“Despite challenging environmental factors, our fourth quarter financial results are very strong. Nordnet’s operations are well diversified from both a geographic and product perspective, ensuring high revenue and good profitability in a variety of macroeconomic environments. Revenue from equity trading and mutual fund savings in the fourth quarter decreases compared to the same period last year but are more than compensated for by a higher net interest income. Total revenue for the period amounted to SEK 952 million, which, combined with continued good cost control, allows us to present an adjusted operating profit of SEK 624 million for the fourth quarter – the second highest in Nordnet’s history, says Lars-Åke Norling, CEO of Nordnet. “
Highlights during the quarter
- Good customer growth and positive net savings, while continued stock market uncertainty leads to lower trading activity.
- Strong quarter financially with the second-highest income and net profit in Nordnet’s history.
- Continued good cost control, with expenses in line with the financial targets for the quarter and the full year.
- Higher interest rates had a positive impact on net interest income, which rose by 172 percent compared to the fourth quarter of 2021.
- Nordnet was named Bank of the Year 2022 by magazine Privata Affärer, and savings economist Frida Bratt was named Savings Profile of the Year.
- A large number of new customer features launched, including a dividend tracker, watchlists, an improved login and simpler transfers via Trustly.
Financial results in brief, October-December 2022 (October-December 2021)
- Adjusted operating profit SEK 624 (578) million
- Operating income SEK 952 (892) million
- Adjusted operating expenses SEK -314 (-299) million
- Earnings per share after dilution SEK 1.97 (1.82)
Presentation to analysts, shareholders and the media
CEO Lars-Åke Norling and CFO Lennart Krän will present the report and answer questions on Tuesday 31 January 2023 at 10.00 a.m. CET via Zoom. The presentation will be held in English and can be followed here.
This disclosure contains information that Nordnet is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 31-01-2023 08:00 CET.