Nordnet AB (publ) today publishes its interim report for the first quarter 2023. The full report is available at www.nordnetab.com.
”Nordnet has had a very strong start to the year. Our income for the period amounted to SEK 1,134 million, the highest to date for an individual quarter. The improved mood among savers has resulted in higher trading activity compared to the end of the last year, setting a positive trend for our trading-related income. Net interest income greatly improved compared with the first quarter of the previous year with higher interest rates contributing to an improved return on both the liquidity- and lending portfolio. Nordnet has good customer growth and positive net savings. During the quarter roughly 43,000 new savers chose Nordnet as their financial partner and a total for seven billion SEK was put onto the platform. My thanks to all employees, customers, partners, shareholders, as well as to all of you who follow and interact with us on a daily basis. Our success is built on your commitment”, says Lars-Åke Norling, CEO of Nordnet.
Highlights during the quarter
- Good customer growth and positive net savings
- Gradual recovery in trading activity despite continued macro uncertainty
- A strong quarter from a financial perspective with record-high income and the second highest net profit in Nordnet’s history
- Continued good cost control with expenses in line with financial targets
- Higher interest rates drove growth in net interest income – almost three times higher than the first quarter of 2022
- Many new customer features launched including the integration of Quartr, digital pension transfer in Sweden, and easier transfers via Trustly in Norway.
Financial results in brief, January-March 2023 (January-March 2022)
- Adjusted operating profit of SEK 794 (580) million
- Operating income of SEK 1,134 (890) million
- Adjusted operating expenses of SEK -320 (-297) million
- Earnings per share after dilution of SEK 2.49 (1.94)
Presentation for investors, analysts and media
CEO Lars-Åke Norling and CFO Lennart Krän will present the report and answer questions on 25 april 2023 at 10 am CET via Zoom. The presentation will be held in English. Please register 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 25-04-2023 08:00 CET.
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Nordnet is a pan-Nordic leading digital platform for savings and investments. Through innovation, simplicity and transparency, we challenge traditional structures, and give private savers access to the same information, tools and services as professionals. Visit us at www.nordnetab.com, www.nordnet.se, www.nordnet.no, www.nordnet.dk or www.nordnet.fi.