Nordnet Q2 2014 report presentation

17
January – June 2014 July 15, 2014 » Report presentation «

description

Nordnet's interim report for the period january-june 2014. Highlights from the second quarter: - Launch of three no-fee Nordic Super funds - Strengthening of pension operations in the Swedish market - Stockbroker of the year in Denmark

Transcript of Nordnet Q2 2014 report presentation

Page 1: Nordnet Q2 2014 report presentation

January – June 2014 July 15, 2014

» Report presentation «

Page 2: Nordnet Q2 2014 report presentation

financial overview

2

April – June 2014

• Revenue increased by 9 percent to SEK 258.6 million (238.2)

• Profit after tax increased by 6 percent to SEK 58.3 million (54.9)

• Earnings per share were up by 6 percent to SEK 0.33 (0.31)

January – June 2014

• Revenue increased by 12 percent to SEK 540.8 million (482.3)

• Profit after tax increased by 22 percent to SEK 136.5 million (112.1)

• Earnings per share were up by 22 percent to SEK 0.78 (0.64)

Page 3: Nordnet Q2 2014 report presentation

• Launch of three Nordic Super funds, totally free from fees

• Build-out of sales force in occupational pension on the Swedish market

• Nordnet voted Stockbroker of the Year on the Danish market by the

Danish Shareholders’ Association

• Shareville in beta-test with 2,500 customers

events Q2 3

Page 4: Nordnet Q2 2014 report presentation

0

100,000

200,000

300,000

400,000

500,000

600,000

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

Active customers Active accounts

customers and accounts

accounts/customer (Q2 2014): 1.25

4

12M: 34,500 / 9% 12M: 51,100 / 11%

Page 5: Nordnet Q2 2014 report presentation

net savings and savings capital (SEK billion)

5

quarter 5 year overview

net savings 12M: SEK 9.2 billion / 8%

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

2009 2010 2011 2012 2013

0

20

40

60

80

100

120

140

160

ne

t sa

vin

gs

savin

gs

ca

pita

l

Net savings Savings capital

0.0

1.0

2.0

3.0

4.0

5.0

6.0

0

20

40

60

80

100

120

140

160

180

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

ne

t sa

vin

gs

savin

gs

ca

pita

l

Net savings Savings capital

Page 6: Nordnet Q2 2014 report presentation

trades (thousands)

6

12M: 14,309

2,841 2,871

3,531

3,075

3,283

3,677

4,134

3,216

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

Page 7: Nordnet Q2 2014 report presentation

lending (SEK billion)

7

2.9 2.9 3.2 3.0 3.1 3.3 3.5 3.3

1.7 1.8

1.9 2.0 2.0

2.1 2.2

2.3

0.0

1.0

2.0

3.0

4.0

5.0

6.0

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

Margin lending Private loans

Page 8: Nordnet Q2 2014 report presentation

revenue development (SEK million)

8

12M: SEK 1,047 million

126 126 119 120 120 124 120 123

79 77 101 91 100 111 127

108

8 25

24 28

23

29

34

28

0

50

100

150

200

250

300

Q3 12 Q412 Q113 Q213 Q313 Q4 13 Q1 14 Q2 14

Net interest income Net commission income Other income

Page 9: Nordnet Q2 2014 report presentation

cost development (SEK million incl. credit losses)

9

12M: SEK 725 million

179 179 174 170 171

180 186 188

0

20

40

60

80

100

120

140

160

180

200

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

Page 10: Nordnet Q2 2014 report presentation

operating profit (SEK million)

10

12M: SEK 322 million

33

49

70 68 72

84

95

71

0%

5%

10%

15%

20%

25%

30%

35%

40%

0

20

40

60

80

100

120

Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14

Operating profit Operating margin

Page 11: Nordnet Q2 2014 report presentation

136.2

3.2 16.5

10.1

SE NO DK FI

330.8 64.0

66.5

79.0

SE NO DK FI

86

16

18

35

SE NO DK FI

nordnet in the nordics (Jan-Jun 2014)

savings capital (billion SEK)

revenue (msek) operating profit (msek)

customers

NO, DK, FI

share of

total 45%

11

214,700

58,800

34,700

105,000

SE NO DK FI

NO, DK, FI

share of

total 48%

NO, DK, FI

share of

total 39%

NO, DK, FI

share of

total 18%

Page 12: Nordnet Q2 2014 report presentation

income statement (SEK million)

12

3 months 3 months 6 months 6 months 12 m rolling 12 months

Consolidated Income Statement (SEK million) Apr-Jun 2014 Apr-Jun 2013 Jan-Jun 2014 Jan-Jun 2013 Jul-Jun 2014 Jan-Dec 2013

Net interest income 123.3 119.5 243.6 238.4 487.7 482.4

Net commission income 107.6 91.0 234.7 192.3 445.7 403.3

Other income 27.7 27.7 62.1 51.6 113.8 103.2

Total operating income 258.6 238.2 540.4 482.3 1,047.1 989.0

General administrative expenses -147.3 -132.7 -293.3 -269.1 -547.1 -549.8

Depeciation and amortization -18.5 -16.5 -35.9 -32.4 -70.1 -66.5

Other operating expenses -10.5 -9.6 -22.6 -20.5 -42.1 -39.9

Total operating expenses -176.3 -158.8 -351.9 -321.9 -686.2 -656.2

Profit before credit losses 82.3 79.4 188.5 160.3 360.9 332.8

Net credit losses -11.6 -11.5 -22.4 -22.0 -39.2 -38.8

Operating profit 70.7 67.9 166.1 138.3 321.8 294.0

Tax on profit for the period -12.5 -13.0 -29.7 -26.3 -63.5 -38.8

Profit for the period 58.3 54.9 136.5 112.1 258.2 233.8

Earnings per share before dilution 0.33 0.31 0.78 0.64 1.48 1.34

Page 13: Nordnet Q2 2014 report presentation

balance sheet (SEK million)

13

Consolidated Statement of Financial Position (SEK million) 30/06/2014 30/06/2013 31/12/2013

Loans to credit institutions 1,055.0 1,089.6 967.6

Loans to the public 5,998.3 5,359.7 5,455.5

Financial assets 11,528.2 7,415.6 7,645.7

Financial assets - policy holders bearing the risk 27,069.5 21,195.9 23,764.9

Tangible and intangible assets 476.1 504.4 480.7

Current tax assets 11.1 72.3 99.9

Other assets 1,081.4 905.1 1,141.0

Prepaid expenses and accrued income 145.7 116.7 138.9

Total assets 47,365.3 36,659.2 39,694.2

Deposits and borrowing by the public 15,240.6 11,694.7 12,898.6

Liabilit ies to policyholders 27,070.2 21,196.5 23,765.6

Other liabilit ies 3,437.0 2,269.8 1,404.7

Shareholders' equity 1,613.8 1,493.0 1,621.0

Non-controlling interest 3.6 5.2 4.4

Total equtity 1,617.5 1,498.2 1,625.4

Total liabilities and equity 47,365.3 36,659.3 39,694.2

Page 14: Nordnet Q2 2014 report presentation

capital coverage (SEK million)

14

Capital requirements for the financial conglomerate (SEK million) 30/06/2014 30/06/2013 31/12/2013

Total equity, Group 1,617.5 1,498.2 1,625.4

Less, profit that have not been subject to audit -137.2 -112.1 -

Plus subordinated liablities 140.6 175.7 175.7

Less suggested/assumed div idend for current year - - -148.8

Less intangible fixed assets and deferred tax receivables -442.8 -471.0 -447.4

Capital base 1,178.0 1,090.9 1,205.0

664.0 520.9 549.2

1.0 0.9 0.8

33.4 31.9 32.6

Capital requirement 698.4 553.7 582.6

Capital surplus 479.6 537.2 622.4

Capital coverage ratio 1.69 1.97 2.07

Capital requirement for regulated units within the banking

and securities sector

Theoretical solvency requirement for non-regulated units in

the largest financial sector

Capital requirement for regulated units within the insurance

sector

Page 15: Nordnet Q2 2014 report presentation

looking ahead

• Social investing

• Focus on occupational pension in the Swedish market

• Continue to change and improve conditions for private

savers

15

Page 16: Nordnet Q2 2014 report presentation

more information:

nordnetab.com

become a customer:

nordnet.se/no/dk/fi

follow:

nordnetbloggen.se

Twitter @CEONordnet

16

Page 17: Nordnet Q2 2014 report presentation