Today Nordnet publishes its Interim Report for January-March 2020. The full report is available at nordnetab.com.
- The corona situation made the first quarter of 2020 a very special period, and we are all affected on a personal as well as a professional level. From our perspective, I can see that there has been a great interest among private individuals to start saving in stocks and funds. Our customer inflow during the first quarter reaches a new record level. In total, we have welcomed almost 90,000 new savers to Nordnet, and in March we reached the milestone of one million customers. The activity from the private savers is high on all fronts – the number of trades ends up at over 14 million, which is more than twice as much as the first quarter of 2019, and net savings are almost 24 billion, which exceeds savings for the entire 2019, says Lars-Åke Norling, CEO at Nordnet.
- From a financial perspective, the first quarter became a strong period for Nordnet. Our revenues come in at SEK 644 million, while costs are in line with last year. Overall, we can show a profit before tax of SEK 367 million, which is the best quarterly result in Nordnet's history, says Lars-Åke Norling, CEO at Nordnet.
Highlights during the quarter
- 90,000 new customers during the quarter, and now more than total 1 million savers with Nordnet
- High trading activity in all markets
- Success for the new equities savings account in Finland
- High net savings, but reduced savings capital as a result of a stock market decline
- Take-over of online customers from Finnish S-Pankki
- Record-breaking financial earnings
Financial results in brief, January-March 2020 (January-March 2019)
- Operating income increased by 60 percent, amounting to SEK 644.2 million (402.5)
- Operating profit increased by 185 percent to SEK 367.1 million (129.0)
- Profit after tax rose by 153 percent to SEK 301.3 million (118.9)
- The number of new customers increased by 88,800 during the quarter
- Net savings amounted to SEK 23.8 billion (7.0)
This information is information that Nordnet AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on April 24, 2020.
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Nordnet is a digital bank for savings and investments and we operate in Sweden, Norway, Denmark and Finland. With user-friendliness, availability, a broad offering and low prices, we give our customers the opportunity to achieve their savings ambitions. Visit us at www.nordnetab.com, www.nordnet.se, www.nordnet.no, www.nordnet.dk or www.nordnet.fi.