Annual rank36
Sweden · Industrials
Karnov Group
Provides European professionals with knowledge and workflow solutions in legal, tax, accounting, environmental, health and safety fields.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
From legal publishing to connected professional workflows
Karnov Group turns legal publishing and specialist commentary into subscription platforms and workflow tools used by more than 400,000 users. Its national businesses—Karnov in Denmark, Norstedts Juridik in Sweden, Aranzadi LA LEY in Spain, Jusnet in Portugal and Lamy Liaisons in France—combine local legal information with search, compliance, document and AI workflows. DIBkunnskap extends the group into Norwegian tax and accounting workflows. More than 7,000 experts support the group, which reports offices in Sweden, Denmark, Norway, France, Spain and Portugal.
Platforms and geography
Local legal systems sit inside a six-country group
Karnov's products are organised around local jurisdictions and professional practice. Karnov serves Denmark, Norstedts Juridik Sweden, Aranzadi LA LEY Spain, Lamy Liaisons France and Jusnet Portugal; DIBkunnskap supplies Norwegian tax and accounting workflows, while BELLA supports bankruptcy-estate work in Denmark. The issuer reports offices in Sweden, Denmark, Norway, France, Spain and Portugal and offers research, learning, news, templates, valuation and workflow services.
- See Karnov Group in brief More than 400,000 users, over 7,000 specialists and the six-country office footprint
- Meet the national brands Legal publishing, research and workflow businesses across local markets
- Locate Jusnet in Portugal The issuer's mapping of Aranzadi LA LEY, Jusnet and Lamy Liaisons to Spain, Portugal and France
- Explore the solution portfolio Research, learning, current awareness and professional workflow tools
- Read the purpose and ambition Content quality, user experience and workflow efficiency
Editorial and practitioner workflows
Expert interpretation continues into document review
In Region North, Karnov says its platforms combine public sources with proprietary commentary from more than 1,500 Nordic experts; groupwide, it reports more than 7,000 authors and specialists. This knowledge also enters document workflows. DIB's dflow can place reviewers in a fixed sequence, let them edit or approve documents and send the approved version onward for signature. The combination joins maintained interpretation with an accountable review path.
- See sources meet expert commentary Page 27: public sources, proprietary commentary and content-driven digital tools in Region North
- Meet the groupwide specialist network How authors and experts interpret legal change
- Review and approve in dflow Ordered editing and approval before documents move to signature
AI and digital workflows
Four local products connect source, reasoning and delivery
Allegra Flow, JUNO Flow, KAILA Flow and LamyLia Connect take users from assignment analysis and planning through research and document production. Matter files, work plans, sources and drafts remain connected; Karnov calls the provenance chain the Validity Chain. Page 29 of the 2025 annual report profiles Advokatbyrån Kaiding: in an expropriation matter, a lawyer asked JUNO AI to criticise his submission and identify weaknesses in his reasoning about an atypical compensation claim. The English Capital Markets Day webcast adds official group, AI and regional strategy sessions.
- Explore the four AI workflow products Allegra Flow, JUNO Flow, KAILA Flow and LamyLia Connect
- See the municipal caseworker solution Local regulations and expert-authored content in one workflow
- Read Kaiding's JUNO AI case Page 29: testing the reasoning in an expropriation submission
- Read the exact event agenda Group strategy update, Taking the AI leap and the two regional sessions
- ▶ VideoWatch Karnov's Capital Markets Day English webcast covering the group, AI and regional strategy
Subscriptions, history and strategy
Around 80% of products and services are subscription based
Karnov says around 80% of its products and services are subscription based and paid annually in advance, providing what it calls resilient and visible revenues. The business also includes transaction-based education, books and print sold both with and without subscriptions, and workflow tools sold on subscription and transaction bases. This model sits on a publishing history from a Danish case-law periodical in 1867 to annotated law collections, Karnov Online in 2001 and later workflow acquisitions. Strategy emphasises content quality, user experience and workflow efficiency, with digitalisation and shared group capabilities as enablers.
- Understand the subscription model Online access, publishing, education and workflow revenue formats
- Trace the publishing history From an 1867 case-law periodical to Karnov Online and workflow acquisitions
- Read the group strategy Content, user experience, workflow efficiency and geographic development
- Open the Capital Markets Day deck English presentation on the business model, regional platforms and AI
Official profile sources: Our history — Karnov Group · Karnov Group · About — Karnov Group
Current 2026 update
What has changed in 2026?
AI workflow launch · 30 June 2026
AI workflow launchlatest official update
4company-specific highlights
−32%2026 stock return · context only
Revenue bridge
Q1 net sales fell to SEK 628m from SEK 673m: organic growth at constant currency was +3.2%, the currency effect -3.6%, and acquired growth -6.2%.
Adjusted EBITA
Q1 adjusted EBITA rose to SEK 180m from SEK 175m; the margin improved to 28.6% from 26.0% and organic adjusted-EBITA growth was 9%.
Profit for the period
Q1 profit for the period fell to SEK 59m from SEK 77m.
AI workflow launch
Karnov launched AI-powered legal-workflow products across Spain, Sweden, Denmark and France, covering assignment analysis, planning, legal analysis and document production.
Official 2026 sources: Karnov Group reports first quarter 2026 · 6 May 2026 · Karnov Group launches AI-powered workflow solutions across Europe · 30 June 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 36 | +145% | +1571% | +72% |