Presentation of Nordnet's interim report January - June 2012

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Interim report January – June 2012

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financial overview (january-june)
• Operating income decreased by 8 percent to SEK 498.3 million (541.7)
• Profit after tax fell by 15 percent to SEK 113.9 million (134.5)
• EPS before dilution were down by 15 percent to SEK 0.65 (0.77)
operating profit net savings total savings capital
145.5 (166.0) 5.6 (6.3) 96.0 (102.7)
million Swedish kronor billion Swedish kronor billion Swedish kronor
number of active customers number of trades cost coverage
355,100 (330,400) 7,027,800 (7,275,400) 96 (92)
Percent

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events (april-june)
• Decreased risk appetite among savers
• Retained flexibility on cost side
• Håkan Nyberg begins 9 August
• Private banking launched in Denmark

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customers and accounts
Accounts/customer (Q2 2012): 1.20

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number of trades (thousands)

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net savings (million)

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revenue development (million)

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cost development (million, incl. credit losses)

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operating profit excl. eo items (million)

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3 months 3 months 6 months 6 months 12m rolling 12 months
Consolidated Income Statement (SEK million) apr-jun 2012 apr-jun 2011 jan-jun 2012 jan-jun 2011 jul-jun 2012 jan-dec 2011
Net interest income 132.3 139.3 269.6 272.9 544.0 547.3
Net commission income 80.6 92.5 187.7 225.4 422.6 460.3
Other income 20.5 19.8 40.9 43.4 74.2 76.7
Total operating income 233.4 251.6 498.3 541.7 1,040.8 1,084.2
General administrativ e expenses -141.2 -145.2 -276.9 -294.6 -550.8 -568.5
Depreciation and amortization -15.8 -17.6 -31.3 -36.2 -64.5 -69.3
Other operating expenses -11.6 -10.6 -21.7 -21.7 -54.1 -54.1
Total operating expenses -168.7 -173.4 -330.0 -352.5 -669.4 -691.9
Profit before credit losses 64.7 78.2 168.2 189.2 371.4 392.3
Net credit losses -11.8 -11.5 -22.8 -23.2 -40.5 -40.9
Operating profit 52.9 66.7 145.5 166.0 330.9 351.5
Tax on profit for the period -11.6 -11.0 -31.6 -31.6 -81.4 -81.3
Profit for the period 41.3 55.7 113.9 134.5 249.5 270.1
Earnings per share before dilution 0.24 0.32 0.65 0.77 1.43 1.54

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Consolidated Statement of Financial Position (SEK million) 30/06/2012 30/06/2011 31/12/2011
Loans to credit institutions 1,135 535 1,838
Loans to the public 4,977 5,657 4,630
Financial assets 5,802 4,690 5,172
Financial assets - policy holders bearing the risk 18,043 19,338 16,463
Tangible and intangible assets 527 568 546
Other assets 524 310 413
Total assets 31,008 31,098 29,062
Deposits and borrowing by the public 10,571 9,809 10,708
Liabilities to policyholders 18,044 19,340 16,465
Other liabilities 958 649 460
Shareholders' equity 1,436 1,300 1,429
Total liabilities and shareholders' equity 31,008 31,098 29,062

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Capital requirements for the financial conglomerate (SEK million) 30/06/2012 30/06/2011 31/12/2011
Shareholder's equity, Group 1,394.3 1,300.0 1,429.3
Plus debenture loan 175.7 175.7 175.7
Less assumed div idend for the current financial year -29.0 -53.8 -113.8
Less intangible fixed assets and deferred tax receiv ables -495.5 -536.5 -513.3
Capital base 1,045.5 885.4 977.9
Capital requirement for regulated units within the banking and securities sector 499.7 488.9 465.8
Theoretical solv ency requirement for non-regulated units in the largest financial sector 2.1 2.1 1.6
Capital requirement for regulated units within the insurance sector 30.7 25.9 26.0
Capital requirement 532.5 516.9 493.4
Capital surplus 513.0 368.5 484.5
Capital coverage ratio 1.96 1.71 1.98

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strategic priorities
• Most satisfied customers
• Strong brand leading bank for
savings in the
nordic region
• Improved profit levels

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more information:
org.nordnet.se
become a customer:
nordnet.se/no/fi/dk