Fortnox Q3’20 review: 2021 EBIT forecast raised by 13% due to lowered OPEX estimates

Research Note

2020-10-23

07:20

Redeye remains positive following a predominantly solid Q3 with solid cost control, robust customer intake, and slightly weaker ARPC than we expected. We have increased our EBIT forecasts for 2021 and the long-term – mainly as we lower our OPEX forecasts – and raise our Base case.

FN

Fredrik Nilsson

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