Nordnet Q1 2010 report

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Interim report January - March 2010
Carl-Viggo Östlund, CEO and Fredrik Svederman, CFO
E-mailquestions to: adrian.westman@nordnet.se

Financial highlights
Operating incomeincreased by 79 percent to SEK 272.9 million (152.1)
Profit after tax increased by 109 percent to SEK 52.9 million (25.3)
Earnings per share before dilution were up 105 percent to SEK 0.32 (0.15)

General highlights
Q1
Intensive activity among savers
Focus on the Nordics; phasing-out of Luxembourg operations
eQ integration progress according to schedule
Launch of iPhone application in all Nordic markets
Stockbroker of the Year in Denmark

Operating profit
+117% compared to Q1 2009

Number of accounts
Strong underlying growth
Total number of customers: 272,200

Net savings
Strong market belief among customers

Market sharesJanuary - March
Algorithmic trading is gaining momentum

Market shares (Trades)
*2009 figure does not include eQ
Source: Official statistics from the various stock exchanges

Market shares (Turnover)
*2009 figure does not include eQ
Source: Official statistics from the various stock exchanges

Outlook
Focused marketing efforts – unbankyourself
Launch of importantbankingproducts in 2010
Luxembourg phasingout to be completed in Q3
eQ integration to be completed by 1 June 2010
eQ to have positive impact on profits in 2010

Financial objectives
100% costcoverage from otherincomethantradingcommision at the end of 2011
Double the revenues from levels of 2007 whilemaintaining a high operating margin within 2-3 years
Vision
To become the leading bank for savings in the Nordic countries by 2018

Large potential
Nordnet’s potential clientbase
25 million people in the Nordic region
10 million save in shares and mutualfunds
Nordnet’sexistingclients2010

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Nordnet Q1 2010 report

by Nordnet on May 07, 2010

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