“For January-March, we can present an operating profit of SEK 985 million, which is 11 percent higher than the corresponding period last year and marks the best quarterly result in Nordnet’s history. Revenue increased by 11 percent to near SEK 1.4 billion, driven by strong growth of new customers and savings, which combined with high market activity led to an increase in both income from stock trading and income from fund savings”, says Lars-Åke Norling, CEO of Nordnet.
“Close to 70,000 customers started saving on Nordnet’s platform during the first quarter, and net savings amounted to SEK 25 billion – both figures are the highest in four years. With an annual customer growth of 14 percent and an average savings capital per customer of nearly SEK 480,000, we are well within the scope of our customer-related financial targets”, says Lars-Åke Norling, CEO of Nordnet.
Highlights during the quarter
- Record levels for both revenue and profit.
- Customer growth and net savings reached the highest level for a quarter in four years.
- Turbulent stock market drives trading activity, but falling valuations reduce savings capital.
- Positive net savings and dividends lead to increased deposits.
- Decline in net interest income due to lower interest rates.
- Good start for Livrente – SEK 1.6 billion in net savings in Danish pension products during the quarter.
- Operating expenses for the quarter increased by 13 percent, excluding investments in Germany – full-year expenses are expected to be in line with financial targets.
- First buyback program of SEK 500 million completed, and application for a new program submitted to the Swedish Financial Supervisory Authority.
Financial results in brief, January-March 2025 (January-March 2024)
- Operating profit SEK 985 (884) million
- Operating income SEK 1,396 (1,263) million
- Operating expenses SEK -407 (-353) million
- Earnings per share after dilution SEK 3.13 (2.74)
Presentation to analysts, shareholders and the media
CEO Lars-Åke Norling, CFO Lennart Krän and Head of IR Marcus Lindberg will present the report and answer questions on Thursday 24 April at 10.00 CEST via Zoom. The presentation will be held in English and can be viewed by registering here.
This 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. CEST on 24 April 2025.