Investors

Strategy and financial targets

Duell is aiming for significant revenue growth. Acquisitions, promoting online sales and new brands are key priorities in the growth strategy.

Key strategic objectives

To be the best partner for dealers and brand owners throughout Europe
Strengthen its leading market position in the Nordics.

Strategic priorities

Geographical market expansion

Increasing market share by attracting new customers and increasing the share of total customer purchases.
Expansion into new markets and product categories. adding existing group brands and product categories to its country specific product offerings.
M&A transactions. Duell has identified several potential targets.
In larger M&A transactions, Duell may also consider a mix of debt and equity financing to incentivize sellers.

Partner for building online sales

Duell is able to provide its partners fast and accurate order processing, one stop shop approach in product sourcing, broad product inventory and dynamic and flexible deliveries.
Duell also provides business to business online stores and system integrations that enable cross-docking, dropshipping, automated processes and orders as well as checking stock availability in real time. Furthermore, Duell is continuously improving its Product Information Management platform to increase overall transparency and seamless coverage of product information.
Duell also aims to effectively support traditional offline customers in making the shift towards the online dealer space in addition to supporting traditional offline dealers.

Brand Portfolio Development

Including more brands and optimising in its product portfolio.
To attract best brand suppliers by offering a strong value proposition.
In addition to best brands, Duell distributes top and transitional brands that have the potential to be converted into own brands when certain volume requirements are met and Duell finds a suitable supplier, and that generally have higher margins than third party brands.
Duell will consider acquiring own brands

Financial targets

Medium term targets (3-5 years)

Growth: net sales in the range of EUR 200-300 million in medium-term, achieved through with yearly growth organically and inorganically.
Profitability: adjusted EBITA margin of at least 13% in the medium-term.
Leverage: net debt to adjusted EBITDA ratio in the range of 2-3. Leverage may temporarily exceed the target range (for example, in conjunction with acquisitions).

Guidance 2025

Duell will continue its profitability improvement programme and plans to strengthen its capital structure in financial year 2024.

Markets have somewhat stabilised, but consumer sentiment remains fragile due to uncertainties. Duell expects the demand over the next 12 months to be slightly better than the comparison period, but there may be variations between product categories. The industry in which Dull operates remains relatively fragmented, which provides long-term opportunities and favours the larger players, of which Duell is one. Therefore, our guidance for financial year 9/2024-8/2025 is, that:

Duell expects that organic net sales with comparable currencies will be at the same level or higher than previous year.
Dull will continue to focus on improving profitability and expects adjusted EBITA to improve from last year's level.