Duni: Q2 - weak quarter impacted by logistic disruption - SEB
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Duni: Q2 - weak quarter impacted by logistic disruption - SEB

Duni Q2/26 came in below our estimate, with organic growth of -3% in line, but operating income of SEK 65m some c. 13% below due to temporary logistics disruption at the new Meppen warehouse and Middle East geopolitical headwind. Although management expects the Q3 financial impact to be considerably less than in Q2, headwinds are anticipated to persist. Overall, a soft quarter, in line with the preliminary warning issued on 12 June 2026, but still weaker than we had assumed.

Duni Q2/26 came in below our estimate, with organic growth of -3% in line, but operating income of SEK 65m some c. 13% below due to temporary logistics disruption at the new Meppen warehouse and Middle East geopolitical headwind. Although management expects the Q3 financial impact to be considerably less than in Q2, headwinds are anticipated to persist. Overall, a soft quarter, in line with the preliminary warning issued on 12 June 2026, but still weaker than we had assumed.
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