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

1,0

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3,0

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5,0

6,0

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120

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Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13

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vin

gs

savin

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ca

pita

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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

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1 000

1 500

2 000

2 500

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3 500

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4 500

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

0

50

100

150

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300

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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100

150

200

250

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%

10%

15%

20%

25%

30%

35%

40%

0

10

20

30

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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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more information:

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