Financial targets
This section presents Nordnet's medium-term financial targets.
- Around 15 percent annual customer growth.
- Average savings capital per customer (defined as average quarterly savings capital per customer over the last twelve months) of around SEK 450,000.
- Income in relation to savings capital (defined as adjusted revenues in the last twelve months divided by the average quarterly savings capital over the same period) of around 0.45 percent.
- Yearly increase of adjusted operating expenses of around 5 percent.
- Nordnet intends to paying dividends 70 percent of net profit for the year.
Financial overview
Consolidated income statement, SEK million | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|
Net commission income | 2,730 | 2,021 | 940 | 870 | 803 |
Net interest income | 717 | 604 | 498 | 378 | 386 |
Net result of financial transactions | 18 | -14 | 66 | 4 | 0 |
Other operating income | 164 | 69 | 70 | 59 | 55 |
Operating income | 3,628 | 2,679 | 1,573 | 1,310 | 1,244 |
General administrative expenses | -918 | -992 | -948 | -950 | -865 |
Depreciation, amortization and impairments | -163 | -158 | -174 | -106 | -90 |
Other operating expenses | -61 | -44 | -40 | -78 | -53 |
Operating expenses | -1,141 | -1,193 | -1,162 | -1,133 | -1,009 |
Net credit losses | -36 | -39 | -34 | -36 | -35 |
Operating profit | 2,451 | 1,447 | 377 | 141 | 200 |
Tax | -467 | -274 | -38 | -23 | -33 |
Net profit | 1,985 | 1,173 | 339 | 118 | 167 |
Earnings per share before dilution, (SEK) | 7.79 | 4.55 | 1.25 | 0.47 | 0.67 |
Earnings per share after dilution, (SEK) | 7.75 | 4.55 | 1.25 | 0.47 | 0.67 |
Items affecting comparability, income | 66 | ||||
Items affecting comparability, expenses | -129 | -65 | -16 | -45 | |
Adjusted operating expenses before credit losses | -1,141 | -1,064 | -1,097 | -1,117 | -964 |
Adjusted operating profit | 2,451 | 1,576 | 377 | 157 | 245 |
Adjusted earnings per share pre amortization of intangible assets due to PPA before dilution (SEK) | 7.90 | 5.10 | 1.37 | 0.64 | 0.95 |
Adjusted earnings per share pre amortization of intangible assets due to PPA after dilution (SEK) | 7.86 | 5.10 | 1.37 | 0.64 | 0.95 |
Key figures
2021 | 2020 | 2019 | 2018 | 2017 | |
---|---|---|---|---|---|
Adjusted operating income in relation to savings capital - rolling 12 months % | 0.53% | 0.60% | 0.44% | 0.44% | 0.49% |
Adjusted operating expenses in relation to savings capital - rolling 12 months % | 0.17% | 0.24% | 0.32% | 0.38% | 0.38% |
Operating margin % | 68% | 54% | 24% | 11% | 16% |
Adjusted operating margin % | 68% | 59% | 25% | 12% | 20% |
Cost/income % | 31% | 45% | 74% | 86% | 81% |
Adjusted cost/income % | 31% | 40% | 73% | 85% | 77% |
Profit margin % | 55% | 44% | 22% | 9% | 13% |
Return on equity % | 44% | 37% | 13% | 7% | 10% |
Adjusted return on equity % | 44% | 40% | 13% | 7% | 10% |
Adjusted return on equity excl intangible assets % | 56% | 57% | 21% | 10% | 14% |
Customers | 1,601,000 | 1,221,500 | 913,600 | 765,200 | 669,300 |
Annual customer growth % | 31% | 34% | 19% | 14% | 18% |
Net savings (SEK billion) | 83.4 | 82.2 | 20.9 | 23.5 | 17.3 |
Savings ratio % | 15% | 21% | 7% | 9% | 7% |
Savings capital (SEK billion) | 802 | 565 | 395 | 286 | 272 |
of which shares/derivatives/bonds | 573 | 404 | 268 | 185 | 179 |
of which funds | 154 | 100 | 82 | 57 | 59 |
of which deposits | 74 | 60 | 45 | 43 | 34 |
Average savings capital per customer - 12 months rolling (SEK) | 477,000 | 415,900 | 409,100 | 411,800 | 414,900 |
Lending (SEK billion) | 25.4 | 19.7 | 15.6 | 13.7 | 11.4 |
of which margin lending [1] | 12.4 | 9.2 | 7.1 | 5.6 | 5.3 |
of which mortgages | 8.9 | 6.5 | 4.5 | 2.4 | 2.4 |
of which personal loans | 4.1 | 4.0 | 4.1 | 3.7 | 3.7 |
Investments in tangible assets (SEK million) | 46 | 12 | 46 | 84 | 29 |
Investments in intangible assets excl. company acquisitions (SEK million) | 121 | 93 | 91 | 112 | 88 |
Number of full-time equivalents at end of period | 648 | 571 | 494 | 494 | 465 |
[1] Lending excluding pledged cash and equivalents.
Nordnet Additional Tier 1 Capital
AT1 2019
Nordnet AB (publ) has 2019-03-14 issued Additional Tier 1 Capital (AT1) amounting to SEK 500 million. The bond is perpetual, with a first call date after five years. The interest rate is 3 months Stibor + 6.75 percent. The instruments will be listed at Nasdaq Stockholm.
Read more about the bond in the presentation and terms.
Annual reports
Year | Company | Organisation number |
---|---|---|
2018* | Nordnet AB (publ) | 559073-6681 |
2017** | NNB Intressenter AB (in Swedish) | 559073-6681 |
* Refers to Nordnet AB (publ), changed name from NNB Intressenter AB, org. reg. no.: 559073-6681
** Refers to NNB Intressenter AB, org. reg. no.: 559073-6681
AT1 2021
Nordnet AB (publ) has 2021-11-16 issued Additional Tier 1 Capital (AT1) amounting to SEK 600 million. The bond is perpetual, with a first call date after five years. The interest rate is 3 months Stibor + 3.90 percent. The instruments will be listed at Nasdaq Stockholm.
Read more about the bond in the presentation and terms.