Sweden's Karnov Q1 organic growth rises, margin improves

Karnov AB (publ)

06/05/2026 06:55

Overview

Sweden legal content provider's Q1 net sales declined yr/yr, but organic growth reached 3.2%

Adjusted EBITA margin improved to 28.6% from 26.0% on operational leverage and cost control

Company repurchased close to 10% of shares during the quarter

Outlook

Company plans to launch content-driven workflow tools this summer, targeting legal professionals

Result Drivers

ONLINE SALES GROWTH - Organic online growth of 4.8% driven by all markets, with 11% growth in Denmark and Sweden LIS businesses

COST CONTROL AND PRODUCT MIX - Adjusted EBITA margin improvement attributed to operational leverage, beneficial product mix and cost control

Company press release: ID:nWkr7FNCC9

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
SEK 59 mln
Q1 Adjusted EBITA
SEK 180 mln
Q1 Adjusted EBITA Margin
28.60%
Q1 Organic Growth
3.20%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the professional information services peer group is "buy"

Wall Street's median 12-month price target for Karnov Group AB (publ) is SEK100.00, about 46.6% above its May 5 closing price of SEK68.20

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 34 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)