This document provides a financial overview and key metrics for Nordnet AB for the periods of January-June 2013 and April-June 2013. Some key points:
- Operating income and profit after tax decreased slightly in January-June 2013 compared to the same period in 2012.
- Operating income and profit after tax increased in April-June 2013 compared to the same period the previous year.
- Nordnet acquired the social investing network Shareville and received awards in Denmark and Finland.
- Active customer and account numbers continued growing year-over-year, as did net savings, trades, and lending on the platform.
1. January – June 2013
July 17, 2013
» Report presentation «
2. financial overview
January – June 2013
• Operating income decreased by 3 percent to SEK 482.3 million (498.3)
• Profit after tax fell by 2 percent to SEK 112.1 million (113.9)
• EPS before dilution were down by 2 percent to SEK 0.64 (0.65)
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April – June 2013
• Operating income increased by 2 percent to SEK 238.2 million (233.4)
• Profit after tax increased by 33 percent to SEK 54.9 million (41.3)
• EPS before dilution were up by 33 percent to SEK 0.31 (0.24)
3. events Q2
• Nordnet acquired the majority of the social investing network Shareville
• “Bank/Stockbroker of the Year” in Denmark for the fifth consecutive year
• Removal of purchase and redemption fees on all funds on our Finnish platform
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+
a pioneer in social investing
11. income statement (SEK million)
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3 months 3 months 6 months 6 months 12M rolling 12 months
Consolidated Income Statement (SEK million) Apr-Jun 2013 Apr-Jun 2012 Jan-Jun 2013 Jan-June 2012 Jul-Jun 2013 Jan-Dec 2012
Net interest income 119.5 132.3 238.4 269.6 489.4 520.6
Net commission income 91.0 80.6 192.3 187.7 348.8 344.2
Other income 27.7 20.5 51.6 40.9 84.3 73.6
Total operating income 238.2 233.4 482.3 489.3 922.4 938.4
General administrative expenses -132.7 -141.2 -269.1 -276.9 -554.4 -562.3
Depeciation and amortization -16.5 -15.8 -32.4 -31.3 -64.2 -63.2
Other operating expenses -9.6 -11.6 -20.5 -21.7 -39.8 -41.1
Total operating expenses -158.8 -168.7 -321.9 -330.0 -658.4 -666.5
Profit before credit losses 79.4 54.7 160.3 168.2 264.0 271.9
Net credit losses -11.5 -11.8 -22.0 -22.8 -43.9 -44.7
Operating profit 67.9 52.9 138.3 145.5 220.1 271.9
Tax on profit for the period -13.0 -11.6 -26.3 -31.6 -32.9 -44.7
Profit for the period 54.9 41.3 112.1 113.9 187.1 227.2
Earnings before dilution 0.31 0.24 0.64 0.65 1.07 1.08
12. balance sheet (SEK million)
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Consolidated Statement of Financial Position (SEK million) 30/06/2013 30/06/2012 31/12/2012
Loans to credit institutions 1089.6 1,134.7 1465.0
Loans to the public 5359.7 4,977.4 4737.3
Financial assets 7415.6 5801.9 5388.0
Financial assets - policy holders bearing the risk 21195.9 18,043.1 18961.7
Tangible and intangible assets 504.4 527.2 507.1
Current tax assets 72.3 2.6 7.2
Other assets 905.1 409.9 213.9
Prepaid expenses and accrued income 116.7 111.4 111.8
Total assets 36,659.2 31,008.2 31,391.9
Deposits and borrowing by the public 11,694.7 10,570.6 10,487.7
Liabilities to policyholders 21,196.5 18,044.0 18,962.3
Other liabilities 2269.8 958.0 427.9
Shareholders' equity 1498.2 1435.6 1514.0
Total liabilities and shareholders' equity 36,659.2 31008.2 31391.9
13. capital coverage (SEK million)
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Capital requirements for the financial conglomerate (SEK million) 30/06/2013 30/06/2012 31/12/2012
Total equity, Group 1,498.2 1,435.6 1,514.0
Less, profit that have not been subject to audit -112.1 -41.3 -
Plus subordinated liablities 175.7 175.7 175.7
Less expected dividend for current year - -29.0 -122.5
Less intangible fixed assets and deferred tax receivables -471.0 -495.5 -475.3
Capital base 1,090.9 1,045.5 1,091.9
Capital requirement for regulated units within the banking
and securities sector
520.9 499.7 444.2
Theoretical solvency requirement for non-regulated units in
the largest financial sector 0.9
2.1 0.8
Capital requirement for regulated units within the insurance
sector 31.9
30.7 32.2
Capital requirement 553.7 532.5 477.2
Capital surplus 537.2 513.0 614.7
Capital coverage ratio 1.97 1.96 2.29
14. looking ahead
• Continue to build our position as the leading online bank in the Nordics
• Focus on innovation and social investing
• Provide superior digital customer experience
• Active cost management and a scalable operating model
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