Interim Report Q2: Navigating Headwinds While Building for Growth

Interim Report January – June 2025

April – June

• Net sales amounted to SEK 1,861.7 million, a decrease of 8.6%. In constant currency the decline was 5.2%.
• Adjusted EBITDA amounted to SEK 118.4 million, corresponding to an adjusted EBITDA margin of 6.4%.
• Adjusted operational EBITDA amounted to SEK 24.5 million, corresponding to a margin of 1.3%.
• Operating profit/loss (EBIT) amounted to SEK -15.0 million, corresponding to an EBIT margin of -0.8%.
• Cash flow from operating activities was SEK -99.3 million, which included non-recurring cost items of SEK 15.1 million.

January  – June

• Net sales amounted to SEK 3,587.6 million, a decrease of 7.0%. In constant currency the decline was 5.3%.
• Adjusted EBITDA amounted to SEK 258.7 million, corresponding to an adjusted EBITDA margin of 7.2%.
• Adjusted operational EBITDA amounted to SEK 60.1 million, corresponding to a margin of 1.6%.
• Operating profit/loss (EBIT) amounted to SEK -19.1 million, corresponding to an EBIT margin of -0.5%.
• Cash flow from operating activities was SEK -247.8 million, which included non-recuring cost items of SEK 37.1 million.

Significant Events During The Quarter

• Foxway strengthens its leadership team by appointing Suvi Ruoppa as new Chief Strategy Officer (CSO).
• Foxway appoints Carl-Fredrik Lidman as President, Circular Workspace Solutions, tasked with driving growth and deepening customer relationships.
• Foxway appoints Steinar Aune as President, Recommerce Computer & Enterprise, with proven operational and commercial leadership.
• Foxway expands its Device as a Service offering to provide transparent environmental data and support longer device lifecycles, aligning with growing ESG demands.
• Foxway is expanding its collaboration with Apple by becoming an Apple Authorised Education Specialist
• Foxway strengthens strategic partnerships with several OEMs as a certified refurbisher, enhancing its end-to-end presence in the reuse value chain.
• Foxway achieves top score in Nordic Capital’s sustainability review, outperforming both portfolio and industry benchmarks.
• Foxway receives the Circular Economy Leadership Award and Sustainability Individual Champion Award (Chief Impact Officer) at the Lenovo 360 Circle Awards.
• Foxway hosts a seminar on sustainable tech during Almedalen Week and introduces a forthcoming guide to help public sector buyers evaluate IT solutions through a sustainability lens.

Significant Events After The Quarter

• Foxway announces a major 10,000 m² expansion at its Estonian site, significantly expanding capacity and enabling more efficient, traceable circular solutions.

Patrick Höijer, CEO, Comments:

”As I mark my first year as CEO of Foxway, I am proud of the foundation we have built for profitable growth. Over the past twelve months, we have sharpened our strategy, strengthened our leadership team, and enhanced operational efficiency across the Group. While Q2 results reflected market headwinds, the fundamentals of our business remain strong: new customer contracts are ramping up, scale investments are advancing, and our execution capacity is stronger than ever. Entering the seasonally stronger second half of the year, we move forward with confidence and purpose, continuing to advance toward our 2028 ambition and shaping a more circular, sustainable electronics industry at scale.”

Read the report

This information is information that Foxway Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 28th of August 2025.

For more information, please contact:

Patrick Höijer, CEO of Foxway
Patrick.hoijer@foxway.com

Anders Wallin, CFO of Foxway
Anders.wallin@foxway.com

About Foxway
Foxway Holding AB (publ) is a leading European provider of circular tech services, specializing in sustainable technology solutions that extend the lifecycle of tech devices. Backed by Nordic Capital as the owner, Foxway is well-positioned for strong future growth. Headquartered in Sweden, the company operates across Europe and serves customers in over 100 countries. The innovative business model aligns with increasing global demands for sustainability and digitalization. Foxway has a publicly traded bond on Nasdaq Stockholm.
Read more on www.foxway.com.

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