- Nordnet's operating income decreased 8% to SEK 244.0 million in the first quarter of 2013 compared to the same period in 2012, while profit after tax fell 21% to SEK 57.1 million. - Nordnet gained close to 7,000 new customers in the first quarter and launched commission-free monthly savings in exchange traded funds. - Net savings reached SEK 3.7 billion in the first quarter, up from SEK 3.6 billion in the same period in 2012.

1. January – March 2013
April 24, 2013
» Report presentation «

2. financial overview
January – March 2013
• Operating income decreased by 8 percent to SEK 244.0 million (264.9)
• Profit after tax fell by 21 percent to SEK 57.1 million (72.5)
• EPS before dilution were down by 21 percent to SEK 0.33 (0.41)
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3. events during Q1
• Continuous growth in customers – close to 7,000 new customers in the
quarter
• High desire to save among individuals; net savings reached SEK 3.7 billion
• Nordnet first in the Nordic region to launch commission free monthly savings
in exchange traded funds
• Launch of Räntetorget – a portal for interest rates products from market
leading companies
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4. customers and accounts
accounts/customer (Q1 2013): 1.22
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Active customers Active accounts
12M: + 22,800 / + 7%
12M: + 38,400 / +9%
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5. net savings (SEK billion)
1.1
2.0
1.0
3.6
1.9
0.1
1.3
3.7
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
12M: SEK 7.0 billion
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6. trades (thousands)
3100
4185
3851
3973
3055
2841 2871
3531
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
12M: 12,298
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7. lending (SEK billion)
4.27
3.22 3.04
3.54
2.93 2.93 2.86
3.16
1.39
1.48
1.59
1.65
1.70 1.73 1.80
1.90
0.00
1.00
2.00
3.00
4.00
5.00
6.00
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Margin lending Consumer loans
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8. revenue development (SEK million)
139 132 142 137 132 126 126 119
93
128 107 107
81
79 77 101
20
16
18 20
21
8
25
24
0
50
100
150
200
250
300
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q412 Q1 13
Net interest income Net commission income Other income
12M: SEK 918 million
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9. cost development (SEK million incl. credit losses)
185
175
182
172
181 179 179
174
100
110
120
130
140
150
160
170
180
190
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
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10. operating profit excl. eo items (SEK million)
67
101
93 93
53
42
49
70
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
20
40
60
80
100
120
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13
Operating profit Operating margin
12M: SEK 214 million
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11. income statement (SEK million)
3 months 3 months 12 mrolling 12 months
Consolidated Income Statement (SEK million) Jan-Mar 2013 Jan-Mar 2012 Apr-Mar 2013 Jan-Dec 2012
Net interest income 118.9 137.3 502.1 520.6
Net commission income 101.3 107.1 338.4 344.2
Other income 23.8 20.4 77.0 73.6
Total operating income 244.0 264.9 917.5 938.4
General adminstrativ e expenses -136 -136 -563 -562.3
Depreciation and amortization -16 -15 -64 -63
Other operating expenses -11 -10.1 -42 -41
Total operating expenses -163.1 -161.3 -668.3 -666.5
Profit before credit losses 80.9 103.6 249.3 271.9
Net credit losses -10.5 -11.0 -44.2 -44.7
Operating profit 70.4 92.6 205.1 227.2
Tax on profit for the period -13.3 -20.0 -31.5 -38.3
Profit for the period 57.1 72.5 173.5 188.9
Earnings before dilution 0.33 0.41 0.99 1.08
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12. balance sheet (SEK million)
Consolidated Statement of Financial Position (SEK million) 31/03/2013 31/03/2012 31/12/2012
Loans to credit institutions 1,018 686 1,465
Loans to the public 5,303 5,388 4,737
Financial assets 5,935 5,345 5,388
Financial assets - policy holders bearing the risk 20,907 18,618 18,962
Tangible and intangible assets 489 537 507
Other assets 988 277 333
Total assets 34,640 30,850 31,392
Deposits and borrowing by the public 10,331 9,959 10,488
Liabilities to policyholders 20,908 18,619 18,962
Other liabilities 1,840 761 428
Shareholders' equity 1,561 1,510 1,514
Total liabilities and shareholders' equity 34,640 30,850 31,392
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13. capital coverage (SEK million)
Capital requirements for the financial conglomerate (SEK million) 31/03/2013 31/03/2012 31/12/2012
Equity, Group 1,561.2 1,510.2 1,514.0
-57.1 - -
Plus subordinated liablities 175.7 175.7 175.7
Less proposed div idend for prev ious year -122.5 -113.8 -
Less expected div idend for current year - -29.0 -122.5
Less intangible fixed assets and deferred tax receiv ables -457.2 -507.2 -475.3
Capital base 1,100.1 1,035.9 1,091.9
Capital requirement for regulated units within the banking and securities sector 510.3 475.7 444.2
Theoretical solv ency requirement for non-regulated units in the largest financial sector 0.6 1.2 0.8
Capital requirement for regulated units within the insurance sector 32.2 31.1 32.2
Capital requirement 543.1 508.0 477.2
Capital surplus 557.0 527.9 614.7
Capital coverage ratio 2.03 2.04 2.29
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14. looking ahead
• Continue to build our position as the leading online bank in the Nordics
• Continue to innovate around offerings within existing product areas
• Develop our online store to become more simple and intuitive
• Active cost management
• Scalable operating model
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15. more information:
nordnetab.com
become a customer:
nordnet.se/no/fi/dk
follow:
nordnetbloggen.se and Twitter
@CEONordnet
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