A Nordic acquisition-oriented distribution group in IT accessories and consumer electronics

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. Sales were SEK 1.8bn in 2017 with an EBIT margin of 3.3%. Financial targets are 10% EPS growth and an equity ratio >35%. The shares are listed on NASDAQ First North.

Financials

DistIT

Sales 2017 2018 2019
Sales growth (%) 15,5 25,1 6,7
EBITDA 71 82 107
EBITDA margin (%) 4 3,7 4,5
EBIT adj 61 81 96
EBIT adj margin (%) 3,4 3,6 4,1
Pretax profit 54 59 86
EPS rep 2,97 3,57 5,12
EPS growth (%) -91,4 20 43,7
EPS adj 3,13 4,37 5,12
DPS 0 1,6 2
EV/EBITDA (x) 10,5 9,1 6,9
EV/EBIT adj (x) 12,3 9,2 7,6
P/E (x) 13,8 10,1 7
P/E adj (x) 13,1 8,3 7
EV/sales (x) 0,4 0,3 0,3
FCF yield (%) -5,1 -11,3 8,8
Dividend yield (%) 0 4,4 5,5
Net IB debt/EBITDA 3,2 3,5 2,5
SEKm 2017 2018 2019