Esprinet SpA
MIL:PRT
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Esprinet SpA
Esprinet SpA is a holding company, which engages in the wholesale distribution of information technology products and consumer electronics. The company is headquartered in Vimercate, Monza E Brianza. The company went IPO on 2001-07-24. The company is organized in the geographical business areas of Italy and the Iberian Peninsula, which also represent the two Company’s operating segments. The Company’s customers include resellers, value-added resellers (VAR), system integrators, specialized stores, retailers and ecommerce portals. The firm supplies about 130,000 products of more than 650 manufacturers to about 31,000 customers, providing traditional wholesale sales services, logistics and financial services also through consumption-based sales models.
Esprinet SpA is a holding company, which engages in the wholesale distribution of information technology products and consumer electronics. The company is headquartered in Vimercate, Monza E Brianza. The company went IPO on 2001-07-24. The company is organized in the geographical business areas of Italy and the Iberian Peninsula, which also represent the two Company’s operating segments. The Company’s customers include resellers, value-added resellers (VAR), system integrators, specialized stores, retailers and ecommerce portals. The firm supplies about 130,000 products of more than 650 manufacturers to about 31,000 customers, providing traditional wholesale sales services, logistics and financial services also through consumption-based sales models.
Strong Q2 Performance: Esprinet delivered an excellent Q2 with 5% year-on-year sales growth and significant improvement in profitability, offsetting a weak Q1.
Profitability Recovery: EBITDA jumped 38% in Q2, driving H1 EBITDA up 2% to EUR 25.1 million, thanks to higher gross margins and strict cost control.
Optimistic Outlook: Management reports strong sales momentum in July, August, and early September, targeting the upper end of the EUR 63–71 million EBITDA guidance for 2025.
Portfolio Shift: The company continues to move away from low-margin, high working-capital businesses, focusing instead on high-margin Solutions, Services, and Green Tech segments.
Cost Discipline: SG&A growth normalized to 2% in Q2 after a 12% spike in Q1, with ongoing headcount reductions and tighter cost management.
Market Share Gains: Esprinet is outperforming competitors in key segments and winning market share, especially in higher-margin markets like V-Valley and Zeliatech.
Cautious Guidance: Despite strong Q3 trends, management keeps guidance unchanged due to ongoing portfolio rationalization and macro uncertainty.
