DistIT: Q4'23: in line on adj. EBIT - ABG

Sales SEK 553m -8% vs. ABGSCe 599m
Adj. EBIT ~SEK -5m vs. ABGSCe -8m
Cons. EBIT likely to come up marginally


Q4'23 results

Q4'23 sales came in at SEK 553m, down ~23% y-o-y, and and 8% below ABGSCe. Adj. EBIT came in at ~SEK 5m, down ~SEK 12m y-o-y. Adj. gross margin came in at 19.9%, which is 1.1pp below our expectation. On a segment basis, Aurdel, Septon and EFUEL missed on sales, whereas Sominis delivered a beat. On EBIT, however, Aurdel and Septon delivered a beat, whereas Sominis and EFUEL missed. Importantly, the company generated operating cash flow of nearly SEK 18m, which means that the company's restructuring efforts are bearing fruit and that working capital is appropriately decreasing.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/distit/Equity-research/2024/2/distit---q423-in-line-on-adj.-ebit/