DistIT (DIST) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 fell 36.2% year-over-year to 244.0 MSEK, mainly due to strategic downsizing and divestments.

• Gross margin dropped to 1.5% (12.6%), but adjusted for inventory write-downs, it was 22.4% (23.3%).

• EBITA was -80.7 MSEK (-76.2), with adjusted EBITA at -29.8 MSEK (-19.9).

• Net loss for Q2 was -92.1 MSEK (-69.4), with EPS at -3.20 SEK (-2.47).

• Major refinancing and equity issuance agreements were reached to strengthen liquidity and reduce debt.

Financial highlights

• H1 2025 revenue declined 30.4% year-over-year to 584.2 MSEK.

• H1 gross margin was 15.1% (17.5%), adjusted to 23.8% (23.1%) excluding one-offs.

• H1 EBITA was -82.8 MSEK (-92.5), adjusted EBITA -31.9 MSEK (-36.2).

• H1 net loss was -105.4 MSEK (-93.1), EPS -3.89 SEK (-3.32).

• Cash flow from operations in Q2 was 26.9 MSEK (5.4); H1 was -7.8 MSEK (23.4).

Outlook and guidance

• Previous full-year guidance of 1,000 MSEK revenue and 40 MSEK EBITDA for 2025 is no longer maintained due to weaker than expected sales.

• Improved liquidity from refinancing and new share issues is expected to support a stronger position entering 2026.