Logicalis reported a revenue surge of 12.1 per cent.
The reseller saw its revenues in increase to US$645.4m (£504.2m), compared to US$575.6m (£449.3m) in the same period of the previous fiscal year (H1 FY23).
Despite facing macroeconomic hurdles, the company said its performance shows its resilience and strategic positioning within the industry.
Logicalis continued to experience a strong order intake during H1 FY24, although slightly lower than the exceptional levels seen in the previous fiscal year.
Improving supplier lead times contributed to a 16.7 per cent decrease in product backlog over the past 12 months, with the backlog standing at approximately US$244m (£190.5m) at the end of H1 FY24 (H1 FY23: US$293m or £228.8m).
Logicalis’ gross margin improved to 24.4 per cent (H1 FY23: 23.8 per cent), driven by enhancements in product margins. Gross profit reached US$157.5m (£123.0m) (H1 FY23: US$136.7m or approximately £106.8m).
EBITDA soared by 41 per cent to US$25.8m (£20.2m) (H1 FY23: US$18.3m or £14.3m), with a corresponding EBITDA margin of four per cent (H1 FY23: 3.2 per cent).
Adjusted EBITDA, excluding one-off tax items and share-based payment costs, increased to US$28.4m (£22.2m) (H1 FY23: US$26.5m or £20.7m), with a corresponding adjusted EBITDA margin of 4.4 per cent (H1 FY23: 4.6 per cent).
Logicalis reported operating profit rebounding to US$11.2m (£8.8m) from the US$0.3m (£0.2m) it generated in 2023, with the previous year’s figure impacted by restructuring costs of US$5.2m (£4.1m).
In a statement the company said that Logicalis International continues to develop its capabilities within cloud, IoT, software, security, data management, and intelligent networks in support of its strategy to provide full life-cycle solutions around IT infrastructure to its customers.
While acknowledging the short-term macroeconomic uncertainties, Logicalis expressed confidence in the long-term prospects for the industry and its positioning within it.
