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DistIT

DistIT

DistIT acquires, owns and develops distributors of accessories for IT, Mobility, Multimedia, Network and data communications in the Nordic and Baltic countries. DistIT and its subsidiaries have a firm track record of value-added acquisitions, but also divestments such as Alcadon in 2016. Today DistIT consists of Deltaco, Aurora Group, Septon Electronics and Sominis Technology. The shares are listed on NASDAQ First North.

Sustainability information

Shift in technology preferences and disruptive technologies, price pressure.

SEKm 2024 2025e 2026e
Sales 1631 1651 1722
Sales growth (%) -24,3 1,3 4,3
EBITDA -67 52 77
EBITDA margin (%) -4,1 3,2 4,4
EBIT adj. -36 27 50
EBIT adj. margin (%) -2,2 1,6 2,9
Pretax profit -134 -9 20
EPS -5,47 -0,33 0,53
EPS growth (%) -66,1 -93,9 -258,9
EPS adj. -3,24 -0,33 0,53
DPS 0 0 0
EV/EBITDA (x) -7,2 9,3 6,1
EV/EBIT adj. (x) -13,5 18,2 9,3
P/E (x) -0,5 -8,3 5,3
P/E adj. (x) -0,9 -8,3 5,3
EV/sales (x) 0,3 0,3 0,27
FCF yield (%) 75 8,8 45,9
Le. adj. FCF yld. (%) 57,3 -6,5 30,6
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -6 7,8 5
Le. adj. ND/EBITDA (x) -82,5 7,5 4,8
SEKm 2024 2025e 2026e
Sales 1631 1651 1722
COGS -1280 -1238 -1282
Gross profit 351 413 440
Other operating items -418 -361 -363
EBITDA -67 52 77
Depreciation and amortisation -31 -25 -26
of which leasing depreciation 0 0 0
EBITA -98 27 50
EO Items -63 0 0
Impairment and PPA amortisation 0 0 0
EBIT -98 27 50
Net financial items -36 -36 -30
Pretax profit -134 -9 20
Tax -20 0 -4
Net profit -154 -9 16
Minority interest 0 0 -1
Net profit discontinued 0 0 0
Net profit to shareholders -154 -9 15
EPS -5,47 -0,33 0,53
EPS adj. -3,24 -0,33 0,53
Total extraordinary items after tax -72 0 0
Leasing payments 0 0 0
Tax rate (%) -14,6 0 22
Gross margin (%) 21,5 25 25,5
EBITDA margin (%) -4,1 3,2 4,4
EBITA margin (%) -6 1,6 2,9
EBIT margin (%) -6 1,6 2,9
Pre-tax margin (%) -8,2 -0,6 1,2
Net margin (%) -9,4 -0,6 0,9
Sales growth (%) -24,3 1,3 4,3
EBITDA growth (%) 74,4 -177,7 46,4
EBITA growth (%) 40,6 -127,3 86,5
EBIT growth (%) -72,3 -127,3 86,5
Net profit growth (%) -63,3 -94,1 -272,7
EPS growth (%) -66,1 -93,9 -258,9
Profitability N/A N/A N/A
ROE (%) -95,6 -11 16,9
ROE adj. (%) -50,9 -11 16,9
ROCE (%) -15,6 5 9,4
ROCE adj. (%) -5,7 5 9,4
ROIC (%) -19,1 5,5 8
ROIC adj. (%) -6,9 5,5 8
Adj. earnings numbers N/A N/A N/A
EBITDA adj. -5 52 77
EBITDA adj. margin (%) -0,3 3,2 4,4
EBITDA lease adj. -5 52 77
EBITDA lease adj. margin (%) -0,3 3,2 4,4
EBITA adj. -36 27 50
EBITA adj. margin (%) -2,2 1,6 2,9
EBIT adj. -36 27 50
EBIT adj. margin (%) -2,2 1,6 2,9
Pretax profit Adj. -71 -9 20
Net profit Adj. -82 -9 16
Net profit to shareholders adj. -82 -9 15
Net adj. margin (%) -5 -0,6 0,9
SEKm 2024 2025e 2026e
EBITDA -67 52 77
Goodwill 87 84 82
Net financial items -36 -36 -30
Other intangible assets 109 109 109
Paid tax -20 0 -4
Tangible fixed assets 9 10 11
Non-cash items 6 0 0
Right-of-use asset 16 15 14
Cash flow before change in WC -116 16 42
Total other fixed assets 6 6 6
Change in working capital 175 2 5
Fixed assets 226 224 221
Operating cash flow 59 18 48
Inventories 326 305 319
Capex tangible fixed assets -5 -17 -17
Receivables 245 248 258
Capex intangible fixed assets 0 0 0
Other current assets 54 33 34
Acquisitions and Disposals 5 6 6
Cash and liquid assets 50 39 57
Free cash flow 59 7 36
Total assets 900 849 890
Dividend paid 0 0 0
Shareholders equity 90 81 96
Share issues and buybacks 0 0 0
Minority 0 0 1
Leasing liability amortisation -14 -12 -12
Total equity 90 81 97
Other non-cash items 9 0 0
Long-term debt 414 408 403
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 16 16 16
Total other long-term liabilities 5 5 5
Short-term debt 25 25 25
Accounts payable 212 215 241
Other current liabilities 139 99 103
Total liabilities and equity 900 849 890
Net IB debt 405 410 386
Net IB debt excl. pension debt 405 410 386
Net IB debt excl. leasing 389 394 371
Capital employed 545 530 541
Capital invested 495 491 483
Working capital 274 272 267
Market cap. diluted (m) 78 78 78
Net IB debt adj. 405 410 386
Market value of minority 0 0 1
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 483 489 466
Total assets turnover (%) 155,9 188,8 198,1
Working capital/sales (%) 22,2 16,5 15,7
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 448,1 504,6 398,1
Net debt / market cap (%) 516,9 523,4 492,8
Equity ratio (%) 10 9,6 10,9
Net IB debt adj. / equity (%) 448,1 504,6 398,1
Current ratio 1,79 1,84 1,81
EBITDA/net interest 1,9 1,5 2,6
Net IB debt/EBITDA (x) -6 7,8 5
Net IB debt/EBITDA lease adj. (x) -82,5 7,5 4,8
Interest coverage 2,8 0,7 1,7
SEKm 2024 2025e 2026e
Shares outstanding adj. 28 28 28
Diluted shares adj. 28 28 28
EPS -5,47 -0,33 0,53
Dividend per share 0 0 0
EPS adj. -3,24 -0,33 0,53
BVPS 3,22 2,88 3,42
BVPS adj. -3,76 -4 -3,37
Net IB debt/share 14,42 14,6 13,75
Share price 2,79 2,79 2,79
Market cap. (m) 78 78 78
P/E (x) -0,5 -8,3 5,3
EV/sales (x) 0,3 0,3 0,27
EV/EBITDA (x) -7,2 9,3 6,1
EV/EBITA (x) -4,9 18,2 9,3
EV/EBIT (x) -4,9 18,2 9,3
Dividend yield (%) 0 0 0
FCF yield (%) 75 8,8 45,9
Le. adj. FCF yld. (%) 57,3 -6,5 30,6
P/BVPS (x) 0,87 0,97 0,82
P/BVPS adj. (x) 23,88 -23,71 5,44
P/E adj. (x) -0,9 -8,3 5,3
EV/EBITDA adj. (x) -102,4 9,3 6,1
EV/EBITA adj. (x) -13,5 18,2 9,3
EV/EBIT adj. (x) -13,5 18,2 9,3
EV/CE (x) 0,9 0,9 0,9
Investment ratios N/A N/A N/A
Capex/sales (%) 0,3 1 1
Capex/depreciation 0,2 0,7 0,7
Capex tangibles / tangible fixed assets 57,2 171,1 158,4
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 360,01 263,24 242,84

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Media

DistIT - Company presentation with CEO Robert Rosenzweig
DistIT - Company presentation with CEO Robert Rosenzweig

Main shareholders - DistIT

Main shareholders Share capital % Voting shares % Verified
Athanase Industrial Partners 21.4 % 21.4 % 23 Dec 2024
Anders Bladh (Ribbskottet AB) 12.1 % 12.1 % 21 Apr 2023
Redstone Investment Group SA 10.6 % 10.6 % 23 Dec 2024
Måns Flodberg 7.1 % 7.1 % 31 Dec 2024
Theodor Jeansson Jr. 6.9 % 6.9 % 23 Dec 2024
Avanza Pension 5.2 % 5.2 % 23 Dec 2024
Pontus Norell 2.0 % 2.0 % 31 Dec 2024
Nordnet Pensionsförsäkring 1.7 % 1.7 % 23 Dec 2024
Carl Rosvall 1.5 % 1.5 % 23 Dec 2024
Kristoffer Jeansson 1.4 % 1.4 % 23 Dec 2024
Source: Holdings by Modular Finance AB