– Our overall ambition is to become the Nordic private savers’ first choice. To achieve this goal, we have to offer a world-class user experience regarding interface, products and stability in the platform. In the third quarter, we launched our new web service in both Denmark and Finland. Notable among new functions are free real-time prices and five levels of order depth, a responsive interface and a number of new functions for sustainable savings, says Lars-Åke Norling, CEO at Nordnet.
– Our business is continuing to grow at a good pace, and the financial results for the period are strong. On the bottom line, we show a profit of SEK 81 million, which is more than 200 percent better than the same quarter last year. Behind this figure is a maintained cost level and a stable growth in customers and savings capital, which provides a higher revenue base. All of our markets show double-digit customer growth on an annualized basis, and for Nordnet as a whole, the increase in new savers in the past 12 months reached 19 percent, says Lars-Åke Norling, CEO at Nordnet.
Highlights during the quarter
- New site launched in Denmark and Finland
- Improved residential mortgage offering with a higher loan-to-value ratio and lower interest rate
- Named “Stock Broker of the Year” in Finland
- High customer growth and improved results
- Lars-Åke Norling new CEO from September
Financial results in brief, July-September 2019
- Operating income increased by 22 percent, amounting to SEK 371.4 million (305.4)
- Operating profit increased by 219 percent to SEK 92.3 million (28.9)
- Profit after tax rose by 207 percent to SEK 80.9 million (26.4)
- The number of new customers increased by 27,400 during the quarter
- Net savings amounted to SEK 4.2 billion (4.9)
Financial results in brief, January-September 2019
- Operating income increased by 19 percent, amounting to SEK 1,145,2 million (962.9)
- Operating profit increased by 203 percent to SEK 303.3 million (100.2)
- Profit after tax for rose by 228 percent to SEK 273.2 million (83.4)
- The number of new customers increased by 19 percent to 882,200 (741,800)
- Net savings amounted to SEK 13.6 billion (22.1)
This information is information that Nordnet AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. CET on 25 October 2019.