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DistIT Group Q4: Underlying EBIT in line with forecasts, write-downs burden reported losses - SEB

Underlying Q4 LBIT of SEK 6m are in line with our LBIT forecast of SEK 8m, despite slightly weaker sales (-2% vs. our estimates). Reported LBIT are charged with several non-recurring items, including write-downs of inventory, as well as goodwill, relating to its troubled Efuel division. Acting CEO Per Kaufmann has started a strategic overview of its operations aiming at streamlining and focusing on profitability. Our current mid-point valuation range is SEK 7-11 per share.

Underlying Q4 LBIT of SEK 6m are in line with our LBIT forecast of SEK 8m, despite slightly weaker sales (-2% vs. our estimates). Reported LBIT are charged with several non-recurring items, including write-downs of inventory, as well as goodwill, relating to its troubled Efuel division. Acting CEO Per Kaufmann has started a strategic overview of its operations aiming at streamlining and focusing on profitability. Our current mid-point valuation range is SEK 7-11 per share.
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