Foxway reports decreasing sales but remains positive on future

Foxway reported net sales of € 311.4 million for January to June 2025, a decrease of 7% compared with the same period last year. In constant currency, the decline was 5.3%. Adjusted EBITDA reached € 22.5 million, equal to a margin of 7.2%. Adjusted operational EBITDA stood at €5.2 million, with a margin of 1.6%. Operating profit (EBIT) amounted to € -1.7 million, reflecting a margin of -0.5%. Last year Foxway’s operation profit came out € -1.1 million in the same period. So, this year only a marginal higher. Cash flow from operating activities was € -21.5 million, which included non-recurring costs of € 3.2 million. While financial headwinds weighed on performance, Foxway continued to build capacity and strengthen its long-term positioning in the circular technology market.

Strengthening leadership for future growth

During the first half of 2025, Foxway expanded its leadership team. Suvi Ruoppa was appointed Chief Strategy Officer to support the company’s long-term ambitions. Carl-Fredrik Lidman took on the role of President of Circular Workspace Solutions, focusing on growth and customer engagement, while Steinar Aune became President of Recommerce Computer & Enterprise, bringing operational and commercial expertise.

CEO Patrick Höijer noted that these appointments are part of Foxway’s broader strategy to sharpen its focus and enhance execution capabilities. He emphasized that while Q2 results reflected market headwinds, the company remains on track toward its 2028 ambition.

Expanding circular technology offerings

Foxway expanded its Device as a Service offering, now providing transparent environmental data to customers and supporting longer device lifecycles. This expansion is designed to align with increasing ESG requirements from public and private sector buyers. The company also strengthened its role as a certified refurbisher by deepening partnerships with OEMs. Importantly, Foxway expanded its collaboration with Apple by becoming an Apple Authorised Education Specialist, further cementing its presence across the reuse value chain.

Recognition for sustainability leadership

Foxway received multiple recognitions for its sustainability initiatives. The company was awarded the Circular Economy Leadership Award and the Sustainability Individual Champion Award (Chief Impact Officer) at the Lenovo 360 Circle Awards. Additionally, Foxway achieved the top score in Nordic Capital’s sustainability review, outperforming both portfolio and industry benchmarks.

Preparing for second half expansion

After the quarter, Foxway announced a major 10,000 m² expansion of its Estonian facility. The investment will significantly increase capacity and improve traceability for its circular solutions. CEO Patrick Höijer reflected on his first year leading Foxway, highlighting progress in strategy, operational efficiency and execution strength. He stated that the company enters the second half of 2025 with confidence, expecting stronger seasonal demand and continued momentum in building a more circular, sustainable electronics industry.