Fortnox AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023
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Fortnox AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was SEK 416 million compared to SEK 332 million a year ago. Revenue was SEK 424 million compared to SEK 339 million a year ago. Net income was SEK 149 million compared to SEK 112 million a year ago. Basic earnings per share from continuing operations was SEK 0.24 compared to SEK 0.18 a year ago. Diluted earnings per share from continuing operations was SEK 0.24 compared to SEK 0.18 a year ago.
For the nine months, sales was SEK 1,191 million compared to SEK 919 million a year ago. Revenue was SEK 1,215 million compared to SEK 934 million a year ago. Net income was SEK 382 million compared to SEK 253 million a year ago. Basic earnings per share from continuing operations was SEK 0.63 compared to SEK 0.41 a year ago. Diluted earnings per share from continuing operations was SEK 0.63 compared to SEK 0.41 a year ago.
Fortnox AB is a Sweden-based company, which offers Internet-based business applications for companies, associations, as well as accounting and auditing firms. The Companyâs product portfolio includes programs for accounting, billing, sales support and payroll, such as Fortnox Accounting, Fortnox Invoicing, Fortnox order, Fortnox Archive, Fortnox Time and Fortnox CRM, as well as other programs. The Companyâs services allow its users to access the applications thorugh the Internet and be logged in simultaneously from multiple locations. As of December 31, 2011, the Companyâs three largest shareholders were Karlo Forvaltnings AB (10.45%), Banque Ohman S.A. (6.45%) and Nordea Life & Pensions (5.8%).