DistIT announced today that they have decided to stop all sales to Russia and Belarus because of the war in Ukraine. It is mainly the subsidiary Aurora Deltaco that previously have had revenues from these areas. Moreover, DistIT has donated 27,000 powerbanks and other products but also provides financial support of SEK ~200,000 to the Red Cross in Ukraine.
We estimate <1% and 2% impact on sales and ebit>1%>
We do not expect that this will have any major impact on the group sales since the revenues from Russia and Belarus are very small. We estimate this to have a smaller impact than 1% of total sales. Moreover, we estimate that the donations and financial support to Ukraine amount to a maximum of SEK 3 million for the Group, which corresponds to 2% of our 2022 EBIT estimates.
Negligible impact on revenue and earnings
To summarize, we do not expect large financial effects from this decision. We view this decision more as an important statement in the conflict, in line with other Swedish companies.
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