DistIT AB (publ): Reversed profit warning

2021-01-18 08:00

The group’s strategy has given effect and which has resulted in an expected EBIT of 45-50 MSEK for the fourth-quarter 2020, which according to the company deems to be significantly higher than the market expectations.

DistIT’s strategy including an increased focus on own brands and cost efficiency has given positive effects, which results in preliminary earnings before interest and taxes (EBIT) of 45-50 MSEK (38,0) for the fourth-quarter 2020. This implies an increase of 25%* compared to the corresponding period in 2019.
Below are DistIT’s preliminary numbers for the fourth-quarter and full year 2020.

October – December 2020
– Total revenue of 730-750 MSEK (706,8), an increase of 5%*
– EBIT of 45-50 MSEK (38,0), an increase of 25%*

Full Year 2020
– Total revenue of 2 350-2 370 (2 330,9), an increase of 1%*
– EBIT of 82-87 MSEK (adjusted 71,6), an increase of 17%*

*The change in per cent represents the middle of the intervals.

The financial statement of 2020 is not yet audited, and hence the numbers may be changed. The year-end report of 2020 will be released on February 23 as previously communicated.

CEO Robert Rosenzweig: ”it is satisfying to announce that we see significant effects of our strategy. It has been a challenging year for the organization with focus on continuous improvements and improving our commercial capabilities. We have confidence in the group’s future, substantiated by the fact that we are already seeing the fruits of our efforts”.