Strong growth message
At last Friday’s CMD, Fortnox’s management team laid out its roadmap for sales growth over the next five years. The company’s stated goal of reaching 700,000 customers and an ARPC of SEK 300/month by 2025 (corresponding to a ‘19-25e sales CAGR of ~30%) strongly voices management’s confidence in the company’s ability to grow. This is particularly true given that the business plan features neither price hikes nor geographical expansion (although the latter was not ruled out). On the back of launching several new growth initiatives, including new product launches, enhanced partnerships and new services, Fortnox believes that it can improve its overall offering in such a fashion as to attract significantly more customers, users and usage of its products.
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