– The first quarter of the year was a dramatic period in several different ways. Naturally, Russia’s invasion of Ukraine placed humanitarian, political and financial considerations high on the agenda. Despite the challenging circumstances in the world, Nordnet’s operations developed positively during the quarter, with strong underlying growth. Net savings reach as high as SEK 21 billion and our loan portfolio achieved a new record high. In conclusion, with an adjusted operating profit of SEK 580 million, we are able to deliver our second-best quarterly result to date. We are very grateful for the trust of the Nordic savers and continue to work every day towards the vision of building the best platform for savings and investments, says Lars-Åke Norling, CEO of Nordnet.
Highlights during the quarter
- Adjusted operating profit of SEK 580 million – the second highest in Nordnet’s history.
- 63,600 new customers during the quarter (excluding customer relationships terminated within the framework of customer awareness projects).
- Strong net savings and high level of trading activity.
- New record high volumes for Nordnet’s loan products of SEK 26.5 billion.
- Functionality launched for digital transfer of shares and mutual funds from other banks to Nordnet.
- Our Danish equity savings account named “Best in test” by the Danish Consumer Council – Nordnet holds a 23 percent market share for this account format.
- Swedish Financial Supervisory Authority grants permit for Nordnet’s new mutual fund company in early April.
Financial results in brief, January-March 2022 (January-March 2021)
- Adjusted operating profit SEK 580.2 (829.6) million
- Operating income SEK 886.8 (1,113.8) million
- Adjusted operating expenses SEK -297.1 (-279.9) million
- Earnings per share after dilution 1.94 (2.62) SEK
Presentation to analysts, shareholders and the media
CEO Lars-Åke Norling and CFO Lennart Krän will present the report and answer questions on Thursday 28 April 2022 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 28-04-2022 08:00 CET.