Foxway release its Q1 2024 report
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In the first quarter of 2024, Foxway has strengthened its operations, driven cultural transformation, and effectively supplied circular tech services to European customers across its three business areas.
The Circular Workplace Solutions (CWS) area performed well, with increased demand for its services.
The Recommerce Mobile area saw increased revenue due to a 55% rise in mobile volumes, however declining margins for iPhones caused by unexpectedly low new prices.
The Recommerce Computers & Enterprise (C&E) area experienced strong demand for reused equipment, though overstock volumes declined.
Despite ongoing macroeconomic challenges, Q1 revenue grew by 3% to SEK 1.8 billion, with an adjusted operational EBITDA of SEK 35.6 million (1.8% margin).
“Foxway remains focused on operational efficiency, scalability, and cost management, with plans to expand its circular offerings in Europe and drive long-term shareholder value”, says Martin Backman, CEO of Foxway.
This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 23rd of May 2024.
For more information, please contact:
Martin Backman, CEO of Foxway
+46 708 64 42 22
martin.backman@foxway.com