olivLaw · European equity research
DistIT AB (publ) DIST.ST
Sweden · Nasdaq Stockholm · Vertical: Listed companies from Sweden
DistIT AB is a Nordic distributor of IT products, home electronics, AV and professional lighting, and EV charging infrastructure, which is narrowing its portfolio toward a smaller assortment. The company ended 2024 with lower revenue but a higher adjusted gross margin, at a time when refinancing its bonds had become a central issue. Revenue fell to 1 617,5 MSEK, down 24,9 percent.
At the close of 05 Nov 2026, DistIT AB (publ) (DIST.ST) stock was 0.16 SEK (+4.65% on the day), with market capitalisation 4.4 m SEK, beta 0.47, 52-week range 0.11–0.23 SEK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 60.1
- strong (55–70)
- Bollinger (20, 2)
- 0.10 – 0.17
- in the upper half of the band · %B 0.83 · band width 49.0%
- SMA 50 / 200
- 0.13 / 0.17
- mixed trend
- MACD (12, 26, 9)
- 0.01 / 0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +32.4% | −0.6% | +33.0 pp | — |
| 3 months | +10.9% | −4.2% | +15.1 pp | — |
| 6 months | −12.5% | +4.3% | −16.8 pp | — |
| Year to date | −8.4% | +7.5% | −15.9 pp | — |
| 1 year | −4.0% | +9.9% | −13.9 pp | −8.5% |
| 3 years | −96.8% | +49.8% | −146.7 pp | +12.3% |
| 5 years | −99.9% | +42.8% | −142.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 2.6 bn | 2.2 bn | 1.6 bn |
| Revenue YoY | unavailable | −16.0% | −24.9% |
| Net income | -16.9 m | -418.6 m | -39.4 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -1.21 | -16.80 | -1.40 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -0.7% | -19.4% | -2.4% |
| Free cash flow | 57.8 m | 55.0 m | 34.7 m |
Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 48.0 m SEK
- Financial debt
- unavailable SEK
- Net debt
- unavailable SEK
- Equity
- 188.6 m SEK
- Total assets
- 961.7 m SEK
- Debt / equity
- unavailable
- Current ratio
- 1.03x
- ROE
- -18.8%
- ROA
- -3.7%
- FCF margin
- 2.1%
Financial statements (source on every figure)
Revenue and net income (SEK)
Margins
Income statement · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 2.6 bn | 2.2 bn | 1.6 bn | esef· 08 May 2025verified |
| Operating income | 6.9 m | -355.2 m | -99.4 m | esef· 08 May 2025verified |
| Depreciation & amortisation | 29.3 m | 316.6 m | 33.7 m | esef· 08 May 2025verified |
| EBITDA | 36.2 m ≈ | -38.6 m ≈ | -65.7 m ≈ | esef· 08 May 2025derived |
| Interest expense | 47.4 m | 65.9 m | 69.7 m | esef· 08 May 2025verified |
| Pre-tax income | -16.0 m | -415.4 m | -36.5 m | esef· 08 May 2025verified |
| Income tax | 513.0 k | 3.0 m | 2.9 m | esef· 08 May 2025verified |
| Net income | -16.9 m | -418.6 m | -39.4 m | esef· 08 May 2025verified |
| Diluted EPS | -1.21 | -16.80 | -1.40 | esef· 08 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Cash | 46.2 m | 30.2 m | 48.0 m | esef· 08 May 2025verified |
| Receivables | 511.0 m | 396.0 m | 312.5 m | esef· 08 May 2025verified |
| Inventories | 624.5 m | 511.3 m | 389.7 m | esef· 08 May 2025verified |
| Current assets | 1.2 bn | 937.4 m | 750.2 m | esef· 08 May 2025verified |
| Property, plant & equipment, net | 35.6 m | 27.0 m | 15.3 m | esef· 08 May 2025verified |
| Goodwill | 378.9 m | 92.9 m | 87.9 m | esef· 08 May 2025verified |
| Intangibles (excl. goodwill) | 75.4 m | 119.9 m | 104.7 m | esef· 08 May 2025verified |
| Total assets | 1.7 bn | 1.2 bn | 961.7 m | esef· 08 May 2025verified |
| Current liabilities | 646.7 m | 506.7 m | 730.1 m | esef· 08 May 2025verified |
| Equity | 569.5 m | 230.8 m | 188.6 m | esef· 08 May 2025verified |
| Shares outstanding at year end | 14.0 m | 23.7 m | 28.2 m | esef· 08 May 2025derived |
Cash flow · SEK
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 59.4 m | 55.9 m | 41.6 m | esef· 08 May 2025verified |
| Capex | 1.6 m | 900.0 k | 6.9 m | esef· 08 May 2025verified |
| Free cash flow | 57.8 m ≈ | 55.0 m ≈ | 34.7 m ≈ | esef· 08 May 2025derived |
| Investing cash flow | -36.8 m | -57.9 m | 15.2 m | esef· 08 May 2025verified |
| Financing cash flow | -16.6 m | -11.8 m | -40.8 m | esef· 08 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 4.4 m SEK
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -2.4% | 17 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -1.4x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 1.0x | 19 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 781.6% | 100 (on a fixed band) | 33% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet8/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial17/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial100/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
DistIT AB (DIST.ST). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 1.6 bn SEK in 2024; YoY growth -24.9%; net margin -2.4%; ROE -18.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF yield: 781.6%
What contradicts it
- Net margin: -2.4%
- Interest coverage: -1.4x
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Sweden · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALFA.STAlfa Laval AB | 223.0 bn | 27.0 | 19.4% | 11.9% | +4.1% | +21% / +38% |
| BOL.STBoliden Ab | 143.0 bn | 15.2 | 13.3% | 10.1% | +4.8% | +12% / +81% |
| CAST.STCastellum Aktiebolag | 66.6 bn | 71.0 | 1.2% | 9.8% | −2.6% | +27% / +6% |
| AAK.STAak Ab (publ) | 47.5 bn | 13.9 | 17.2% | 7.5% | +2.2% | −31% / −14% |
| CAMX.STCamurus AB | 42.5 bn | 58.5 | 19.5% | 32.5% | +21.3% | +16% / +55% |
| BRAV.STBravida Holding AB | 30.1 bn | 24.5 | 13.7% | 4.4% | −4.9% | +84% / +123% |
| ASKER.STAsker Healthcare Group AB | 29.8 bn | 60.5 | 9.8% | 2.9% | +11.7% | −18% / unavailable |
| ALLEI.STAlleima AB | 22.7 bn | 33.8 | 4.1% | 3.6% | −5.4% | +11% / +19% |
| BURE.STBure Equity AB | 22.6 bn | — | -21.0% | — | unavailable | +20% / +19% |
| AQ.STAQ Group AB | 19.7 bn | 29.2 | 14.9% | 7.5% | +6.0% | +14% / +119% |
| ALTRA.STAltra Fastigheter AB | 18.4 bn | 33.9 | 3.0% | 15.1% | −2.2% | +9% / +19% |
| ATT.STAttendo AB (publ) | 16.8 bn | 20.7 | 15.1% | 4.3% | +0.1% | +34% / +223% |
| AFRY.STAfry Ab | 14.9 bn | 18.7 | 6.2% | 3.1% | −5.2% | −17% / +4% |
| ATRLJ-B.STAtrium Ljungberg AB | 14.0 bn | 17.1 | 2.9% | 23.9% | −2.0% | −33% / −44% |
| ALIG.STAlimak Group AB (publ) | 12.7 bn | 21.3 | 8.2% | 8.8% | −3.2% | −18% / +50% |
| ACAD.STAcadeMedia AB | 12.7 bn | 15.5 | 12.7% | 4.3% | +9.7% | +22% / +138% |
| APOTEA.STApotea AB (publ) | 10.7 bn | 46.8 | 31.3% | 3.2% | +10.1% | +15% / unavailable |
| BOOZT.STBoozt AB | 10.6 bn | 37.9 | 10.4% | 3.6% | +0.5% | +58% / +44% |
| BUFAB.STBufab AB (publ) | 5.0 bn | 9.2 | 15.1% | 6.9% | −7.4% | +36% / +110% |
| ACTI.STActive Biotech AB (publ) | 4.9 bn | — | -84.5% | — | unavailable | −32% / −77% |
| CEVI.STCellaVision AB | 4.7 bn | 30.8 | 18.0% | 20.2% | +4.9% | +20% / +12% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.2 | 13.0% | 2.2% | +16.7% | +1% / +25% |
| BHG.STBHG Group AB | 4.5 bn | 31.1 | 2.5% | 1.4% | +6.2% | −18% / +113% |
| CARA.STCarasent AB (publ) | 1.8 bn | 51.7 | 4.1% | 10.1% | +24.9% | −8% / +87% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +16% / −51% |
1- and 3-year price returns: for DIST.ST from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (SEK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
DistIT AB is a Nordic distributor of IT products, home electronics, AV and professional lighting, and EV charging infrastructure, which is narrowing its portfolio toward a smaller assortment. The company ended 2024 with lower revenue but a higher adjusted gross margin, at a time when refinancing its bonds had become a central issue. Revenue fell to 1 617,5 MSEK, down 24,9 percent.
SWOT
Strengths
- A diversified portfolio of exclusive and own brands, with a growing share of revenue. Solid regional presence in the Nordic countries and the Baltics. Long-standing supplier relationships, supported by an in-house quality control team in China.
- Improvement in the adjusted gross margin in 2024, especially at Aurdel, shows that assortment simplification measures can work. The niche distribution model allows adaptation to specialised segments.
- Several business units give geographic and channel diversification, from professional B2B to B2C and e-commerce, reducing dependence on a single customer type.
Weaknesses
- Revenue fell significantly in 2024, and results remain negative. Restructuring costs weighed on profitability and showed that the current structure needs further adjustment.
- High indebtedness and dependence on refinancing the bonds. Management acknowledges there are no guarantees of a successful outcome, which adds a material financial risk.
- Margins in some segments, such as EFUEL, remain negative at EBIT level, and the loss of key products affected customer confidence and volumes.
Opportunities
- Growth in the electric vehicle and charging infrastructure market could offer opportunities for EFUEL if demand recovers. Electrification in the Nordic countries is considered advanced.
- Growth in e-commerce and smart-home solutions could open new channels for Septon and other units if the digital expansion strategy materialises.
- A focus on narrower assortments and brands with better margins could improve profitability over the medium term if the reorganisation delivers the expected effects.
Threats
- Competitive pressure and falling prices could keep eroding margins, especially in consumer electronics and IT segments.
- More difficult financing conditions could make bond refinancing more expensive or limit access to capital if markets deteriorate.
- Dependence on Asian suppliers and international transport exposes the company to delays, currency fluctuations and supply chain risks.
Risks
- Bond refinancinghigh
The company's bonds were due in May 2025, and the refinancing plan was still under negotiation at the time of the report. Management says there are no guarantees of a successful negotiation, which could affect liquidity if a solution is delayed.
- Losses and restructuringhigh
The negative result and restructuring costs at Aurdel reduced margins and could continue to affect profitability if simplification measures do not deliver the expected effects.
- Dependence on Chinese suppliersmedium
Most own-brand suppliers are in China, exposing the company to quality, compliance and geopolitical risks. An interruption in supply could affect sales and reputation.
- Credit and insurance risksmedium
Industry competition has reduced access to credit insurance for customers, which could lead to higher credit losses if the economic situation worsens.
- IT securitylow
Following a security incident in September, the company strengthened its systems, but cyber risks remain. A new incident could affect operations and customer data.
Investment thesis
What would need to be true (bull case)
- If the Aurdel restructuring and assortment simplification keep improving margins, the company could recover profitability in its core segments. Growth at Septon and stabilisation at EFUEL could support this scenario.
- The own-brand portfolio, which could regain share of revenue, may improve margins. If demand for electronics and charging infrastructure recovers, volumes could return.
- Divesting non-core assets and restructuring the portfolio could simplify the group and reduce debt, if the transactions close as planned.
What would break the thesis
- If the bond refinancing fails in time, the company could face serious liquidity pressure and might be forced to sell assets on unfavourable terms.
- Competitive pressure and falling prices could continue to limit margins even if volumes stabilise. The restructuring could require additional costs if it does not deliver quick savings.
- The EV charging market could stay weak for longer than expected, and EFUEL could keep reporting operating losses if demand does not recover.
What to watch
- Completion of the bond refinancing planfirst half 2025
- Completion of the transfer of Septon Holding's assets to Exertis CapTech2025
- Development of the adjusted gross margin at Aurdel after restructuringnext 10-K
- EFUEL's results and recovery of the Nordic charger market2025
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
DistIT develops, owns and operates niche distributors in IT, mobility, home electronics, networking, data communications, AV products and charging infrastructure, primarily in the Nordics and the Baltics. The company supplies products and accessories to both B2B and B2C customers through physical and digital channels. Its own brand products (EMV) are an important part of the business model, and their share of revenue rose to 29,2 percent in 2024.
The group structure changed significantly: Winther Wireless was divested in 2024, and Sominis was sold for a consideration of 1,5 MEUR to a company controlled by Sominis' former CEO. Deltaco Baltic was due to be divested in 2025. The group mainly operates through Aurdel, Septon and EFUEL, alongside its two service and administrative entities.
The company is in the middle of streamlining its operations, described by management as a refocus on a narrower assortment. Restructuring costs and debt amortisation had a significant impact on results, and the refinancing plan for bonds maturing in May 2025 was still being prepared at the time of the report.
Segments
Aurdel
Aurdel is a distributor of quality products and accessories in IT, mobility, consumer electronics, networking and data communications in northern Europe. It was the most affected segment in 2024: revenue fell to 1 019,8 MSEK, and reorganisation costs weighed on EBIT. Its adjusted gross margin nonetheless rose compared with the prior year.
Septon
Septon distributes professional audio-video equipment, lighting products and premium consumer electronics, with exclusive representation of several international brands. The segment grew in 2024, but its gross margin fell due to currency effects and a mix with more low-margin products. In the first quarter of 2025, DistIT signed an agreement to transfer the majority of Septon Holding's assets to Exertis CapTech.
EFUEL
EFUEL is a niche distributor for EV charging, with solutions for companies, housing associations and public car parks. Revenue fell to 83,8 MSEK, affected by the withdrawal of Easee products and by a declining charger market in 2024, although the market showed signs of recovery toward the end of the year.
Market context
The Nordic EV charger market declined in 2024, mainly in the first half, driven by the economic climate and weaker sales of electrified vehicles. In Sweden, new registrations of electric passenger cars fell by 9 percent, and the number of subsidised chargers fell by 17 percent. The company expects the market to keep growing over the coming years, as the Nordic countries are among the most electrified in the world.
The IT and consumer electronics distribution market is competitive, with pressure on prices and credit terms. Management notes that intensifying competition has limited access to credit insurance for customers and has led to somewhat higher credit losses in recent years.
Trends
- Digitalisation and 5Gtailwind
Digitalisation, 5G networks, data communications and smart-home solutions create structural demand for the products DistIT distributes, according to management. These trends could support long-term growth if they translate into higher sales volumes.
- Electric vehicles and charging infrastructuremixed
Electrification of transport is a favourable trend for EFUEL, but the charging station market declined in 2024. The recovery seen toward year-end could support growth if electric vehicle registrations rebound.
- Economic conditionsheadwind
Lower consumption and investment in consumer electronics and professional equipment weighed on sales in 2024. Management says it monitors the economic situation closely, but a weak economy could prolong pressure on revenue and margins.
- Financing costsheadwind
The company relies on floating-rate credit facilities and factoring, making financing conditions an important factor. If interest rates stay high, refinancing costs could weigh on results and financial flexibility.
Competitive position
DistIT competes with IT and consumer electronics distributors in the Nordics and Europe, as well as with suppliers specialised in professional lighting and audio-video. Competition has increased in recent years and has pressed margins, and the EV charging segment has many suppliers. The sources analysed do not provide a formal ranking of competitors.
DistIT's stated advantages are its portfolio of exclusive and own brands, long-standing supplier relationships in Asia and Europe, and regional presence. Larger competitors with global scale could have better sourcing terms, which is a risk of price pressure for the company.
- Exertis CapTech
Buyer of the majority of Septon Holding AB's assets, announced in the first quarter of 2025. No confirmed US ticker in the source.
- EV charger suppliers
The source names brands such as Charge Amps, Nexblue, Ctek and go-e, which EFUEL distributes. Competition in this segment is organised around these suppliers and their distributors.
- Nordic IT and consumer electronics distributors
Competitors in local markets, including those selling through e-commerce and retail networks, are mentioned generically in the source without names.
- Professional AV and lighting equipment suppliers
Septon competes with professional audio-video and lighting distributors, especially in the Pro AV segment. The source does not name these competitors.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202408 May 2025
- Annual report 202323 Apr 2024
Sources
- [1] Annual report, fiscal year ended 2024-12-31 (ESEF) · SEC / DistIT AB (publ) · 31 Dec 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.