Fortnox: Steady Growth and Strengthened Tech Team
Research Update
2024-04-26
06:45
Redeye takes a positive stance towards Fortnox following an overall solid Q1 report and the negative share price reaction. While the high net recruitment hurts EBIT short-term, Fortnox has grown with limited employee increases for the last two years, and R&D investments are key to long-term growth. Also, we see no reason to worry about the sharp increase in NWC, driven by the easter and the growing finance segment. We leave our Base Case and sales forecasts roughly unchanged while decreasing our short-term EBIT forecasts.
Fredrik Nilsson
Mark Siöstedt
A Window to Unparalleled Insight
When markets twist and turn, And the world of stocks feels stern, You need a voice, bold and wise, To cut through clouds, reach the skies. Redeye Premium, a beacon so bright, Guides you through the thickest night. Insight crafted, deep and clear, For investors far and near.
Where others halt, we delve deep, Exploring valleys most don’t keep. With each analysis, sharp and grand, We put knowledge in your hand. The stocks you watch, the trends you chase, Our insight keeps you in the race.
Not just a whisper in the breeze, But research built from endless seas. In every sector, niche, and trend, Our analysts search, they never bend. Redeye Premium’s thoughtful lore, Is data-backed, and so much more.
Beyond the surface of the trade, We tell you where the gold is laid. Unlock the gates to deeper wealth, With Redeye Premium, a touch of stealth. For every question, every dream, Our research is the silent beam.
Strategic Long-Term Picks
The markets dance, the prices sway, But real wealth grows in a steady way. Redeye Premium picks with care, A long-term vision, true and rare. We seek the gems that others miss, In trends and shifts, the stock market's bliss.
Where will the future shine its light? Which companies will reach new height? Our choices come from seasoned eyes, Strategic moves that make you rise. For those who plan to stand and stay, Redeye Premium points the way.
Events that Enrich and Enlighten
In a room filled with the best, Where knowledge thrives and minds invest, Redeye Premium opens doors, To events that teach, inspire, and more. Conferences with the sharpest minds, Workshops where true wisdom finds.
You won’t just read or sit on the side, You’ll engage, explore, and be the guide. From market trends to deep insight, Our events enrich both day and night. Come join the thought leaders here, Premium access makes it clear.
| Table Heading | |||||
|---|---|---|---|---|---|
| Net Sales | 1.33 B | 1.38 B | 837.71 M | 837.71 M | 832.82 M |
| Revenue | 5.482 | 7.246 | 8.123 | 9.654 | 9.123 |
| Net Sales Growth | 123 | 235 | 5435 | 123 | 321 |
| EBIT | 123 | 235 | 5435 | 345 | 345 |
| EBIT Margin | 123 | 235 | 5435 | 23 | 23 |
| DIVIDER | |||||
| Net Income | 123 | 235 | 5435 | 45 | 56 |
Peace of Mind in the Journey Ahead
At the end of day, beyond the chase, What matters most is a steady pace. Redeye Premium, your guiding star, Protects your path, near and far. With all the tools you need to grow, To navigate the ebb and flow.
No second-guessing, no lost dreams, You move ahead on steady streams. For peace of mind, with every choice, Redeye Premium is your voice. A trusted guide, a loyal friend, All the way until the end.
So, why delay? Why wait or ponder? Redeye Premium is your answer, yonder. With every feature, tool, and guide, Step into success with pride. Invest not just in stocks, but in you, With Redeye Premium—your dreams come true.
Upgrade and get full access to .
Gain complete access to ’s insights, verified by our analysts’ to keep you informed.
Why is this company behind paywall?
Disclosures and disclaimers