Foxway reported net sales of SEK 1,814.2 million (€ 159.5 million) for Q4 2024, a decrease of 7.5% compared to the same period in 2023. Organic growth for the quarter stood at -8.3%. Adjusted EBITDA reached SEK 196.3 million (€17.3 million), with an adjusted EBITDA margin of 10.8%. Operational EBITDA was SEK 87.1 million (€7.7 million), representing a 4.5% margin. Operating profit (EBIT) for the quarter was negative at SEK -7.3 million (€-0.6 million), translating to an EBIT margin of -0.4%. Despite the revenue drop, cash flow from operating activities remained positive at SEK 45.4 million (€4.0 million). Reported loss for the 4th quarter was SEK 48.9 million (€ 4.38 million. Earlier, SecondaryMarket.news, citing an analysis from Finsur, reported that most major European players in the secondary market were experiencing financial difficulties— and Foxway appears to be no exception. In general for the whole market, trade-in prices are rising while resale prices remain stable, squeezing margins. This trend is expected to continue, further straining the financial health of the European secondary market.
Full-year figures show overall growth
For the full year 2024, Foxway achieved net sales of SEK 7,804.6 million (€ 686.5 million), reflecting an annual increase of 6.1%. Organic growth was 5.6%. Adjusted EBITDA amounted to SEK 686.1 million (€ 60.4 million), with a margin of 8.8%. Operational EBITDA stood at SEK 303.4 million ( €26.7 million), equating to a 3.6% margin. EBIT for the full year was SEK 60.5 million (€ 5.3 million), corresponding to an EBIT margin of 0.8%. Operating cash flow remained robust at SEK 292.1 million (€ 25.7 million), supporting Foxway’s continued investment in growth and circular technology. Over 2024 Foxway reported a net loss of SEK 230.2 million (€ 20. 6 million).
Key Q4 events highlight strategic moves
In Q4, Foxway entered a strategic partnership with Tele2 to address the rising demand for circular tech solutions. The company also appointed Peter Strömberg as its new Chief Digital Officer and launched a new sustainability website to enhance transparency and thought leadership in circularity.
Foxway received the Excellence in Client Sales award at the Dell Partner Awards, recognizing its commitment to delivering top-tier solutions. Additionally, the company relocated its offices in Malmö, Gothenburg, and Stockholm, optimizing for better collaboration, security, and cost efficiency.
Foxway played a key role at major industry events, including a keynote speech on greenwashing in the circular economy at Techarenan Zero in Stockholm on October 23. The company also contributed to four sustainability discussions at Web Summit in Lisbon on November 13.
Major developments after Q4
Following the quarter’s end, Foxway became the first company in Europe to partner with HP for premium refurbished computers under the HP Certified Licensing Partner Program. This move solidifies Foxway’s leadership in sustainable IT solutions. Additionally, the Foxway Learning Academy launched a webinar series to educate the IT industry on circularity, reinforcing the company’s commitment to sustainability and innovation.
CEO Patrick Höijer’s outlook for 2025
Reflecting on the year, CEO Patrick Höijer emphasized the company’s progress: “The fourth quarter of 2024 marks the end of a transformative year for Foxway and the beginning of an exciting new chapter. Despite short-term challenges, we have strengthened our market position, optimized costs, and set a clear strategic direction through 2028. In 2025, Foxway will continue leading the circular tech industry with a strong focus on transparency and delivering truly sustainable solutions.”
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