– Today we can present a record quarter for Nordnet, in all aspects. The conclusion of 2020 was characterized by a continued strong interest in savings and investments, which combined with an improved user experience has led to strong growth in our business. During the period October-December, we welcomed almost 100,000 new customers to Nordnet, which is the highest number ever in a single quarter. Net savings and number of trades are also at new peak levels. Our strong growth and high level of activity combined with good cost control mean that we are wrapping up a fantastic quarter from a financial perspective. The adjusted profit before tax amounted to SEK 473 million, which is nearly 300 percent better than the same quarter of the previous year says Lars-Åke Norling, CEO of Nordnet.
Highlights during the quarter
- Nordnet is listed on the Stockholm Stock Exchange – the first day of trading was 25 November
- A high level of interest in investments in shares and funds is leading to a record-high inflow of savings and new customers to Nordnet’s platform
- Trading record and the Nordic region’s largest broker – highest trading volume on Nordic stock exchanges in 2020
- New peak levels for savings capital and lending
- Continued development of user experience and product range– digital occupational pension, paperless process for residential mortgages, and advisory tools on the site for fund savings launched during the quarter
- High income and cost control provide the best financial results in Nordnet’s history – adjusted profit before tax of SEK 473 million
- Proposed dividend, SEK 1.51 per share
Financial results in brief, October-December 2020 (October-December 2019)
- Adjusted operating profit amounts to SEK 473.1 million (123.3)
- Operating income amounts to SEK 767.1 million (428.2)
- Adjusted operating expenses amounts to SEK 286.9 million (295.2). Operating expenses have been charged by SEK 99 million related to Nordnet’s IPO.
- Net savings for the quarter amounts to SEK 35.2 billion (7.3). Savings capital amounts to SEK 565 billion (394).
- Number of trades amounts to 16.5 million (7.6)
Financial results in brief, January-December 2020 (January-December 2019)
- Adjusted operating profit amounts to SEK 1,575.9 million (376.8)
- Operating income amounts to SEK 2,678.7 million (1,573.4)
- Adjusted operating expenses amounts to SEK 1,064.1 million (1,097.1)
- Net savings for the period amounts to SEK 82.1 billion (20.9)
- Number of trades amounts to 58.5 million (28.4)
Presentation to analysts, shareholders and the media
CEO Lars-Åke Norling and CFO Lennart Krän will be presenting the report and answering any questions on Thursday February 4 2021 at 10.00 a.m. CET via Zoom. The presentation will be made in English and can be followed here.
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 February 4, 2021.