– 2022 was in many ways a historic and dramatic year with war in Europe, a deteriorating security situation in the Nordic region, high inflation, rising interest rates and stock markets that lost value. However, Nordnet’s business model guarantees high revenues and good profitability in various types of macroeconomic environments, thanks to the breadth of both the product range and geographical spread. Despite the negative sentiment during the year, we have had strong customer growth, high net savings and good financial development. Our result for 2022 amounts to SEK 2.1 billion – the second best in Nordnet’s history, says Lars-Åke Norling, CEO of Nordnet.
Highlights during the year
- Second best full-year result to date, profit before tax of SEK 2.1 billion.
- Higher interest rates contributed to net interest income of SEK 1.3 billion, an increase of 76 percent compared with 2021.
- Our customer base now totals over than 1.7 million Nordic savers.
- Nordnet’s customers had net savings of more than SEK 36 billion and made 56.2 million trades.
- In April, Nordnet received a license from Finansinspektionen (Swedish Financial Supervisory Authority) for the new fund company Nordnet Fonder AB. Total savings capital in mutual funds under the Nordnet brand amounts to SEK 31.7 billion at the end of the year.
- Launch of residential mortgages in Norway, electronic trading on the London Stock Exchange, an improved login procedure in Denmark, Norway and Finland, and simpler transfers via Trustly in Sweden.
- In Finland, we reached the milestone of 300,000 equity savings accounts (“osakesäästötili”), corresponding to a market share of 69 percent.
- Nordnet was named “Bank of the Year” by magazine Privata Affärer.
Financial results in brief, January-December 2022
- Operating income decreased by 7 percent, amounting to SEK 3,382.1 (3,638,5) million.
- Adjusted operating profit decreased by 14 percent to SEK 2,115.3 (2,451.2) million.
- Savings capital amounted to SEK 715 billion (802) as of 31 December 2022.
- The customer base increased with 10 percent to 1,707,800 (1,601,000) customers.
- Net savings amounted to SEK 36.2 (83.4) billion.
Sustainability results in brief, January-December 2022
- Nordnet’s greatest impact on the climate is via our customers’ investments. We have therefore introduced a new measure for our platform’s climate impact in the form of the carbon footprint of our savers’ assets. At the end of the year, the investments on the platform measured in emission intensity were 124 kg CO2e/kSEK.
- 75% of fund capital is invested in green funds (Article 8 or 9 under SFDR) and 91% of fund clients hold green funds in their portfolios.
- 38% of new customers in 2022 are women, compared to 33% of the customer base.
- New KPI’s set in the area of sustainable savings. In our interim reports, we report the proportion of capital invested in funds that are either classified as light or dark green, the proportion of capital invested in funds that are only classified as dark green (sustainable) funds, and the proportion of female customers in Nordnet.
- The gender distribution among employees at Nordnet is unchanged at 36 percent women and 64 percent men. The proportion of women in new recruitments has decreased by five percentage points to 35 percent.
- Nordnet’s greenhouse gas emissions amounted to 163 tons; an increase of 34 percent compared with 2021. Compensation is made for 110 percent of the emissions.
- Through the Re:turn initiative, together with our main owner Öhman, we have donated SEK 5.6 million during the year to organizations that work to solve challenges linked to the environment and climate.
This disclosure contains information that Nordnet is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 16-03-2023 08:00 CET.