, attracting over 5,500 attendees across Sydney, Melbourne, Brisbane, Perth and 
Auckland. As part of the event series, the Company selected four Australian charities (Beyond 
Blue, Kids Cancer Project, Ocean Impact Organisation and the World Wildlife Fund) and four 
New Zealand charities (SPCA, Halberg, Trees that Count and KidsCan) who shared in $15,000 in 
donations. Attendees to the event were given the opportunity to select which charity they’d like 
the Company to donate to, ultimately determining the split of the overall donation pool of funds.
Staff encouraging 
attendees at the TechX 
2024 roadshow to 
donate to one of the 
four chosen causes
26

Dell Technologies & Dicker Data
Throughout 2024, we leveraged our close 
partnership with Dell Technologies to amplify 
our positive impact. As an Advocate Partner 
of Ronald McDonald House, Dell Technologies 
invited Dicker Data to participate in the Meals 
from the Heart program on four occasions. 
Together, we donated hundreds of hours 
to prepare meals for the children, and their 
families, who are staying at the Westmead 
facility whilst receiving critical care at the 
nearby Westmead Children’s Hospital. 
Our New Zealand team also partnered 
with Dell Technologies, donating time to 
volunteer at the Catalytic Foundation’s Fair 
Food organisation. Our team assisted with 
the sorting of food that was destined for 
landfill that is still good quality, enabling it to 
be re-distributed back into the community, 
particularly for those in need.
Cisco and Dicker Data
In 2024, Dicker Data was selected as Cisco’s 
main route to market for security and 
cybersecurity products in Australia. As part 
of Cisco’s incremental investment into Dicker 
Data to drive the growth of their security 
business, a five-city event was created that 
included a partnership with global impact 
makers, B1G1 Business for Good. The events 
evolved into a business accelerator for the 
Company’s partners that also enabled us 
to jointly give back. As a result, 250 trees 
were planted in the Daintree Rainforest, 500 
days of digital skills training was donated to 
Aboriginal communities to provide them with 
valuable skills for the modern workforce and 
15,000 days of life saving water supply was 
provided to people facing water scarcity in 
vulnerable regions.
Microsoft and Dicker Data
Dicker Data was selected as one of 
Microsoft’s go-to-market distributors in 
ANZ for the Tech for Social Impact in 2023. 
Since the announcement we have proudly 
developed step-by-step guides to help 
partners navigate the Not for Profit (NFP) 
space, provided best practice guides on 
implementing Microsoft solutions tailored 
to NFP organisations and we’ve created 
tools such as pitch decks to support sales, 
technical and deployment efforts. We’ve also 
run five dedicated Tech for Social Impact 
sessions across ANZ in 2024, providing 
training to our partners on understanding the 
needs of NFPs, training on how to position 
Microsoft’s discounted and donated solutions 
effectively in a local setting and we’ve 
conducted technical deep dive sessions to 
support partners in their implementation and 
deployment strategies. In FY24 the Company 
grew the Microsoft Tech for Social Impact 
business by approximately 35% year on year, 
meaning more NFPs now have access to 
cutting-edge technology to accelerate their 
work and impact.
27

Our Wider Impact
Ozharvest
The Company’s Software division partnered 
with Ozharvest in the FY24 period, delivering 
several positive outcomes. A food drive was 
run at the Company’s Kurnell headquarters 
where staff were encouraged to donate food. 
Four boxes of food to feed up to 200 families in 
need was raised as a result. The Software team 
also underwent a cooking class with Ozharvest 
to learn how to minimise food wastage in their 
own households, for example by learning 
proper fruit and vegetable chopping methods.
Foundation for National Parks 
and Wildlife
The Company continued its partnership with 
the Foundation for National Parks and Wildlife 
in FY24, enabling the company’s partners to 
donate towards protecting the environment 
for the future and enabling land acquisition to 
grow the footprint of our National Parks. The 
Company passed partner contributions on to 
the foundation monthly, whilst also matching 
them dollar for dollar.
Trees that Count
Following the success of the Company’s 
ongoing donation collections for the 
Foundation of National Parks and Wildlife 
via our Australian website, the Company 
launched a similar partnership in New Zealand, 
supporting local charity Trees that Count. 
The Company’s partners are prompted to 
donate during the checkout process, with the 
Company matching every donation dollar for 
dollar. 
Modern Slavery
In 2024, we conducted a thorough examination 
of our supply chain through a Modern Slavery 
audit and action plan. The outcomes of our 
Modern Slavery audits have consistently 
inspired us. We are dedicated to persistently 
scrutinizing our supply chain to better ensure 
adherence to Modern Slavery practices and 
expectations. This commitment strengthens 
the trust of our investors and stakeholders in 
our ethical conduct.
Ocean Impact Organisation
The Company continued its partnership with 
the Ocean Impact Organisation (OIO) through 
to mid-2024. The Company’s involvement 
supported startups in the ocean health 
segment and has assisted the winners of 
the Ocean Monitoring Spotlight category 
announced at the annual Pitchfest event over a 
number of years to accelerate their next round 
of growth. 
Dicker Data team members joining forces with the Dell Technologies Australia team to prepare meals for the 
families staying at the Ronald McDonald House facility at Westmead Hospital in Western Sydney. 
28

Dicker Data’s software team preparing meals with OzHarvest in 2024.
29

Sustainability 
Report
Governance
Reporting to the Audit and Risk Management Committee, the Dicker Data Internal Risk Review Committee 
(IRRC) are responsible for the oversight of climate-related risks and opportunities as referenced within 
the Dicker Data Corporate Governance Statement.
Executive management are responsible for the makeup of the IRRC committee to ensure available 
skills and competencies remain sufficient for its purpose. Members are selected based on skills and 
competencies relevant to risk, finance, strategy and governance.
The function and requirements of the committee are outlined within the Dicker Data Internal Risk Review 
Committee Charter.
In alignment with Dicker Data’s overarching risk framework, new climate risks and opportunities deemed 
material by the committee are recorded within its risk register and current items and targets are 
reviewed. The risk register is reviewed by the board of directors during monthly board meetings and 
where recommended new or existing business strategies and targets are established or amended and 
delegated to executive management for implementation as applicable.
Executive management have delegated authority for reviewing and setting of time horizons appropriate 
to Dicker Data’s business model, and time horizons within this report are on the following basis:
	
■
Short term 
0-1 years
	
■
Medium term 1-5 years
	
■
Long term  
5-10 years 
Risk Management
The IRRC is informed of risk through various internal and external sources including but not limited 
to:
	
■
Sales & Procurement 
Climate related risks affecting our customers and vendors, where disclosed through 
collaboration or through analysis of performance are relayed to the IRRC by the Chief Operating 
Officer.
	
■
Legal 
Changes within climate related legislation, amended standards and other similar instruments are 
monitored by Dicker Data’s legal team and relayed to the IRRC by General Counsel.
	
■
Operations 
Should the business model or scope of the business be amended, the IRRC are provided details 
of such amendments by Executive Management.
	
■
Finance 
Where a climate related risk or related opportunity has a material financial impact, relevant 
information is relayed to the IRRC by the Chief Financial Officer.
30

	
■
Reviews & Reports (Greenhouse gas emission reports, scenario analysis, industry peers, media) 
Dicker Data’s absolute and intensity-based greenhouse gas emissions are made available to the 
IRRC by the HSEQ Officer for review annually. Scenario Analysis reports are made available to 
the IRRC by Executive Management as they become available and is a key driver used by the 
IRRC to inform risk exposure and opportunities. Information from peer & media reviews where 
undertaken are relayed to the IRRC by the General Manager Marketing & Strategy.
The IRRC adopt a holistic approach to risk management assessing risk for whole of business and 
using likelihood and consequence tables to assign risk levels. Greater focus is applied to risk 
elements deemed to be high or extreme.
In accordance with the Dicker Data Internal Risk Review Committee Charter, the IRRC meet quarterly 
to review new and current risks including climate risks and related opportunities, and to monitor 
progress or establish new actions and targets based upon available information.
Strategy
Where deemed a material climate related risk by the IRRC, these risks and related opportunities are 
disclosed below with specific information provided to enable users of this report to understand:
	
■
the risk that is expected to affect Dicker Data
	
■
the type of risk (Physical or Transitional)
	
■
the anticipated time horizon when the identified risk may affect the business
	
■
business areas affected including its value chain
	
■
strategy, including anticipated planning cycle and transition planning
	
■
related opportunities
	
■
financial implications
Where a material risks or opportunity can be excluded by law or is deemed commercially sensitive, 
that risk has not been included within this report.
Dicker Data’s financial implications provide a qualitative based overview derived following an 
assessment of available climate related information at time of reporting and in accordance with the 
company’s internal risk management framework. Qualitative indicators are expressed using:
	
■
No Impact
	
■
Low Impact
	
■
Moderate Impact
	
■
High Impact
	
■
Extreme Impact
Risk 1	
Increased heat loads on occupied buildings and equipment
Risk Type:	
Physical
Horizon:	
Medium to Long term
Areas affected:	 Buildings and Infrastructure
Strategy:	
Planning cycle: 1 to 5 years
Review adequacy of HVAC equipment for increased heat load capability across all 
locations and engage with building owners for leased sites, and external contractors 
for owned sites to upgrade facilities where required. Where equipment is exposed to 
heat, adapt accordingly through relocation, substitution or enhanced protection.
31

Opportunities: 	
Increase building resilience to reduce solar effects and reduce electricity
consumption.
Financial Implications:
FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
Low Impact
Moderate Impact
With Strategies in Effect
No Impact
No Impact
No Impact
No Impact
Opportunities
No Impact
No Impact
Low Impact
No Impact
Capital Deployment
No Impact
No Impact
Low Impact
No Impact
Assets/Activities % Affected
0%
Risk 2	
Workforce exposure to sustained increased temperatures
Risk Type:	
Physical
Horizon:	
Medium to Long term
Areas affected:	 Labour
Strategy:	
Planning cycle: 1 to 5 years
Review adequacy of HVAC equipment for increased heat load capability across all 
locations and engage with building owners for leased sites, and external contractors 
for owned sites to upgrade facilities where required.
Review and amend patterns of work for activity areas which cannot be sufficiently 
cooled by mechanical means.
External activities are limited under the current business model and need not be 
addressed.
Opportunities: 	
None
Financial Implications:
FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
Low Impact
Moderate Impact
With Strategies in Effect
No Impact
No Impact
No Impact
No Impact
Opportunities
No Impact
No Impact
No Impact
No Impact
Capital Deployment
No Impact
No Impact
Low Impact
No Impact
Assets/Activities % Affected
0%
Risk 3
Exposure to sustained high temperatures during transportation of overseas goods
Risk Type:	
Physical
Horizon:	
Medium to Long term
32

Areas affected:	 Value Chain
Strategy:	
Planning cycle: 1 to 5 years
Collaboration with vendors to analyse product integrity.
Updates to terms and conditions covering products in transit requirements.
Move away from non-cooperative vendors.
Increase quality control arrangements.
Opportunities: 	
Source locally where opportunities are available in the medium term horizon.
Financial Implications:
FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
Moderate Impact Moderate Impact
With Strategies in Effect
No Impact
No Impact
Low Impact
Low Impact
Opportunities
No Impact
No Impact
Low Impact
Low Impact
Capital Deployment
No Impact
No Impact
No Impact
No Impact
Assets/Activities % Affected
0%
Risk 4
Purchased electricity pricing increases as shifts to renewables increases.
Risk Type:	
Transitional
Horizon:	
Medium to Long term
Areas affected:	 Operations
Strategy:	
Planning cycle: 1 to 10 years
Increase on site electricity generation (Solar) to reduce reliance on purchased 
electricity for all Dicker Data locations.
Progress: 	
Dicker Data Head office and National DC now has 1590 solar panels installed along
with battery storage and has already seen a significant reduced reliance on purchased 
electricity.
Opportunities: 	
Promote energy conservation methods to employees through policy and 
procedure.
Financial Implications:
FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
Low Impact
Low Impact
With Strategies in Effect
No Impact
No Impact
Low Impact
Low Impact
Opportunities
No Impact
No Impact
No Impact
No Impact
Capital Deployment
Low Impact
Low Impact
Low Impact
Low Impact
Assets/Activities % Affected
0%
33

Risk 5
Fossil fuels phased out and no longer available
Risk Type:	
Transitional
Horizon:	
Long term
Areas affected:	 Operations
Strategy:	
Planning cycle: 1 to 10 years
Transition locations reliant on mains gas to alternate sources or for leased locations 
move to alternative locations if more favourable.
Replace non fixed equipment reliant on fossil fuel such as LPD Forklifts to alternate 
fuel types.
Progress:	
For all locations under Dicker Data control, just one site remains reliant upon mains 
	
	
gas supply, and just one site still operates non fixed equipment reliant upon fossil fuel.
Opportunities: 	
None
Financial Implications:
FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
No Impact
Low Impact
With Strategies in Effect
No Impact
No Impact
No Impact
No Impact
Opportunities
No Impact
No Impact
No Impact
No Impact
Capital Deployment
No Impact
No Impact
No Impact
Low Impact
Assets/Activities % Affected
0%
Risk 6
Significant price hikes for logistics expected when transitioning to non-fossil fuel powered vehicles
Risk Type:	
Transitional
Horizon:	
Long term
Areas affected:	 Operations
Strategy:	
Planning cycle: 5 to 10 years
Optimise goods to capacity ratios
Optimise goods to packaging ratios
Lower Pricing through improved commercial arrangements
Opportunities: 	
Introduce in house logistics to control costs
Financial Implications:
34

FY24
Short Term
Medium Term
Long Term
No Strategies
No Impact
No Impact
Low Impact
Moderate Impact
With Strategies in Effect
No Impact
No Impact
Low Impact
Low Impact
Opportunities
No Impact
No Impact
No Impact
Low Impact
Capital Deployment
No Impact
No Impact
No Impact
Moderate Impact
Assets/Activities % Affected
0%
Climate Resilience
Dicker Data is committed to building a resilient organisation that can withstand and adapt to the 
challenges posed by climate change. In reviewing the company’s current business model and 
strategies, the impact of climate change upon the business is expected to be low and therefore an 
internal scenario analysis was adopted using two climate change scenarios from reliable external 
sources and will be repeated every 5 years. Prior to a new analysis being undertaken a review of 
analysis method adequacy will occur.
The latest analysis was undertaken during FY24. 
The Network for Greening the Financial System (NGFS) has developed scenarios that offer forward-
looking insights into possible impacts across different regions from various indicators. These 
scenarios address both acute and chronic physical risks, as well as the necessary transitions needed 
to achieve specific outcomes.
For the analysis undertaken, Dicker Data utilised inputs from two NGFS scenarios.
	
■
Optimistic (NGFS Net Zero 2050): An idealistic outcome being sought by governments globally 
in line with the Paris Agreement where global warming goals are to limit global temperature rise 
to 1.5°C.
Key Assumptions:
	
□
Policy Ambition: Temperatures to rise less than 1.5°C by the end of the century
	
□
Policy Reaction: Immediate and smooth
	
□
Technologies Change:  Fast change
	
□
Carbon Dioxide Removal: Medium to High Use
	
□
Regional Policy Variation: Medium variation
	
■
Pessimistic (NGFS Current Policies): A much less aggressive scenario, and which is aligned to 
current trajectories where global temperatures will rise by 3.0°C.
Key Assumptions:
	
□
Policy Ambition: Temperatures to rise to 3°C by 2080
	
□
Policy Reaction: None, current policies only
	
□
Technologies Change:  Slow change
	
□
Carbon Dioxide Removal: Low Use
	
□
Regional Policy Variation: Low variation
It is fully expected that actual outcomes will fall somewhere between these scenarios and why the 
above scenarios were deemed suitable and adopted for the analysis.
35

The analysis undertaken does not extend beyond 2040 due to increasing uncertainties while still 
encompassing long term horizons. It compares the effects on key business areas, including property 
and equipment, supply and distribution, and workforce.
The analysis for each relevant physical risk indicator was conducted at the country level, with 
reference to the median and upper bound values within the 5-95% percentiles providing 90% overall 
confidence.
Climate Related Metrics
Greenhouse gas emissions
Aligning to the Greenhouse Gas Protocol corporate accounting and reporting standard, Dicker 
Data are committed to reporting across Scopes 1, 2, and 3. We have conducted an assessment for 
relevance and materiality of Scope 3 categories and currently our reporting is limited to Categories 1, 
6, and 7. Our reporting will continue to expand over time to include additional relevant and/or material 
categories when data becomes available, and methodologies can be established.
Greenhouse gas emissions were measured in accordance with our methodologies as disclosed 
within this report. Reporting is for whole of business absolute emissions and disaggregated by 
country of operation. The breakdown of our emissions for FY24 is illustrated below.
Scopes and Categories
Australia
tCO2e
New Zealand
tCO2e
Gross
tCO2e
Scope 1 greenhouse gas emissions
25.13
5.51
30.64
Scope 2 greenhouse gas emissions
1,124.00
25.97
1,149.98
Scope 3 greenhouse gas emissions
2,630.79
1,075.76
3,706.55
Category 1: Purchased goods and services
164.64
24.90
189.54
Category 6: Business travel
1,451.23
872.19
2,323.41
Category 7: Employee commuting
1,014.93
178.67
1,193.59
Internal carbon pricing
Dicker Data did not have an internal carbon price during the FY24 reporting period and it is not 
expected that an internal carbon price will be established.
Remuneration
Zero percent of executive remuneration was linked to Climate Related considerations.
Targets
For FY24 Dicker Data have not set any quantitative or qualitative climate-related targets to monitor 
progress towards achieving its strategic goals, or in reducing its greenhouse gas emissions, and was 
not required to meet any targets by law or regulation during FY24.
Dicker Data have not used any Carbon Credits to offset against its emissions during FY24.
Basis and Methodology
The purpose of this section is to provide the basis for preparation of key metrics used for FY24 
36

reporting of Green House Gas emissions generated within its operational boundaries. Our 
boundaries, methodologies, scope, and categories were aligned to the Green House Gas Protocol 
corporate accounting and reporting standard.
Dicker Data selected an operational approach for the determination of its in-scope undertakings 
and centralised data collection was implemented to ensure key oversight and control of its reporting 
inputs and outputs.
Dicker Data operate several offices, warehouses and trade centres within Australia and New 
Zealand. A review of each location was undertaken to assess its applicability to our FY24 reporting.
Buildings or parts of buildings leased by Dicker Data but not tenanted by its own employees (sub 
leased) were deemed out of scope and not included.
Methodologies
Scope 1
Each In-Scope location was assessed by on site management against the three areas defined within 
the GHG Protocol.
Stationary Combustion
The relevance of this criteria was assessed through a review of a mains gas supply or the purchase 
of fuels/gases. Just one site had relevance due to a mains gas supply.
Using supplier invoicing the type of gas and total gas consumed during the period in Megajoules was 
obtained. For quarterly invoices which did not fully align to the reporting period, invoices with the 
most billing days falling within the reporting period were selected.
Energy content factors and emissions factors (EF) were obtained from the national greenhouse 
accounts factors 2024, and the resulting emissions calculated using:
Fugitive Emissions
Air conditioners using refrigerant were assessed with nominal gas charge and refrigerant type being 
recorded. Additional refrigerant charge due to increased pipe runs were included where available.
Global warming potentials (GWP) for each refrigerant type were obtained from the Intergovernmental 
Panel on Climate Change (IPCC) reports and for blended refrigerant’s, blend ratios were obtained 
allowing warming potentials to be calculated. Equipment leakage rates were taken from the national 
greenhouse accounts factors.
Due to difficulties in implementing the GHG Protocol Lifecycle Stage Method (Mass Balance Method) 
to calculate emissions, the national greenhouse accounts factors method of calculation was adopted 
using:
This methodology was also adopted for New Zealand locations.
Where nominal gas charge and/or refrigerant type could not be established, emissions were 
estimated using values from similar equipment within other locations.
Where insufficient details could be obtained about an air conditioning unit to allow an estimation, 
unit emissions were taken to be zero.
Mobile Combustion Emissions
Emissions for LPG powered forklifts were calculated through a review of purchase invoices, with total 
Kilograms of LPG purchased converted to Megajoules and emissions calculated using:
37

Scope 2
The GHG Protocol location-based method of reporting was used to determine Scope 2 emissions.
For each In-Scope location, purchased energy data was obtained directly from energy retailer 
invoicing provided on a monthly or three-monthly basis.
Where only limited invoiced data was available during FY24, available data within FY24 was 
extrapolated to provide a full year usage equivalent.
Where no invoiced data was available during FY24, purchased energy was estimated based on the 
energy use for a similar operational location and using a floor area ratio to obtain an equivalent 
energy usage on the basis of building size.
For Australia, the latest state based emission factors (EF) were obtained from the national 
greenhouse accounts factors 2024. For New Zealand, the latest available country wide average 
emissions Factor (EF) were obtained from the measuring-emissions-a-guide-for-organisations-2024-
detailed-guide.
The resulting emissions were calculated using:
Scope 3
Category 1: Purchased goods and services
The spend-based method was used for the determination of emissions within this category.
Being a distribution business, the majority of purchases related to materials used for the containment 
and transportation of goods. This category was therefore limited to the emission lifecycle models for:
	
■
Pallets and other wooden products
	
■
Plastic wrap, film, bags and similar items
	
■
Cardboard boxes, liners, corners and similar items
	
■
Stationery and other paper products
Reporting was for total spend across each lifecycle model category with an appropriate emissions 
factor applied, and with emissions factors (EF) being obtained from the most recent New Zealand 
Environmentally Extended Input Output (EEIO) reports.
EEIO factors were adjusted to account for the movement during the EEIO release year and reporting 
year, and the country of origin. These adjustments included the change in CPI to capture inflationary 
effects, and average exchange rates during the EEIO release year to determine local currency 
equivalency.
For each of the four supply chain categories, the resulting emissions were calculated using:
Category 6: Business travel  
The distance-based method was used for the determination of emissions within this category and 
which was restricted to air related business travel only. Taxis and other similar modes of travel were 
unmeasurable and therefore not included. Emissions relating to accommodation is optional within the 
GHG Protocol and was not measured.
Dicker Data utilise a travel partner to manage all business-related air travel. Data provided by this 
partner provided distance travelled and emissions for each trip undertaken during FY24. Total 
emissions were tallied and reported.
38

Category 7: Employee commuting
The distance-based method was used for the determination of emissions within this category.
Usual travel habits for staff within Australia and New Zealand were obtained during an internal 
survey. Information captured was limited to the vehicle type, Km’s travelled during commute, 
tenure, and work patterns. Where staff indicated the commencement of their tenure was during the 
reporting year tenure was calculated based upon the start of the month of commencement and the 
survey release date.
Erroneous responses were removed.
The number of working days within a year was taken to be 225 days to account for public holidays, 
annual and personal leave.
Individual Km’s travelled were calculated using:
The survey was none mandatory with all responses being anonymous, as such the commuting habits 
for those who provided valid responses were extrapolated to account for all staff using:
Emission factors (EF) were obtained from various sources using the latest and best available for each 
mode of transport and suitable for use with the distance-based method of reporting.
Resulting emissions were calculated using:
39

Directors’ Report
The following persons were Directors of Dicker 
Data Limited during the financial year end up to 
the date of this report. Directors were in office 
for this entire period unless otherwise stated.
The Directors’ present their report, 
together with the financial statements, 
on the consolidated entity (referred to 
hereafter as the ‘consolidated entity’) 
consisting of Dicker Data Limited 
(referred to hereafter as the ‘Company’ 
or ‘parent entity’) and the entities it 
controlled at the end of, or during, the 
year ended 31 December 2024.
Directors
	
■
David J Dicker
	
■
Fiona T Brown
	
■
Mary Stojcevski 
	
■
Vladimir Mitnovetski 
	
■
Ian Welch 
	
■
Leanne Ralph
	
■
Kim Stewart-Smith
40

Principal Activities
The principal activities of the consolidated entity during the year were wholesale distribution of IT 
hardware, software, cloud, access control, surveillance and emerging technologies. There were no 
significant changes in the nature of the activities carried out during the year.
Dividends
The total dividends declared and paid during the financial year were 48.0 cents per share or a total 
of $86.6m, fully franked (2023: 32.5 cents per share, $58.5m), representing an increase of 47.7%.
Dividends declared and paid during the financial year were as follows: 
Record 
Date
Payment 
Date
Dividend
/Share
(in Cents)
Amount
(in 000’s)
Type
FY
Amount 
Franked
15-Feb-24
01-Mar-24
15.00
27,043
Final
2023
100.0%
17-May-24
03-Jun-24
11.00
19,839
Interim 1
2024
100.0%
16-Aug-24
02-Sep-24
11.00
19,845
Interim 2
2024
100.0%
15-Nov-24
02-Dec-24
11.00
19,854
Interim 3
2024
100.0%
Total
 
48.00
86,581
 
 
 
Our dividend policy provides for fully franked dividends to be paid on a quarterly basis, with the 
intent to pay out 100% of the underlying after-tax profits from operations after taking into account 
projected capital expenditure and cash requirements. The Dividend Reinvestment Plan (DRP) 
introduced in March 2014 has been retained for the 2024 year. Of the $86.6m dividends paid (2023: 
$58.5m), $84.0m was paid as cash dividends (2023: $56.7m) and $2.6m participated in the DRP 
(2023: $1.8m). 
A final dividend for FY24 of 11.00 cents per share was declared on 10 February 2025 with a record 
date of 14 February 2025 and a payment date of 3 March 2025. With the three interim dividends paid 
during FY24, this will bring total dividends paid for the FY24 year to 44.0 cents per share. The FY24 
dividend paid represents a small decrease of 2.2%, marginally down from 45.0 cents paid for FY23.
Dividends declared and paid for the financial year FY24 were as follows: 
Type
FY
Payment 
Date
Dividend
/Share
(in Cents)
FY
Payment 
Date
Dividend
/Share
(in Cents)
Interim
2024
03-Jun-24
11.00
2023
01-Jun-23
10.00
Interim
2024
02-Sep-24
11.00
2023
01-Sep-23
10.00
Interim
2024
02-Dec-24
11.00
2023
01-Dec-23
10.00
Final
2024
03-Mar-25
11.00
2023
01-Mar-24
15.00
 
 
 
44.00
 
 
45.00
41

Operating and Financial Review
A snapshot of the operations of the consolidated entity for the full year and the results of those 
operations are as follows:
Note
Dec-24
$’000
Dec-23
$’000
Change $ 
$’000
Change 
%
Statutory revenue
1
2,283,022
2,267,711
15,311
0.7%
Gross profit
324,171
315,539
8,632
2.7%
Net operating profit before tax*
113,194
117,325
(4,131)
(3.5%)
Net statutory profit before tax
113,194
116,412
(3,218)
(2.8%)
Net profit after tax
78,694
82,145
(3,451)
(4.2%)
 
Gross revenue
1
3,373,064
3,278,063
95,001
2.9%
*Operating profit before tax excludes one-off costs of $nil (2023: $0.9m)
Reconciliation of statutory revenue to gross sales:
Gross Revenue Non-IFRS
Note
Dec-24
$’000
Dec-23
$’000
Statutory revenue
1
2,283,022
2,267,711
Add: Non-IFRS adjustment
1,090,042
1,010,352
Gross sales and other revenue
1
3,373,064
3,278,063
Less: other income
(10,245)
(8,327)
Gross sales
3,362,819
3,269,736
Note 1 – Gross revenue is non-IFRS unaudited financial information and does not represent revenue in accordance with Australian 
Accounting Standards. This represents gross proceeds from sale of goods and services, both as agent and principal and other revenue. 
Refer to above table for reconciliation of statutory revenue to gross sales and revenue.
Revenue
The statutory revenue for the consolidated entity for the 12 months to 31 December 2024 was 
$2,283.0m (Dec23: $2,267.7m) up by $15.3m, or 0.7%. 
The Company is a value-added distributor of IT hardware, software, cloud, access control, 
surveillance and emerging technology solutions for the corporate and commercial market. The 
statutory revenue recognises sales of virtual services and software as agent and therefore revenue 
is represented as the agency fee made up of standard commission and other incentives driven by 
volume and other metrics.
Gross sales for the 12 months to 31 December 2024 were $3,362.8m (Dec23: $3,269.7m), up by 
$93.1m (+2.8%). Gross sales represent the gross proceeds from sale of goods and services, both as 
agent and principal. 
At a country level gross sales for Australia were $2,802.0m (2023: $2,719.5m), and for New Zealand 
$560.8m (2023: $550.2m). In Australia gross sales grew by $82.5m (+3.0%) and in New Zealand 
sales grew by $10.6m (+1.9%).
At a sector level, we experienced growth across all product segments, with gross sales for hardware 
and virtual services at $2,387.5m (+$45.1m, +1.9%), software sales at $963.8m (+$48.8m, +5.3%) 
42

and representing 28.7% of our gross sales, with our services revenue decreasing to $11.5m 
(-$0.8m, -7.3%). We continue to see strong growth in both subscription and recurring revenue from 
our software business making up $895.2m of sales, (+7.5%), reflecting the ongoing trend toward 
recurring revenue models by vendors, as well as Dicker Data’s increased market share.
At a category level growth is attributed to strong growth in our retail segment and with growth 
contribution from our AV and our access and surveillance business. Our software business also had 
growth driven by new vendor additions.
Gross sales
FY24
($m)
FY23 
($m)
Change
(%)
 Software
  963.8
914.9
5.3%
 End Point Solutions
 956.0
      983.6
-2.8%
 Advanced Solutions
   738.9
763.7
-3.3%
 Access and Surveillance
   118.3
109.6
7.9%
 Audio Visual
201.0
193.3
4.0%
 Retail
 373.4
292.2
27.8%
 Services 
11.5
12.4
-7.3%
Total Gross Sales
3,362.8
3,269.7
2.8%
Gross Profit
Gross profit for the reporting period was up 2.8% at $324.2m (2023: $315.5m). Gross profit margins 
improved in the current year at 14.2% (2023: 13.9%), with improvement in gross margins in our New 
Zealand business. In addition to improvement in margins in New Zealand, margin improvement also 
attributable to increase in breadth of higher margin vendors with Australian gross profit margin 
finishing at 14.6% (2023: 14.6%) and New Zealand improving to 12.1% (2023: 10.6%).
Expenses
Operating expenses 
Operating expenses (excluding one-off costs) were $182.4m (2023: $172.1m) for the reporting 
period, up by 6.0%, also increasing as a proportion to statutory revenue at 8.0% (2023: 7.6%), as 
additional costs were incurred in respect of bad debts and increase in bad debt provisioning.
The increase in expenses is also partly attributed to an increase in salary related expenses. Salary 
costs were $147.0m (2023: $141.9m) an increase of $5.1m (+3.6%), slightly increasing as a proportion 
of statutory revenue to 6.4% (2023: 6.3%). Whilst headcount across the group remained relatively 
flat the increase in salary costs is partly due to increase in the superannuation guarantee rates and 
increase in employee provisions.
Other operating expenses, excluding one-off costs increased by $5.2m to $35.4m (2023: $30.2m), 
increasing as a proportion of statutory revenue to 1.6% (2023: 1.3%), mainly driven by increase in bad 
debts written off and provision for doubtful debts, as well as increases in travel for vendor related 
events.
Depreciation, amortisation and interest
Depreciation and amortisation for the reporting period was $14.1m (2023: $13.9m), an increase 
of $0.2m, predominantly relating to increase in depreciation related to utilisation of warehouse 
expansion. Included in this number is also $4.3m for amortisation of identifiable intangibles. 
Depreciation on the Right of Use Assets (ROUA) for capitalised leases amounted to $4.1m (2023: 
$4.2m). 
Finance costs in the reporting period were $24.6m, up by $4.2m from the prior year (2023: $20.4m), 
29%
4%
6%
11%
22%
28%
43

attributed to the full year effect of incremental interest rate rises significantly increasing the 
Company’s cost of debt and increase in average drawn debt balances throughout the year.
Net Profit
Statutory profit before tax finalised at $113.2m (2023: $116.4m) down by $3.2m or 2.8%. Net profit 
after tax was also down to $78.7m (2023: $82.1m), down by $3.4m decreasing 4.2%. 
Operating profit before tax finalised at $113.2m (2023: $117.3m, after adding back one-off costs of 
$0.9m), down by 3.5%.
Weighted average earnings per share finalised at 43.6 cents per share (2023: 45.6 cents), down by 
4.4%. 
Statement of Financial Position
Total assets as at 31 December 2024 were $1,061.9 (2023: $927.0m). 
Cash finalised at $45.8m, up by $34.2m (2023: $11.6m), with strong end of year collections. Trade 
and other receivables were up from the previous year to $519.5m (2023: $485.7m), an increase of 
$33.8m. Inventory levels were also up with inventories finishing at $286.7m (2023: $218.9m), up by 
$67.8m. Inventory days increased to 34 days (2023: 27 days). Trade and other payables finalised at 
$408.8m (2023: $320.0m), up by $88.8m. 
Total investment in net working capital was $397.4m (2023: $384.5m) up by $12.9m from the 
previous year. The increase in working capital is attributed to an increase in both debtor and 
inventory days, although this was moderated with increases in payables days with less opportunity 
to take advantage of supplier settlement discounts. 
Property, plant and equipment was $94.8m (2023: $96.7m) a decrease of $1.9m with no major 
capital additions during the year. 
Total liabilities as at 31 December 2024 were $812.2m, up on the prior period by $140.5m (2023: 
$671.7m). Total borrowings finalised at $351.6m (2023: $300.9m), up $50.7m representing a debt-
to-equity ratio of 1.41 (2023: 1.18). The increase in borrowings is reflected in an increase in the drawn 
balance of the Westpac receivables facility increasing to $245m from $197m as at December 2023. 
This was supported by an increase in the facility limit when this facility was renewed in April 2024.
Equity has decreased to $249.7m (2023: $255.3m) predominately due to the impact of the increase 
in the paid dividend over the prior year.
Equity Movement
$'000
Equity 31 Dec 2023
255,336
Comprehensive income for FY24
78,320
Share issue – DRP
2,642
Dividends paid
(86,581)
Equity 31 Dec 2024
249,717
Significant Changes In The State Of Affairs
Asia expansion 
During the year the Company has incorporated new entities in both Singapore and Philippines with 
view to expanding its operations in Asia in the future. These entities did not trade during the FY24 
year however are included in the Consolidated Group for the purpose of the FY24 Financial Reports.
44

Matters Subsequent To The End Of The Financial Year
Extension of Bank of New Zealand Facility 
The Bank of New Zealand facility in NZ is maturing in May 2025. The Company has received 
indicative approval that the facility will be rolled over for a further 12 months subject to standard 
credit review.
Westpac Cash Advance Facility
The Westpac Cash Advance Facility is maturing in August 2025. The Company has received 
indicative approval that the facility will be rolled over for a further 12 months subject to standard 
credit review.
There were no other significant matters subsequent to the end of the financial year. 
Likely Developments and Expected Results of Operations
Technology will be centre stage for businesses, governments and communities in 2025, as they 
pursue increased efficiencies, productivity and overall growth amidst the projected improved 
macroeconomic conditions. Rapid advancements in Artificial Intelligence (AI) are expected to see 
2025 become the year of Agentic AI, as companies deploy their first AI employees and look to 
the technology to improve everything from basic tasks, to informing complex strategic decisions. 
Increased investment into scaling AI solutions by the Company’s vendors and partners is expected 
to positively impact the Company as new investments into the supporting technology infrastructure 
increases, with several datacentre builds and fitouts being announced in Australia and New Zealand 
as other Asian countries, such as Singapore, reach capacity.  
The Company enters 2025 with an optimistic outlook. Inflation appears to have stabilised in Australia 
and New Zealand and interest rates in other developed economies are abating, with local markets 
expected to follow this trend during the Company’s FY25 period. The Company’s success in FY25 is 
pegged to the following key market opportunities; Artificial Intelligence, Windows 10 End of Support, 
Cybersecurity and Market Convergence, alongside driving deeper engagement with our partners 
and assisting them in driving broader technology refreshes, focused on replacing infrastructure 
deployed in the 2020 and 2021 periods. 
Artificial Intelligence (AI) 
Two years after AI burst onto the technology scene, its evolution has been rapid. AI is now deeply 
integrated into countless technologies that are delivering real-world impact for businesses and 
people, and 2025 is set to become the year of Agentic AI, where organisations will deploy their first 
AI employees. Despite the high levels of hype surrounding AI, the nascent technology is delivering 
a meaningful impact on the Company and is projected to play a key role in sales growth in the FY25 
period and beyond. 
Industry sources had initially predicted that sales of AI PCs and their high-end counterparts, 
Copilot+ PCs, would contribute only a high single digit percentage to the overall device sales mix. 
In stark contrast to the forecast, the Company closed the FY24 period with AI enabled devices 
representing more than double the forecasted percentage of our overall device sales mix. This signal 
demonstrates the early adopter mentality of Australian and New Zealand businesses and is  an early 
indicator of the device mix demand the Company will be required to service in the FY25 period. 
The Company worked tirelessly throughout the FY24 period to successfully establish itself as 
Australia and New Zealand’s go-to distributor for AI. Dicker Data is the exclusive NVIDIA distributor 
for Australia and New Zealand, has been appointed as the go-to-market distributor for AI solutions 
for a number of global technology brands, as well as establishing an ecosystem of new AI technology 
brands to complement the AI solutions our partners are developing and deploying. The strategy led 
to increased AI sales in the Company’s FY24 period and has positioned the Company well for several 
incremental AI opportunities that are expected to transact in the FY25 period. 
There has been a marked increase in foreign investment into Australia and New Zealand as the race 
to develop local and regional AI capacity continues. New datacentres have been earmarked for our 
region, which is leading to increased local demand for the core and support infrastructure required 
to operate these datacentres and the hypercompute clusters housed within them. The Company 
45

expects these datacentres to generate sustained demand for the required AI-enabled technologies, 
particularly as our region has emerged as an attractive location for new datacentre builds. 
Windows 10 End Of Support 
With Windows 10 fast approaching End of Support in October 2025, several industry sources report 
that there are millions of PCs that are still to be refreshed across Australia and New Zealand. The 
Company is proactively working  alongside Microsoft and its key device vendors to capitalise on 
this generational opportunity. Earlier in the Company’s FY24 period, Dicker Data was selected as 
Microsoft’s exclusive go-to-market distribution partner for the strategic Windows 10 refresh initiative 
in Australia. Pleasingly, the Company has been retained in this position for the first half of the FY25 
period, resulting in increased investments from Microsoft and access to exclusive programs to 
accelerate the refresh opportunity. 
In December 2024 the Company held the first of its larger events to educate its partners on the 
Windows 10 opportunity, attracting hundreds of people in Sydney. As a prelude to the main event, 
the Company also held a closed roundtable event with key executives from top device partners 
in NSW to gather valuable feedback and information on what they’re seeing in the market and to 
identify areas where they require additional support to accelerate the refresh opportunity. Both 
sessions proved extremely valuable and will be replicated in other Australian states, as well as in 
New Zealand, in the first half of 2025. 
Whilst the Windows 10 Refresh motions have commenced amongst large enterprise and within 
heavily regulated industries, such as government, finance, health and insurance to name some, 
the broader opportunity in the small and medium segments has lagged. Citing budget constraints, 
economic concerns and a lack of understanding of the benefits of refreshing versus the 
ramifications of not, the Company’s partners faced significant hurdles in the FY24 period. With the 
economy showing early signs of improvement in FY25, the Company’s partners are optimistic and 
are indicating they expect to see the refresh opportunity accelerate in FY25 as the October deadline 
looms. 
Cybersecurity 
Despite the challenging market conditions faced by the Company in the FY24 period, cybersecurity 
remained an area of growth and focus. This trend is expected to continue in FY25, particularly as 
threat actors increase the sophistication of their attacks by leveraging AI for malicious purposes. 
Furthermore, recent research conducted by the Company with technology leaders in medium 
to large size end-customer businesses verified cybersecurity as a top priority for 2025. Closely 
aligned to the topic of cybersecurity, data management will also continue to play a key role in the 
Company’s success in FY25, particularly as businesses work to remain compliant with mandates 
from governments and the policies associated with cyber insurances. 
The Company is constantly reviewing its vendor portfolio to identify technology and solution gaps, 
and this practice will continue in FY25 as we move with the needs of the markets in which we 
operate to offer best in class solutions. Cybersecurity is an area that requires close monitoring and 
analysis due to the rapid evolution in the cyberthreat landscape, and the Company is well-positioned 
to continue growing its offerings in the cybersecurity segment in FY25.  
Investment into further building the Company’s technical competencies around cybersecurity 
solutions have yielded positive results and will continue in the FY25 period. Recognised as leaders in 
cybersecurity distribution in Australia and New Zealand, the Company’s technical staff have become 
the cornerstone of solution design and deployment for cybersecurity solutions. The Company’s 
objective in FY25 is to further build upon the cross-functional solution design capabilities of our 
teams to expand the lines of cybersecurity business our partners rely on us for, in turn creating more 
robust and tailored solutions that deliver better cybersecurity outcomes for our partners and their 
end-customers in the process.  
Market convergence 
The Company has spent many years building and diversifying the range of technology solutions 
represented. As industries traditionally outside, or adjacent to technology, either shrink or become 
increasingly influenced by technology, the Company is well positioned to capitalise on the 
opportunities created by these market forces. As covered in detail in previous years, the Company 
46

continues to disrupt the Professional AV market through the delivery of value-add services and 
increased accessibility to the broader technology spectrum. Similarly, the Company continues to 
disrupt and capture market share in the access and surveillance segment through its highly scalable 
distribution capabilities.  
It's expected that the Company’s technology partners will play an increasing role in both Professional 
AV and access and surveillance in the FY25 period. However more broadly, AI will become an entry 
point for technology to disrupt even more industries in FY25 and beyond, with the Company’s 
partners central to this movement. From healthcare, to sustainability, agriculture, education, retail, 
transportation, financial services, entertainment, construction and more, AI will revolutionise the way 
businesses operate in almost every segment. To accelerate this opportunity, the Company is building 
new AI ecosystem partnerships with technology companies that enable out of the box AI solutions 
that solve key business challenges across various industries. 
Responsibility for access and surveillance is converging with cybersecurity, with the Company’s 
partners set to gain additional business as a result. Access and surveillance are now viewed by 
many companies as a pillar in their overall cyber resiliency strategies, and the need for access and 
surveillance solutions to work with existing platforms and systems is driving increased demand for 
the Company and its partners. Dicker Data is uniquely positioned to assist partners with both their 
cyber and physical security needs. 
Material Business Risks
Risks
Key Drivers
Mitigations
Macroeconomic and competitor landscape
The external risk environment continues 
to be influenced by uncertainties in 
the macroeconomic and geopolitical 
landscape, including international 
disputes and trade tensions, and 
broader environmental threats including 
extreme weather events and continued 
pandemic induced slowdowns. Dicker 
Data’s competitive markets can also 
be impacted by local forces such as a 
slowing economy, disruptive product 
innovation, increased competitor activity, 
new entrants, and changes in customer 
strategies and preferences.
	
■Competitor activity.
	
■Movement in economic 
conditions. 
	
■Evolving geopolitical risk 
landscape. 
	
■Environmental factors 
including extreme 
weather and pandemics.
	
■Regular oversight and 
monitoring across our markets.
	
■Adapting processes and 
business continuity discipline to 
respond to changing conditions. 
	
■Scenario modelling to enable 
changes to spending and 
investment approaches 
in response to changes in 
economic and business 
conditions.
IT resilience and cyber security
Dicker Data recognises the importance of 
protecting its systems, applications and 
data, and maximising its ability to recover 
rapidly in the event of a disruption. In 
particular, cyber security risks continue 
to pose an increased threat to all 
organisations, including risks associated 
with major ‘denial of service’ type attacks, 
ransomware, malware and other malicious 
hacking activities, all of which can lead to 
a significant disruption to operations.
	
■Increasing complexity 
and transformation of 
the IT environment. 
	
■Dynamic cyber security 
risk landscape. 
	
■Technology changes 
including additional 
adoption of cloud and AI 
technology.
	
■Proactive IT environment 
testing, monitoring, and 
maintenance. 
	
■Clearly defined strategy, and 
control environment. 
	
■Governance and oversight 
mechanisms and Audit and Risk 
Management Committee risk 
updates.
	
■Data security and awareness 
programs for all Dicker Data 
employees.
	
■Investment in best practice 
tools and processes to provide 
multi-layer protection against 
unauthorised access
47

Risks
Key Drivers
Mitigations
Refinance risk
Dicker Data currently has in place a working 
capital facility with Westpac Banking 
Corporation in Australia and Bank of New 
Zealand (BNZ) in New Zealand and both 
facilities were renewed in April 2024. Whilst 
the Board is confident on the Company’s 
ability to refinance these facilities there is 
no guarantee that in the future Dicker Data 
will be able to extend, renew or refinance its 
existing bank facilities at the required time, 
or access additional debt facilities if desired. 
Any new debt may also be available on terms 
that are less favourable to Dicker Data. If 
Dicker Data is unable to access adequate 
debt financing when desired, or debt that is 
provided is on commercially less favourable 
terms, this may affect its financing costs, 
or its ability to fund its operations, meet its 
growth aspirations or respond to competitive 
pressures. This in turn may affect Dicker 
Data’s financial performance. The Company 
is currently reviewing its refinance options for 
renewal or replacement of current facilities 
upon the end of their term. 
	
■Tightening of monetary 
policy resulting in higher 
interest rates.
	
■Strengthening of 
banking risk profiles.
	
■Maintaining strong 
relationships with our 
bankers.
	
■Dicker Data has the ability 
to reassess its current 100% 
dividend payout policy.
	
■Ability to raise more capital 
through a share issue.
Supply chain and transportation disruption
Dicker Data operates within and relies on 
a global supply chain, which requires the 
ability to access, and transport products to 
our customers. Intrinsic dependencies on 
suppliers or regions can result in the risk 
of disruption to our supply chain, including 
shortages or delays associated with 
geopolitical uncertainty, extreme weather, or 
pandemic induced slowdowns.
	
■Evolving global and 
geopolitical risk 
landscape. 
	
■Freight and 
transportation 
dependencies.
	
■Points of sensitivity in 
the supply chain. 
	
■ Component/raw 
material shortages
	
■Ability to flex working capital 
holdings where shortages 
are foreseen. 
	
■Robust contractual 
agreements and protections. 
	
■Ongoing program to ensure 
diversification of suppliers 
across multiple regions.
People and talent
Dicker Data requires highly skilled talent 
to continue to ensure we have the right 
expertise to continue to drive growth in 
the business. Retention and recruiting are 
expected to remain challenging due to low 
unemployment rates, as a result we need to 
actively manage key talent risks within the 
business.
	
■Competitive talent 
market where demand is 
exceeding supply. 
	
■Increasing expectations 
from the workforce 
in the current labour 
market. 
	
■Evolution of flexibility in 
role design in the post-
COVID-19 environment.
	
■Employer of choice by 
continuing to build strong 
organisation culture and 
leadership.
	
■–Succession planning 
process for key roles
	
■Remuneration structure 
reviews and benchmarking. 
	
■Attraction and retention 
strategies with broad 
employee value proposition.
48

Risks
Key Drivers
Mitigations
Legal and compliance risk
Dicker Data must comply with a broad range 
of laws and regulations, as well as its legally 
binding contracts and agreements, whilst 
also ensuring that any breaches (potential or 
actual) are identified and handled in a timely 
and proactive manner. The ever-expanding 
complexity of regulatory and contractual 
obligations is also growing as the Dicker Data 
business evolves.
	
■Growing span and 
complexity of Dicker 
Data’s regulatory 
landscape. 
	
■Increasing regulatory 
requirements across 
a range of areas (e.g. 
ESG). 
	
■Large volume of 
contracts and 
agreements across the 
business.
	
■Dedicated in-house HSE, 
procurement and legal 
personnel. 
	
■Mandatory policies, 
procedures, training and 
education provided covering 
	
■key regulatory and 
compliance areas.
Environmental, social, and corporate governance (ESG)
Dicker Data’s operations must continue to 
progress our journey to reducing our impact 
on the environment and respond to legislative 
requirements in this area. We also recognise 
the reputational risk associated with any 
failure against ESG reporting or disclosure 
obligations.
	
■Source of growing 
stakeholder 
expectations. 
	
■Depth and complexity of 
the supply chain. 
	
■Increasing regulatory 
landscape surrounding 
ESG.
	
■ESG governance framework 
in place. 
	
■Developing integrated 
reports and ESG targets. 
	
■Dedicated team committed 
to advancing our ESG 
credentials.
	
■Member of APCO.
	
■Regular review and oversight 
of ESG initiatives and risks 
by leadership team.
Wellbeing, health and safety
The health and safety of the Dicker Data 
team and customers is a central focus, 
and remains fundamental to the daily and 
weekly routines of our teams. Dicker Data 
is committed to creating a safe working 
environment where people are protected 
from both physical and psychological harm.
	
■Inherent safety risks 
arising in the normal 
course of business. 
	
■Diverse network of 
physical infrastructure 
and equipment across 
sites.
	
■Dedicated safety team, 
including supporting 
systems and controls. 
	
■Safety monitoring, 
inspection and training 
programs. 
	
■Investment in programs and 
resources that support our 
employees.
	
■Structured incident 
and injury management 
processes.
49

Risks
Key Drivers
Mitigations
Technological disruption and transformation
Dicker Data must keep pace with 
technological advancements that disrupt 
our operational and competitive landscape. 
Evolving technologies, including advanced 
robotics and artificial intelligence (AI), have 
the potential to impact Dicker Data and 
its broader markets, together with rapid 
developments in data science, machine 
learning and predictive modelling.
	
■Increasing speed and 
volume of technological 
disruption
	
■Changing consumer 
behaviours and 
expectations
	
■Impact of legacy 
infrastructure and 
environments
	
■Technology strategy and 
roadmap.
	
■Working with our partners on 
the safe and ethical adoption 
of AI solutions.
	
■Ensuring our teams have the 
right resources and training 
to adapt quickly to the 
changing environment.
Foreign exchange
Dicker Data undertakes certain transactions 
denominated in foreign currency and is 
exposed to foreign currency risk through 
foreign exchange rate fluctuations. Foreign 
exchange risk arises from future commercial 
transactions and recognised financial assets 
and financial liabilities denominated in a 
currency that is not the entity’s functional 
currency.
	
■Increasing purchases 
from vendors that trade 
with us in a foreign 
currency
	
■Instability in global 
financial markets
	
■In order to protect against 
exchange rate movements, 
Dicker Data has entered into 
forward foreign exchange 
contracts.
	
■Management has a risk 
management policy to 
hedge between 30% and 
80% of anticipated foreign 
currency transactions for 
the subsequent 4 months, 
with occasionally requiring 
a hedge for up to 12 months 
on specific transactions.
Environmental Regulation
The consolidated entity is subject to the requirements of the National Television and Computer 
Recycling Scheme (NTCRS), established under the Recycling and Waste Reduction Act 2020. There 
have been no instances of non-compliance throughout the year.
50

Interest in Equities:	
	38,302,417	
ordinary shares held by Rodin Ventures Ltd
Interest in Contracts:	
Nil
Special Responsibilities:	
Chairman and responsible for the overall business management and 
	
strategy as Chief Executive Officer.
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Interest in Equities:	
	25,741,673	
ordinary shares in Dicker Data Limited
	
	21,800,000	
ordinary shares held by BTR No 2 Pty Ltd
	
	
5,117,172 	
ordinary shares held by Fi Brown Trust No 1
	
	 2,988,598 	
ordinary shares held by BTR Investments No 1 Pty Ltd
	
	
106,128	
ordinary shares held by South Coast Developments Pty 
	
	
	
Ltd as trustee for the Brown Family Superfund
	
	
23,539 	
ordinary shares held by related parties
Interest in Contracts:	
Nil
Special Responsibilities:	
Member of the Audit and Risk Management Committee 
	
Member of the People and Culture Committee
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
David Dicker
Chief Executive Officer (CEO) and Chairman
David is the co-founder of the company and has been a director of the 
company since its inception. David’s role as CEO requires focus on Dicker 
Data’s business strategy and decision making and under David’s strategic 
guidance the company has enjoyed material growth, establishing Dicker 
Data as one of the leading Australia-based distributors of IT products.
Fiona Brown
Non-Executive Director
Fiona Brown is the co-founder of Dicker Data and currently serves as 
Non-Executive Director of the company. Fiona has been involved with the 
business since it started in 1978 and has been a director of the company 
since 1983. As a Non-Executive Director, Fiona brings her knowledge and 
experience in the IT distribution industry for over 40 years, of which the 
first 26 years was in the role of General Manager of the business.
Information 
on Directors
51

Interest in Equities:	
	
884,992	
ordinary shares in Dicker Data Limited
	
	
53,184	
ordinary shares held by Mitnovetski Pty Ltd as Trustee 
	
	
	
for Mitnovetski Superannuation Fund
	
	
20,627	
ordinary shares held by his wife
Interest in Contracts:	
Nil
Special Responsibilities:	
Responsible for the sales, vendor alliances and operations of the 
	
consolidated entity.
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Vladimir Mitnovetski
Chief Operating Officer
Vlad joined the company in 2010 in his role as Category Manager. In 
this role he was responsible for the establishment and growth of key 
volume vendors and was instrumental in the introduction of new vendors 
to Dicker Data’s portfolio. Vlad is a business technology professional 
with over 20 years of distribution industry experience. Vlad started his 
career at Tech Pacific and then Ingram Micro where he worked in various 
roles before progressing to business unit manager roles in enterprise 
and personal systems, working closely with many leading vendors. Vlad 
holds a Bachelor of Business degree from University of Technology and 
a master’s degree in advanced marketing and management from the 
University of New South Wales. Vlad was appointed to the position of 
Chief Operating Officer on 8th September 2014.
Interest in Equities:	
	
69,335	
ordinary shares in Dicker Data Limited
	
	
275,000	
ordinary shares held by Stojen Pty Ltd as trustee for 
	
	
	
Stojinvest Superannuation Fund
Interest in Contracts:	
Nil
Special Responsibilities:	
Responsible for the overall financial management and compliance 
	
functions of the consolidated entity
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Mary Stojcevski
Chief Financial Officer
Mary joined Dicker Data as Financial Controller in 1999. Her 
responsibilities include all of the financial management, administration 
and compliance functions of the company. Prior to joining Dicker Data 
Mary had over 15 years’ experience in accounting and taxation. Mary 
holds a Bachelor of Commerce Degree with a major in Accounting from 
the University of New South Wales and has a Certificate in Governance 
Practice with Governance Institute of Australia. Mary is also an Executive 
Director of the company and has been a director since 31 August 2010.
52

Interest in Equities:	
	
100,000	
ordinary shares in Dicker Data Limited
Interest in Contracts:	
Nil
Special Responsibilities:	
Responsible for IT operations, systems and processes
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Ian Welch
Chief Information Officer
Ian joined Dicker Data in March 2013 as General Manager – IT before 
he was appointed Chief Information Officer on 6th August 2015. Prior 
to officially joining Dicker Data Ian spent more than 15 years consulting 
to Dicker Data in various roles. During this period Ian had been 
instrumental in establishing and maintaining the IT Systems for Dicker 
Data and as a result has a deep understanding of the business and all 
related processes. Ian started his career as an IT Professional working 
as consultant to businesses in various sectors. A large proportion of 
these were in the logistics space which have allowed Ian to develop a 
fundamental understanding of such operations. Ian is also an Executive 
Director of the company and was appointed 6th August 2015.
Interest in Equities:	
	
3,553 	
ordinary shares in Dicker Data Limited
Interest in Contracts:	
Nil
Special Responsibilities:	
Chair of the People and Culture Committee 
	
Member of the Audit and Risk Management Committee
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Leanne Ralph
Non-Executive Director
Leanne was appointed as an independent non-executive director on 
13 December 2019. Prior to her appointment Leanne was the founder 
and director of Boardworx Australia Pty Ltd, a provider of outsourced 
company secretarial services, until its sale in 2017. Leanne is a highly 
experienced governance professional with over 15 years in this field, 
having held the role of Company Secretary for a number of ASX-listed 
entities across a diverse range of industries. She currently holds the 
roles of Non-Executive Director of Raise Foundation and is Company 
Secretary for various listed entities. Leanne’s prior executive positions 
focussed on accounting and finance for almost 20 years, as CFO of 
International Brand Management Pty Ltd, a business of importing, 
wholesaling and retailing luxury fashion brands, and Principal Client 
Advisor with Altus Financial, providing management accountant and 
company secretarial services to clients. Leanne holds a Bachelor of 
Business with majors in Accounting and Finance, is a Graduate Member 
of the Australian Institute of Company Directors and a Fellow of the 
Governance Institute of Australia.
53

Interest in Equities:	
	
4,941 	
ordinary shares held by Stewart & Smith Pty Ltd as 
	
	
	
Trustee for Stewart-Smith Superannuation Fund
Interest in Contracts:	
Nil
Special Responsibilities:	
Chair of the Audit and Risk Management Committee  
	
Member of the People and Culture Committee
Other Current Listed  
Company Directorships:	
None
Other Current Listed  
Company Directorships  
held in Previous 3 Years:	
None
Kim Stewart-Smith
Non-Executive Director 
Kim was appointed as an independent non-executive director on 18 
March 2021. Prior to her appointment Kim spent 20 years in senior 
roles in Professional Services Firms and is currently running her own 
Business Advisory and Chartered Accounting firm. She was also founder 
and director of business advisory at chartered accounting firm Altus 
Financial. Kim has also spent 3 years as Oceania Corporate Services 
Leader for Ernst & Young. In this role she oversaw a team of 65 both 
within Oceania and Manila delivering outsourced virtual CFO, finance, 
accounting and company secretarial services to clients of Ernst & 
Young. Kim has extensive experience in senior commercial finance roles. 
She was CEO of an international technology company that explored a 
strategic sale, and she spent 8 years as CFO and Company Secretary 
for Austereo and Mojo Publicis Advertising. Kim holds a Senior Executive 
MBA from Melbourne Business School, a Bachelor of Business with 
majors in Accounting and Finance, and she holds a Public Practice 
Certificate from the Institute of Chartered Accountants Australia and 
New Zealand.
Erin McMullen
Company Secretary 
Erin McMullen was appointed to the position of Company Secretary 
on 6th November 2018. Erin has over 10 years’ experience in company 
secretarial roles for various publicly listed and unlisted entities. Prior 
to this Erin worked in Executive Support and Managerial roles across a 
number of sectors.
54

Director Meetings
The number of meetings of the company's board of directors and of each board committee held 
during the year and the number of meetings attended by each director were:
Board
Audit &
Risk Committee 
Nomination & 
Remuneration 
Committee
Meetings 
eligible to 
attend
Meetings 
attended
Meetings 
eligible to 
attend
Meetings 
attended
Meetings 
eligible to 
attend
Meetings 
attended
Mr David Dicker 
12
12
-
-
-
-
Ms Fiona Brown 
12
12
4
4
3
3
Mr Vladimir Mitnovetski 
12
11
-
-
-
-
Ms Mary Stojcevski
12
12
-
-
-
-
Mr Ian Welch
12
12
-
-
-
-
Ms Leanne Ralph
12
12
4
4
3
3
Ms Kim Stewart-Smith
12
12
4
4
3
3
55

Remuneration 
Report
Introduction from the Chair of the People & Culture Committee 
Dear Shareholders,
On behalf of Dicker Data’s People & Culture Committee, I am pleased to present our Remuneration 
Report for the year ended 31 December 2024.
This report describes the linkage between our strategy, remuneration principles and remuneration 
framework and how these drive the significant shareholder returns Dicker Data has achieved.
In a highly competitive industry that does not provide for the development or maintenance of any 
economic moats, annual profit growth and, consequently, our dividends, is the primary driver of 
value. The primary driver of market value is also the primary determinant of executive remuneration. 
Incentives make up almost 90% of executive remuneration. Incentive payments are based on 
minimum net profit margin of 2.5% as measured against gross revenue. This ensures alignment with 
shareholder interests; it varies executive pay levels with profit levels and the company’s capacity to 
pay. It is also transparent, audited, simple to understand, and straightforward to administer.
The short-term profit focus (fed primarily by winning new business) feeds into long term wealth, 
since new business turns into annual recurring revenue, contributing to profits in future years. 
It is sensitive, too, to market sentiment. Management is motivated to resist downturns in small 
and medium enterprise (SME) business investment, and maximise opportunities when business 
investment is growing. This is evident from the table below:
Dicker Data Growth
10yr
5yr
1yr
Gross Revenue
408.29%
89.86%
2.97%
Net Operating Profit Before Tax
1,352.98%
76.58%
-3.52%
EPS
973.89%
29.42%
-4.36%
Dividends per Share
850.50%
77.78%
47.69%
TSR
1,470.47%
285.97%
-26.27%
FY24 Remuneration
There were no changes to non-executive director (NED) fees in FY24.
There has been no change in executive KMP remuneration in FY24. 
FY24 Outcomes
FY24 results saw a decline in earnings for the first time since listing. Given Australia’s economic 
growth has been the lowest since the recession of 1990, and significant cost inflation, this is not 
surprising. Whilst EBITDA remained flat increased interest rates impacted overall profitability. Our 
Small Medium Enterprise (SME) customer has found navigating high interest rates and a subdued 
economy challenging. Nevertheless, our revenues were still above GDP growth, suggesting our 
56

economies of scale and lower unit costs assisted the Company in gaining an increase in share of a 
highly fragmented and increasingly cost conscious market. 
Our share price declined 29.6% in FY24. We attribute this to a combination of the sale of around 
10% (18.3 million) of issued shares by founder, David Dicker, at a discount in a low liquidity market 
and market expectations of a tougher PC refresh cycle in a soft economy. We remain capital light, 
focused on business-to-business sales rather than to individual consumers, have a loyal and sticky 
customer base, tried and tested customer solutions, and still have a small share of a very large and 
fragmented small medium enterprise market for technology equipment and support.
Consistent years of high profit and relatively high dividend payouts have allowed us to reward 
shareholders. Dividends paid per share increased from FY23 to 48.0 cents in FY24, above both the 
5-year (41.5 cents) and 10-year average (29.7 cents). The Company maintained its 100% dividend 
policy and dividends paid in the FY24 year increased by 47.7% with a final dividend of 11 cents per 
share to be paid 3 March 2025.
Incentives and realisable remuneration (base pay plus incentives) were again highly correlated 
with profit and dividends realised by shareholders, consistent with prior years. Our executive pay 
alignment with profit is a key advantage of the Dicker Data framework. As FY24 Net Operating 
Profit Before Tax decreased slightly from the prior year, so has the pay of the COO, Vladimir 
Mitnovetski whose incentives are expressed as a direct percentage of this profit. At first glance, it 
may appear that the strong connection between performance and the pay of our CFO and CIO is not 
as consistent with that of the COO. This reflects an increase in the contracted profit share of CFO 
Mary Stojcevski and CIO Ian Welch from 1.5% to 2.0% from 1st October 2023. This was necessary to 
maintain relativities with other, non-KMP employees whose pay was also contracted share of profit.
Response to Second Strike
At our AGM held in May 2024, 57.99% of the votes received supported the remuneration report for 
the financial year ended 31 December 2023. Votes cast against the FY23 Remuneration Report were 
42.01%, which resulted in a second ‘strike’ (2 successive years of remuneration report resolutions 
when 25% or more votes were against). The votes against represented just 6.8% of Dicker Data’s 
issued shares. A board spill resolution required on a second strike did not pass with 97.14% of votes 
against the spill resolution and only 2.86% of votes for.
Proxy advisors and shareholder feedback indicated concern with the uncapped nature of the profit 
share plan, the absence of a long-term incentive plan and the lack of equity payments and/or 
deferral on the profit share plan. While this feedback may not reflect the views of most shareholders, 
it is probably a fair reflection of those that voted against the remuneration report. 
We do not agree with placing a cap on how much incentive an executive can earn providing it can 
be funded and is proportional to profit, as otherwise this would be a misalignment with the interests 
of shareholders, and act as a disincentive for better performance. It would be akin to saying to our 
team to stop making profit when they reach a prescribed level and that we as directors would be 
happy with this. To do so would be artificially capping the dividends that our shareholders could 
receive. Directors, and we believe our shareholders, would not be happy with this. Tolerance of 
modest performance is not part of our culture. We have risk bounds, including gearing and working 
capital. We share risk with executives, whose pay varies with profit. Within these risk bounds we 
want maximum performance. 
Nevertheless, while remaining true to our philosophy and rationale, we have considered how we 
might address the concerns of proxy advisors and shareholder feedback. As previously stated, 
our executives are under existing employment agreements and any changes to their remuneration 
structure must be discussed and agreed with them. There have been extensive discussions with 
our external remuneration advisers and executives to introduce a staged approach to a revised 
remuneration structure whilst still maintaining the abovementioned philosophy. Initially, discussions 
have centred on how we can cost effectively provide for a portion of executive remuneration to be 
delivered as equity via a long-term incentive plan. 
Therefore for FY25, a proportion of executives’ contractual entitlements will be converted to an 
LTI equal to 85% of salary at target.  It will be awarded as performance rights to fully paid ordinary 
shares that vest if performance requirements are achieved. The performance measure will be one 
that reflects the extent that earnings per share growth is delivered over a multi-year period.
57

Full details will be provided in the Notice of Meeting for our Annual General Meeting where we will 
seek approval of the equity grant for the executive directors (other than the founder, David Dicker).
Further, there is an intention that from FY26 a percentage of the STI will be deferred into equity, with 
this percentage increasing over three years.
Details of FY24 remuneration and a summary of our response to last year’s remuneration report vote 
are in the remuneration report.
Concluding Comments
Dicker Data’s remuneration is directly linked to performance. Our policy whereby almost all executive 
remuneration is tied to our profitability sets us apart from competitors, and ensures we attract, retain 
and focus the industry’s best talent on the key driver of shareholder returns and sustainable value. 
Moreover, unlike peers, it has a symmetry in that it can decline as easily as it can increase as has 
been the case for the COO this year.
Dicker Data remains focused on delivering growth. We believe that our remuneration structure 
combined with executives who have significant “skin in the game” positions us well to continue 
providing our shareholders with strong returns, ensures executive pay varies with performance, and 
exposes and aligns executives personal asset holdings with the long term interests of shareholders. 
The fact that all executive KMP (excluding David Dicker), purchased more shares in FY24, stresses 
the confidence of our executive team in our strategy and value.
Nevertheless, the board, with the cooperation and support of management who have agreed to 
contract amendments, believe we have found a solution that both preserves our philosophy, provides 
for more even direct shareholder alignment, is contingent on sustained longer term performance, has 
lower initial costs than current, and is fully deserving of your support.
Leanne Ralph
Chair of the People & Culture Committee
27 February 2025
58

Remuneration Report (Audited)
All information in this remuneration report has been audited as required by section 308(3C) of the 
Corporations Act 2001. The remuneration report is set out under the following main headings:
a.	
Consideration of FY23 strike feedback
b.	
Key management personnel
c.	
Principles used to determine the nature and amount of remuneration
d.	
Details of remuneration
e.	
Service agreements
f.	
Share-based compensation
g.	
Additional disclosures relating to key management personnel
a. Consideration of FY23 Strike Feedback
At our 2023 AGM held in May 2024, 57.99% of the votes received supported the remuneration report 
for the financial year ended 31 December 2024. Votes cast against the FY23 Remuneration Report 
were 42.01%, which has resulted in ‘strike’ against the remuneration report for FY23. Following a spill 
resolution at the FY23 AGM, that did not pass based on a second strike for the Remuneration Report, 
the cycle is renewed.
The following table summarises the issues raised by our shareholders and their proxy advisors in 
connection with the FY23 Remuneration Report resolution. Our assessment and consideration of 
these concerns are also in the table below.
Issue raised
Consideration by Company
No proportion 
of executive 
remuneration is 
deferred/delivered in 
equity
The introduction of an LTI from FY25 addresses this issue.
Dicker Data executives already have accumulated our shares with after tax 
proceeds from their incentive payments. Their personal exposure to total 
shareholder returns, and hence alignment with shareholder interests, is 
significant. Their “skin in the game” is considerably higher than executives in peer 
companies.
In FY22 a formal mandatory shareholding requirement was introduced for 
executives to have shareholdings equal to 300% of base pay to ensure all current 
and future executives achieve and maintain significant shareholdings. Although 
our executives have binding employment agreements, they have nevertheless 
fully endorsed this change. All have voluntarily agreed with this requirement. 
These requirements are matched only by very few of the larger ASX 300 
companies.
In FY24 all executives excluding the CEO/founder have purchased shares. This 
shows the executives have confidence in our company’s underlying value and or 
business strategy.
The following table breaks down the current shareholding levels as a proportion 
of base pay for each executive:
Name
Shareholding ($) as 
at 31 December 2024
Shareholding as a 
multiple of Base Pay
Vladimir Mitnovetski
$8,073,121
13.46
Mary Stojcevski
$2,899,301
11.60
Ian Welch
$842,000
3.37
59

Issue raised
Consideration by Company
No proportion 
of executive 
remuneration is 
deferred/delivered in 
equity
There is an argument that remuneration deferral with equity would assist in 
executive retention. In considering this we note that each member of the Dicker 
Data executive team has been at the company for over 10 years.
Nevertheless, we have considered how we might cost effectively provide 
for a portion of executive remuneration delivered as equity via a long-term 
incentive plan. This has required our executives’ support, as it requires them 
to amend contractual terms to forgo most of their superannuation for an at 
risk LTI grant. The board and our executives believe this can be achieved. 
Subject to shareholder approval, from FY25, the portion of the uncapped 9.5% 
superannuation on FY24’s executive base + short-term incentive remuneration 
above the maximum superannuation guarantee cap will be granted as 
performance rights under a long-term incentive plan, vesting at the end of year 3. 
We believe this combination of maintaining the extent that annual cash varies in 
direct proportion to profit and at risk stock ownership refines our pay philosophy. 
A proportion of the FY24 profit share paid as superannuation would be converted 
to share rights for better alignment, subject to a performance measure that 
reflects the extent that excess shareholder returns are delivered over a multi-
year period. The annualised expense will initially be less than the forgone 
superannuation, and only reach the same level of expense from 2027.
While subject to review, the Board will also consider introducing from the FY26 
year a requirement that percentage of the cash STI to be deferred in share rights.
No LTI plan
Subject to shareholder approval, our FY25 remuneration framework includes an 
LTI. This will be funded by executives forgoing their contractual entitlement to 
superannuation on salary and profit share (to the FY24 level). That is, the portion 
of the uncapped 9.5% superannuation on FY24’s executive base + short-term 
incentive remuneration above the maximum superannuation guarantee cap will 
be granted as performance rights under a long-term incentive plan, vesting after 
3 years. The share rights provide for better alignment than the superannuation 
executives have agreed to forgo. They will be subject to a performance measure 
that reflects the extent that earnings per share are delivered over a multi-
year period. The annualised expense will initially be less than the forgone 
superannuation, and may only reach the same level of expense from 2027 
(subject to performance). Executive directors other than founder, David Dicker, 
will be eligible. More details will be in the Notice of Meeting for our Annual 
General Meeting seeking approval for executive director grants.
Executives are entitled 
to a percentage of net 
operating income before 
tax without a limit on 
outperformance
The executive team has low levels of base pay in comparison to market practice. 
A larger proportion of executives’ realised remuneration is at risk relative to 
market practice. In the event that the gateway (a net profit margin of 2.5%) is not 
achieved no profit share incentive will be earned. 
Based on the feedback, it appeared that the uncapped profit share was an 
issue for some proxy advisors and investors because it can result in very high 
remuneration relative to similarly sized companies. This appeared to outweigh, 
for those that noted it, the very low remuneration relative to others that could 
result if performance was poor. It also appeared to ignore performance relative to 
other companies. Dicker Data values remuneration and performance symmetry. 
It does not subscribe to the view that executive pay can go up but not down. 
Hence our philosophy more equitably shares the risk between executives and 
shareholders. In FY24 our net profit before tax decreased by 3.5% and the COO’s 
pay decreased accordingly. (CIO and CFO remuneration did not decline given 
amended contractual profit shares, but ordinarily would have.) 
To cap the executive pay upside we would have to increase the floor on the 
executive pay downside. We do not want to condemn shareholders with 
mediocrity by in effect saying to executives we do not want them to outperform. 
We do. 
60

Issue raised
Consideration by Company
Executives are entitled 
to a percentage of 
net operating income 
before tax without a 
limit on outperformance
Introducing a cap on outperformance of executives would be demotivating, 
reduce executive retention, require Dicker Data to raise base pay and undermine 
the model that has increased shareholder wealth so significantly since listing as a 
public company.
Only one performance 
measure
Some proxy advisors and investors were concerned that there was a singular 
focus on one measure. To some investors this would increase risk that other 
important aspects would be disregarded, resulting in loss of value. 
We have considered this within the context of the nature of the company and 
executive shareholdings. 
With respect to the short-term incentive, we continue to believe the primary 
driver of value is profit. Since 2020, the net operating income before tax 
has grown at an average rate of 9.2% and earnings per share, and as such 
shareholder’s worth, has increased at an average of 7.1%. 
While there are other important performance factors, they are primarily 
hygiene measures. That is, they are necessary as leading indicators of ongoing 
organisational health. While they are not primary value drivers, failure to attend to 
these can be risky, and consequently impact share price and dividends. Hence as 
a board we do set standards for our executives, and measure and monitor these. 
Rather than signalling any of these out, assigning a weight, and varying pay 
according to a formula, we believe the impact of these is best managed through 
requiring high levels of executive share ownership. This is formalised with the 
Mandatory Shareholding Requirement (MSR).
b. Key management personnel
Key management personnel (KMP) covered in this report are detailed below:
Name
Position Held
Tenure
Executive 
Directors
David Dicker
Chief Executive Officer
Full Year
Vladimir Mitnovetski
Chief Operating Officer
Full Year
Mary Stojcevski
Chief Financial Officer
Full Year
Ian Welch
Chief Information Officer and Director of Operations
Full Year
Non-
Executive 
Directors
Fiona Brown
Non-Executive Director
Full Year
Leanne Ralph
Independent Non-Executive Director
Full Year
Kim Stewart-Smith
Independent Non-Executive Director
Full Year
c. Principles used to determine the nature and amount of 
remuneration
In determining the remuneration packages of its executives, the board adopts principles that ensures 
the level and composition of remuneration aligns with the interests of shareholders and allows us to 
retain our high performing talent.
61

These key principles are:
	
■
A focus on the performance of the business – executives are paid on the performance of the 
business;
	
■
A minimum performance threshold has to be met before any performance awards are paid. This 
ensures the variable reward is only available when value has been created for shareholders and 
when profit is in line with the approved budget;
	
■
The remuneration framework is simple, clear and transparent;
	
■
Competitive remuneration packages to ensure the retention of highly skilled long-serving 
personnel.
Executive remuneration and other terms of employment are reviewed annually by the board 
having regard to performance against goals set at the start of the year and relevant comparative 
information. Remuneration arrangements are specified in each executive’s employment agreement. 
Any changes to remuneration can only be legally amended with the consent of the executives. 
Remuneration is intended to attract and retain executives capable of managing the company’s 
operations, achieving the company’s strategic objectives, and increasing shareholder wealth.
Executives Remuneration Framework
The executive pay and reward framework includes the following components:
	
■
Base pay and benefits
	
■
Performance-related cash incentives
	
■
Other statutory-based remuneration components such as superannuation.
The combination of these comprises executives’ remuneration.
Base pay
Base pay is structured as a total employment cost package which may be delivered as a combination 
of cash and prescribed non-financial benefits at the executive’s discretion. There are no guaranteed 
base pay increases included in any senior executives’ contracts.
The following table summarises the executives base pay in FY24 as well as FY23:
Name
FY24
Base Pay
FY23 
Base Pay
David Dicker
-
-
Vladimir Mitnovetski*
$600,000
$600,000
Mary Stojcevski
$250,000
$250,000
Ian Welch
$250,000
$250,000
*The remuneration payable to Mr Mitnovetski will be a performance-based salary of the higher amount of either: (i) $50,000 per month; 
or (ii) 4% of net operating profit before tax in the quarter. Profit incentive is subject to the company achieving a net profit margin of 2.5% 
in a calendar quarter.
Performance-related incentives
Performance-related cash incentive entitlements are contingent on net operating profit before tax, 
but only if a minimum margin gateway has been achieved. Non-financial objectives are also assessed 
in rating executive performance in meeting the company’s business objectives. 
Using profit ensures variable reward is only available when value has been created for shareholders. 
62

Incentives vary with the company’s capacity to pay incentives. 
The executives’ cash incentive entitlements are assessed and paid either monthly or quarterly 
based on the actual performance against the relevant monthly profit with reconciliation at the end 
of the financial year against the audited full-year actual profit. The performance-related award is 
un-capped after the threshold performance metric has been achieved. The chairman and CEO is 
responsible for assessing whether an individual’s targets have been met.
The performance-related cash incentives align with Dicker Data’s strategy by:
	
■
Focussing Executives on the key value driver for share price and dividends.
	
■
Varying remuneration directly with the performance of the company and its capacity to 
pay.
	
■
Establishing a performance gateway requiring a minimum margin to be achieved before 
any payment is made.
	
■
Lowering risk through having relatively low fixed remuneration cost.
	
■
Providing for zero incentives in the event of poor performance.
	
■
Being simple to understand, monitor and audit.
	
■
Providing remuneration that is highly competitive, but only for executives who perform.
	
■
Aligning executive prosperity with shareholders via a high shareholding requirement.
Non-executive directors
Fees and payments to non-executive directors reflect the demands which are made on, and the 
responsibilities of, the directors. The board determines remuneration of non-executive directors 
within the maximum amount approved by the shareholders from time to time. 
Non executive director (NED) fees were last reviewed in 2022, and increased in 2023. There were no 
changes to NED fees in FY24. 
Leanne Ralph was appointed to the board as a non-executive independent director in December 
2019. Kim Stewart- Smith was appointed to the board as a non-executive independent director 
in March 2021. Fiona Brown is also non-executive director, but is also a major shareholder, and 
therefore not considered independent.
The following table summarises the total non-executive director fees, inclusive of statutory 
superannuation payments:
Name
FY24 
Director
Fees
FY23 
Director
Fees
Non-Executive Director Fees
$130,000
$130,000
Committee Chair Fees
$30,000
$30,000
Committee Member Fees
$10,000
$10,000
d. Details of remuneration
Relationship between remuneration and company performance
The overall level of executive reward takes into account the performance over the financial year with 
greater emphasis given to improving performance over the prior year. 
During the tenure of the current executive team, financial performance as measured by TSR has 
improved significantly, peaking in FY21 TSR performance has been mixed in the last three years. TSR 
improved in FY23 as FY22’s correction in re-rating technology stocks fundamentals settled and the 
market reflected Dicker Data’s financial performance and high dividends. A 29.6% decline in share 
63

price, reflecting a one-off, 18.3 million share sale by the company’s founder at a discount to market, 
subdued sales and expectations that the PC refresh cycle will be tougher in FY24 has not been 
enough to offset Dicker Data’s continued high dividend yield.
The following graph summarises net operating profit before tax and TSR over the past eleven years:
0%
500%
1000%
1500%
2000%
2500%
$0m
$20m
$40m
$60m
$80m
$100m
$120m
$140m
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
 TSR  
Net operating profit before tax 
Net operating profit before tax
TSR (since 1 Jan 2014)
The executive team increased the net operating profit on average over the last 5 years by 12.9%. 
As a large proportion of the executive’s remuneration package is based on net operating profit 
outcomes the executive remuneration also increased. Shareholder wealth has increased at an 
average rate of 5.8% per annum over this 5-year period.
The following table summarises FY24 performance outcomes for the executive team:
Name
*Net Profit 
Before Tax 
Margin 
Threshold
*Net Profit 
Before Tax 
Margin 
Achieved
Net Profit 
Before 
Tax
Profit Share %
Profit 
Share $
Vladimir Mitnovetski
2.5%
3.4%
$113.2m
4.0%
$4,527,758
Mary Stojcevski
2.0%
$2,263,879
Ian Welch
2.0%
$2,263,879
*Target and achieved net profit margin is based on net profit before tax as a percentage of gross revenue
As the net profit before tax margin percentage performance gateway was achieved for FY24, each 
executive received their incentive based on net profit before tax. The net profit margin target and 
achievement is calculated based on gross revenue. 
The following graph compares each executive’s performance to company outcomes over the last five 
years. This graph displays how the performance of the current executive team has driven growth 
over the past five years and how the executives have been paid for their performance.
64

0%
20%
40%
60%
80%
100%
120%
140%
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
$5,000,000
2020
2021
2022
2023
2024
TSR 
Profit Share ($) 
TSR (since 1 Jan 2020)
Vladimir Mitnovetski
Mary Stojcevski
Ian Welch
Mr Mitnovetski’s remuneration reduced by 2.78% in FY24, while Ms Stojcevski’s and Mr Welch’s 
remuneration increased. However, the FY24 result also reflects a slightly higher share of profit that 
was the result of an increase in the contracted profit share of the CFO and CIO 1.5% to 2.0% from 1st 
October 2023. This was necessary to maintain relativities with other, non-KMP employees whose 
pay was a contracted share of profit. Remuneration performance is expected to be more reflective of 
company performance, as it has been in the past, in coming years.
Total remuneration
Compensation paid to key management personnel is set out below. Key management personnel 
include all directors of the company and executives who, in the opinion of the board and CEO, have 
authority and responsibility for planning, directing and controlling the activities of the group directly 
or indirectly.
Short Term
Short Term
Long
Term
Share Based 
Payments
Cash
Incentive 
Cash 
Bonus
Super
Non-Cash
Annual 
Leave
Long
Service
Shares
Options
Total
Proportion of 
remuneration 
that is 
performance 
based
%
% of value of 
remuneration 
that consists 
of share Based 
Payments
%
FY
Salary 
& Fees
$
$
 
$
FBT
Reportable
$
Leave
$
Leave
$
$
$
$
Executive Directors
David Dicker
Chief Executive 
Officer
Dec-24
-
-
-
-
-
-
-
-
-
-
-
Dec-23
-
-
-
-
-
-
-
-
-
-
-
Vladimir Mitnovetski
Chief Operating 
Officer
Dec-24
 -
4,527,758 430,137
31,476
43,845 10,026
- 
- 
5,043,242
100.00%
0.00%
Dec-23
 -
4,657,349 458,008
11,741 177,636 10,002
- 
- 
5,314,736
100.00%
0.00%
Mary Stojcevski 
Chief Financial 
Officer
Dec-24
250,000 2,266,379 239,056
- (17,201)
4,202
- 
- 
2,742,436
90.49%
0.00%
Dec-23
250,000
1,910,173 205,216
- 
8,198
4,166
- 
- 
2,377,753
87.97%
0.00%
Ian Welch
Chief Information 
Officer
Dec-24
250,000 2,263,879 238,819
- 
7,797
2,157
- 
- 
2,762,652
89.73%
0.00%
Dec-23
250,000
1,910,173 205,216
- 
10,363
4,166
- 
- 
2,379,918
87.89%
0.00%
Non-Executive Directors
Fiona Brown
Dec-24
134,832
- 
15,168
- 
- 
- 
- 
- 
150,000
0.00%
0.00%
Dec-23
101,474
- 
11,026
- 
- 
- 
- 
- 
112,500
0.00%
0.00%
Leanne Ralph
Dec-24
152,810
- 
17,190
- 
- 
- 
- 
- 
170,000
0.00%
0.00%
Dec-23
113,871
- 
12,379
- 
- 
- 
- 
- 
126,250
0.00%
0.00%
Kim Stewart-Smith
Dec-24
152,810
- 
17,190
- 
- 
- 
- 
- 
170,000
0.00%
0.00%
Dec-23
113,871
- 
12,379
- 
- 
- 
- 
- 
126,250
0.00%
0.00%
TOTAL
Dec-24
940,452 9,058,016 957,560
31,476
34,441 16,385
-
-
11,038,330
-
-
Dec-23
829,216 8,477,695 904,224
11,741 196,197 18,334
-
-
10,437,407
-
-
65

Notes: 
(1) Superannuation is uncapped and paid at 9.5% under the Executive Services Agreement. 
(2) 100% of short-term incentive cash have vested.
(3) Short term incentive cash bonus for Mary Stojcevski includes $2,500 long service bonus for 25 years of service available to all 
employees
e. Service agreements
Terms of employment for the executive directors and other key management personnel are by way 
of Consultancy Agreement or an Executive Service Agreement (ESA). The contract details the base 
salary and performance-related incentives.
Consultancy Agreement for David Dicker
The company has engaged Rodin FZC (a company incorporated in Dubai) to provide the services 
of David Dicker to act as the Chief Executive Officer and Executive Director of the company on an 
as-needed basis. The Consultancy Agreement is dated 26 October 2010. The engagement is for 
an indefinite term. Either party may terminate the agreement on the provision of 6 months’ notice. 
No fee is payable by the company to Rodin FZC for the provision of the services. The agreement 
contains a number of post-termination restraints.
Deed of Adherence for David Dicker
The company and David Dicker have entered into a Deed of Adherence whereby Mr Dicker 
has agreed to adhere and comply with all covenants and obligations of Rodin FZC (a company 
incorporated in Dubai) set out in the Consultancy Agreement (between the company and Rodin FZC) 
to the maximum allowable extent permitted by law as if Mr Dicker was named as Rodin FZC therein. 
The Deed is dated 26 October 2010.
Executive Service Agreement for Vladimir Mitnovetski 
The company has appointed Vladimir Mitnovetski as Chief Operating Officer and Director of 
the Board of the company by way of an Executive Service Agreement (ESA). The ESA is dated 1 
September 2014. The appointment of Mr Mitnovetski is for an unspecified time. Either the company 
or Mr Mitnovetski may terminate the ESA with 3 months’ notice. The remuneration payable to Mr 
Mitnovetski will be a performance-based salary of the higher amount of either: (i) $50,000 per 
month; or (ii) 4% of net profit before tax in the quarter. Profit incentive is subject to the company 
achieving a net profit margin before tax  as measured against gross revenue, of not being less than 
2.5% in a calendar quarter, unless otherwise agreed. Superannuation is uncapped and payable 
on total of base and performance payments at 9.5%. The ESA also contains a number of post-
termination restraints. 
Executive Service Agreement for Mary Stojcevski
The company has appointed Mary Stojcevski as Chief Financial Officer and Director of the Board 
of the company by way of an Executive Service Agreement (ESA). The ESA is dated 25 October 
2010. The ESA confirms Ms Stojcevski’s continuous service with the company commenced from 
31 August 2010. The appointment of Ms Stojcevski is for an unspecified time. Either the company 
or Ms Stojcevski may terminate the ESA with 3 months’ notice. The remuneration payable to Ms 
Stojcevski comprises of a base remuneration of $250,000 per annum. Ms Stojcevski is also entitled 
to a performance incentive equal to 2% of the company’s net profit before tax. The performance 
incentive was increased effective 1st October 2023, up from 1.5%. The performance incentive is 
subject to net profit margin before tax as measured against gross revenue, of not being less than 
2.5%, unless otherwise agreed. Superannuation is uncapped and payable at 9.5% on total of base 
and performance payments. The ESA also contains a number of post-termination restraints.
Executive Service Agreement for Ian Welch
The company has appointed Ian Welch as Chief Information Officer and Director of the Board of the 
company by way of an Executive Service Agreement (ESA). The ESA is dated 1 September 2015. 
The ESA confirms Mr Welch’s continuous service with the company for all purposes commenced 
from 30 March 2013. The appointment of Mr Welch is for an unspecified time. Either the company 
or Mr Welch may terminate the ESA with 3 months’ notice. The remuneration payable to Mr Welch 
comprises a base remuneration of $250,000 per annum. Mr Welch is also entitled to a performance 
66

incentive equal to 2% of the company’s net profit before tax. The performance incentive was 
increased effective 1st October 2023, up from 1.5%. This is subject to net profit margin before 
tax as measured against gross revenue, of not being less than 2.5%, unless otherwise agreed. 
Superannuation is uncapped and payable at 9.5% on total of base and performance payments. The 
ESA also contains a number of post-termination restraints.
Mandatory Shareholding Requirement
The company has a policy that requires executive KMP and NEDs to have a minimum shareholding. 
Executive KMP are required to hold the equivalent to the 300% of base salary. This is expected to 
be met within 5 years of appointment or 5 years of the implementation of the policy. All executives 
comply with the policy. 
This is to be achieved by the later of:
	
■
the 5th anniversary of the commencement date of this Policy; 
	
■
the 5th anniversary of the commencement of the employee at the Senior Executive level; 
	
■
the 5th anniversary of the executive’s promotion within the Senior Executive level; or
	
■
the 5th anniversary of the Senior Executive’s commencement date with the Company 
(the Measurement Date).
NEDs are required to hold the equivalent of 100% of annual base board fees, consisting of pre-
tax base annual board fee at time of appointment excluding any fees for serving on a Board sub-
committee. 
This policy was implemented with effective date of 25 February 2022.
This is to be achieved by the later of:
	
■
the 5th anniversary of the commencement of this policy;
	
■
the 5th anniversary of the commencement of the NED’s service with the board.
f. Share-based compensation
No shares, rights, or options were granted to directors or key management personnel during the year 
ended 31 December 2024, no rights or options vested or lapsed during the year, and no rights or 
options were exercised during the year by directors.
g. Additional disclosures relating to key management 
personnel shareholding
The number of shares in the company held during the financial year by each director and other 
members of key management personnel of the consolidated entity, including their related parties, is 
set out below:
December 2024
Balance at the 
start of the year
Additions
Disposals
Balance at the
 end of the year
Ordinary Shares
David Dicker
 56,651,041 
-
  (18,348,624)
38,302,417
Fiona Brown
 55,777,110 
-
- 
55,777,110
Vladimir Mitnovetski
 903,803 
 55,000 
- 
958,803
Mary Stojcevski
 318,001 
 26,334 
- 
344,335
Ian Welch
 78,000 
 22,000 
- 
100,000
Leanne Ralph
 3,507 
 46 
- 
3,553
Kim Stewart-Smith
 4,941 
- 
- 
4,941
 113,736,403 
 103,380 
 (18,348,624)
 95,491,159 
67

December 2023
Balance at the 
start of the year
Additions
Disposals
Balance at the
 end of the year
Ordinary Shares
David Dicker
            58,010,000 
-
(1,358,959)
56,651,041
Fiona Brown
            55,753,261              23,849 
- 
55,777,110
Vladimir Mitnovetski
                  836,723 
            67,080 
- 
903,803
Mary Stojcevski
                  307,501              10,500 
- 
318,001
Ian Welch
                    68,000 
            10,000 
- 
78,000
Leanne Ralph
                    10,271 
                 121 
(6,885)*
3,507
Kim Stewart-Smith
                      4,941 
- 
- 
4,941
114,990,697 
111,550 
(1,365,844)
113,736,403
* shares transacted by a related party
This concludes the remuneration report which has been audited.
Transactions With Related Parties
The following table provides the total amount of transactions that have been entered into with 
related parties for the financial year.
Operating Activities
Financing Activities
Asset Finance
Related Party Entity
Purchase 
of Goods/
Services
Secondment 
Fee
Other
Total
Loan From  
Related Parties
Loan Repaid to 
Related Parties
Interest Paid
Interest 
Received
Principal 
Financed
Opening 
Balance 
1-Jan-24
Interest 
Received 
FY24
Closing 
Balance  
31-Dec-24
Australis Music Group 
Pty Ltd
$68,669
$186,390
-
$255,059
-
-
-
-
-
-
-
-
Rodin Cars Ltd
$182,109
-
-
$182,109
-
-
-
-
$611,594
-
$30,199
$104,030
Rodin Aviation Ltd
-
-
$280,901
$280,901
-
-
-
-
-
-
-
-
David Dicker
-
-
-
-
$94,950,786
($94,950,786)
($861,833)
$2,442
$524,969
$45,559
$338
-
Rodin Ventures Ltd
-
-
-
-
$126,658,237
($126,658,237)
($283,489)
$26,670
-
-
-
-
$250,778
$186,390
$280,901
$718,069
$221,609,023
($221,609,023)
($1,145,322)
$29,112
-
-
$30,536
-
 
There were a number of related party transactions during the year with Australis Music Group Pty 
Ltd an entity owned by Fiona Brown. The transactions included sale of goods and services which are 
billed to Australis Music Group Pty Ltd at an arm’s length commercial basis. The total amount billed 
to Australis Music Group Pty Ltd during the reporting period was $255,059.
There were a number of related party transactions during the year with the entity Rodin Cars Ltd, 
a New Zealand based entity owned by David Dicker. The transactions included sales of goods and 
services which are billed to Rodin Cars Ltd both in Australia and New Zealand at an arm’s length 
commercial basis. Total amount billed to Rodin Cars Ltd during the reporting period was $182,109. 
There were also related party transactions with Rodin Aviation Ltd, a New Zealand based entity 
owned by David Dicker. The transaction included services provided by Rodin Aviation to Dicker Data 
Ltd and the amount paid for services during the reporting period was $280,901.
Dicker Data Financial Services Pty Ltd and Dicker Data Financial Services NZ Ltd both provided 
finance to David Dicker at arm’s length commercial rates during the financial year. For Dicker Data 
Financial Services Pty Ltd, the amount payable as at 1 January 2024 was $45,559 which was fully 
repaid on the 24th of January 2024. The principal amount financed was $524,969, with interest 
income recognised during this period of $338. For Dicker Data Financial Services NZ Ltd, the amount 
payable as at 31 December 2024 was $104,030 which was fully repaid on the 14th of February 2025. 
The principal amount financed was $611,594, with interest income recognised during this period of 
$30,199.
During the year David Dicker and Rodin Ventures Ltd, an entity owned by David Dicker partially sold 
down their shareholdings in Dicker Data Ltd. The proceeds from the sale of the shares - $93,494,828 
and $104,805,174 respectively - were initially banked into the company bank account and then 
68

disbursed upon instructions from David Dicker and Rodin Ventures. In addition to these transactions 
there were also payments made on behalf of shareholders David Dicker and Rodin Ventures Ltd 
throughout the year that were subsequently reimbursed, or funds were deposited in advance to 
cover these expenses. Whilst the funds were held in the company bank account interest was earned 
at an arm’s length commercial basis. Total interest paid to David Dicker and Rodin Ventures was 
$861,832.78 and $283,489.27 respectively. Total interest paid to David Dicker and Rodin Ventures is 
in line with total interest earned by the Company resulting in no net impact to shareholders. As at 31 
December 2024 there were no amounts owing to or from David Dicker or Rodin Ventures Ltd.
Share Options
There were no outstanding options at the end of this financial year. 
Indemnification And Insurance Of Directors And Officers
The company has indemnified the directors and executives of the company for costs incurred, in 
their capacity as a director or executive, for which they may be held personally liable, except where 
there is a lack of good faith.
During the financial year, the company paid a premium in respect of a contract to insure the directors 
and executives of the company against a liability to the extent permitted by the Corporations Act 
2001. The contract of insurance prohibits disclosure of the nature of liability and the amount of the 
premium.
Indemnity And Insurance Of Auditor
To the extent permitted by law, the Company has agreed to indemnify its auditors, Ernst & Young 
Australia, as part of the terms of its audit engagement agreement against claims by third parties 
arising from the audit (for an unspecified amount). 
No payment has been made to indemnify Ernst & Young Australia during or since the financial year. 
Proceedings On Behalf Of The Company
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring 
proceedings on behalf of the company, or to intervene in any proceedings to which the company 
is a party for the purpose of taking responsibility on behalf of the company for all or part of those 
proceedings.
Non-Audit Services
Details of the amounts paid or payable to the auditor for non-audit services provided during the 
financial year by the auditor are outlined in note 25 to the financial statements. For the current year 
there were no non-audit services provided by the auditor.
For the comparable year the Directors are satisfied that the provision of non-audit services during 
the financial year, by the auditor (or by another person or firm on the auditor's behalf), is compatible 
with the general standard of independence for auditors imposed by the Corporations Act 2001.
The directors are of the opinion that the services as disclosed in note 25 to the financial statements 
do not compromise the external auditor's independence requirements of the Corporations Act 2001 
for the following reasons:
	
■
all non-audit services have been reviewed and approved to ensure that they do not 
impact the integrity and objectivity of the auditor; and
	
■
none of the services undermine the general principles relating to auditor independence 
as set out in APES 110 Code of Ethics for Professional Accountants issued by the 
Accounting Professional and Ethical Standards Board, including reviewing or auditing 
the auditor's own work, acting in a management or decision-making capacity for the 
company, acting as advocate for the company or jointly sharing economic risks and 
rewards.
69

Officers Of The Company Who Are Former Audit Partners 
Of Ernst & Young 
There are no officers of the company who are former audit partners of Ernst & Young.
Rounding Of Amounts
The company is of a kind referred to in ASIC Corporations (Rounding in Financial / Directors’ Report) 
Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to 
'rounding-off'. Amounts in this report have been rounded off in accordance with that Class Order to 
the nearest thousand dollars, or in certain cases, the nearest dollar.
Auditor’s Independence Declaration
A copy of the auditor's independence declaration as required under section 307C of the 
Corporations Act 2001 is set out on page 119.
Auditor
Accounting firm Ernst & Young were appointed auditors for the FY24 year in accordance with section 
327 of the Corporations Act 2001.
This report is made in accordance with a resolution of directors, pursuant to section 298(2)(a) of the 
Corporations Act 2001.
On behalf of the directors
David Dicker
CEO and Chairman
Sydney, 27 February 2025
70

Statement of Profit or Loss and  
Other Comprehensive Income
For the year ended 31 December 2024
Consolidated
Note
31-Dec-24
$’000
31-Dec-23
$’000
Revenue
 
 
 
Sales revenue
 
2,272,777
2,259,384
Other revenue:
 
 
Interest received
 
1,531
995
Recoveries
 
833
257
Other revenue
 
7,881
7,075
 
4
2,283,022
2,267,711
Expenses
 
 
 
Cost of goods sold
(1,948,606)
(1,943,845)
Employee benefits expense
 
(146,983)
(141,892)
Depreciation and amortisation
5
(14,142)
(13,974)
Finance costs
5
(24,629)
(20,427)
Other expenses
 
(35,468)
(31,161)
 
 
(2,169,828)
(2,151,299)
Profit before income tax expense
 
113,194
116,412
Income tax expense
6
(34,500)
(34,267)
Profit after income tax expense for the year
 
78,694
82,145
Profit attributable to members of the Company
 
78,694
82,145
Other comprehensive income, net of tax
 
 
 
Items that may be reclassified subsequently to profit or loss
 
 
Foreign currency translation
 
(374)
(222)
Total comprehensive income for the year
 
78,320
81,923
Total comprehensive income attributable to members of the Company
78,320
81,923
 
 
 
 
Weighted Earnings per share
 
Cents
Cents
Basic earnings per share 
32
43.62
45.59
Diluted earnings per share 
32
43.62
45.59
The statement of profit or loss and other comprehensive income is to be read in conjunction with the 
attached notes. 
71

Statement of Financial Position
As at 31 December 2024
Consolidated
Note
31-Dec-24
$’000
31-Dec-23
$’000
Assets
 
 
Current Assets
 
 
Cash and cash equivalents
10
45,813
11,607
Trade and other receivables
11
519,467
485,670
Inventories
12
286,724
218,885
Current tax assets
7
4,740
-
Total Current Assets
856,744
716,162
Non-Current Assets
 
 
Right of use asset
15
16,517
17,974
Property, plant and equipment
13
94,807
96,693
Intangible assets
14
90,334
94,458
Deferred tax assets
8
2,164
1,746
Finance lease receivables
11
1,333
-
Total non-current assets
205,155
210,871
TOTAL ASSETS
1,061,899
927,033
LIABILITIES  
Current Liabilities
 
 
Trade and other payables
16
408,787
320,049
Lease liabilities
15
4,366
2,826
Borrowings
17
106,566
300,863
Current tax liabilities
7
-
1,765
Short-term provisions
18
26,214
22,042
Total Current Liabilities
545,933
647,545
Non-Current Liabilities
 
 
Borrowings
17
245,000
-
Lease liabilities
15
13,213
15,462
Deferred tax liabilities
9
3,986
4,521
Long-term provisions
18
4,050
4,169
Total Non-Current Liabilities
266,249
24,152
TOTAL LIABILITIES
812,182
671,697
NET ASSETS
249,717
255,336
Equity 
 
Equity attributable to Equity Holders
 
 
Issued capital
19
217,205
214,563
Reserves
20
(367)
7
Retained profits
32,879
40,766
TOTAL EQUITY
249,717
255,336
72

Statement of Changes in Equity
For the year ended 31 December 2024
Note
Issued 
Capital
$’000
Retained 
Profits
$’000
Reserves
$’000
Total
Equity
$’000
Balance at 1 January 2023
212,742
17,174
229
230,145
Profit after income tax for the year
-
82,145
-
82,145
Other comprehensive income for the year net of tax
-
-
(222)
(222)
Total comprehensive income for the year
-
82,145
(222)
81,923
Transactions with the owners in their capacity as owners:
Share issue (DRP)
19
1,821
-
-
1,821
Dividends paid
21
-
(58,553)
-
(58,553)
Balance at 31 December 2023
 
214,563
40,766
7 255,336
Note
Issued 
Capital
$’000
Retained 
Profits
$’000
Reserves
$’000
Total
Equity
$’000
Balance at 1 January 2024
214,563
40,766
7 255,336
Profit after income tax for the year
-
78,694
- 
78,694
Other comprehensive income for the year net of tax
-
- 
(374)
(374)
Total comprehensive income for the year
-
78,694
(374)
78,320
Share issue (DRP)
19
2,642
- 
- 
2,642
Dividends paid
21
- 
(86,581)
- 
(86,581)
Balance at 31 December 2024
217,205
32,879
(367)
249,717
The statement of changes to equity is to be read in conjunction with the attached notes
73

Statement of Cash Flows
For the year ended 31 December 2024
Note
31-Dec-24
$’000
31-Dec-23
$’000
Cash flows from operating activities
 
 
Receipts from customers and agency partners (includes GST) 
3,659,780
3,643,979
Payments to suppliers, agency vendors and employees (includes GST)
(3,519,985)
(3,517,858)
Interest received
4
1,531
995
Interest and other finance costs paid
 
(23,430)
(19,338)
Income tax paid
 
(41,956)
(37,657)
Net cash from operating activities
30
75,940
70,121
Cash flows from investing activities
 
 
Payments for property, plant and equipment
(3,976)
(14,155)
Proceeds from sale of property plant and equipment
120
123
Payment for purchase of business, net of cash acquired
-
(4,777)
Net cash used in investing activities
(3,856)
(18,809)
Cash flows from financing activities
 
 
Drawdown of borrowings
50,703
9,182
Principal paid on lease liabilities 
(3,444)
(3,329)
Interest paid on lease liabilities
(1,198)
(1,089)
Loan from related parties
33
221,609
-
Repayment of loan from related parties
33
(221,609)
-
Payment of dividends
(83,939)
(56,732)
Net cash from financing activities
(37,878)
(51,968)
Net cash flows
34,206 
(656)
Cash and cash equivalents at the beginning of the period
11,607
12,263
Cash and cash equivalents at the end of period
10
45,813
11,607
The statement of cash flows is to be read in conjunction with the attached notes.
74

Notes To The Financial Statements
For the year ended 31 December 2024
1. Material accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set 
out below and in the following notes. These policies have been consistently applied to all the years 
presented, unless otherwise stated. 
New, revised or amending Accounting Standards and Interpretations adopted
The consolidated entity has adopted all of the new, revised or amending Accounting Standards and 
Interpretations issued by the Australian Accounting Standards Board ('AASB') that are mandatory for 
the current reporting period. 
Any other new, revised or amending Accounting Standards or Interpretations that are not yet 
mandatory have not been early adopted. 
New Accounting Standards and Interpretations not yet mandatory or early 
adopted
Australian Accounting Standards and Interpretations that have recently been issued or amended but 
are not yet mandatory, summarised below, have not been early adopted by the consolidated entity 
for the annual reporting period ended 31 December 2024, unless otherwise stated. The consolidated 
entity has not yet performed an assessment of the impact of these new or amended Accounting 
Standards and Interpretations. 
Standards in issue but not yet effective - New or revised
When effective
AASB 18 Presentation and Disclosure in Financial Statements
Effective for annual reporting 
periods beginning on or after 
1 January 2027
IFRS 18 Presentation and Disclosure In Financial Statements 
In April 2024, the IASB issued IFRS 18, which replaces IAS 1 Presentation of Financial Statements. 
IFRS 18 introduces new requirements for presentation within the statement of profit or loss, including 
specified totals and subtotals. Furthermore, entities are required to classify all income and expenses 
within the statement of profit or loss into one of five categories: operating, investing, financing, 
income taxes and discontinued operations, whereof the first three are new. 
It also requires disclosure of newly defined management-defined performance measures, subtotals 
of income and expenses, and includes new requirements for aggregation and disaggregation of 
financial information based on the identified ‘roles’ of the primary financial statements (PFS) and the 
notes. 
In addition, narrow-scope amendments have been made to IAS 7 Statement of Cash Flows, which 
include changing the starting point for determining cash flows from operations under the indirect 
method, from ‘profit or loss’ to ‘operating profit or loss’ and removing the optionality around 
classification of cash flows from dividends and interest. In addition, there are consequential 
amendments to several other standards. 
IFRS 18, and the amendments to the other standards, is effective for reporting periods beginning on 
or after 1 January 2027, but earlier application is permitted and must be disclosed. IFRS 18 will apply 
retrospectively. 
The Group is currently working to identify all impacts the amendments will have on the primary 
financial statements and notes to the financial statements.
75

Basis of preparation
These general-purpose financial statements have been prepared in accordance with Australian 
Accounting Standards and Interpretations issued by the Australian Accounting Standards Board 
('AASB') and the Corporations Act 2001, as appropriate for for-profit oriented entities. These 
financial statements also comply with International Financial Reporting Standards as issued by the 
International Accounting Standards Board ('IASB').
Historical cost convention
The financial statements have been prepared under the historical cost convention, except for, where 
applicable, the revaluation of available-for-sale financial assets, financial assets and liabilities at fair 
value through profit or loss, certain classes of property, plant and equipment and derivative financial 
instruments. 
Critical accounting estimates
The preparation of the financial statements requires the use of certain critical accounting estimates. 
It also requires management to exercise its judgement in the process of applying the consolidated 
entity's accounting policies. The areas involving a higher degree of judgement or complexity, or 
areas where assumptions and estimates are significant to the financial statements, are disclosed in 
the notes.
Parent entity information
In accordance with the Corporations Act 2001, these financial statements present the results of the 
consolidated entity only. Supplementary information about the parent entity is disclosed in note 27.
Principles of consolidation
The consolidated financial statements incorporate the assets and liabilities of all subsidiaries of 
Dicker Data Limited ('company' or 'parent entity') as at 31 December 2024 and the results of all 
subsidiaries for the year then ended. Dicker Data Limited and its subsidiaries together are referred to 
in these financial statements as the 'consolidated entity'.
Subsidiaries are all those entities over which the consolidated entity has control. The consolidated 
entity controls an entity when the consolidated entity is exposed to, or has rights to, variable returns 
from its involvement with the entity and has the ability to affect those returns through its power to 
direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is 
transferred to the consolidated entity. They are de-consolidated from the date that control ceases. 
Intercompany transactions, balances and unrealised gains on transactions between entities in the 
consolidated entity are eliminated. Unrealised losses are also eliminated unless the transaction 
provides evidence of the impairment of the asset transferred. Accounting policies of subsidiaries 
have been changed where necessary to ensure consistency with the policies adopted by the 
consolidated entity.
The acquisition of subsidiaries is accounted for using the acquisition method of accounting. A 
change in ownership interest, without the loss of control, is accounted for as an equity transaction, 
where the difference between the consideration transferred and the book value of the share of the 
non-controlling interest acquired is recognised directly in equity attributable to the parent.
Where the consolidated entity loses control over a subsidiary, it derecognises the assets including 
goodwill, liabilities and non-controlling interest in the subsidiary together with any cumulative 
translation differences recognised in equity. The consolidated entity recognises the fair value of the 
consideration received and the fair value of any investment retained together with any gain or loss in 
profit or loss.
76

Foreign currency translation
The financial statements are presented in Australian dollars, which is Dicker Data Limited's functional 
and presentation currency.
Foreign currency transactions
Foreign currency transactions are translated into Australian dollars using the exchange rates 
prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the 
settlement of such transactions and from the translation at financial year-end exchange rates of 
monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
Foreign operations
The assets and liabilities of foreign operations are translated into Australian dollars using the 
exchange rates at the reporting date. The revenues and expenses of foreign operations are 
translated into Australian dollars using the average exchange rates, which approximate the rate at 
the date of the transaction, for the period. All resulting foreign exchange differences are recognised 
in other comprehensive income through the foreign currency reserve in equity.
The foreign currency reserve is recognised in profit or loss when the foreign operation or net 
investment is disposed of.
Current and non-current classification
Assets and liabilities are presented in the statement of financial position based on current and non-
current classification.
An asset is current when: it is expected to be realised or intended to be sold or consumed in normal 
operating cycle; it is held primarily for the purpose of trading; it is expected to be realised within 
twelve months after the reporting period; or the asset is cash or cash equivalent unless restricted 
from being exchanged or used to settle a liability for at least twelve months after the reporting 
period. All other assets are classified as non-current.
The amendments to AASB 101 Presentation of Financial Statements specify the requirements for  
classifying liabilities as current or non-current. The amendments clarify:  
	
■
What is meant by a right to defer settlement
	
■
That a right to defer must exist at the end of the reporting period 
	
■
That classification is unaffected by the likelihood that an entity will exercise its deferral 
right 
	
■
That only if an embedded derivative in a convertible liability is itself an equity instrument 
would the terms of a liability not impact its classification
In addition, an entity is required to disclose when a liability arising from a loan agreement is 
classified as non-current and the entity’s right to defer settlement is contingent on compliance with 
future covenants within twelve months. 
The amendments have resulted in additional disclosures in Note 17.
Deferred tax assets and liabilities are always classified as non-current.
Goods and services tax ('GST') and other similar taxes
Revenues, expenses and assets are recognised net of the amount of associated GST, unless the GST 
incurred is not recoverable from, or payable to, the tax authority. In this case it is recognised as part 
of the cost of the acquisition of the asset or as part of the expense.
Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net 
amount of GST recoverable from, or payable to, the tax authority is included in other receivables or 
other payables in the statement of financial position.
Cash flows are presented on a gross basis. The GST components of cash flows arising from investing 
77

or financing activities which are recoverable from, or payable to the tax authority, are presented as 
operating cash flows.
Commitments and contingencies are disclosed net of the amount of GST recoverable from, or 
payable to, the tax authority.
Business combinations
The acquisition method of accounting is used to account for business combinations regardless of 
whether equity instruments or other assets are acquired.
The consideration transferred is the sum of the acquisition-date fair values of the assets transferred, 
equity instruments issued or liabilities incurred by the acquirer to former owners of the acquiree and 
the amount of any non-controlling interest in the acquiree. For each business combination, the non-
controlling interest in the acquiree is measured at either fair value or at the proportionate share of 
the acquiree's identifiable net assets. All acquisition costs are expensed as incurred to profit or loss.
On the acquisition of a business, the consolidated entity assesses the financial assets acquired and 
liabilities assumed for appropriate classification and designation in accordance with the contractual 
terms, economic conditions, the consolidated entity's operating or accounting policies and other 
pertinent conditions in existence at the acquisition-date.
Where the business combination is achieved in stages, the consolidated entity remeasures its 
previously held equity interest in the acquiree at the acquisition-date fair value and the difference 
between the fair value and the previous carrying amount is recognised in profit or loss.
Contingent consideration to be transferred by the acquirer is recognised at the acquisition-date 
fair value. Subsequent changes in the fair value of contingent consideration classified as an asset 
or liability is recognised in profit or loss. Contingent consideration classified as equity is not 
remeasured and its subsequent settlement is accounted for within equity.
The difference between the acquisition-date fair value of assets acquired, liabilities assumed and 
any non-controlling interest in the acquiree and the fair value of the consideration transferred 
and the fair value of any pre-existing investment in the acquiree is recognised as goodwill. If the 
consideration transferred and the pre-existing fair value is less than the fair value of the identifiable 
net assets acquired, being a bargain purchase to the acquirer, the difference is recognised as a gain 
directly in profit or loss by the acquirer on the acquisition-date, but only after a reassessment of 
the identification and measurement of the net assets acquired, the non-controlling interest in the 
acquiree, if any, the consideration transferred and the acquirer's previously held equity interest in 
the acquirer.
Business combinations are initially accounted for on a provisional basis. The acquirer retrospectively 
adjusts the provisional amounts recognised and also recognises additional assets or liabilities during 
the measurement period, based on new information obtained about the facts and circumstances that 
existed at the acquisition-date. The measurement period ends on either the earlier of (i) 12 months 
from the date of the acquisition or (ii) when the acquirer receives all the information possible to 
determine fair value.
Rounding of amounts
The company is of a kind referred to in ASIC Corporations (Rounding in Financial / Directors’ Reports) 
Instrument 2016/191, issued by the Australian Securities and Investments Commission, relating to 
'rounding-off'. Amounts in this report have been rounded off in accordance with that Class Order to 
the nearest thousand dollars, or in certain cases, the nearest dollar.
2. Critical accounting judgements, estimates and 
assumptions
The preparation of the financial statements requires management to make judgements, estimates 
and assumptions that affect the reported amounts in the financial statements. Management 
continually evaluates its judgements and estimates in relation to assets, liabilities, contingent 
78

liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions 
on historical experience and on other various factors, including expectations of future events, 
management believes to be reasonable under the circumstances. The resulting accounting 
judgements and estimates will seldom equal the related actual results. The judgements, estimates 
and assumptions that have a significant risk of causing a material adjustment to the carrying 
amounts of assets and liabilities (refer to the respective notes) within the next financial year are 
discussed below:
Revenue
A degree of judgement and estimation is required in disaggregating the revenue and in particular 
the assessment for contracts with customers for which the entity is acting as agent. Management 
exercises judgement in determining the categorisation of revenues as the principal versus agent 
assessments depend on the specific facts and circumstances in the agreements with suppliers and 
customers and can be complex requiring a high degree of judgement. 
Income tax
The consolidated entity is subject to income taxes in the jurisdictions in which it operates. Significant 
judgement is required in determining the provision for income tax. There are many transactions 
and calculations undertaken during the ordinary course of business for which the ultimate tax 
determination is uncertain. The consolidated entity recognises liabilities for anticipated tax audit 
issues based on the consolidated entity's current understanding of the tax law. Where the final tax 
outcome of these matters is different from the carrying amounts, such differences will impact the 
current and deferred tax provisions in the period in which such determination is made.
Recovery of deferred tax assets
Deferred tax assets are recognised for tax deductible differences only if the consolidated entity 
considers it probable that future taxable amounts will be available to utilise those temporary 
differences and losses. Refer Note 8 for further information.
Impairment of receivables
A degree of estimation and judgement is required to provide for the impairment of receivables. The 
expected loss rates are based on the Group’s movement of balances from one ageing category to 
the next to indicate increase in collection time which is an indicator of the probability of default. The 
value of debtors insurance is then applied to these balances to indicate the exposure at default. 
These loss rates are then applied to the individual ageing categories to calculate an expected 
credit loss. The entity has used their ability to apply the effects of debtor’s insurance as a suitable 
collateral to reduce the exposure of default. 
Impairment of inventory
The provision for impairment of inventories assessment requires a degree of estimation and 
judgement. The level of the provision is assessed by taking into account the recent sales experience, 
the ageing of inventories and other factors that affect inventory obsolescence. 
Estimation of useful life of assets
The consolidated entity determines the estimated useful lives and related depreciation and 
amortisation charges for its property, plant and equipment and finite life intangible assets. The 
useful lives could change significantly as a result of technical innovations or some other event. The 
depreciation and amortisation charge will increase where the useful lives are less than previously 
estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold 
will be written off or written down. 
79

Goodwill and other intangibles
Goodwill and other intangible assets that have an indefinite useful life are not subject to amortisation 
and are tested annually for impairment, or more frequently if events or changes in circumstances 
indicate that they might be impaired. An impairment loss is recognised for the amount by which the 
asset's carrying amount exceeds its recoverable amount.
 
Right of use assets
When the group revises its estimate of the term of any lease (because, for example, it re-assesses 
the probability of a lessee extension or termination option being exercised), it adjusts the carrying 
amount of the lease liability to reflect the payments to make over the revised term, which are 
discounted using a revised discount rate which require a degree of judgement.
3. Operating segments
Operating segments are presented using the 'management approach', where the information 
presented is on the same basis as the internal reports provided to the Chief Operating Decision 
Makers ('CODM'). The CODM is responsible for the allocation of resources to operating segments 
and assessing their performance.
Identification of reportable operating segments
The consolidated entity is organised into three operating segments: Australia, New Zealand and 
Singapore operations. These operating segments are based on the internal reports that are reviewed 
and used by the Board of Directors (who are identified as the Chief Operating Decision Makers 
('CODM')) in assessing performance and in determining the allocation of resources. Operating 
segments have been aggregated where they are below the quantitative thresholds and where the 
aggregation criteria has been met per AASB8 Operating Segments.
The CODM reviews EBITDA (earnings before interest, tax, depreciation and amortisation). Reportable 
revenue is for only the one product range being sale of IT goods and services, and agency 
commissions earned. The accounting policies adopted for internal reporting to the CODM are 
consistent with those adopted in the financial statements. The information reported to the CODM is 
on at least a monthly basis.
During the year the Company has incorporated new entities in both Singapore and Philippines with 
view to expanding its operations in Asia in the future. These entities did not trade during however 
a new segment has been created to include Singapore, of which the Philippines entity is a wholly 
owned subsidiary of.
Operating segments that do not meet any of the quantitative thresholds may be considered 
reportable, and separately disclosed, if management believes that information about the segment 
would be useful to users of the financial statements.
 
Intersegment transactions
During the year there was no dividend paid from Dicker Data NZ Ltd to Express Data Holdings Pty 
Ltd (2023: $Nil). There were some immaterial inventory purchasing transactions during the period. All 
intersegment transactions are at market rates and have been eliminated on consolidation.
 
Intersegment receivables, payables and loans
Intersegment loans are initially recognised at the consideration received. Intersegment loans 
receivable and loans payable that earn or incur non-market interest are not adjusted to fair value 
based on market interest rates. Intersegment loans are eliminated on consolidation. 
80

Operating segment for December 2024
Australia New Zealand
Singapore
TOTAL
Consolidated - December 2024
$’000
$’000
$’000
$’000
Revenue*
Sale of goods
1,882,319
390,458
-
2,272,777
Other revenue:
 
Interest received
912
619
-
1,531
Recoveries
833
-
-
833
Other revenue
6,929
952
-
7,881
Total Revenue
1,890,993
392,029
-
2,283,022
Expenses
Cost of goods sold
(1,605,726)
(342,880)
-
(1,948,606)
Employee benefits expense
(124,559)
(22,424)
-
(146,983)
EBITDA
133,973
16,461
-
150,434
Depreciation & amortisation
(9,484)
(4,658)
-
(14,142)
Interest received
912
619
-
1,531
Finance costs
(20,005)
(4,624)
-
(24,629)
Profit before income tax
105,396
7,798
-
113,194
Income tax expense
(31,688)
(2,812)
-
(34,500)
Profit after income tax expense
73,708
4,986
-
78,694
Segment current assets
703,952
152,777
15
856,744
Segment non current assets
141,699
63,456
-
205,155
Segment Assets
845,651
216,233
15
1,061,899
Segment current liabilities
418,148
127,785
-
545,933
Segment non current liabilities
248,127
18,122
-
266,249
Segment Liabilities
666,275
 145,907
-
812,182
81

Operating segment for December 2023
Australia New Zealand
Singapore
TOTAL
Consolidated - December 2023
$’000
$’000
$’000
$’000
Revenue*
Sale of goods
1,867,404
391,980
-
2,259,384
Other revenue:
 
Interest received
594
401
-
995
Recoveries
257
-
-
257
Other revenue
5,576
1,499
-
7,075
Total Revenue
1,873,831
393,880
-
2,267,711
Expenses
Cost of goods sold
(1,593,778)
(350,067)
-
(1,943,845)
Employee benefits expense
(120,532)
(21,360)
-
(141,892)
EBITDA
135,229
14,589
-
149,818
Depreciation & amortisation
(9,063)
(4,911)
-
(13,974)
Interest received
594
401
-
995
Finance costs
(15,829)
(4,598)
-
(20,427)
Profit before income tax
110,931
5,481
-
116,412
Income tax expense
(32,632)
(1,635)
-
(34,267)
Profit after income tax expense
78,299
3,846
-
82,145
Segment current assets
596,995
119,167
-
716,162
Segment non current assets
144,487
66,384
-
210,871
Segment Assets
741,482
185,551
-
927,033
Segment current liabilities
546,960
100,585
-
647,545
Segment non current liabilities
4,953
19,199
-
24,152
Segment Liabilities
551,913
119,784
-
671,697
*Revenue by product type and geographic location is disclosed at Note 4
82

4. Revenue 
Sales from contracts with customers
The Company sells hardware (including access control and surveillance), software (including 
software licensing), warranties, logistics and configuration services. Revenue is recognised at an 
amount that reflects the consideration to which the Company is expected to be entitled in exchange 
for transferring goods or services to a customer. For contracts with customers the Company 
identifies the contract with the customer, the performance obligation in the contract and recognises 
revenue when or as each performance obligation is satisfied when there is a transfer to the customer 
of the goods or services promised. Payment terms with customers are generally 30 days from end of 
month. The types of revenue the Company earns is detailed as follows:
Hardware sales: The Company procures and supplies IT hardware and related products. Revenue is 
recognised at a point in time on delivery of the goods. The company bears the inventory and credit 
risk and has pricing control for the products and services supplied. Amounts disclosed as revenue 
are net of sales returns and any customer rebates. There is no constraint on the amount of revenue 
recognised.
Virtual services: Virtual services refers to warranty and maintenance contracts that are sold on 
behalf of our suppliers. The Company’s performance obligation is to arrange for the provision of 
the specified service by the manufacturer and then in turn it is the manufacturer who performs the 
warranty and maintenance services. Once the sale has been made the Company has no further 
obligation to the customer in terms of the service or maintenance and revenue is recognised on a net 
basis as it is considered the Company is acting as agent.
Software sales: The Company sells software licences and our performance obligation is to arrange 
for the licences to be provided by the software supplier. The software supplier is our customer rather 
than the software reseller partner.  We recognise revenue for these sales on an agent basis at the 
time the order is fulfilled whereby the revenue is equal to the amount of the consideration receivable 
from the reseller partner less the cost of the sale due to the supplier. Incentives from vendors 
previously recognised as a reduction in cost of sales will be recognised as revenue being an agency 
fee which is made up of standard commission and other incentives driven by volume and other 
metrics.
Services: The Company provides third party logistics and configuration services as value added 
services to our customers. The revenue earned for these services is based on fixed fee income or 
time and materials basis. Revenue is recognised at a point in time when the service is complete. 
Partner services: The Company acts as an agent and earns commission in respect of 
telecommunications complex data sales and as such the revenue is recognised on a net basis.
Disaggregation of revenue
The group has disaggregated the revenue from customer contracts into various categories in the 
following table which is intended to:
	
■
depict how the nature, amount, timing and uncertainty of revenue and cash flows are 
affected by economic data; and
	
■
enable users to understand the relationship with revenue segment information provided 
in Note 3.
83

Year Ended 31 December 2024
Product Type
Description
Revenue 
recognition 
(PIT/OT)
Agent/ 
Principal
 AU 
 NZ 
Consolidated
Infrastructure
Hardware products
Point in time
Principal
1,790,800
373,604
2,164,404
Virtual Services
Sales of 3rd party 
warranties and services Point in time
Agent
17,146
1,405
18,551
Software
Software Licensing
Point in time
Agent
63,064
15,229
78,293
Dicker Data 
Services
3rd party logistics and 
configuration services 
Point in time
Principal
5,839
220
6,059
Partner Services
Agent commission
Point in time
Agent
5,470
-
5,470
1,882,319
390,458
2,272,777
Year Ended 31 December 2023
Product Type
Description
Revenue 
recognition 
(PIT/OT)
Agent/ 
Principal
 AU 
 NZ 
Consolidated
Infrastructure
Hardware products
Point in time
Principal
1,778,875
371,771
2,150,646
Virtual Services
Sales of 3rd party 
warranties and services Point in time
Agent
17,483
1,507
18,990
Software
Software Licensing
Point in time
Agent
58,838
18,601
77,439
Dicker Data 
Services
3rd party logistics and 
configuration services 
Point in time
Principal
5,886
101
5,987
Partner Services
Agent commission
Point in time
Agent
6,322
-
6,322
1,867,404
391,980
2,259,384
Other revenue
Interest
Interest revenue is recognised as interest accrues using the effective interest method. This is a 
method of calculating the amortised cost of a financial asset and allocating the interest income 
over the relevant period using the effective interest rate, which is the rate that exactly discounts 
estimated future cash receipts through the expected life of the financial asset to the net carrying 
amount of the financial asset.
Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established.
84

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Sales from contracts with customers:
 
 
Sale of goods and services
2,272,777
2,259,384
Other revenue:
Interest 
1,531
995
Recoveries
833
257
Other revenue
7,881
7,075
Total Revenue
2,283,022
2,267,711
5. Expenses
Cost of sales 
Cost of goods sold are represented net of supplier rebates and settlement discounts. Supplier 
rebates can be paid monthly, quarterly or half yearly. At the end of the financial year an estimate of 
rebates due, relating to the financial year is accounted for based on best available information at the 
time of the rebate being paid. Estimate of rebates is based on information provided by our suppliers 
on our tracking to targets and on management’s judgement based on historical achievements.
Depreciation and amortisation
Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, 
plant and equipment (excluding land) or over their expected useful lives. Amortisation of intangibles 
is calculated on a straight-line basis over their expected useful lives, as either determined by 
management or by an independent valuation.
Finance costs
Finance costs attributable to qualifying assets are capitalised as part of the asset. All other finance 
costs are expensed in the period in which they are incurred, including:
	
■
interest on any bank overdraft
	
■
interest on short-term and long-term borrowings
	
■
interest on finance leases
	
■
interest on ROUA
Defined contribution superannuation expense
Contributions to defined contribution superannuation plans are expensed in the period in which they 
are incurred.
Lease related expenses
Amortisation of right-of-use assets is in line with AASB 16 and represents unwinding of the liability in 
principal on straight-line basis and interest component is expensed.
Leases have been capitalised with recognition of a right-of-use asset and liability for all leases 
(excluding short-term leases with less than 12 months of tenure and leases relating to low-value 
assets).
85

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Depreciation
 
 
Building
2,925
2,476
Plant and equipment
2,795
2,549
Total depreciation
5,720
5,025
Amortisation
Right of use asset
4,098
4,196
Customer contracts, brands, non-compete
4,324
4,472
Software
-
281
Total amortisation
8,422
8,949
Total deprecation and amortisation
14,142
13,974
Finance costs 
Interest and finance charges paid / payable
24,629
20,427
Superannuation expense
Defined contribution superannuation expense
11,212
10,705
6. Income tax
The income tax expense or benefit for the period is the tax payable on that period’s taxable income 
based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax 
assets and liabilities attributable to temporary differences, unused tax losses and the adjustment 
recognised for prior periods, where applicable. The Company has been approved for a substituted 
accounting period for the lodgement of its tax returns based on the calendar year January to 
December in both Australia and New Zealand.
Deferred tax assets and liabilities are recognised for temporary differences at the tax rates expected 
to apply when the assets are recovered, or liabilities are settled, based on those tax rates that are 
enacted or substantively enacted, except for:
	
■
When the deferred income tax asset or liability arises from the initial recognition of 
goodwill or an asset or liability in a transaction that is not a business combination and 
that, at the time of the transaction, affects neither the accounting nor taxable profits; or
	
■
When the taxable temporary difference is associated with interests in subsidiaries, 
associates or joint ventures, and the timing of the reversal can be controlled and it is 
probable that the temporary difference will not reverse in the foreseeable future.
Deferred tax assets are recognised for deductible temporary differences and unused tax losses only 
if it is probable that future taxable amounts will be available to utilise those temporary differences 
and losses.
The carrying amount of recognised and unrecognised deferred tax assets are reviewed each 
reporting date. Deferred tax assets recognised are reduced to the extent that it is no longer probable 
that future taxable profits will be available for the carrying amount to be recovered. Previously 
unrecognised deferred tax assets are recognised to the extent that it is probable that there are 
future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only 
where there is a legally enforceable right to offset current tax assets against current tax liabilities 
and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority 
on either the same taxable entity or different taxable entity’s which intend to settle simultaneously.
86

Dicker Data Limited (the ‘head entity’) and its wholly owned Australian subsidiaries have formed 
an income tax consolidated group from 01 April 2014, under the tax consolidation regime. Dicker 
Data NZ Limited also formed a tax consolidated group in New Zealand effective from the FY22 
year, incorporating New Zealand wholly owned subsidiaries post the acquisition of Exeed Ltd and 
incorporation of Dicker Data NZ Financial Services Ltd. The head entity and each subsidiary in the 
tax consolidated group continue to account for their own current and deferred tax amounts. The tax 
consolidated group has applied the ‘separate taxpayer within group’ approach in determining the 
appropriate amount of taxes to allocate to members of the tax consolidated group. In addition to 
its own current and deferred tax amounts, the head entity also recognises the current tax liabilities 
(or assets) and the deferred tax assets arising from unused tax losses and unused tax credits 
assumed from each subsidiary in the tax consolidated group. Assets or liabilities arising under tax 
funding agreements with the tax consolidated entities are recognised as amounts receivable from 
or payable to other entities in the tax consolidated group. The tax funding arrangement ensures that 
the intercompany charge equals the current tax liability or benefit of each tax consolidated group 
member, resulting in neither a contribution by the head entity to the subsidiaries nor a distribution by 
the subsidiaries to the head entity.
Tax risk management
Dicker Data considers that tax risk management is a fundamental part of its corporate tax 
governance in order to maintain its efficient and effective operations and to ensure that Dicker Data 
complies with all relevant tax obligations and pays the correct amount of tax.
Specifically, Dicker Data: 
	
■
Seeks to maintain the highest reputation and, therefore, obtain the highest level of trust 
with tax and revenue authorities, regulators, customers, suppliers, shareholders and 
employees. 
	
■
Is committed to complying with all tax laws, rules and regulations and maintaining strong 
compliance procedures so as to ensure that all tax returns are made accurately and that 
all payments are made in a timely manner. 
	
■
Will endeavour to ensure that the tax laws, rules and regulations are applied 
appropriately and  ensure that all transactions have a commercial rationale in line with 
Dicker Data’s overall business strategy. 
	
■
Will not enter into artificial arrangements to evade or avoid tax or any transaction which 
is likely to fall foul of the general and specific anti-avoidance rules.
	
■
Will not engage in aggressive tax planning. 
	
■
Will take a principled and responsible approach to managing its tax affairs in line with its 
business and commercial objectives. 
	
■
Will ensure that the law and administrative practice is applied correctly and consistently 
and that all of its positions are, at least, reasonably arguable and more likely than not to 
be settled in Dicker Data’s favour and to thereby prevent unnecessary disputes with tax 
authorities. 
	
■
Will deal with all tax and revenue authorities on a transparent and proactive basis, with a 
view to maintaining constructive, collaborative and professional relationships.
In order to ensure that the above intentions manifest in practice, Dicker Data:
	
■
Has a documented Tax Governance Framework which is designed to comply with 
Australian Tax Office requirements. 
	
■
Allocates tax risk management roles and responsibilities to the board, each relevant 
employee (and employee groups) and service providers, the method for identifying and 
managing tax risk and the escalation process. 
	
■
Defines authority levels which are required to be adhered to by Dicker Data based on the 
amount of tax at risk.
87

	
■
Employs diligent professional care and judgement in assessing tax risk, and takes advice 
from its external tax specialists where appropriate. 
	
■
Escalates tax risks to the appropriate members of senior management and/or the board 
of directors for consideration, review and management.
International Tax Reform - Pillar Two Model Rules
The Group has applied the mandatory exception in AASB 112 Income Taxes to recognising and 
disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes. 
Pillar Two income taxes legislation was substantively enacted in Australia on 26 November 2024 and 
became effective for the Group from 1 January 2024. The Group has satisfied the de minimis test 
or its effective tax rate exceeded 15 per cent in the jurisdictions in which it operates and therefore, 
the application of the rules does not have any current tax impact on the Group for the year ended 31 
December 2024.
The Group continues to monitor the developments around the implementation and enactment of 
Pillar Two income taxes and the detailed impact assessment of Pillar Two income taxes is ongoing
Income tax critical judgements
The consolidated entity is subject to income taxes in the jurisdictions in which it operates. Significant 
judgement is required in determining the provision for income tax. There are many transactions 
and calculations undertaken during the ordinary course of business for which the ultimate tax 
determination is uncertain. The consolidated entity recognises liabilities for anticipated tax audit 
issues based on the consolidated entity’s current understanding of the tax law. Where the final tax 
outcome of these matters is different from the carrying amounts, such differences will impact the 
current and deferred tax provisions in the period in which such determination is made. 
88

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
(A)
The components of tax expense comprise:
Current tax
34,969
38,860
Over/(Under) provision in respect of prior years
485
(1,289)
35,454
37,571
Deferred tax benefit
(682)
(3,671)
Over/(Under) provision in respect of prior years
(272)
367
(954)
(3,304)
34,500
34,267
Deferred tax included in income tax expense comprises:
(Increase)/Decrease in deferred tax assets
(1,665)
(2,873)
Increase/(Decrease) in deferred tax liabilities
778
(1,003)
Deferred tax included in statement of changes in equity
205
205
(682)
(3,671)
(B)
The prima facie tax payable on profit before income tax is  
reconciled to the income tax as follows: 
Prima facie tax payable on profit before income tax at 30%
34,222
34,768
Add tax effect of:
 
Under provision for income tax in prior year
213
(922)
Non-deductible expenses
267
538
34,702
34,384
Less tax effect of:
Differences in overseas tax rates
(202)
(117)
Income tax expense attributable to entity
34,500
34,267
The applicable weighted average effective tax rates are as follows:
30.5%
29.4%
7. Current tax
Current tax asset / (liability)
4,740
(1,765)
8. Deferred tax asset
Deferred tax asset comprises temporary differences attributable to:
Amounts recognised in profit or loss:
Provision for receivables impairment
836
616
Provision for employee entitlements
6,462
5,553
Accrued expenses
413
562
Inventory
1,314
1,492
Capitalised expenditure
37
67
89

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Property plant and equipment
   (1,008)
(1,835)
Capitalised right-of-use assets
                 39
(53)
Prepayments 
(43)
(30)
Accrued income
(3,279)
(1,460)
Intangible assets 
-
     (2,780)
(3,544)
Amounts recognised in equity:
Share issue costs
173
378
Deferred tax asset 
2,164
1,746
Movements in deferred tax asset
Opening Balance
1,746
-
Credited / (charged) to profit or loss
623
1,951
Credited / (charged) to equity
(205)
(205)
Closing Balance
2,164
1,746
9. Deferred tax liabilities
The balance comprises temporary differences attributable to:
Amounts recognised in profit or loss:
Intangible assets
5,279
5,797
Provision for receivables impairment
(32)
(32)
Provision for employee entitlements
(264)
(264)
Accrued expenses
(24)
(84)
Inventory
(607)
(656)
Capitalised expenditure
66
-
Property plant and equipment
(89)
-
Capitalised right-of-use assets
(343)
(240)
Deferred tax liabilities 
3,986
4,521
Movements in deferred tax liability
Opening Balance
4,521
6,074
Credited / (charged) to profit or loss
(535)
(1,553)
Credited / (charged) to equity
-
-
Closing Balance
3,986
4,521
90

10. Cash and cash equivalents
Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, 
other short-term, highly liquid investments with original maturities of three months or less that 
are readily convertible to known amounts of cash and which are subject to an insignificant risk of 
changes in value. 
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Cash at bank
45,813
11,607
11. Trade and other receivables
Trade receivables are measured at the transaction price determined under the ‘Revenue’ material 
accounting policy. Trade receivables are generally due for settlement within 30 days from end of 
month.
Other receivables are recognised at amortised cost, less any provision for impairment. Other 
receivables mainly includes vendor rebates receivable and are due to be paid within 3 months.
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Trade receivables
516,462
485,103
Less: Provision for impairment of receivables
(2,903)
(2,169)
513,559
482,934
Finance lease receivables
3,026
-
Other receivables
2,882
2,736
 
519,467
485,670
Impairment of receivables
The expected loss rates are based on the Group’s movement of balances from one ageing category 
to the next to indicate increase in collection time which is an indicator of the probability of default. 
The value of debtors insurance is then applied to these balances to indicate the exposure at default. 
These loss rates are then applied to the individual ageing categories to calculate an expected credit 
loss.
The entity has used their ability to apply the effects of debtor’s insurance as a suitable collateral to 
reduce the exposure of default. 
The consolidated entity has recognised an increase in the expense in the profit and loss of $734k to 
$2.9m (2023: $2.2m) in respect of impairment of receivables for the year ended 31 December 2024. 
The Group considers a trade receivable in default when internal and external information indicates 
that the Group is unlikely to receive the outstanding contractual amounts in full before taking into 
account any credit enhancements held by the Group. A trade receivable is written off when there is 
no reasonable expectation in recovering the contractual cash flows. Total bad debt written off during 
the year was $4.3m (2023: $0.7m).
12. Inventories
Finished goods are stated at the lower of cost or net realisable value. Costs are assigned to 
individual items of inventory on the basis of weighted average costs. Costs of purchased inventory 
are determined after deducting rebates and discounts received or receivable. 
91

Stock in transit is stated at the lower of cost and net realisable value. Cost comprises purchase and 
delivery costs, net of rebates and discounts received or receivable.
Net realisable value is the estimated selling price (plus any applicable supplier claims as per revenue 
recognition policy) in the ordinary course of business less the estimated costs of completion and the 
estimated costs necessary to make the sale.
During the year $1,948.6m (2023: $1,927.8m) was recognised as an expense for inventories carried 
at net realisable value. This is recognised in cost of sales.
Impairment of inventories
The provision for impairment of inventories assessment requires a degree of estimation and 
judgement. The level of the provision is assessed by taking into account the recent sales experience, 
the ageing of inventories and other factors that affect inventory obsolescence. 
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Finished goods
290,270
223,570
Less: Provision for impairment
(3,546)
(4,685)
286,724
218,885
13. Property, plant and equipment
Land and buildings are carried at cost less subsequent depreciation for buildings and accumulated 
impairment for land and buildings. Each class of plant and equipment and property improvements is 
carried at cost less, where applicable, any accumulated depreciation and impairment losses. 
Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, 
plant and equipment (excluding land) over their expected useful lives as follows:
Buildings 	
	
	
40 Years 
Property improvements 
 
10 - 20 Years
Leasehold improvements  
10 - 20 Years
Plant and equipment 
 
2 - 10 Years
Plant and equipment under lease  2 - 10 Years
Motor vehicles	
	
	
8 years
The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, 
at each reporting date. Leasehold improvements and plant and equipment under lease are 
depreciated over the unexpired period of the lease or the estimated useful life of the assets, 
whichever is shorter.
An item of property, plant and equipment is derecognised upon disposal or when there is no future 
economic benefit to the consolidated entity. Gains and losses between the carrying amount and the 
disposal proceeds are taken to profit or loss. Any revaluation surplus reserve relating to the item 
disposed of is transferred directly to retained profits.
92

Estimation of useful lives of assets
The consolidated entity determines the estimated useful lives and related depreciation and 
amortisation charges for its property, plant and equipment and finite life intangible assets. The 
useful lives could change significantly as a result of technical innovations or some other event. The 
depreciation and amortisation charge will increase where the useful lives are less than previously 
estimated lives, or technically obsolete or non-strategic assets that have been abandoned or sold 
will be written off or written down. 
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Freehold land 
18,435
18,435
Building - at cost
68,640
68,243
Less accumulated depreciation
(5,857)
(4,142)
 
62,783
64,101
Total land and buildings
81,218
82,536
 
Fitout & leasehold improvements - at cost
11,989
11,028
Less accumulated depreciation
(4,384)
(3,212)
 
7,605
7,816
 
Plant and equipment - at cost
16,530
14,968
Less accumulated depreciation
(10,592)
(8,696)
 
5,938
6,272
 
Motor vehicles 
333
335
Less accumulated depreciation
(287)
(266)
 
46
69
Total plant and equipment 
13,589
14,157
Total property, plant and equipment
94,807
96,693
93

Reconciliations of the written down values at the beginning and end of the current and previous 
financial year are set out below:
Freehold 
land 
$’000
Buildings
$’000
Fitout 
Costs
$’000
Plant and 
equipment 
$’000
Motor 
vehicles 
$’000
Total
$’000
Balance at 1 January 2023
18,435
56,375
7,212
5,545
56
87,623
Additions
- 
9,121
1,694
3,402
82
14,299
Depreciation expense
- 
(1,395)
(1,081)
(2,529)
(20)
(5,025)
Disposals
- 
- 
-
(104)
(49)
(153)
Effect of movements in exchange rate
- 
- 
(9)
(42)
-
(51)
Balance at 31 December 2023
18,435
64,101
7,816
6,272
69
96,693
Additions
-
397
1,031
2,548
             - 
3,976
Depreciation expense
-
(1,715)
(1,210)
(2,772)
(23)
(5,720)
Disposals
-
                -                - 
(88)
            - 
(88)
Effect of movements in exchange rate
-
                - 
(32)
(22)
             - 
(54)
Balance at 31 December 2024
18,435
62,783
7,605
5,938
46
94,807
14. Intangibles
Intangible assets acquired as part of a business combination, other than goodwill, are initially 
measured at their fair value at the date of the acquisition. Intangible assets acquired separately are 
initially recognised at cost. Indefinite life intangible assets are not amortised and are subsequently 
measured at cost less any impairment. Finite life intangible assets are measured at cost less 
amortisation and any impairment. The gains or losses recognised in profit or loss arising from the 
de-recognition of intangible assets are measured as the difference between net disposal proceeds 
and the carrying amount of the intangible asset. The method and useful lives of finite life intangible 
assets are reviewed annually. Changes in the expected pattern of consumption or useful life are 
accounted for prospectively by changing the amortisation method or period.
Goodwill
Goodwill arises on the acquisition of a business. Goodwill is not amortised. Instead, goodwill is 
tested annually for impairment, or more frequently if events or changes in circumstances indicate 
that it might be impaired and is carried at cost less accumulated impairment losses. Impairment 
losses on goodwill are taken to profit or loss and are not subsequently reversed.
 
Customer contracts
Customer contracts acquired in a business combination are amortised on a straight-line basis over 
the period of their expected benefit, being their finite life which varies between 18 months and 15 
years. 
Brand
Brands are valued using the income approach based on an independent purchase price valuation. 
Brands are amortised on a straight-line basis over the period of the expected benefit.
94

Non-compete
Non-compete agreement is valued using a comparative income differential method. The non-
compete value is amortised on a straight-line basis over the period of the restraint or non-compete 
agreement.
Software
Cost associated with software and website development are deferred and amortised on a straight-
line basis over the period of their expected benefit, being their finite life of 4 years.
 
Impairment of intangibles
Goodwill and other intangible assets that have an indefinite useful life are not subject to amortisation 
and are tested annually for impairment, or more frequently if events or changes in circumstances 
indicate that they might be impaired. An impairment loss is recognised for the amount by which the 
asset’s carrying amount exceeds its recoverable amount.
Recoverable amount is the higher of an asset’s fair value less costs of disposal and value-in-use. The 
value-in-use is the present value of the estimated future cash flows relating to the asset using a pre-
tax discount rate specific to the asset or cash-generating unit to which the asset belongs. Assets 
that do not have independent cash flows are grouped together to form a cash-generating unit.
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Goodwill
62,100
62,037
 
Customer contracts
51,256
51,256
Less: Accumulated amortisation
(24,624)
(20,819)
26,632
30,437
Brand
2,323
2,323
Less: Accumulated amortisation
(754)
(548)
1,569
1,775
Non-compete
1,006
1,006
Less: Accumulated amortisation
(973)
(797)
33
209
Software - at cost
350
350
Less: Accumulated amortisation
(350)
(350)
-
-
Total intangible assets 
90,334
94,458
95

Goodwill
$’000
Customer 
Contracts
$’000
Brands
$’000
Non 
Compete
$’000
Software
$’000
Total
$’000
Balance at 31 December 2022
58,795
34,352
2,000
536
285
95,968
Additions through business combinations
3,254
-
-
-
-
3,254
Additions
-
-
-
-
-
-
Amortisation expense
-
(3,919)
(225)
(328)
(281)
(4,753)
Disposal
-
-
-
-
-
-
Effect of movements in exchange rate
(12)
4
-
1
(4)
(11)
Balance at 31 December 2023
62,037
30,437
1,775
209
-
94,458
 
 
 
 
 
 
 
Additions through business combinations
              -                -           - 
             -               -              - 
Additions
              -                -           -               -               -              - 
Amortisation expense
              - 
(3,910)
(223)
(191)
-
(4,324)
Disposal
              -                -           -               -               -              - 
Effect of movements in exchange rate
63
105
17
15
-
200
Balance at 31 December 2024
62,100
26,632
1,569
33
-
90,334  
Goodwill and other indefinite life intangible assets estimates
The recoverable amounts of cash-generating units have been determined based on value-in-use 
calculations. These calculations require the use of assumptions, including estimated discount rates 
based on the current cost of capital and growth rates of the estimated future cash flows.
The recoverable amount of the consolidated entity’s goodwill has been determined by a value-in-
use calculation using a discounted cash flow model, based on a 1 year EBITDA projection period 
approved by management and extrapolated for a further 5 years using a steady rate, together with a 
terminal value.
Management considers the cash generating units (CGU) of the group to be Australia and New 
Zealand. Goodwill has been allocated $23.7m and $29.8m, respectively. Included in the value 
of goodwill for each of the cash generating units is the goodwill acquired in the Express Data 
acquisition from 2014, the Exeed Group acquisition in 2021, Hills Security and IT Business from 
2022 and Connect Security Products Ltd in NZ in 2023.  As a result the assumptions used in 
the discounted cash flow model for each cash generating unit have been updated based on the 
assessment of each cash generating unit in its own right.
The following key assumptions were used in the discounted cash flow model for each cash 
generating unit:
a.	
Discount Rate: 12.45% (2023: 12.03%) for Australian CGU and 11.54% (2023: 11.18%) for New 
Zealand CGU post-tax discount rate; and
b.	
Growth Rate: 4.5% (2023: 4.5%) for the Australian CGU and 23.3% (2023: 10.26%) for the New 
Zealand CGU in year 1 and 4.5% thereafter for Australian CGU and 5.0% for the New Zealand 
CGU per annum EBITDA growth rate.
The discount rate reflects management’s estimate of the time value of money and the consolidated 
entity’s weighted average cost of capital, the risk-free rate and the volatility of the share price 
relative to market movements. Management believes the projected EBITDA growth rate is reasonable 
based on forecasted organic and general market growth.
Based on the above, the recoverable amount of each cash generating unit exceeded the carrying 
amount and therefore no impairment of goodwill.
96

Sensitivity analysis
As disclosed in note 2, the directors have made judgements and estimates in respect of impairment 
testing of goodwill. Management believes that any reasonable changes in the key assumptions on 
which the recoverable amount of division goodwill is based would not cause the cash-generating 
unit’s carrying amount to exceed its recoverable amount. The sensitivities are as follows: (a) EBITDA 
would need to decrease by more than 52.5% to trigger impairment for the Australian CGU, and 49% 
for the New Zealand CGU, with all other assumptions remaining constant; b) The discount rate would 
be required to increase to 40.3% to trigger impairment for the Australian CGU, and 34.2% for the 
New Zealand CGU, with all other assumptions remaining constant.
15. Leases
All leases are accounted for by recognising a right-of-use asset and a lease liability except for:
	
■
Leases of low value assets; and
	
■
Leases with a duration of 12 months or less
Lease Liabilities are measured at the present value of the contractual payments due to the lessor 
over the lease term, with the discount rate determined by reference to the rate inherent in the lease 
unless (as is typically the case) this is not readily determinable, in which case the group’s incremental 
borrowing rate on commencement of the lease is used. Key judgements used in the calculation of 
the lease liability include interest rate estimate 2.9%. Variable lease payments are only included in 
the measurement of the lease liability if they depend on an index or rate. In such cases the initial 
measurement of the lease liability assumes the variable element will remain unchanged throughout 
the lease term. Other variable lease payments are expensed in the period to which they relate.
On initial recognition the carrying value of the lease liability includes:
	
■
amounts expected to be payable under any residual value guarantee;
	
■
the exercise price of any purchase option granted in favour of the group if it is 
reasonably certain to assess that option; and
	
■
any penalties payable for terminating the lease, if the term of the lease has been 
estimated on the basis of the termination option being exercised.
Right of use assets are initially measured at the amount of the lease liability, reduced for any lease 
incentives received, and increased for:
	
■
lease payments made at or before the commencement of the lease;
	
■
initial direct costs incurred; and
	
■
the amount of any provision recognised where the group is contractually required to 
dismantle, remove or restore leased assets.
Subsequent to initial measurement lease liabilities increase as a result of interest charged at a 
constant rate on the balance outstanding and are reduced for lease payments made. Right-of-
use assets are amortised on a straight-line basis over the remaining term of the lease or over the 
remaining economic life of the asset if, rarely, this is judged to be shorter than the lease term.
When the group revises its estimate of the term of any lease (because, for example, it re-assesses 
the probability of a lessee extension or termination option being exercised), it adjusts the carrying 
amount of the lease liability to reflect the payments to make over the revised term, which are 
discounted using a revised discount rate. The carrying value of the lease liabilities is similarly 
revised when the variable element of future lease payments dependent on a rate or index is revised, 
except the discount rate remains unchanged. In both cases an equivalent adjustment is made to the 
carrying value of the right-of-use asset, with the revised carrying amount being amortised over the 
remaining revised lease term. If the carrying amount of the right-of-use asset is adjusted to zero, any 
further reduction is recognised in profit and loss.
97

Nature of leasing activities
The Company leases 18 properties in Australia and New Zealand for which the lease contracts 
provide for payments to increase each year by inflation or to be reset periodically to market rental 
rates. 
Lease commitments
The determination of whether an arrangement is or contains a lease is based on the substance of the 
arrangement and requires an assessment of whether the fulfilment of the arrangement is dependent 
on the use of a specific asset or assets and the arrangement conveys a right to use the asset. A 
distinction is made between finance leases, which effectively transfer from the lessor to the lessee 
substantially all the risks and benefits incidental to ownership of leased assets, and operating leases, 
under which the lessor effectively retains substantially all such risks and benefits. Operating lease 
payments, net of any incentives received from the lessor, are charged to profit or loss on a straight-
line basis over the term of the lease.
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Right-of-Use Asset
Opening Balance
17,974
19,748
Additions through business combinations
-
701
Additions
3,135
1,816
Amortisation
(4,098)
(4,195)
Disposal
(131)
(12)
Effect of movements in exchange rate
(363)
(84)
16,517 
17,974
Lease Liabilities
Opening Balance
18,288
19,195
Additions through business combinations
-
701
Additions
3,127
1,802
Interest expense
1,198
1,090
Lease payments
(4,642)
(4,419)
Foreign exchange movements
(392)
(81)
 
17,579
18,288
Maturity Analysis
 
Less than 1 year
4,366
2,826
Between 1 to 5 Years
13,213
15,462
17,579
18,288
16. Trade and other payables
These amounts represent liabilities for goods and services provided to the consolidated entity 
prior to the end of the financial year and which are unpaid. Due to their short-term nature they are 
measured at amortised cost and are not discounted. The amounts are unsecured and are usually 
paid within 30 - 60 days of recognition.
98

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Trade payables
373,050
270,040
Other payables
35,737
50,009
408,787
320,049
17. Borrowings
Loans and borrowings are initially recognised at the fair value of the consideration received, net of 
transaction costs. They are subsequently measured at amortised cost using the effective interest 
method.
Where there is an unconditional right to defer settlement of the liability for at least 12 months after 
the reporting date, the loans or borrowings are classified as non-current.  
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Current
Westpac Receivables Facility
-
197,000
Westpac Cash Advance Facility
         45,000 
50,000
BNZ Facility
         61,566 
53,863
Total current borrowings
       106,566 
300,863
Non-Current
 
Westpac Receivables Facility
245,000 
-
Total borrowings
351,566
300,863
The receivables facility is secured by a fixed charge over all of the Australian trade receivables and cash 
advance facility is secured by a General Security Agreement over the assets of the Company.
Facility Limits
Westpac Receivables Facility 
320,000
270,000
Westpac Cash Advance Facility
45,000
50,000
BNZ Cash Advance Facility
61,566
53,863
Total facility limits
426,566
373,863
Westpac Receivables Facility
In April 2024 the limit on the Westpac Receivables Facility was increased from $270m to $320m and 
the facility was renewed for a period of 3 years maturing May 2027. The increase in the limit will help 
support the ongoing growth and working capital requirements of the business. The interest rate for 
drawings under this facility is the applicable bank bill rate plus a credit margin.
99

This facility is secured by a General Security Deed over the assets of the Group and charge over the 
receivables of the Australian entity and is subject to the following covenants:
	
■
Interest cover ratio
	
■
Gearing ratio
	
■
Minimum shareholder funds
Westpac Cash Advance Facility
The Westpac Cash Advance Facility was renewed in August 2024 for a period of 12 months. This 
facility was initially $70m and used to finance the Exeed acquisition and the remaining $45m was 
converted to a general purpose corporate facility. The interest rate for the drawings under this 
facility is the applicable bank bill rate plus a credit margin.
This facility is secured by a General Security Deed over the assets of the Group and is subject to the 
following covenants:
	
■
Interest cover ratio
	
■
Leverage ratio
	
■
Minimum shareholder funds
Bank of New Zealand Facility
The Bank of New Zealand facility was renewed in February 2024, increasing the facility limit to 
$80.5m (NZD $88.9m). This comprised of a cash advance facility for $61.6m (NZD $68.0m), up from 
$53.9m (NZD $58.0m). previously approved, with the balance being available for stand by letter of 
credit facility to support supplier trade credit arrangements. The extension of the facility is to May 
2025. The interest rate for drawings under this facility is the applicable bank bill rate plus a credit 
margin. The SBLC limit is currently utilised with a $13.6m for trade supplier arrangements and $1.6m 
for property rental bonds.
This facility is secured by a General Security Deed over the assets of the New Zealand up to $113.2m 
(NZD $125.0m) as agreed in an Intercreditor Deed with Westpac. This facility is subject to the 
following covenants:
	
■
Interest cover ratio
	
■
Leverage ratio
All covenants are tested half yearly at 30 June and 31 December. The Group has no indication that it 
will have difficulty complying with these covenants.
Refinance risk
Dicker Data currently has in place a working capital facility with the Westpac Banking Corporation in 
Australia and Bank of New Zealand (BNZ) in New Zealand. The BNZ facility is to be renewed in May 
2025 and the Westpac cash advance facility is to be renewed in August 2025. As at report date both 
banks have indicated intention to renew the facilities subject to standard credit approval processes.
18. Provisions
Provisions are recognised when the consolidated entity has a present (legal or constructive) 
obligation as a result of a past event, it is probable the consolidated entity will be required to settle 
the obligation, and a reliable estimate can be made of the amount of the obligation. The amount 
recognised as a provision is the best estimate of the consideration required to settle the present 
obligation at the reporting date, taking into account the risks and uncertainties surrounding the 
obligation. If the time value of money is material, provisions are discounted using a current pre-tax 
rate specific to the liability. 
100

Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Current
Employee benefits
26,214
22,042
26,214
22,042
 
 
Non Current
 
 
Employee benefits
2,928
2,957
Lease make-good provision
1,122
1,212
4,050
4,169
Movement in Provisions
 
 
 
 
Current - Employee Benefits
 
 
Movements in the provision for employee benefits
 
 
Opening Balance
22,042
21,849
Charges for the year
4,172
193
26,214 
22,042
Non-Current - Employee Benefits
 
Movements in the provision for employee benefits
 
Opening Balance
2,957
2,650
Charges for the year
(29)
307
2,928
2,957
Non-Current - Lease Makegood
 
Movements in the provision for makegood
 
Opening Balance
1,212
1,254
Charges for the year
(90)
(42)
1,122
1,212
Employee benefits
Short-term employee benefits
Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service 
leave expected to be settled within 12 months of the reporting date are recognised in current 
liabilities in respect of employees’ services up to the reporting date and are measured at the 
amounts expected to be paid when the liabilities are settled.
Other long-term employee benefits
The liability for annual leave and long service leave not expected to be settled within 12 months 
of the reporting date are recognised in non-current liabilities, provided there is an unconditional 
right to defer settlement of the liability. The liability is measured as the present value of expected 
future payments to be made in respect of services provided by employees up to the reporting date 
using the projected unit credit method. Consideration is given to expected future wage and salary 
levels, experience of employee departures and periods of service. Expected future payments are 
discounted using market yields at the reporting date on national government bonds with terms to 
maturity and currency that match, as closely as possible, the estimated future cash outflows.
101

Amounts not expected to be settled within the next 12 months
The current provision for employee benefits includes all unconditional entitlements where employees 
have completed the required period of service and also those where employees are entitled to 
pro-rata payments in certain circumstances. The entire amount is presented as current, since the 
consolidated entity does not have an unconditional right to defer settlement. However, based on 
past experience, the consolidated entity does not expect all employees to take the full amount of 
accrued leave or require payment within the next 12 months.
The following amounts reflect leave that is not expected to be taken within the next 12 months:
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Employee benefits obligation expected to be settled after 12 months
11,463
9,178
Lease make good provision
A provision has been made for the present value of anticipated costs for future restoration of leased 
premises. The provision includes future cost estimates associated with closure of the premises. 
The calculation of this provision requires assumptions such as application of closure dates and cost 
estimates. The provision recognised for each site is periodically reviewed and updated based on the 
facts and circumstances available at the time. Changes to the estimated future costs for sites are 
recognised in the statement of financial position by adjusting the asset and the provision. Reductions 
in the provision that exceed the carrying amount of the asset will be recognised in profit or loss.
19. Issued capital
Ordinary shares are classified as equity.
Incremental costs directly attributable to the issue of new shares or options are shown in equity as a 
deduction, net of tax, from the proceeds. 
102

31-Dec-24
Shares
31-Dec-24
$’000
31-Dec-23
Shares
31-Dec-23
$’000
Ordinary shares - fully paid
180,550,666
217,205
180,289,482
214,563
Movements in ordinary share capital
Details
Date
Issue Price
No. of 
Shares
$'000
Opening Balance
1-Jan-23
180,091,527 
212,742
Issue of shares DRP
1-Mar-23
 $9.757 
         12,876 
126
Issue of shares DRP
1-Jun-23
$8.624 
           59,796 
515
Issue of shares DRP
1-Sep-23
$8.300               79,134 
657
Issue of shares DRP
1-Dec-23
$11.237 
           46,149 
523
Balance
31-Dec-23
180,289,482 
214,563
Issue of shares DRP
01-Mar-24
 $11.392 
        67,640 
771
Issue of shares DRP
03-Jun-24
$10.410 
  55,720 
579
Issue of shares DRP
02-Sep-24
 $9.910 
     69,872 
692
Issue of shares DRP
02-Dec-24
$8.844 
      67,952 
600
Balance
31-Dec-24
180,550,666 
217,205
Ordinary shares
Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up 
of the company in proportion to the number of and amounts paid on the shares held. The fully paid 
ordinary shares have no par value and the company does not have a limited amount of authorised 
capital. On a show of hands every member present at a meeting in person or by proxy shall have one 
vote and upon a poll each share shall have one vote.
Share buy-back
There is no current on-market share buy-back.
Capital risk management
For the purpose of the Group’s capital management, capital includes issued capital and all other 
equity reserves attributable to the equity holders. The consolidated entity’s primary objective 
when managing capital is to safeguard its ability to continue as a going concern whilst enhancing 
long-term shareholder value through funding its business at an optimised weighted average cost 
of capital. In seeking to optimise its weighted average cost of capital, the consolidated entity may 
adjust its capital structure from time to time, including varying the amount of dividends paid to 
shareholders, by returning capital to shareholders, by issuing new shares or taking on or reducing 
debt. The consolidated entity is subject to certain financing arrangements and covenants and 
meeting these is given priority in all capital risk management decisions. There have been no events 
of default on the financing arrangements during the financial year.
103

20. Reserves 
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Capital Profits Reserve (Pre-CGT)
369
369
Foreign currency reserve
(736)
(362)
(367)
7
Capital profits reserve (pre-CGT)
The capital profits reserve records non-taxable profits on sale of investments.
Foreign currency reserve
The reserve is used to recognise exchange differences arising from translation of the financial 
statements of foreign operations to Australian dollars. It is also used to recognise gains and losses 
on hedges of the net investments in foreign operations.
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Movements in reserves
Opening Balance
7
229
Foreign currency translation
(374)
(222)
Closing Balance
(367)
7
21. Dividends
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Dividends declared or paid during the financial year
86,581
58,553
104

Type
FY
Payment 
Date
Dividend 
per share 
(in cents)
Amount
(in 000’s)
FY
Payment 
Date
Dividend 
per share 
(in cents)
Amount
(in 000’s)
Final 
2023
01-Mar-24
15.00
27,043
2022
01-Mar-23
2.50
4,502
Interim
2024
03-Jun-24
11.00
19,839
2023
01-Jun-23
10.00
18,010
Interim
2024
02-Sep-24
11.00
19,845
2023
01-Sep-23
10.00
18,017
Interim
2024
02-Dec-24
11.00
19,854
2023
01-Dec-23
10.00
18,024
 
 
48.00
86,581
 
 
32.50
58,553
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
The tax rate that dividends have been franked is 30% (2023: 30%)
Franking credit balance:
Franking credits available for subsequent financial years  
based on a tax rate of 30% (2023: 30%)
21,483
17,636
The above amounts represent the balance of the franking account as at the end of the financial year 
adjusted for franking credits arising from:
	
■
franking credits from dividends recognised as receivables at year end
	
■
franking credits that will arise from payment of the current tax liability
	
■
franking debits arising from payment of proposed dividends recognised as a liability 
22. Fair value disclosures
When an asset or liability, financial or non-financial, is measured at fair value for recognition or 
disclosure purposes, the fair value is based on the price that would be received to sell an asset or 
paid to transfer a liability in an orderly transaction between market participants at the measurement 
date; and assumes that the transaction will take place either: in the principal market; or in the 
absence of a principal market, in the most advantageous market.
Fair value is measured using the assumptions that market participants would use when pricing the 
asset or liability, assuming they act in their economic best interest. For non-financial assets, the fair 
value measurement is based on its highest and best use. Valuation techniques that are appropriate 
in the circumstances and for which sufficient data are available to measure fair value, are used, 
maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
Assets and liabilities measured at fair value are classified, into three levels, using a fair value 
hierarchy that reflects the significance of the inputs used in making the measurements. 
Classifications are reviewed each reporting date and transfers between levels are determined based 
on a reassessment of the lowest level input that is significant to the fair value measurement.
For recurring and non-recurring fair value measurements, external valuers may be used when 
internal expertise is either not available or when the valuation is deemed to be significant. External 
valuers are selected based on market knowledge and reputation. Where there is a significant change 
in fair value of an asset or liability from one period to another, an analysis is undertaken, which 
includes a verification of the major inputs applied in the latest valuation and a comparison, where 
applicable, with external sources of data.
105

Fair value measurement hierarchy
The consolidated entity is required to classify all assets and liabilities, measured at fair value, using 
a three level hierarchy, based on the lowest level of input that is significant to the entire fair value 
measurement, being:
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity 
can access at the measurement date; 
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or 
liability, either directly or indirectly; and
Level 3: Unobservable inputs for the asset or liability. Considerable judgement is required to 
determine what is significant to fair value and therefore which category the asset or liability is placed 
in can be subjective.
 
The fair value of assets and liabilities classified as level 3 is determined by the use of valuation 
models. These include discounted cash flow analysis or the use of observable inputs that require 
significant adjustments based on unobservable inputs.
The company has a number of financial instruments which are not measured at fair value in the 
statement of financial position, including cash, receivables, payables and borrowings. The fair value 
of these financial assets and financial liabilities approximates their carrying amount.
The fair value of Borrowings in Note 18, is estimated by discounting the future contractual cash flows 
at the current market interest rates for loans with similar risk profiles and has been measured under 
Level 2 of the hierarchy.
The carrying value of borrowings classified as financial liabilities measured at amortised cost 
approximates fair value. 
23. Financial instruments
Derivative financial instruments
Derivatives are initially recognised at fair value on the date a derivative contract is entered into 
and are subsequently remeasured to their fair value at each reporting date. The accounting for 
subsequent changes in fair value depends on whether the derivative is designated as a hedging 
instrument, and if so, the nature of the item being hedged. Derivatives are classified as current or 
non-current depending on the expected period of realisation.
Investments and other financial assets
Investments and other financial assets are initially measured at fair value. Transaction costs are 
included as part of the initial measurement, except for financial assets at fair value through profit 
or loss. They are subsequently measured at either amortised cost or fair value depending on their 
classification. Classification is determined based on the purpose of the acquisition and subsequent 
reclassification to other categories is restricted.
Financial assets are derecognised when the rights to receive cash flows from the financial assets 
have expired or have been transferred and the consolidated entity has transferred substantially all 
the risks and rewards of ownership.
Impairment of financial assets
The consolidated entity assesses at the end of each reporting period whether there is any objective 
evidence that a financial asset or group of financial assets is impaired. Objective evidence includes 
significant financial difficulty of the issuer or obligor; a breach of contract such as default or 
delinquency in payments; the lender granting to a borrower concessions due to economic or legal 
reasons that the lender would not otherwise do; it becomes probable that the borrower will enter 
bankruptcy or other financial reorganisation; the disappearance of an active market for the financial 
106

asset; or observable data indicating that there is a measurable decrease in estimated future cash 
flows. 
The amount of the impairment allowance for financial assets carried at cost is the difference 
between the asset’s carrying amount and the present value of estimated future cash flows, 
discounted at the current market rate of return for similar financial assets.
Consolidated
Financial Assets and Liabilities
31-Dec-24
$’000
31-Dec-23
$’000
Financial Assets
Cash and cash equivalents
45,813
11,607
Loans and receivables
519,467
485,670
Total Financial Assets
565,280
497,277
 
Financial Liabilities
 
Trade and other payables
408,787
320,049
Borrowings
351,566
300,863
Lease liabilities
17,579
18,288
Total Financial Liabilities
777,932
639,200
Financial risk management policies
The directors’ overall risk management strategy seeks to assist the company in meeting its financial 
targets, whilst minimising potential adverse effects on financial performance. The Company has a 
comprehensive Risk Management Framework that provides for the key management personnel to 
manage the different types of risks to which the company is exposed to. This is further enhanced 
with the implementation of an Internal Risk Committee that regularly considers the risks of the 
business. Financial risk management includes but is not limited to monitoring levels of exposure 
to interest rate and credit risk and by being aware of market forecasts for interest rates. Ageing 
analyses and monitoring of specific credit allowances are undertaken to manage credit risk. Liquidity 
risk is managed through general business budgets and forecasts. The main purpose of non-
derivative financial instruments is to manage foreign currency risk. The company had open forward 
contracts as at the end of the financial year to mitigate this risk. The directors and key management 
personnel meet on a regular basis to analyse financial risk exposure and to evaluate treasury 
management strategies in the context of the most recent economic conditions and forecasts.
Specific financial risk exposures and management
The main risks the company is exposed to through its financial instruments are:
	
■
credit risk
	
■
liquidity risk 
	
■
interest rate risk
	
■
foreign exchange risk
Credit risk
Exposure to credit risk relating to financial assets arises from the potential non-performance by 
counterparties of contract obligations that could lead to a financial loss to the company. Credit risk 
107

is reviewed regularly by the directors and key management personnel. It predominantly arises from 
exposures to customers. 
The Company’s exposure to credit risk is limited due to debtor insurance which is held over its trade 
receivables. The insurance policy limits the exposure of the company to 10% of individual customer’s 
balance plus the excess as specified in the policy after an aggregate first loss of $200,000. 
Receivables balances are monitored on an ongoing basis and as a result the Company’s exposure to 
bad debts has not been significant.
It is the Company’s policy that all customers who wish to trade on credit terms are subject to credit 
verification procedures including an assessment of their credit rating, financial position, past 
experience and industry reputation. Credit limits are set for each individual customer in accordance 
with parameters set by the directors. These credit limits are regularly monitored. Customers that 
do not meet the company’s strict credit policies and criteria may only purchase in cash or using 
recognised credit cards.
The company has no significant concentration of credit risk with any single counterparty or group 
of counterparties. The profile of all counterparties is largely the same being reseller partners and 
have been grouped together in assessing expected credit loss. Trade and other receivables that are 
neither past due or impaired are considered to be of high credit quality.
Credit Risk Exposures - The maximum exposure to credit risk by class of recognised financial assets 
at reporting date, excluding the value of any collateral or other security held, is equivalent to the 
carrying value and classification of those financial assets (net of any provisions) as presented in the 
statement of financial position.
Liquidity risk
Liquidity risk arises from the possibility that the company might encounter difficulty in settling its 
debts or otherwise meeting its obligations related to financial liabilities. The company manages this 
risk through the following mechanisms:
	
■
preparing forward-looking cash flow analyses in relation to its operational, investing and 
financing activities;
	
■
monitoring undrawn credit facilities;
	
■
obtaining funding from a variety of sources;
	
■
maintaining a reputable credit profile; and
	
■
managing credit risk related to financial assets.
The tables below reflect an undiscounted contractual maturity analysis for financial liabilities. 
Financial guarantee liabilities are treated as payable on demand since the company has no control 
over the timing of any potential settlement of the liability.
Cash flows realised from financial instruments reflect management’s expectation as to the timing of 
realisation.
Actual timing may therefore differ from that disclosed. The timing of cash flows presented in the 
table to settle financial liabilities reflect the earliest contractual settlement dates and do not reflect 
management’s expectations that banking facilities will roll forward.
108

Consolidated
Financial liability maturity analysis
31-Dec-24
$’000
31-Dec-23
$’000
Financial liabilities due for payment
Trade and other payables
Within 6 months
408,787
320,049
6 months - 1 Year
-
-
1 - 2 Years
-
-
2 - 5 Years
-
-
 Total trade and other payables
408,787
320,049
Borrowings
 
Within 6 Months
106,566
250,863
6 Months - 1 Year
-
50,000
1 - 2 Years
-
-
2 - 5 Years
245,000
-
 Total contractual outflows
351,566
300,863
Financial assets pledged as collateral:
Certain financial assets have been pledged as security for the debt and their realisation into cash 
may be restricted subject to terms and conditions attached to the relevant debt contracts. Refer to 
Note 18. 
Interest rate risk
The company’s main interest rate risk arises from borrowings. All borrowings are at variable interest 
rates and expose the company to interest rate risk which will impact future cash flows and interest 
charges and is indicated by the following floating interest rate financial liabilities. 
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Interest Rate Risk
Floating rate instruments
  Westpac Receivable Finance Facility
245,000
197,000
  Westpac Cash Advance Facility
45,000
50,000
  BNZ Working Capital Facility
61,566
53,863
351,566
300,863
Due to the current interest rate environment the Company has not entered into any interest rate 
swap at any other time during the year. Management will continue to monitor the interest rate 
environment to determine whether entering into a new swap agreement will be prudent to do so in 
the future. 
109

Sensitivity analysis
The company has performed a sensitivity analysis relating to its exposure to interest rate risk at 
reporting date. If interest rates changed by -/+ 1% from the year end rates with all other variables 
held constant, post-tax profit would have been $2.5m lower/higher (2023: $2.1m lower/higher) as a 
result of higher/lower interest payments. The company constantly analyses its interest rate exposure. 
Within this analysis consideration is given to alternative financing and the mix of fixed and variable 
interest rates. 
Foreign exchange risk
The consolidated entity undertakes certain transactions denominated in foreign currency and is 
exposed to foreign currency risk through foreign exchange rate fluctuations. Foreign exchange risk 
arises from future commercial transactions and recognised financial assets and financial liabilities 
denominated in a currency that is not the entity’s functional currency. The risk is measured using 
sensitivity analysis and cash flow forecasting. Hedge accounting is not applied.
In order to protect against exchange rate movements, the consolidated entity has entered into 
forward foreign exchange contracts. These contracts are hedging highly probable forecasted cash 
flows for the ensuing financial year. Management has a risk management policy to hedge between 
30% and 80% of anticipated foreign currency transactions for the subsequent 4 months, with 
occasionally requiring a hedge for up to 12 months on specific transactions.
The maturity, settlement amounts and the average contractual exchange rates of the consolidated 
entity’s outstanding forward foreign exchange contracts at the reporting date was as follows:
Sell 
Australian dollars
Average 
exchange rates
Sell 
New Zealand dollars
Average 
exchange rates
	
31-Dec-24
$’000
31-Dec-23
$’000
31-Dec-24
$’000
31-Dec-23
$’000
31-Dec-24
$’000
31-Dec-23
$’000
31-Dec-24
$’000
31-Dec-23
$’000
Buy US dollars
Maturity:
 
 
 
 
0 - 3 months
     56,439 
       50,818        0.6432 
       0.7424 
12,479
3,233
       0.5760 
       0.6196 
3 - 6 months
1,189
                - 
0.6278
                - 
                - 
                - 
                - 
                - 
6 - 9 months
                - 
            400 
                - 
  0.6739 
  -
   -
                - 
                - 
9 - 12 months
                - 
         1,000 
                - 
      0.6544 
                - 
                - 
                - 
                - 
Buy AU dollars
 
 
 
 
Maturity:
 
 
 
 
0 - 3 months
                - 
                - 
                - 
                - 
         2,600 
         3,357        0.9022 
0.9255
3 - 6 months
                - 
                - 
                - 
                - 
                - 
                - 
                - 
                - 
The carrying amount of the consolidated entity’s foreign currency denominated financial assets and 
financial liabilities at the reporting date was as follows:
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Cash at bank
            1,859 
         36,169 
Trade receivables
         22,221          63,278 
Trade payables
       (57,108)
       (58,207)
Net statement of financial position exposure
      (33,028)
         41,240
110

Based on the financial instruments held at 31 December 2024, a strengthening/weakening of AU$ 
against US$ and NZ$ would have resulted in the following changes to the Groups reported profit and 
loss and/or equity.
Sensitivity Analysis
Equity
Profit or Loss
(Effects in Thousands)
Strengthening 
Weakening
Strengthening 
Weakening
US$ (5% movement)
-
-
1,651
(1,651)
NZ$ (5% movement)
(3,516)
3,516
(2,062)
2,062
24. Key management personnel compensation
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Short-term benefits
10,064,384
9,514,849
Long-term benefits
16,385
18,334
Post employment benefits
957,560
904,224
Total Compensation
11,038,329
10,437,407
25. Remuneration of auditors
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Fees to Ernst & Young (Australia)
Fees for the audit and review of the financial reports of the Group and any 
controlled entities 
551,000
525,000
Fees for out-of-scope audit work
-
40,560
Total Fees to Ernst & Young
551,000
565,560
111

26. Contingent liabilities
The directors are not aware of any contingent liabilities related to the Consolidated entity as at the 
report date.
Capital commitments
Capital expenditure commitments contracted for at reporting date but not recognised as liabilities:  
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Property, plant and equipment
-
450
27. Parent entity information
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Statement of profit or loss and other comprehensive income
Profit after income tax
75,684
77,036
Total comprehensive income
75,684
77,036
 
Statement of financial position
 
Total current assets
730,765
614,390
Total assets
888,606
774,731
Total current liabilities
420,206
544,603
Total liabilities
673,879
551,749
 
Equity
 
Issued capital
217,205
214,563
Reserves
369
369
Retained profits
(2,847)
8,049
Total Equity
214,727 
222,981
Guarantees entered into by the parent entity in relation to the debts of its 
subsidiaries
The parent entity and some of its subsidiaries are party to a deed of cross guarantee under which 
each company guarantees the debts of the others. The parent entity has also provided a parent 
guarantee in respect of obligations of Exeed Ltd and Exeed Australia Limited Partnership in favour of 
Bank of New Zealand. No deficiencies of assets exist in any of these subsidiaries.
Capital commitments – property, plant and equipment
The parent entity had the capital commitments for property, plant and equipment as detailed in Note 
27.
112

Material accounting policies
The accounting policies of the parent entity are consistent with those of the consolidated entity, as 
disclosed in Note 1 and throughout the notes.
28. Business combinations
CSP Acquisition
On 28 February 2023 the Company announce the completion of the acquisition in New Zealand 
of Connect Security Products Ltd (CSP). The valuation of the fair value of the acquired assets and 
liabilities at acquisition date was finalised and completed at 30 June 2023. There has been no 
change to the provisional amounts presented in the 2023 annual report.
29. Interests in subsidiaries
The consolidated financial statements incorporate the assets, liabilities and results of the following 
wholly owned subsidiaries in accordance with the accounting policy described in note 1:
Principal 
place of business 
/ country of 
incorporation
Ownership
 Interest
Ownership
 Interest
	
2024
%
2023
%
Express Data Holdings Pty Ltd
Australia
100%
100%
Dicker Data Financial Services Pty Ltd
Australia
100%
100%
Dicker Data GP Pty Ltd
Australia
100%
100%
Dicker Data New Zealand Ltd
New Zealand
100%
100%
Exeed Ltd
New Zealand
100%
100%
Dicker Data Financial Services NZ Ltd
New Zealand
100%
100%
Dicker Data SGE Pte Ltd
Singapore
100%
-
Dicker Data PH Inc
Philippines
100%
-
113

30. Reconciliation of profit after income tax to net cash
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Profit after income tax
78,694
82,145
Adjustments for:
 
Depreciation
5,720
5,025
Amortisation on intangibles
4,324
4,753
Amortisation on leased assets
4,138
4,195
(Profit) / Loss on the Disposals of PPE
(32)
30
 
Changes in Assets & Liabilities:
 
Decrease (increase) in current inventories
(67,839)
44,258
Decrease (increase) in current receivables
(35,865)
38,421
Decrease (increase) in deferred tax assets
(417)
(1,746)
(Decrease) increase in deferred tax liabilities
             (534)
(1,541)
(Decrease) increase in payables & other 
89,844
(106,988)
(Decrease) increase in provisions
4,412
1,672
(Decrease) increase in current tax liabilities
(6,505)
(103)
Net cash from operating activities
75,940
70,121
114

31. Non-cash investing and financing activities
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Shares issued under dividend reinvestments plan (DRP)
2,642
1,821
32. Earnings per share
Consolidated
31-Dec-24
$’000
31-Dec-23
$’000
Profit after income tax
78,694
82,145
Profit after income tax attributable to the owners of Dicker Data Limited
78,694 
82,145
 
 
Weighted average number of shares used as denominator
Number
Number
Weighted average number of ordinary shares used as the denominator in 
calculating basic earnings per share
180,406,264
180,175,670
 
 
Weighted average number of ordinary shares and options granted are 
used as the denominator in calculating diluted  
earnings per share
180,406,264
180,175,670
 Cents 
 Cents 
Basic earnings per share (cents)
43.62
45.59
Diluted earnings per share (cents)
43.62
45.59
33. Related party transactions 
Parent entity:	
Dicker Data Limited is the parent entity.
Subsidiaries:	
Interests in subsidiaries are set out in note 29.
Key management personnel:
Disclosures relating to key management personnel are set out in note 24 and the remuneration 
report in the directors’ report.
115

Transactions with related parties
The following table provides the total amount of transactions that have been entered into with 
related parties for the financial year.
Operating Activities
Financing Activities
Asset Finance
Related Party Entity
Purchase 
of Goods/
Services
Secondment 
Fee
Other
Total
Loan From  
Related Parties
Loan Repaid to 
Related Parties
Interest Paid
Interest 
Received
Principal 
Financed
Opening 
Balance 
1-Jan-24
Interest 
Received 
FY24
Closing 
Balance  
31-Dec-24
Australis Music Group 
Pty Ltd
$68,669
$186,390
-
$255,059
-
-
-
-
-
-
-
-
Rodin Cars Ltd
$182,109
-
-
$182,109
-
-
-
-
$611,594
-
$30,199
$104,030
Rodin Aviation Ltd
-
-
$280,901
$280,901
-
-
-
-
-
-
-
-
David Dicker
-
-
-
-
$94,950,786
($94,950,786)
($861,833)
$2,442
$524,969
$45,559
$338
-
Rodin Ventures Ltd
-
-
-
-
$126,658,237
($126,658,237)
($283,489)
$26,670
-
-
-
-
$250,778
$186,390
$280,901
$718,069
$221,609,023
($221,609,023)
($1,145,322)
$29,112
-
-
$30,536
-
There were a number of related party transactions during the year with Australis Music Group Pty 
Ltd an entity owned by Fiona Brown. The transactions included sale of goods and services which are 
billed to Australis Music Group Pty Ltd at an arm’s length commercial basis. The total amount billed 
to Australis Music Group Pty Ltd during the reporting period was $255,059.
There were a number of related party transactions during the year with the entity Rodin Cars Ltd, 
a New Zealand based entity owned by David Dicker. The transactions included sales of goods and 
services which are billed to Rodin Cars Ltd both in Australia and New Zealand at an arm’s length 
commercial basis. Total amount billed to Rodin Cars Ltd during the reporting period was $182,109. 
There were also related party transactions with Rodin Aviation Ltd, a New Zealand based entity 
owned by David Dicker. The transaction included services provided by Rodin Aviation to Dicker Data 
Ltd and the amount paid for services during the reporting period was $280,901.
Dicker Data Financial Services Pty Ltd and Dicker Data Financial Services NZ Ltd both provided 
finance to David Dicker at arm’s length commercial rates during the financial year. For Dicker Data 
Financial Services Pty Ltd, the amount payable as at 1 January 2024 was $45,559 which was fully 
repaid on the 24th of January 2024. The principal amount financed was $524,969, with interest 
income recognised during this period of $338. For Dicker Data Financial Services NZ Ltd, the amount 
payable as at 31 December 2024 was $104,030 which was fully repaid on the 14th of February 2025. 
The principal amount financed was $611,594, with interest income recognised during this period of 
$30,199.
During the year David Dicker and Rodin Ventures Ltd, an entity owned by David Dicker partially sold 
down their shareholdings in Dicker Data Ltd. The proceeds from the sale of the shares - $93,494,828 
and $104,805,174 respectively - were initially banked into the company bank account and then 
disbursed upon instructions from David Dicker and Rodin Ventures. In addition to these transactions 
there were also payments made on behalf of shareholders David Dicker and Rodin Ventures Ltd 
throughout the year that were subsequently reimbursed, or funds were deposited in advance to 
cover these expenses. Whilst the funds were held in the company bank account interest was earned 
at an arm’s length commercial basis. Total interest paid to David Dicker and Rodin Ventures was 
$861,832.78 and $283,489.27 respectively. Total interest paid to David Dicker and Rodin Ventures is 
in line with total interest earned by the Company resulting in no net impact to shareholders. As at 31 
December 2024 there were no amounts owing to or from David Dicker or Rodin Ventures Ltd.
34. Subsequent events
There have been no significant or material subsequent events occur to reporting date.
116

Consolidated Entity Disclosure Statement
Set out below is a list of entities that are consolidated into Dicker Data consolidated financial 
statements as at 31 December 2024
Name
Entity type
Body 
corporate 
country of 
incorporation
Body 
corporate 
% of share 
capital held
Country 
of tax 
residence
Express Data Holdings Pty Ltd
Body corporate
Australia
100%
Australia
Dicker Data Financial Services Pty Ltd
Body corporate
Australia
100%
Australia
Dicker Data GP Pty Ltd
Body corporate
Australia
100%
Australia
Dicker Data New Zealand Ltd
Body corporate
New Zealand
100%
New Zealand
Exeed Ltd
Body corporate
New Zealand
100%
New Zealand
Dicker Data Financial Services NZ Ltd
Body corporate
New Zealand
100%
New Zealand
Dicker Data SGE Pte Ltd
Body corporate
Singapore
100%
Singapore
Dicker Data PH Inc
Body corporate
Philippines
100%
Philippines
 
117

Directors’ 
Declaration
In the opinion of the directors:
	
■
the attached financial statements and notes thereto are in accordance with the 
Corporations Act 2001, the Australian Accounting Standards, the Corporations 
Regulations 2001 and other mandatory professional reporting requirements; 
	
■
the attached financial statements and notes thereto comply with International Financial 
Reporting Standards as issued by the International Accounting Standards Board as 
described in note 1 to the financial statements;
	
■
the attached financial statements and notes thereto give a true and fair view of the 
consolidated entity’s financial position as at 31st December 2024 and of its performance 
for the financial year ended on that date;
	
■
the consolidated entity disclosure statement required by section 295(3A) of the 
Corporations Act is true and correct
	
■
there are reasonable grounds to believe that the company will be able to pay its debts as 
and when they become due and payable; and
	
■
as at the date of this declaration, there are reasonable grounds to believe that the 
Company and the subsidiaries identified in Note 29 will be able to meet any obligations 
or liabilities to which they are or may become subject to, by virtue of the Deed of Cross 
Guarantee between the Company and those subsidiaries
The directors have been given the declarations required by section 295A of the Corporations Act 
2001.
Signed in accordance with a resolution of directors made pursuant to section 295(5)(a) of the 
Corporations Act 2001.
On behalf of the directors
David Dicker
CEO AND CHAIRMAN
Sydney, 27 February 2025
118

Auditor’s Declaration of Independence
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
 
 
 
Ernst & Young 
200 George Street 
Sydney  NSW  2000 Australia 
GPO Box 2646 Sydney  NSW  2001 
 Tel: +61 2 9248 5555 
Fax: +61 2 9248 5959 
ey.com/au 
Auditor’s independence declaration to the directors of Dicker Data Limited 
 
As lead auditor for the audit of the financial report of Dicker Data Limited for the financial year ended 
31 December 2024, I declare to the best of my knowledge and belief, there have been: 
a. 
No contraventions of the auditor independence requirements of the Corporations Act 2001 in 
relation to the audit;  
b. 
No contraventions of any applicable code of professional conduct in relation to the audit; and 
c. 
No non-audit services provided that contravene any applicable code of professional conduct in 
relation to the audit. 
This declaration is in respect of Dicker Data Limited and the entities it controlled during the financial 
year. 
 
 
 
Ernst & Young 
 
 
 
 
Graham Leonard 
Partner 
27 February 2025 
 
 
 
119

Independent Auditor’s Report
 
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
Ernst & Young 
200 George Street 
Sydney  NSW  2000 Australia 
GPO Box 2646 Sydney  NSW  2001 
Tel: +61 2 9248 5555 
Fax: +61 2 9248 5959 
ey.com/au 
 
Independent auditor’s report to the members of Dicker Data Limited 
Report on the audit of the financial report 
Opinion 
We have audited the financial report of Dicker Data Limited (the Company) and its subsidiaries 
(collectively the Group), which comprises the consolidated statement of financial position as at 31 
December 2024, the consolidated statement of profit or loss and other comprehensive income, 
consolidated statement of changes in equity and consolidated statement of cash flows for the year 
then ended, notes to the financial statements, including material accounting policy information, the 
consolidated entity disclosure statement and the directors declaration. 
 
In our opinion, the accompanying financial report of the Group is in accordance with the Corporations 
Act 2001, including: 
a. 
Giving a true and fair view of the consolidated financial position of the Group as at 31 December 
2024 and of its consolidated financial performance for the year ended on that date; and 
b. 
Complying with Australian Accounting Standards and the Corporations Regulations 2001. 
Basis for opinion 
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under 
those standards are further described in the Auditor’s responsibilities for the audit of the financial 
report section of our report. We are independent of the Group in accordance with the auditor 
independence requirements of the Corporations Act 2001 and the ethical requirements of the 
Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional 
Accountants (including Independence Standards) (the Code) that are relevant to our audit of the 
financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with 
the Code.  
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis 
for our opinion. 
Key audit matters 
Key audit matters are those matters that, in our professional judgment, were of most significance in 
our audit of the financial report of the current year. These matters were addressed in the context of 
our audit of the financial report as a whole, and in forming our opinion thereon, but we do not provide 
a separate opinion on these matters. For each matter below, our description of how our audit 
addressed the matter is provided in that context. 
We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the 
financial report section of our report, including in relation to these matters. Accordingly, our audit 
included the performance of procedures designed to respond to our assessment of the risks of 
material misstatement of the financial report. The results of our audit procedures, including the 
procedures performed to address the matters below, provide the basis for our audit opinion on the 
accompanying financial report. 
120

Independent Auditor’s Report
 
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
Recognition and presentation of revenue 
Why significant 
How our audit addressed the key audit matter 
As at 31 December 2024, the Group’s 
consolidated statement of profit or loss and 
other comprehensive income includes $2.3 
billion of revenue.  
The Group enters into different types of 
contracts with customers and recognises 
revenue, which is disaggregated into five 
product types, as disclosed in Note 4 of the 
consolidated financial statements.   
AASB 15 Revenue from Contracts with 
Customers requires Management to apply 
judgement in assessing whether the Group acts 
as a principal or agent and the timing of revenue 
recognition. The assessment whether the Group 
acts as a principal or agent affects whether 
revenue is presented on a gross or net basis.  
The assessment regarding the timing of revenue 
recognition determines whether revenue is 
recognised in the appropriate period.    
 
Our audit procedures included the following: 
• Applied professional scepticism to assess 
the accounting judgments against the 
requirements of AASB 15 including an 
assessment of the presentation and timing 
of revenue recognised in the period. 
• Evaluated the Group’s processes and tested 
relevant controls relating to the recognition 
and measurement of revenue recognised 
within the consolidated statement of profit 
or loss and other comprehensive income.  
• Applied data analysis techniques to analyse 
the relationship between revenue, accounts 
receivable and cash collections.  
• Applied data analysis techniques to analyse 
the relationship between customer rebate 
accruals, revenue and settlement net of 
trade receivables. 
• Agreed a sample of cash receipts to bank 
and source documentation to confirm that 
the receipts correlating to trade receivables 
represents cash receipts used to clear trade 
receivables from third parties. 
• For a sample of revenue transactions, tested 
the existence and measurement of the 
amounts recorded in the financial report.  
• Performed sales cut off procedures by 
assessing management’s calculation of 
deliveries after year end to confirm that 
sales are properly recorded in the correct 
period.  
• Assessed the adequacy and appropriateness 
of the disclosures included in the Notes to 
the financial report. 
 
 
 
 
121

Independent Auditor’s Report
 
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
Information other than the financial report and auditor’s report thereon 
The directors are responsible for the other information. The other information comprises the 
information included in the Group’s 2024 annual report, but does not include the financial report and 
our auditor’s report thereon. 
Our opinion on the financial report does not cover the other information and accordingly we do not 
express any form of assurance conclusion thereon, with the exception of the Remuneration Report 
and our related assurance opinion. 
In connection with our audit of the financial report, our responsibility is to read the other information 
and, in doing so, consider whether the other information is materially inconsistent with the financial 
report or our knowledge obtained in the audit or otherwise appears to be materially misstated.  
If, based on the work we have performed, we conclude that there is a material misstatement of this 
other information, we are required to report that fact. We have nothing to report in this regard. 
Responsibilities of the directors for the financial report 
The directors of the Company are responsible for the preparation of: 
► 
The financial report (other than the consolidated entity disclosure statement) that gives a true 
and fair view in accordance with Australian Accounting Standards and the Corporations Act 
2001; and 
► 
The consolidated entity disclosure statement that is true and correct in accordance with the 
Corporations Act 2001; and 
for such internal control as the directors determine is necessary to enable the preparation of: 
► 
The financial report (other than the consolidated entity disclosure statement) that gives a true 
and fair view and is free from material misstatement, whether due to fraud or error; and 
► 
The consolidated entity disclosure statement that is true and correct and is free of misstatement, 
whether due to fraud or error. 
In preparing the financial report, the directors are responsible for assessing the Group’s ability to 
continue as a going concern, disclosing, as applicable, matters relating to going concern and using the 
going concern basis of accounting unless the directors either intend to liquidate the Group or to cease 
operations, or have no realistic alternative but to do so. 
Auditor’s responsibilities for the audit of the financial report 
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is 
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that 
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an 
audit conducted in accordance with the Australian Auditing Standards will always detect a material 
misstatement when it exists. Misstatements can arise from fraud or error and are considered material 
if, individually or in the aggregate, they could reasonably be expected to influence the economic 
decisions of users taken on the basis of this financial report. 
122

Independent Auditor’s Report
 
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
As part of an audit in accordance with the Australian Auditing Standards, we exercise professional 
judgment and maintain professional scepticism throughout the audit. We also: 
► 
Identify and assess the risks of material misstatement of the financial report, whether due to 
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit 
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not 
detecting a material misstatement resulting from fraud is higher than for one resulting from 
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the 
override of internal control. 
► 
Obtain an understanding of internal control relevant to the audit in order to design audit 
procedures that are appropriate in the circumstances, but not for the purpose of expressing an 
opinion on the effectiveness of the Group’s internal control.  
► 
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting 
estimates and related disclosures made by the directors. 
► 
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting 
and, based on the audit evidence obtained, whether a material uncertainty exists related to 
events or conditions that may cast significant doubt on the Group’s ability to continue as a going 
concern. If we conclude that a material uncertainty exists, we are required to draw attention in 
our auditor’s report to the related disclosures in the financial report or, if such disclosures are 
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up 
to the date of our auditor’s report. However, future events or conditions may cause the Group to 
cease to continue as a going concern.  
► 
Evaluate the overall presentation, structure and content of the financial report, including the 
disclosures, and whether the financial report represents the underlying transactions and events 
in a manner that achieves fair presentation. 
► 
Plan and perform the Group audit to obtain sufficient appropriate audit evidence regarding the 
financial information of the entities or business units within the Group as a basis for forming an 
opinion on the Group financial report. We are responsible for the direction, supervision and 
review of the audit work performed for the purposes of the Group audit. We remain solely 
responsible for our audit opinion. 
We communicate with the directors regarding, among other matters, the planned scope and timing of 
the audit and significant audit findings, including any significant deficiencies in internal control that we 
identify during our audit. 
We also provide the directors with a statement that we have complied with relevant ethical 
requirements regarding independence, and to communicate with them all relationships and other 
matters that may reasonably be thought to bear on our independence, and where applicable, actions 
taken to eliminate threats or safeguards applied. 
 
 
123

Independent Auditor’s Report
 
A member firm of Ernst & Young Global Limited 
Liability limited by a scheme approved under Professional Standards Legislation 
 
From the matters communicated to the directors, we determine those matters that were of most 
significance in the audit of the financial report of the current year and are therefore the key audit 
matters. We describe these matters in our auditor’s report unless law or regulation precludes public 
disclosure about the matter or when, in extremely rare circumstances, we determine that a matter 
should not be communicated in our report because the adverse consequences of doing so would 
reasonably be expected to outweigh the public interest benefits of such communication.  
Report on the audit of the Remuneration Report 
Opinion on the Remuneration Report 
We have audited the Remuneration Report included in pages 59 to 68 of the directors’ report for the 
year ended 31 December 2024. 
In our opinion, the Remuneration Report of Dicker Data Limited for the year ended 31 December 
2024, complies with section 300A of the Corporations Act 2001. 
Responsibilities 
The directors of the Company are responsible for the preparation and presentation of the 
Remuneration Report in accordance with section 300A of the Corporations Act 2001. Our 
responsibility is to express an opinion on the Remuneration Report, based on our audit conducted in 
accordance with Australian Auditing Standards. 
 
 
 
Ernst & Young 
 
 
 
 
Graham Leonard 
Partner 
Sydney 
27 February 2025 
 
 
 
124

Shareholder 
Information
Additional information required under ASX Listing Rule 4.10 and not shown elsewhere in this Annual 
Report is as follows. This information is current as at 4 February 2025. 
Ordinary Share Capital
Analysis of numbers of equity security holders by size of holding: 
Size of Holding
Number of 
Shareholders
Number of 
Shares
% of Issued 
Capital
100,001 and Over
45
138,561,876
76.74
10,001 to 100,000
856
18,321,353
10.15
5,001 to 10,000
1,157
8,563,435
4.74
1,001 to 5,000
4,912
11,754,705
6.51
1 to 1,000
9,107
3,349,297
1.86
Total
16,077
180,550,666
100.00
Unquoted Options
The Company had no unquoted options on issue as at 4 February 2025.
Less Than Marketable Parcels Of Ordinary Shares
There were 1,009 holders of less than a marketable parcel of ordinary shares. The number of shares 
in aggregate of these unmarketable parcels is 32,815.
Substantial Holders
The names of the Substantial Shareholders listed in the Company’s Register as at 4 February 2025:
Shareholder
Number of Ordinary 
Fully Paid Shares
% of Issued Capital
Mr David John Dicker
38,302,417
21.21%
Ms Fiona Tudor Brown
55,753,571
30.88%
Voting Rights
In accordance with the Constitution each member present at a meeting whether in person, or by 
proxy, or by power of attorney, or in a duly authorised representative in the case of a corporate 
member, shall have one vote on a show of hands, and one vote for each fully paid ordinary share, on 
a poll.
On-Market Buy-Backs
There is no current on-market buy-back in relation to the Company’s securities.
125

Twenty Largest Holders of Quoted Equity Securities
Rank
Size Of Holding
Number of 
Shares
% of 
Issued 
Capital
1
Fiona Tudor Brown 
25,702,069
14.24
2
BTR No 2 Pty Ltd 
21,800,000
12.07
3
Rodin Ventures Limited 
20,000,000
11.08
4
Rodin Ventures Limited 
18,302,417
10.14
5
HSBC Custody Nominees (Australia) Limited
13,287,600
7.36
6
J P Morgan Nominees Australia Pty Limited 
10,522,542
5.83
7
Citicorp Nominees Pty Limited 
8,957,583
4.96
8
Fiona Brown 
5,109,572
2.83
9
BTR Investments No 1 Pty Ltd
2,988,598
1.66
10
Jeremy & Lynette King Superannuation Pty Ltd 
1,911,996
1.06
11
Vladimir Mitnovetski 
884,992
0.49
12
Certane CT Pty Ltd 
844,520
0.47
13
BNP Paribas Nominees Pty Ltd 
620,274
0.34
14
National Nominees Limited 
595,627
0.33
15
Rochelle Gilmore 
590,457
0.33
16
Certane CT Pty Ltd 
558,041
0.31
17
Washington H Soul Pattinson & Company Limited 
527,813
0.29
18
Moorgate Investments Pty Ltd 
510,989
0.28
19
Sandhurst Trustees Ltd 
346,277
0.19
20
BNP Paribas Nominees Pty Ltd 
324,297
0.18
 
Total
134,385,664
74.44
 
Balance Of Register
46,165,002
25.56
 
Grand Total
180,550,666
100.00
126

Dicker Data acknowledges that Aboriginal and 
Torres Strait Islander peoples are the First 
Peoples and Traditional Custodians of Australia. 
We thank them for their custodianship of 
Country — land, seas and skies. 
We acknowledge the diversity of First Nations 
cultures, histories and peoples, recognise their 
enduring connection to our country, and we pay 
our deepest respects to Elders past, present 
and emerging.

1800 688 586
investors@dickerdata.com.au 
www.dickerdata.com.au
Dicker Data Limited  
ABN 95 000 969 362
Registered Office:
238 Captain Cook Drive
Kurnell NSW 2231