ALSO Due Diligence

Run due diligence on ALSO: check compliance and get alerts when suppliers change.

Switzerland · www.also.com · 29 vendors

ALSO Holding AG is a leading technology provider for the Information and Communication Technology (ICT) industry, operating as a comprehensive B2B marketplace. The company offers hardware, software, IT services, and cloud solutions from over 800 vendors to approximately 140,000 resellers. It is active in 31 European countries and extends its reach globally through Platform-as-a-Service (PaaS) partners.

Resilience scores

Technology vendors

Services catalogue

5 services in catalogue across 3 categories; runs on 29 sub-vendors.

Insights

Last updated 2026-07-22 · revision 7

29 direct vendors, 260 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

9 in-scope frameworks identified; showing 3.

ISAE 3000 (source) — No public evidence

Evidence: https://www.iaasb.org/publications/international-standard-assurance-engagements-isae-3000-revised-assurance-engagements-other-audits-or, https://www.also.com

ISO 27001 (source) — Evidence found

Evidence: https://www.iso.org/isoiec-27001-information-security.html, https://www.also.com

Cyber Resilience Act (source) — No public evidence

Evidence: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202402847, https://digital-strategy.ec.europa.eu/en/policies/cyber-resilience-act

Financials

Three-year financials

Financial Resilience Score: 7/10

ALSO Holding AG demonstrates solid financial resilience underpinned by its scale as one of Europe's top-three IT distributors, giving it strong purchasing power with major vendors like Microsoft, HP, Lenovo, Apple, Cisco, and Dell. The company has diversified its business model across three segments—Supply (traditional distribution), Solutions (project business), and Service (cloud/subscription)—with the higher-margin Service segment providing recurring revenue that cushions cyclical hardware demand. The balance sheet is solid with an equity ratio historically around 20-25%, investment-grade credit metrics, and positive free cash flow enabling tuck-in M&A funded partly from operations. However, resilience is constrained by structurally thin distribution margins (EBIT margin ~1.5-2.0%), making the business vulnerable to small pricing or FX shifts. The 2022-2023 period saw mid-single-digit revenue declines due to post-pandemic normalization of PC/notebook demand and lower component prices, though EBITDA held up thanks to a richer mix. The controlling stake by Droege Group (~52%) provides stability but concentrates governance and limits minority influence. Overall, the company has proven able to weather the post-pandemic downturn while continuing strategic M&A like the Westcoast France acquisition.

Key strengths: Top-three European IT distributor scale with strong vendor purchasing power, Diversified three-model business (Supply/Solutions/Service) with growing recurring cloud revenue, Equity ratio historically 20-25% with investment-grade credit metrics, Positive free cash flow funding M&A and dividends, Anchor shareholder Droege Group (~52%) provides stability, Growing dividend with payout ratio typically 30-50%

Risk factors: Thin distribution margins (~1.5-2.0% EBIT) amplify pricing and FX moves, Cyclicality tied to consumer PC/smartphone and IT capex cycles, Currency exposure across EUR, CHF, Nordic currencies, PLN and others, Vendor concentration with reliance on a few large vendors and rebate structures, M&A integration risk from ongoing acquisitions like Westcoast France, Limited free float and minority influence due to Droege's controlling stake

Revenue by geography

Revenue by product/service

Workforce by country

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