Karnov Group launches Acceleration Initiative for further customer value and improved profitability
Karnov Group AB (publ) is progressing ahead of plan in the Region South integration, and cost-synergies are being harvested as expected. The Board of Directors has today resolved to launch an Acceleration Initiative, with the ambition to accelerate the profitable growth strategy across the Group to achieve further customer value and improved profitability. The ambition is to achieve additional annual cost-efficiencies of EUR 10 m within the Group by the end of 2026.
“Karnov Group is driven by customer centricity, putting innovation and outstanding content in the centre of our business. Encouraged by the successful merger and synergies so far realised in Spain, we are now accelerating the integration to the rest of the Group. The Acceleration Initiative will enable Karnov Group to generate even greater customer value, while also advancing our profitable growth strategy”, comments Pontus Bodelsson, President and CEO of Karnov Group.
The Acceleration Initiative shall generate annual cost-efficiencies of EUR 10 m within the Group, with full effect on run-rate basis by the end of 2026. The cost-efficiencies are intended to be achieved from product rationalisation, process streamlining, consolidation of offices and harmonisation of IT infrastructure. The cost-to-achieve is expected to amount to EUR 14 m.
In parallel, the Region South integration, with the ambition of achieving annual cost-efficiencies of EUR 10 m with full effect on run-rate basis by the end of 2026 continues.
In total, Karnov Group has the ambition to achieve cost-efficiencies within the Group of EUR 20 m on a run-rate basis by the end of 2026.
For more information, please contact:
Pontus Bodelsson, President and CEO
Telephone: +46 709 957 002
Email: pontus.bodelsson@karnovgroup.com
Erik Berggren, Head of Investor Relations
Telephone: +46 707 597 668
Email: erik.berggren@karnovgroup.com
This press release contains inside information that Karnov Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication by the contact person above on 14 February 2024 at 08:45 CET.
Karnov Group clears the path to justice, providing mission critical knowledge and workflow solutions to European professionals in the areas of legal, tax and accounting, and environmental, health and safety. With content provided by over 7,000 well-renowned authors and experts, Karnov Group delivers knowledge and insights, enabling more than 400,000 users to make better decisions, faster – every day. With offices in Sweden, Denmark, Norway, France, Spain and Portugal, Karnov Group employs around 1,200 people. The Karnov share is listed on Nasdaq Stockholm, Mid Cap segment under the ticker “KAR”. For more information, please visit www.karnovgroup.com.