Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Proact

Proact

Send subscription Close

Proact is the largest value-added reseller (VAR) of data storage in Europe. It tailor-makes storage solutions for companies with complex storage requirements. Sales consist of hardware and software sales of third-party products, consulting, support and cloud services.

Sustainability Information

For Proact’s traditional operations (system sales), the key risk comes from a potentially challenging outlook for the server/storage market given the shift towards cloud instead of local storage. For its cloud operations, there is the risk that some business will be lost to data centres and cheaper global cloud solutions.

Financials

SEKm 2025 2026e 2027e
Sales 4678,8 4830,58 4980,82
Sales growth (%) -3,8 3,2 3,1
EBITDA 383 494 522
EBITDA margin (%) 8,2 10,2 10,5
EBIT adj. 255 278 304
EBIT adj. margin (%) 5,4 5,7 6,1
Pretax profit 137 268 294
EPS 4,64 7,84 8,61
EPS growth (%) -43 69 9,8
EPS adj. 9,55 9,72 10,46
DPS N/A N/A N/A
Dividend per share 2,6 2,35 2,58
EV/EBITDA (x) 7,1 5,1 4,5
EV/EBIT adj. (x) 10,7 9,1 7,7
P/E (x) 22,2 13,14 11,96
P/E adj. (x) 10,8 10,6 9,9
EV/sales (x) 0,58 0,53 0,47
FCF yield (%) 1,4 10,6 14,5
Le. adj. FCF yld. (%) -4,7 5,3 9,2
Dividend yield (%) 2,5 2,3 2,5
Net IB debt/EBITDA (x) 0,1 -0,2 -0,6
Le. adj. ND/EBITDA (x) -0,8 -1,1 -1,5
SEKm 2025 2026e 2027e
Sales 4678,8 4830,58 4980,82
COGS -3572 -3686 -3785
Gross profit 1107 1145 1195
Other operating items -724 -651 -674
EBITDA 383 494 522
Depreciation and amortisation -151 -152 -155
of which leasing depreciation N/A N/A N/A
Depreciation on leased assets -165 -140 -140
EBITA 231,4 341,57 366,83
EO Items N/A N/A N/A
Operating EO items -84 0 0
Impairment and PPA amortisation N/A N/A N/A
Impairment and amortisation charges -61 -64 -63
EBIT 170,5 277,57 303,83
Net financial items -33 -10 -10
Pretax profit 137 268 294
Tax -15 -66 -72
Net profit 122 202 222
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders 122 202 222
EPS 4,64 7,84 8,61
EPS adj. 9,55 9,72 10,46
Total extraordinary items after tax -75 0 0
Leasing payments -165 -140 -140
Tax rate (%) 10,9 24,5 24,5
Gross margin (%) 23,7 23,7 24
EBITDA margin (%) 8,2 10,2 10,5
EBITA margin (%) 4,9 7,1 7,4
EBIT margin (%) 3,6 5,7 6,1
Pre-tax margin (%) 2,9 5,5 5,9
Net margin (%) 2,6 4,2 4,5
Sales growth (%) -3,8 3,2 3,1
EBITDA growth (%) -24,9 29 5,7
EBITA growth (%) -34 47,6 7,4
EBIT growth (%) -42,3 62,8 9,5
Net profit growth (%) -44,5 65,3 9,8
EPS growth (%) -43 69 9,8
Profitability N/A N/A N/A
ROE (%) 11 18,2 17,7
ROE adj. (%) 23,3 24 22,7
ROCE (%) 8,8 17,1 17,2
ROCE adj. (%) 17,9 21,1 20,8
ROIC (%) 21,4 24,3 26,5
ROIC adj. (%) 29,1 24,3 26,5
Adj. earnings numbers N/A N/A N/A
Year N/A N/A N/A
EBITDA adj. 467 494 522
EBITDA adj. margin (%) 10 10,2 10,5
EBITDA lease adj. 302 354 382
EBITDA lease adj. margin (%) 6,4 7,3 7,7
EBITA adj. 316 342 367
EBITA adj. margin (%) 6,7 7,1 7,4
EBIT adj. 255 278 304
EBIT adj. margin (%) 5,4 5,7 6,1
Pretax profit Adj. 282 332 357
Net profit Adj. 258 266 285
Net profit to shareholders adj. 258 266 285
Net adj. margin (%) 5,5 5,5 5,7
SEKm 2025 2026e 2027e
EBITDA 383 494 522
Goodwill 1296 1304 1312
Net financial items -33 -10 -10
Other intangible assets 177 122 68
Paid tax -103 -66 -72
Tangible fixed assets 74 107 137
Non-cash items -7 -60 0
Right-of-use asset 253 253 253
Cash flow before change in WC 240 358 440
Total other fixed assets N/A N/A N/A
Other Fixed Assets All 671 671 671
Change in working capital 135 -10 10
Fixed assets 2471 2457 2441
Operating cash flow 374 348 450
Inventories 24 24 25
Capex tangible fixed assets -46 -45 -45
Receivables 1465 1546 1594
Capex intangible fixed assets -2 -5 -5
Other current assets 0 0 0
Acquisitions and Disposals -289 -16 -16
Cash and liquid assets 458 595 782
Free cash flow 37 282 384
Total assets 4418 4622 4842
Dividend paid -64 -68 -61
Shareholders equity 1042 1176 1337
Share issues and buybacks 0 0 0
Minority 0 0 0
Leasing liability amortisation -165 -140 -140
Total equity 1042 1176 1337
Other non-cash items N/A N/A N/A
Other changes in net debt -166 64 4
Long-term debt 6 6 6
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 261 261 261
Total other long-term liabilities 1024 1024 1024
Short-term debt 211 211 211
Accounts payable 973 966 996
Other current liabilities 900 978 1006
Total liabilities and equity 4418 4622 4842
Net IB debt 21 -116 -303
Net IB debt excl. pension debt 21 -116 -303
Net IB debt excl. leasing -240 -377 -564
Capital employed 1521 1655 1816
Capital invested 1063 1060 1034
Working capital -384 -374 -384
Market cap. diluted (m) 2712 2654 2654
Net IB debt adj. 21 -116 -303
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 2733 2537 2350
Total assets turnover (%) 105,2 106,9 105,3
Working capital/sales (%) -6,8 -7,8 -7,6
Financial risk and debt service N/A N/A N/A
Year N/A N/A N/A
Net debt/equity (%) 2 -9,9 -22,7
Net debt / market cap (%) 0,8 -4,4 -11,4
Equity ratio (%) 23,6 25,4 27,6
Net IB debt adj. / equity (%) 2 -9,9 -22,7
Current ratio 0,93 1 1,08
EBITDA/net interest 11,5 49,4 52,2
Net IB debt/EBITDA (x) 0,1 -0,2 -0,6
Net IB debt/EBITDA lease adj. (x) -0,8 -1,1 -1,5
Interest coverage 50,5 83,9 90,2
SEKm 2025 2026e 2027e
Shares outstanding adj. 26 26 26
Diluted shares adj. 26 26 26
EPS 4,64 7,84 8,61
Dividend per share 2,6 2,35 2,58
EPS adj. 9,55 9,72 10,46
BVPS 39,59 45,64 51,9
BVPS adj. -16,36 -9,71 -1,67
Net IB debt/share 0,79 -4,52 -11,77
Share price 103 103 103
Market cap. (m) 2712 2654 2654
P/E (x) 22,2 13,14 11,96
EV/sales (x) 0,58 0,53 0,47
EV/EBITDA (x) 7,1 5,1 4,5
EV/EBITA (x) 11,8 7,4 6,4
EV/EBIT (x) 16 9,1 7,7
Dividend yield (%) 2,5 2,3 2,5
FCF yield (%) 1,4 10,6 14,5
Le. adj. FCF yld. (%) -4,7 5,3 9,2
P/BVPS (x) 2,6 2,26 1,98
P/BVPS adj. (x) -6,3 -10,61 -61,84
P/E adj. (x) 10,8 10,6 9,9
EV/EBITDA adj. (x) 5,9 5,1 4,5
EV/EBITA adj. (x) 8,7 7,4 6,4
EV/EBIT adj. (x) 10,7 9,1 7,7
EV/CE (x) 1,8 1,5 1,3
Investment ratios N/A N/A N/A
Year N/A N/A N/A
Capex/sales (%) -1 -1 -1
Capex/depreciation -3,4 4,2 3,3
Capex tangibles / tangible fixed assets 62,1 42,2 32,9
Capex intangibles / definite intangibles 1,2 4,1 7,3
Depreciation on intang / def. intang 0 0 0
Depreciation on tangibles / tangibles 18,88 11,26 10,98

Equity Research

Media

Proact - Fireside chat with President & CEO Magnus Lönn
Proact IT Group - Company presentation with CEO Magnus Lönn

View more media

Main shareholders - Proact

Main shareholders Share capital % Voting shares % Verified
Martin Gren (Grenspecialisten) 12.5 % 12.5 % 27 Mar 2026
Fidelity Investments (FMR) 8.4 % 8.4 % 31 Jan 2026
Proact IT Group AB 6.8 % 6.8 % 1 Apr 2026
Alcur Fonder 5.8 % 5.8 % 27 Mar 2026
Handelsbanken Fonder 5.6 % 5.6 % 31 Mar 2026
Avanza Pension 4.7 % 4.7 % 27 Mar 2026
Canaccord Genuity Wealth Management 3.5 % 3.5 % 27 Mar 2026
Livförsäkringsbolaget Skandia 3.0 % 3.0 % 27 Mar 2026
Polaris Management A/S 2.9 % 2.9 % 27 Mar 2026
Länsförsäkringar Fonder 2.9 % 2.9 % 27 Mar 2026
Source: Holdings by Modular Finance AB