Dustin Group AB (publ) DUST
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Full analysis: 6 Apr 2026
Latest news check: 4 Aug 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Hold/wait. Consider adding only if upcoming quarters confirm stable gross margin and continued adjusted EBITA improvement without new one-offs; the insider buy is supportive but not a substitute for durable earnings proof.
Operational improvement in adjusted EBITA and lower leverage is balanced against continued high execution risk and the need for several more quarters of stable margins.
Market sentiment
8/10
↑
Trend: Improving
Sentiment improves on the strong market reaction and a reiterated Buy with a higher target price, but uncertainty remains around sustainable margin improvement and the SMB transition following the goodwill impairment.
Price context
The share price at SEK 1.81 is near the lower end of its recent range with modest momentum.
Risk assessment
7/10
Dilution:
Low
Recent rights issue and improved cash flow reduce need
Jurisdiction:
Low
Operations in Nordics and Benelux are stable
Execution:
High
Turnaround depends on margin lift and cost delivery
Recent changes
- Dustin reported revenue of 5,225 MSEK (+2.7%), gross margin of 14.4% and adjusted EBITA of 118 MSEK (2.3%). Operating profit was -769 MSEK due to a goodwill impairment.
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Show all changes (5) — follow the company freeAbout the company
Dustin Group AB (publ) is an IT reseller and IT partner selling hardware, software, and services primarily to businesses and the public sector across the Nordics and Benelux. The company is in a turnaround/restructuring phase focused on cost savings, margin recovery, and deleveraging after a period of pressured profitability.
Sector:
IT resale and IT services
Type:
Tech
Next report
15 Oct 2026
Q4
Catalysts
Unknown
SEK 80m cost-saving programme
High
Unknown
Aftermath of goodwill impairment
Medium
Unknown
CEO insider purchase
Low
Horizon:
Bull case
Efficiency measures and declining net debt can provide support for margins going forward.
Bear case
Continued margin pressure in SMB and Benelux together with uncertainty after the goodwill impairment can weigh on results.
Signal rationale (informational)
Operational improvement in adjusted EBITA and lower leverage is balanced against continued high execution risk and the need for several more quarters of stable margins.
Recent news
- No new press releases or company-specific events have been identified after the Q3 report on 1 July 2026.
Price & valuation
Last close
SEK 1.79
1 week
-1.8 %
3 months
+7.3 %
12 months
+11.2 %
From 52w high
-18.2 %
From 52w low
+35.5 %
Exchange
Stockholm
Type
Technology
Sector
IT resale and IT services
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.