DUELLNasdaq HelsinkiAuto PartsIFRS · EUR

Duell Oyj

Duell Oyj is a Finnish import and wholesale company established in 1983, specializing in distributing parts and accessories for powersports, cycling, and small machinery across Europe. The company operates through a vast network of approximately 8,500 retailers and offers a product range of over 150,000 items from more than 500 brands. Duell has sales offices and warehouses in Finland, Sweden, the Netherlands, France, and the UK, and is listed on the Nasdaq First North Growth Market.

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Revenue127m EUR
+6.5 %y/y
Operating profit (EBIT)1.2m EUR
+12.8 %y/y
EBIT margin0.9%
+0.1 ppy/y
Net income-1.1m EUR
+59.7 %y/y
Free cash flow0.1m EUR
+108.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-2,00002,0004,0006,0008,000m EUR2021: 124 m EUR2021: EBIT 4.9 m EUR20212022: 35 m EUR2022: EBIT 7,282 m EUR20222023: 30 m EUR2023: EBIT -0.83 m EUR20232024: 119 m EUR2024: EBIT 1.0 m EUR20242025: 127 m EUR2025: EBIT 1.2 m EUR20251271.2
RevenueOperating profit (EBIT)
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Business

Share of revenue
Motorcycle Parts25 %

Includes parts and accessories for motorcycles.

Cycling Equipment20 %

Comprises cycling gear and accessories.

ATV/UTV Parts15 %

Covers parts for all-terrain and utility vehicles.

Snowmobile Parts15 %

Includes parts and accessories for snowmobiles.

Marine Equipment15 %

Comprises equipment for boating and marine activities.

Garden Machinery10 %

Includes parts for garden and forestry machinery.

Customers

Duell serves a diverse range of customers, primarily focusing on B2B relationships with retailers and specialty shops across Europe. Their customer base includes powersports retailers, cycling shops, marine equipment stores, and garden machinery outlets. Duell's extensive product range and established distribution network make it a preferred partner for retailers seeking reliable supply and comprehensive product offerings. The company also supports traditional retail stores in transitioning to e-commerce, enhancing their market reach.

Powersports Retailers

Buy parts and accessories for motorcycles, ATVs, and snowmobiles to meet customer demand.

Cycling Shops

Purchase cycling equipment and accessories to offer a comprehensive selection to cyclists.

Marine Equipment Stores

Require marine parts and accessories for boating enthusiasts.

Garden Machinery Outlets

Need parts for garden and forestry machinery to serve landscaping professionals.

Strategy

Duell's strategic priorities include geographic expansion, enhancing its e-commerce capabilities, and optimizing its brand portfolio. The company aims to grow organically and through acquisitions in new and existing markets. Duell is focused on becoming the preferred wholesale partner for retailers and brand owners across Europe by offering a comprehensive product range and superior service. The strategy also involves supporting traditional retailers in their transition to online sales.

Geographic ExpansionMedium term

To increase market share in underrepresented regions.

E-commerce EnhancementShort term

To support the shift towards online retail.

Brand Portfolio OptimizationLong term

To offer products that meet diverse market needs.

Geography

Duell has a strong presence in the Nordic countries and is expanding its operations in Central Europe. The company operates sales offices and warehouses in Finland, Sweden, the Netherlands, France, and the UK. The Nordic region accounts for a significant portion of revenue, but Central Europe is a key growth area. Duell's strategic focus on geographic expansion aims to increase market share in regions where it currently has a lower presence.

Risks

Duell faces several risks, including market uncertainty and fluctuating consumer confidence, which can impact demand for discretionary products. The company is also exposed to competitive pressures from both large international distributors and local players. Regulatory compliance across multiple jurisdictions adds complexity to operations. Additionally, economic downturns can affect consumer spending on non-essential goods, impacting sales volumes.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market Uncertainty1Competitive Pressures2Regulatory Compliance3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market UncertaintyImpact: HighLikelihood: High

    Fluctuating consumer confidence can reduce demand.

  2. Competitive PressuresImpact: MediumLikelihood: High

    Strong competition from large distributors.

  3. Regulatory ComplianceImpact: MediumLikelihood: Low

    Complex regulations across jurisdictions.

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Accounting

Judgemental items
Revenue Recognition

Timing affects reported sales and profitability.

Lease Accounting

IFRS 16 impacts reported liabilities and financial position.

Inventory Valuation

Affects asset values and cost of goods sold.

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Last updated: 24/09/2026