Nordnet AB (publ) today publishes its interim report for the second quarter 2022. The full report is available at www.nordnetab.com.

- We leave behind us a quarter which was challenging in many ways for both the private savers and us as a company. Rampant inflation, higher interest rates, fear of an impending recession and geopolitical tension has led to the worst start of a year for the stock markets in a very long time. In this tough environment, I am proud that Nordnet is able to grow net savings and new customers every month. During the first half of the year, we grew our customer base by 90,000 customers and net savings by SEK 30 billion. Net commission income declined due to lower trading activity, but higher interest rates contributed to improved net interest income. Thanks to diversified revenue streams and strong cost control we managed to drive a net profit of one billion SEK during the first half of the year, of which SEK 420 million was in the second quarter, says Lars-Åke Norling, CEO of Nordnet.

- We have a high level of activity when it comes to product development, and we launched several new services for both lower engagement customers and more active customers. I would like to especially highlight electronic trading on the London Stock Exchange, the possibility for private savers to trade in dark pools, the first funds from our new fund company, and the digital tool "Nordnet One" which, in an easy way, helps private savers to start investing in funds, says Lars-Åke Norling, CEO of Nordnet.

Highlights during the quarter

  • Lower trading activity but underlying growth in the business - 30,100 new customers and more than SEK 8 billion in net savings.     
  • A new record level for Nordnet's lending products with SEK 26.7 billion in lending volume.
  • Licence recieved for Nordnet's new fund company, own funds launched in Sweden, Denmark and Finland.
  • A high level of activity in product development - the launch of Nordnet One, a user-friendly tool to get started with fund savings, and electronic trading on the London Stock Exchange.
  • Continued strong cost control.

Financial results in brief, April-June 2022 (April-June 2021)

  • Adjusted operating profit SEK 420.1 (535.7) million
  • Operating income SEK 727.8 (832.6)  million
  • Adjusted operating expenses SEK -295.7 (-283.5) million
  • Earnings per share after dilution 0.88 (1.72) 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 22 July 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 22-07-2022 08:00 CET.

For further information, please contact:
Johan Tidestad, Chief Communications Officer
johan.tidestad@nordnet.se, +46 708 875 775

Marcus Lindberg, Head of Investor Relations
marcus.lindberg@nordnet.se, +46 764 923 128

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.

https://news.cision.com/nordnet/r/nordnet-publishes-its-second-quarter-2022-interim-report,c3603940

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