Risks related to global COVID-19 pandemic
The current COVID-19 pandemic is expected to affect all global markets. Karnov is following the situation on continuously basis. Karnov operates in the legal and tax professional markets in Denmark and Sweden. These markets encompass, among other things, online information database services, printed information sources, legal practice management software and legal training courses. The products and services are generally offered to law firms, tax and accounting firms, corporates in a wide range of industries and the public sector, including courts, libraries, universities and other public authorities and municipalities.
The nature of the market and the products offered in combination with Karnov’s business model with approximately 85% subscription-based revenue Karnov assess that the virus pandemic will have no impact on online revenue on a short-term basis. For the remaining 15% of revenues which is Karnovs non-subscription based offline business, mainly books and sales of legal training courses, it is expected that the virus pandemic will have some effect on a short-term basis. However, the effect is expected to be non-significant which to some extend will be offset by timing during later periods.
For more information, please contact:
Flemming Breinholt, CEO
+45 3374 1202
flemming.breinholt@karnovgroup.com
Dora Brink Clausen, CFO
+ 45 3374 1248
dora.brink.clausen@karnovgroup.com
Mats Ödman, Head of IR
+46 70 832 09 33
This information was submitted for publication on 26 March 2020, at 3.00 p.m. CET.