2. Financial overview
January – March 2015
• Revenue increased by 17 percent to SEK 329.8 million (281.8)
• Profit after tax increased by 39 percent to SEK 108.5 million (78.1)
• Earnings per share were up by 39 percent to SEK 0.62 (0.45)
3. Highlights from Q1 2015
• Best operating profit in Nordnet’s history
• High growth in terms of customers and savings
• Launch of mobile apps and low-interest loans with securities as collateral
5. Net savings and savings capital (SEK billion)
In relation to savings capital at the end of March 2014, net savings for the past
12 months correspond to 14 percent.
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
0
50
100
150
200
250
Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15
Netsavings
Savingscapital
Net savings Savings capital
11. Nordnet in the Nordics (Jan-Mar 2015)
Savings capital (SEK billion)
Revenue (SEK million) Operating profit (SEK million)
Customers
NO, DK, FI
share of
total 46%
NO, DK, FI
share of
total 50%
NO, DK, FI
share of
total 40%
NO, DK, FI
share of
total 44%
105
19
28
42
SE
NO
DK
FI
226,000
64,800
43,600
115,500 SE
NO
DK
FI
184.8
39.9
50.9
54.1
SE
NO
DK
FI 82.2
9.9
23.8
20.3
SE
NO
DK
FI
12. Income statement (SEK million)
3 months 3 months 12 m rolling 12 months
Consolidated Income Statement (SEK million) Jan-Mar 2015 Jan-Mar 2014 Apr-Mar 2015 Jan-Dec 2014
Net interest income 110.6 120.4 468.8 478.6
Net commission income 167.0 127.1 518.2 478.2
Other income 52.2 34.4 146.9 129.1
Total operating income 329.8 281.8 1,133.8 1,085.8
General administrative expenses -150.3 -146.0 -595.0 -590.7
Depeciation and amortization -19.5 -17.4 -73.0 -71.0
Other operating expenses -11.9 -12.2 -43.8 -44.1
Total operating expenses -181.7 -175.6 -711.8 -705.8
Profit before credit losses 148.1 106.1 422.0 380.1
Net credit losses -11.8 -10.8 -44.1 -43.1
Operating profit 136.3 95.3 337.9 337.0
Tax on profit for the period -27.7 -17.2 -70.9 -60.3
Profit for the period 108.5 78.1 307.1 276.6
Earnings per share before dilution 0.62 0.45 1.75 1.58
13. Balance sheet (SEK million)
Consolidated Balance Sheet (SEK million) 31/03/2015 31/03/2014 31/12/2014
Loans to credit institutions 745.1 1,010.4 987.5
Loans to the general public 6,545.1 5,989.6 5,785.6
Financial assets 14,944.8 9,390.1 12,103.3
Financial assets - policy holders bearing the risk 33,924.7 25,419.7 28,868.5
Tangible and intangible assets 460.6 483.2 466.5
Current tax assets 28.6 2.7 -
Other assets 3,343.1 1,386.3 1,770.3
Prepaid expenses and accrued income 182.1 173.1 144.7
Total assets 60,174.0 43,855.0 50,126.5
Deposits and borrowing by the public 18,472.9 13,442.2 16,500.3
Liabilities to policyholders 33,925.6 25,420.4 28,869.3
Other liabilities 5,917.6 3,281.9 3,005.7
Total liabilities 58,316.1 42,144.5 48,375.3
Equity
Share capital 175.0 175.0 175.0
Other capital contributions 471.8 471.8 471.8
Other provisions -53.4 -55.2 -64.8
Accrued profit including profit for the period 1,261.0 1,114.6 1,165.5
Total shareholders' equity attributable to shareholders of the Parent Company 1,854.5 1,706.3 1,747.6
Non-controlling interest 3.4 4.1 3.5
Total equity 1,857.9 1,710.4 1,751.1
Total liabilities and equity 60,174.0 43,855.0 50,126.5
14. Capital requirement (SEK million)
Capital requirements for the financial conglomerate (SEK million) 31/03/2015 31/03/2014 31/12/2014
Less, profit that have not been subject to audit -108.5 -78.1 -
Subordinated liablities 45.4 140.6 140.6
Requirements for prudent valuation -14.9 - -12.1
Deduction for proposed div idend, previous year -175.0 -148.8 -175.0
Less intangible fixed assets and deferred tax receivables -430.6 -447.6 -434.3
Capital base 1,174.2 1,176.5 1,270.3
Risk exposures
Exposure credit risk 5,746.4 5,521.4 5,650.2
Exposure market risk 14.2 10.5 18.1
Exposure operational risk 1,676.9 1,888.6 1,888.6
Exposure other risks 438.1 420.0 402.7
Total exposure 7,875.6 7,840.5 7,959.6
Capital ratio 14.9% 15.0% 16.0%
16. Contact us
More information: nordnetab.com
Become a customer: nordnet.se/no/dk/fi
Social network investing: shareville.se/no/dk/fi
Follow: nordnetbloggen.se / Twitter @CEONordnet