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DistIT Group Q3: Betters our estimates, with Efuel as the big surprise - SEB

DistIT Group reported Q3 sales and earnings ahead of our forecasts across the P&L. The consolidation of its recent acquisition of Efuel (included from 18 August), the leading player in the Swedish EV charging market, surprised versus our forecasts (incl. an EBIT margin of 18.5%). Group adjusted EBIT came in at 3.1% of sales (SEBE: 2.7%). DistIT reiterates FY 2021 sales (SEK 120m) and EBIT margin (at least 10%) targets for Efuel . We reiterate our mid-point DCF of SEK 180.

DistIT Group reported Q3 sales and earnings ahead of our forecasts across the P&L. The consolidation of its recent acquisition of Efuel (included from 18 August), the leading player in the Swedish EV charging market, surprised versus our forecasts (incl. an EBIT margin of 18.5%). Group adjusted EBIT came in at 3.1% of sales (SEBE: 2.7%). DistIT reiterates FY 2021 sales (SEK 120m) and EBIT margin (at least 10%) targets for Efuel . We reiterate our mid-point DCF of SEK 180.
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