Fortnox AB

Latest Results (03.10.2025):

Fortnox AB reported strong financial performance in the first quarter of 2025, demonstrating significant growth in net sales, operating profit, and earnings per share. The company achieved its financial targets and continued to expand its customer base, reflecting its robust business model and strategic initiatives.

Net Sales

Net sales for Fortnox AB reached SEK 563 million in Q1 2025, marking a 21% increase from SEK 467 million in the same period last year. This growth was driven by a substantial SEK 96 million rise, primarily attributed to a 25% organic growth rate.

Operating Profit (EBIT)

Operating profit (EBIT) improved significantly to SEK 246 million compared to SEK 185 million in Q1 2024, representing a 33% increase. The EBIT margin also expanded to 44% from 40% year-over-year.

Profit After Tax

Profit after tax for the quarter was SEK 210 million, up from SEK 149 million in the first quarter of the previous year. This increase underscores Fortnox AB’s effective cost management and revenue growth strategies.

Earnings per Share

Earnings per share before and after dilution rose to SEK 0.34 in Q1 2025 from SEK 0.24 in Q1 2024, reflecting a 41% improvement. This growth highlights the company’s enhanced profitability.

Subscription Customers

The number of subscription customers increased by 10%, reaching 612,000 in Q1 2025 compared to 556,000 in the same quarter last year. This growth indicates a strong market demand for Fortnox’s services.

Cash Flow and Free Cash Flow

Cash flow from operating activities surged to SEK 149 million, up 264% from SEK 41 million in Q1 2024. Free cash flow also saw a substantial increase to SEK 171 million, a 57% rise from SEK 109 million.

Public Offer

On March 31, a consortium led by EQT X and First Kraft AB announced a public offer through Omega II AB for Fortnox AB’s shareholders. Fortnox’s Board of Directors unanimously recommended that shareholders accept the offer.