Post on 06-Jul-2015
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January – June 2013July 17, 2013
» Report presentation «
financial overview
January – June 2013
• Operating income decreased by 3 percent to SEK 482.3 million (498.3)
• Profit after tax fell by 2 percent to SEK 112.1 million (113.9)
• EPS before dilution were down by 2 percent to SEK 0.64 (0.65)
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April – June 2013
• Operating income increased by 2 percent to SEK 238.2 million (233.4)
• Profit after tax increased by 33 percent to SEK 54.9 million (41.3)
• EPS before dilution were up by 33 percent to SEK 0.31 (0.24)
events Q2
• Nordnet acquired the majority of the social investing network Shareville
• “Bank/Stockbroker of the Year” in Denmark for the fifth consecutive year
• Removal of purchase and redemption fees on all funds on our Finnish platform
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+
a pioneer in social investing
customers and accounts
accounts/customer (Q2 2013): 1.23
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0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Active customers Active accounts
12M: 23,600 / 7%12M: 38,400 / 9%
net savings (SEK billion)
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12M: SEK 7.3 billion
2.0
1.0
3.6
1.9
0.1
1.3
3.7
2.2
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
trades (thousands)
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4185
38513973
3055
2841 2871
3531
3075
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
12M: 12,318
lending (SEK billion)
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3.22 3.043.54
2.93 2.93 2.863.16 3.00
1.481.59
1.65
1.70 1.73 1.80
1.90 2.00
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Margin lending Consumer loans
revenue development (SEK million)
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132 142 137 132 126 126 119 120
128 107 107
8179 77 101 91
1618 20
21
825
2428
0
50
100
150
200
250
300
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q412 Q1 13 Q2 13
Net interest income Net commission income Other income
12M: SEK 922 million
cost development (SEK million incl. credit losses)
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175
182
172
181
179 179
174
170
164
166
168
170
172
174
176
178
180
182
184
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
12M: SEK 702 million
operating profit excl. eo items (SEK million)
10
101
93 93
53
42
49
7068
0%
5%
10%
15%
20%
25%
30%
35%
40%
0.0
20.0
40.0
60.0
80.0
100.0
120.0
Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Operating profit Operating margin
12M: SEK 229 million
income statement (SEK million)
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3 months 3 months 6 months 6 months 12M rolling 12 months
Consolidated Income Statement (SEK million) Apr-Jun 2013 Apr-Jun 2012 Jan-Jun 2013 Jan-June 2012 Jul-Jun 2013 Jan-Dec 2012
Net interest income 119.5 132.3 238.4 269.6 489.4 520.6
Net commission income 91.0 80.6 192.3 187.7 348.8 344.2
Other income 27.7 20.5 51.6 40.9 84.3 73.6
Total operating income 238.2 233.4 482.3 489.3 922.4 938.4
General administrative expenses -132.7 -141.2 -269.1 -276.9 -554.4 -562.3
Depeciation and amortization -16.5 -15.8 -32.4 -31.3 -64.2 -63.2
Other operating expenses -9.6 -11.6 -20.5 -21.7 -39.8 -41.1
Total operating expenses -158.8 -168.7 -321.9 -330.0 -658.4 -666.5
Profit before credit losses 79.4 54.7 160.3 168.2 264.0 271.9
Net credit losses -11.5 -11.8 -22.0 -22.8 -43.9 -44.7
Operating profit 67.9 52.9 138.3 145.5 220.1 271.9
Tax on profit for the period -13.0 -11.6 -26.3 -31.6 -32.9 -44.7
Profit for the period 54.9 41.3 112.1 113.9 187.1 227.2
Earnings before dilution 0.31 0.24 0.64 0.65 1.07 1.08
balance sheet (SEK million)
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Consolidated Statement of Financial Position (SEK million) 30/06/2013 30/06/2012 31/12/2012
Loans to credit institutions 1089.6 1,134.7 1465.0
Loans to the public 5359.7 4,977.4 4737.3
Financial assets 7415.6 5801.9 5388.0
Financial assets - policy holders bearing the risk 21195.9 18,043.1 18961.7
Tangible and intangible assets 504.4 527.2 507.1
Current tax assets 72.3 2.6 7.2
Other assets 905.1 409.9 213.9
Prepaid expenses and accrued income 116.7 111.4 111.8
Total assets 36,659.2 31,008.2 31,391.9
Deposits and borrowing by the public 11,694.7 10,570.6 10,487.7
Liabilit ies to policyholders 21,196.5 18,044.0 18,962.3
Other liabilit ies 2269.8 958.0 427.9
Shareholders' equity 1498.2 1435.6 1514.0
Total liabilities and shareholders' equity 36,659.2 31008.2 31391.9
capital coverage (SEK million)
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Capital requirements for the financial conglomerate (SEK million) 30/06/2013 30/06/2012 31/12/2012
Total equity, Group 1,498.2 1,435.6 1,514.0
Less, profit that have not been subject to audit -112.1 -41.3 -
Plus subordinated liablities 175.7 175.7 175.7
Less expected div idend for current year - -29.0 -122.5
Less intangible fixed assets and deferred tax receivables -471.0 -495.5 -475.3
Capital base 1,090.9 1,045.5 1,091.9
Capital requirement for regulated units within the banking
and securities sector520.9 499.7 444.2
Theoretical solvency requirement for non-regulated units in
the largest financial sector 0.92.1 0.8
Capital requirement for regulated units within the insurance
sector 31.930.7 32.2
Capital requirement 553.7 532.5 477.2
Capital surplus 537.2 513.0 614.7
Capital coverage ratio 1.97 1.96 2.29
looking ahead
• Continue to build our position as the leading online bank in the Nordics
• Focus on innovation and social investing
• Provide superior digital customer experience
• Active cost management and a scalable operating model
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more information:
nordnetab.com
become a customer:
nordnet.se/no/dk/fi
follow:
nordnetbloggen.se
Twitter @CEONordnet
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