Nordnet Q3 2013 report presentation
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Transcript of Nordnet Q3 2013 report presentation
January – September 2013October 23, 2013
» Report presentation «
financial overview
January – September 2013
• Operating income increased by 2 percent to SEK 725.5 million (710.7)
• Profit after tax increased by 25 percent to SEK 170.1 million (135.9)
• EPS before dilution were up by 25 percent to SEK 0.97 (0.78)
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July – September 2013
• Operating income increased by 14 percent to SEK 243.2 million (212.5)
• Profit after tax increased by 164 percent to SEK 58.1 million (22.0)
• EPS before dilution were up by 164 percent to SEK 0.33 (0.13)
events Q3
• Highest savings capital ever, SEK 127 billion
• Profit more than doubled for the three-month period
• Digital sign up – become a customer simple and quick with mobile bank-ID
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customers and accounts
accounts/customer (Q3 2013): 1.23
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12M: 23,400 / 6%12M: 37,600 / 9%
0
50 000
100 000
150 000
200 000
250 000
300 000
350 000
400 000
450 000
500 000
Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
active customers active accounts
savings capital and net savings (SEK billion)
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net savings 12M: SEK 9,2 billion
0,0
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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
ne
t sa
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net savings savings capital
trades (thousands)
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12M: 12,760
3 8513 973
3 055
2 841 2 871
3 531
3 075
3 283
0
500
1 000
1 500
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2 500
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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
lending (SEK billion)
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3,03,5
2,9 2,9 2,93,2 3,0 3,1
1,6
1,7
1,7 1,7 1,8
1,92,0 2,0
0,0
1,0
2,0
3,0
4,0
5,0
6,0
Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
margin lending private loans
revenue development (SEK million)
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12M: SEK 953 million
142 137 132 126 126 119 120 120
107 107
8179 77 101 91 100
18 20
21
825
2428
23
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50
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Q4 11 Q1 12 Q2 12 Q3 12 Q412 Q113 Q213 Q313
net interest income net commission income other income
182172
181 179 179174 170 171
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200
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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
cost development (SEK million incl. credit losses)
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12M: SEK 694 million
84
93
53
33
49
70 6872
0%
5%
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25%
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35%
40%
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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13
operating profit operating margin
operating profit (SEK million)
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12M: SEK 259 million
income statement (SEK million)
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3 months 3 months 9 months 9 months 12M rolling 12 months
Consolidated Income Statement (SEK million) Jul-Sep 2013 Jul-Sep 2012 Jan-Sep 2013 Jan-Sep 2012 Oct-Sep 2013 Jan-Dec 2012
Net interest income 119.9 125.5 358.3 395.1 483.8 520.6
Net commission income 100.4 79.2 292.7 266.9 370.0 344.2
Other income 22.9 7.9 74.5 48.8 99.3 73.6
Total operating income 243.2 212.5 725.5 710.7 953.2 938.4
General administrative expenses -136.8 -144.6 -405.8 -421.5 -546.6 -562.3
Depeciation and amortization -17.1 -15.7 -49.5 -47.1 -65.6 -63.2
Other operating expenses -9.0 -9.4 -29.4 -31.1 -39.4 -41.1
Total operating expenses -162.8 -169.7 -484.7 -499.7 -651.5 -666.5
Profit before credit losses 80.4 42.8 240.7 211.0 301.6 271.9
Net credit losses -8.3 -9.7 -30.3 -32.5 -42.5 -44.7
Operating profit 72.1 33.0 210.4 178.5 259.1 227.2
Tax on profit for the period -14.1 -11.0 -40.3 -42.6 -36.0 -38.3
Profit for the period 58.1 22.0 170.1 135.9 223.1 188.9
Earnings per share before dilution 0.33 0.13 0.97 0.78 1.27 1.08
balance sheet (SEK million)
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Consolidated Statement of Financial Position (SEK million) 30/09/2013 30/09/2012 31/12/2012
Loans to credit institutions 1,004.6 861.2 1465.0
Loans to the public 5,509.3 5,046.4 4737.3
Financial assets 8,340.2 6,647.9 5388.0
Financial assets - policy holders bearing the risk 23,130.5 18,954.3 18961.7
Tangible and intangible assets 489.9 515.1 507.1
Current tax assets 102.8 4.9 7.2
Other assets 1,005.1 144.9 213.9
Prepaid expenses and accrued income 122.9 128.0 111.8
Total assets 39,705.3 32,302.7 31,391.9
Deposits and borrowing by the public 12,263.3 10,484.7 10,487.7
Liabilit ies to policyholders 23,131.2 18,955.0 18,962.3
Other liabilit ies 2,754.9 1,402.5 427.9
Shareholders' equity 1,551.0 1,460.5 1514.0
Non-controlling interest 5.0 - -
Total equtity 1,555.9 1,460.5 1514.0
Total liabilities and equity 39,705.3 32,302.7 31391.9
capital coverage (SEK million)
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Capital requirements for the financial conglomerate (SEK million) 30/09/2013 30/09/2012 31/12/2012
Total equity, Group 1,555.9 1,460.5 1,514.0
Less, profit that have not been subject to audit 0.0 - -
Plus subordinated liablities 175.7 175.7 175.7
Less assumed div idend for current year -102.1 -54.4 -122.5
Less intangible fixed assets and deferred tax receivables -456.7 -482.6 -475.3
Capital base 1,172.9 1,099.3 1,091.9
Capital requirement for regulated units within the banking
and securities sector 561.8 503.0 444.2
Theoretical solvency requirement for non-regulated units in
the largest financial sector 0.7 0.8 0.8
Capital requirement for regulated units within the insurance
sector 31.9 30.6 32.2
Capital requirement 594.4 534.4 477.2
Capital surplus 578.5 564.9 614.7
Capital coverage ratio 1.97 2.06 2.29
looking ahead
• Active cost management and a scalable operating model
• Focus on innovation and social investing
• Analytics
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