Dustin

What Dustin does

Dustin Group AB (publ) is a Stockholm-listed (Nasdaq Stockholm: DUST, since February 2015) online IT partner headquartered in Nacka Strand, Sweden. Founded in 1984, the company serves approximately 280,000 IT products and services through six country-specific B2B e-commerce platforms across Sweden, Norway, Denmark, Finland, the Netherlands, and Belgium, supported by a centralized fulfillment center in Rosersberg. Its offering spans hardware, software and SaaS, managed and cloud services, lifecycle services (pre-configuration, takeback, refurbishment, secure data erasure, recycling), and equipment financing/leasing, with the latter segments positioned to grow recurring revenue toward a stated ~SEK 1.5 billion managed-services target.

Dustin operates two reportable segments: SMB (small and medium-sized businesses up to 500 employees, served primarily via self-serve e-commerce) and LCP (large corporates and the public sector, served via dedicated relationship sales teams managing tenders, frameworks, and account cultivation). Net sales for FY2024/25 were SEK 20.4 billion against a SEK 260+ billion addressable market in Nordics and Benelux, with roughly 25% of that market transacting online today. Q2 2025/26 returned to 4.4% organic growth and net debt/EBITDA fell to 2.7x (from 5.7x), following a rights issue in 2025 and leadership changes including a new CEO (Samuel Skott, 2025) and CTO (Monika Gullin, April 2026).

Revenue is generated through a mix of hardware product resale (largest share), software/SaaS subscription resale, managed and cloud services, and financing/leasing transaction fees. The customer base exceeds one million cumulative takeback interactions, indicating a broad installed base; key institutional shareholders historically include Axel Johnson AB. Sustainability positioning is a deliberate differentiator, anchored by an EcoVadis Platinum rating (2025) and product-level CO2e lifecycle data across production, transport, use, and end-of-life stages.

Name

Dustin

Legal name

Dustin Group AB (publ)

Website

http://www.dustingroup.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Dustin is a Stockholm-listed online IT partner serving SMBs, large corporates, and the public sector across the Nordics and Benelux via six country-specific B2B e-commerce platforms carrying approximately 280,000 hardware, software, services, and lifecycle offerings.

Ownership category

akta.pro rank

Headquarters

HQ city

Nacka

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Hardware product sales: Sale of hardware (computers, phones, accessories, networking equipment, and infrastructure) to SMB, large corporate, and public sector customers through online platform and relationship sales. Represents the largest share of net sales.
2. Software and SaaS sales: Sale and resale of software licenses and subscriptions, increasingly packaged as SaaS (Software as a Service). Provides recurring revenue from subscription-based software products.
3. Services, solutions and managed services: Includes standardized services (often subscription-based for flexibility and cost control), managed and cloud-based services, mobility services, and operational solutions. Services provide increased flexibility and contribute to reduced climate impact. Dustin targets managed and cloud services to generate ~SEK 1.5 billion in recurring revenues.
4. Financing and leasing solutions: For most companies, using IT equipment generates more value than owning it. Dustin offers financing solutions so that customers can lease their equipment, creating additional revenue and customer stickiness.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Dustin is a leading online-based IT partner in the Nordics and Benelux that resells approximately 280,000 IT hardware and software products and provides related services to small and medium-sized businesses, large corporates, the public sector, and consumers. Its offering spans hardware, software and SaaS, managed services, lifecycle services (pre-configuration, installation, takeback, refurbishment, secure data erasure, and recycling), and financing/leasing solutions, distributed primarily through six country-specific B2B e-commerce platforms supplemented by a relationship sales organization.

Product overview

Dustin is a leading online-based IT partner in the Nordics and Benelux operating through two core business segments: SMB (Small and Medium-sized Businesses) and LCP (Large Corporate and Public sector). The SMB platform targets businesses with up to 500 employees, providing a complete offering of hardware, software, services, and solutions with related support. The LCP platform serves larger companies and the public sector primarily with hardware, software, and product-related services. The product portfolio includes physical IT hardware (computers, phones, accessories), software and SaaS solutions, managed services, lifecycle services (pre-configuration, installation, take-back, refurbishment, repair, data erasure, recycling), financing/leasing solutions, and Circular IT services. Approximately 280,000 products with associated services are offered to businesses, public sector, and individuals.

Differentiator

Problem solved

Functional benefit

Products and services

• SMB Platform Online IT platform serving small and medium-sized businesses with up to 500 employees, offering a complete selection of hardware, software, services, and solutions with associated support and digital advisory tools.
• LCP Platform Platform serving large corporate customers with more than 500 employees and the public sector, primarily offering hardware, software, and product-related services through procurement processes, tenders, and framework agreements.
• Hardware Products Broad range of IT hardware including computers, phones, cables, networking equipment, and infrastructure selected to meet SMB and enterprise needs across the Nordics and Benelux.
• Software and SaaS Solutions Software offerings increasingly packaged as software-as-a-service (SaaS), including operational solutions for cost-efficient IT environments, mobility services, and subscriptions providing recurring revenue and user flexibility.
• Managed Services Customer-focused managed and cloud-based services providing flexible IT support, including standardized services offered on a subscription basis for cost control and operational reliability.
• Lifecycle Services Pre-configuration and installation, takeback of used IT equipment, refurbishment and repair, secure data erasure, and responsible recycling, supported by product-level CO2e lifecycle data across production, transport, use, and end-of-life stages.
• Financing Solutions Equipment leasing and financing options that allow customers to use IT equipment without owning it, providing greater flexibility, cost control, and customer stickiness.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Atea ASA: Largest Nordic IT infrastructure and services provider, directly competing with Dustin across hardware, software, and managed services in the same Nordic geographies. Closest comparable in customer segments and go-to-market model.
• Bechtle AG: Leading European IT reseller and managed services provider headquartered in Germany, with a comparable online-plus-field-sales model and similar SMB/enterprise mix. Closely comparable on business model and product breadth.
• Computacenter plc: UK-listed enterprise IT reseller serving large corporate and public-sector customers across Europe with a similar combination of hardware distribution and managed services.
• ALSO Group: DACH-headquartered IT distribution and services company combining traditional wholesale logistics with cloud, platform, and subscription services — highly comparable business architecture to Dustin.
• Copaco: Benelux-based IT value-added distributor of hardware, software, and cloud services; directly competes with Dustin's Centralpoint business in Netherlands and Belgium and shares the same SMB/enterprise segmentation.

Broad incumbents

• TD SYNNEX: Global IT distribution and solutions aggregator formed via the Tech Data–SYNNEX merger, offering overlapping products but at much greater global scale and a broader vendor portfolio.
• Ingram Micro: World's largest IT distributor offering the full hardware/software/services portfolio; competes with Dustin indirectly through global vendor relationships and channel programs.
• Arrow Electronics: Global technology distributor covering enterprise computing, with broad overlap in IT hardware and software distribution but at much larger scale and with deeper enterprise/VAR focus.

Regional players

• Westcoast: UK's largest independent IT distributor with similar product breadth and reseller-focused channel model; serves as a regional analogue but does not directly overlap Dustin's Nordic/Benelux footprint.

Others

• Lyreco: European B2B workplace and office supplies distributor with comparable SMB field-sales catalog model; not a direct IT competitor but shares customer overlap and European SMB procurement motion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/dustinsverige
• LinkedInlinkedin.com/company/dustin-ab
• Xx.com/dustingroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dustin