BINERONasdaq StockholmSoftware - InfrastructureIFRS · SEK

Binero Group

Binero Group is a Swedish technology company that provides cloud, managed, and connected services through its own data center and related infrastructure. Its offering is built around secure hosting, operations, and digital delivery tools for customers that need reliable IT services in the Nordic market.

Revenue479m SEK
+15.1 %y/y
Operating profit (EBIT)-31.1m SEK
−840.1 %y/y
EBIT margin-6.5%
−7.5 ppy/y
Net income-49.6m SEK
−485.3 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-2000200400600m SEK2022: 330 m SEK2022: EBIT 16 m SEK20222023: 327 m SEK2023: EBIT 24 m SEK20232024: 416 m SEK2024: EBIT 4.2 m SEK20242025: 479 m SEK2025: EBIT -31 m SEK2025479-31
RevenueOperating profit (EBIT)

Business

Share of revenue
Cloud Services45 %

Local hosting, private/hybrid cloud, multicloud, and colocation services.

Managed Services35 %

Outsourced operations, support, and administration of customer IT environments.

Connected Services20 %

Digital distribution and connectivity-related services for media and content delivery.

Customers

Binero sells mainly to organizations that need secure, compliant, and reliable IT infrastructure rather than consumer-facing software. The company highlights healthcare, hospitality, and the public sector as focus verticals, while also serving developers, IT companies, SMEs, and digital growth businesses. Customers buy Binero to simplify operations, improve availability, and keep data and workloads in a Nordic environment.

Healthcare

Buys secure, high-availability infrastructure for patient-facing and internal systems.

Hospitality

Buys reliable technology and support for guest experience and operations.

Public sector

Buys compliant cloud and managed services with Nordic data handling.

SMEs

Buys scalable cloud and support services to outsource IT complexity.

Developers and IT companies

Buys hosting, cloud, and platform services for application delivery.

Strategy

Binero’s strategy is to position itself as a customer-close Nordic technology partner with secure, scalable services and strong operational reliability. It emphasizes recurring revenue, cloud and platform development, and service delivery from its own climate-smart data center to differentiate on sovereignty, compliance, and sustainability. The company also targets SMEs and public procurement, where local control and dependable support can be decisive.

Grow recurring cloud and platform revenueMedium term

Recurring contracts improve predictability and deepen customer relationships.

Strengthen Nordic data sovereignty positioningMedium term

Customers in regulated sectors value local control, compliance, and availability.

Expand customer base in SMEs and public procurementShort term

These segments fit the company’s standardized, scalable service model.

Maintain service reliability and security

Availability and information security are central to the value proposition.

Geography

Binero is headquartered in Stockholm and operates primarily in Sweden and the broader Nordic region. Its service model is tied to local data-center operations and Nordic support, which matters for customers that want regional data residency, compliance, and low-latency delivery. The company also references Europe as an important demand area for European cloud services.

Risks

Binero faces demand risk tied to the pace of European cloud adoption, customer spending, and the broader macro environment. Its business also depends on technical reliability, regulatory compliance, and specialized personnel, while acquisitions and infrastructure ownership add execution complexity. As a Nordic cloud and managed-services provider, it is exposed to service-level failures, supplier dependencies, and cybersecurity expectations.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market growth risk1Regulatory and compliance risk2Service delivery and liability risk3Supplier dependency risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market growth riskImpact: HighLikelihood: Medium

    Demand for European cloud services may not grow as expected if macro or geopolitical conditions worsen.

    Exposure: European cloud and public-sector demand

  2. Regulatory and compliance riskImpact: HighLikelihood: Medium

    The company operates in a heavily regulated environment with changing Swedish, EU, and sector rules.

    ExposureCloudData handlingListed-company compliance
  3. Service delivery and liability riskImpact: HighLikelihood: Low

    Failures in hosting, connectivity, or managed services can lead to customer claims and churn.

    ExposureData centerCloud operationsSupport services
  4. Supplier dependency riskImpact: MediumLikelihood: Low

    External providers are needed for connectivity, media distribution, and some infrastructure inputs.

    Exposure: Internet connectivity and third-party services

  5. Key-person and recruitment riskImpact: Medium

    Specialized technical and commercial talent is needed to execute expansion plans.

    ExposureEngineeringOperationsSalesLeadership

Accounting

Judgemental items
Goodwill impairment

Acquisition-related goodwill must be tested annually and can create large non-cash write-downs if cash flows weaken.

Impact: Reported equity and operating performance

Intangible asset amortization

Customer relationships, software, and development costs are amortized over time, affecting EBIT comparability.

Impact: Operating profit and asset carrying values

IFRS 16 lease accounting

Data center and office leases can create right-of-use assets and lease liabilities on the balance sheet.

Impact: Leverage metrics and depreciation/interest split

Revenue recognition for service contracts

Cloud and managed services may be recognized over time, affecting quarterly comparability and deferred revenue.

Impact: Revenue timing and working capital

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Binero Group (BINERO) Revenue, Earnings & Financials 2025 – Clarifo