DistIT Group has announced the acquisition of Efuel, a Swedish market leader (30% share) within the electrical vehicle (EV) charging segment. Integrating the value chain implies higher margins. Being also one of DistIT’s largest customers, we view the risk/reward of the transaction as more attractive. After incorporating guidance for Efuel P&Ls (“70-100% annual growth”), we raise our 2022-23 estimates. Our new mid-point equity value is SEK 180.
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