DistIT (DIST) Q1 2025 earnings summary

Executive summary

• Revenue declined 25.7% year-over-year to 340.2 MSEK, mainly due to strategic restructuring and divestments; adjusted for Sominis Technology, the decrease was 15.7%.

• Gross margin improved to 24.8% (21.5% last year), reflecting a focus on higher-margin products and cost control.

• EBITA improved to -2.1 MSEK from -16.3 MSEK; net loss narrowed to -13.3 MSEK from -23.7 MSEK; loss per share improved to -0.69 SEK.

• Significant structural changes included the sale of Deltaco Baltic UAB and an agreement to divest most of Septon Holding AB's assets.

• New CEO Peter Bäckius will take office in autumn 2025.

Financial highlights

• Revenue: 340.2 MSEK (457.5 MSEK last year); excluding currency effects, 329.0 MSEK.

• Gross margin: 24.8% (21.5%); excluding currency, 25.1%.

• EBITA: -2.1 MSEK (-16.3 MSEK); adjusted EBITA: -2.1 MSEK (-16.3 MSEK); excluding currency, -3.8 MSEK.

• Net result: -13.3 MSEK (-23.7 MSEK); cash flow from operations: -34.7 MSEK (18.0 MSEK).

• Own brands accounted for 33.5% of revenue (26.3%).

Outlook and guidance

• 2025 targets: revenue of 1,000 MSEK and EBITDA of 40 MSEK, but market uncertainty remains high.

• Management expects working capital to improve after refinancing, enabling future growth.