Nordnet Q3 2013 report presentation

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Nordnet's interim report presentation for the period January -September 2013.
Some events during 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

Published in: Economy & Finance, Business
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Nordnet Q3 2013 report presentation

  1. 1. » Report presentation « January – September 2013 October 23, 2013
  2. 2. financial overview 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) 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) 2
  3. 3. 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 3
  4. 4. 4 customers and accounts 12M: 23,400 / 6% 12M: 37,600 / 9% 500 000 450 000 400 000 350 000 300 000 250 000 200 000 150 000 100 000 50 000 0 Q4 11 Q1 12 Q2 12 Q3 12 active customers Q4 12 Q1 13 Q2 13 active accounts accounts/customer (Q3 2013): 1.23 Q3 13
  5. 5. savings capital and net savings (SEK billion) net savings 12M: SEK 9,2 billion 140 6,0 120 5,0 4,0 80 3,0 60 2,0 40 1,0 20 0 0,0 Q4 11 Q1 12 Q2 12 Q3 12 net savings Q4 12 Q1 13 savings capital Q2 13 Q3 13 net savings savings capital 100 5
  6. 6. 6 trades (thousands) 4 500 4 000 3 851 12M: 12,760 3 973 3 531 3 500 3 283 3 075 3 055 2 841 3 000 2 871 Q3 12 Q4 12 2 500 2 000 1 500 1 000 500 0 Q4 11 Q1 12 Q2 12 Q1 13 Q2 13 Q3 13
  7. 7. 7 lending (SEK billion) 6,0 5,0 1,7 4,0 1,6 1,9 1,7 1,7 2,9 2,9 Q3 12 Q4 12 2,0 3,2 3,0 3,1 Q1 13 Q2 13 Q3 13 2,9 Q2 12 2,0 1,8 3,0 2,0 3,0 3,5 1,0 0,0 Q4 11 Q1 12 margin lending private loans
  8. 8. revenue development (SEK million) 300 250 12M: SEK 953 million 18 20 24 21 200 107 8 28 25 23 107 81 150 79 77 101 91 100 100 142 137 132 126 126 119 120 120 Q4 11 Q1 12 Q2 12 Q3 12 Q412 Q113 Q213 Q313 50 0 net interest income net commission income other income 8
  9. 9. cost development (SEK million incl. credit losses) 250 12M: SEK 694 million 200 182 172 181 179 179 Q2 12 Q3 12 Q4 12 174 170 171 Q1 13 Q2 13 Q3 13 150 100 50 0 Q4 11 Q1 12 9
  10. 10. 10 operating profit (SEK million) 100 90 40% 12M: SEK 259 million 93 84 35% 80 70 70 68 72 53 60 30% 25% 49 50 20% 33 40 15% 30 10% 20 5% 10 0 0% Q4 11 Q1 12 Q2 12 Q3 12 operating profit Q4 12 Q1 13 operating margin Q2 13 Q3 13
  11. 11. 11 income statement (SEK million) 3 months 3 months 9 months 9 months 12M rolling 12 months 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 22.9 7.9 74.5 48.8 99.3 73.6 243.2 212.5 725.5 710.7 953.2 938.4 -136.8 -144.6 -405.8 -421.5 -546.6 -562.3 -17.1 -15.7 -49.5 -47.1 -65.6 -63.2 -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 -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 Consolidated Income Statement (SEK million) Other income Total operating income General administrativ e expenses Depeciation and amortization Other operating expenses Tax on profit for the period
  12. 12. 12 balance sheet (SEK million) 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 Financial assets - policy holders bearing the risk Tangible and intangible assets Current tax assets 8,340.2 6,647.9 5388.0 23,130.5 18,954.3 18961.7 489.9 515.1 507.1 102.8 4.9 7.2 1,005.1 144.9 213.9 122.9 128.0 111.8 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 Liabilities to policyholders 18,962.3 Other assets Prepaid expenses and accrued income 23,131.2 18,955.0 Other liabilities 2,754.9 1,402.5 427.9 Shareholders' equity 1,551.0 1,460.5 1514.0 Non-controlling interest Total equtity Total liabilities and equity 5.0 - - 1,555.9 1,460.5 1514.0 39,705.3 32,302.7 31391.9
  13. 13. 13 capital coverage (SEK million) Capital requirements for the financial conglomerate (SEK million) Total equity, Group Less, profit that hav e not been subject to audit Plus subordinated liablities Less assumed div idend for current year Less intangible fixed assets and deferred tax receiv ables Capital base 30/09/2013 30/09/2012 31/12/2012 1,555.9 1,460.5 1,514.0 0.0 - - 175.7 175.7 175.7 -102.1 -54.4 -122.5 -456.7 -482.6 -475.3 1,172.9 1,099.3 1,091.9 561.8 503.0 444.2 0.7 0.8 0.8 Capital requirement for regulated units within the banking and securities sector Theoretical solv ency requirement for non-regulated units in the largest financial sector 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 1.97 2.06 2.29 Capital coverage ratio
  14. 14. looking ahead • Active cost management and a scalable operating model • Focus on innovation and social investing • Analytics 14
  15. 15. 15 more information: nordnetab.com become a customer: nordnet.se/no/dk/fi follow: nordnetbloggen.se Twitter @CEONordnet

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