Financials

Financials.

Reports

Here you find all our interim reports, annual reports and presentations. You can also download our Excel sheet with financial data and key figures.

Download Nordnet's monthly statistics in Excel here. Our latest company presentation is available to download here.

 
Jan - Mar Interim report
ReportFile
PresentationFile
Audio/VideoFile
Key dataFile
 ReportPresentationAudio/VideoCapital AdequacyKey data
Jan - Mar Interim reportFileFileFileFile

Financial targets

This section presents Nordnet's medium-term financial targets.

  • Annual customer growth of 13-15 percent.
  • Average savings capital per customer (defined as the average quarterly savings capital per customer over the past 12 months) of around SEK 500,000.
  • Income in relation to savings capital (defined as income adjusted for items affecting comparability over the past 12 months in relation to the average quarterly savings capital for the same period) of around 0.45 percent.
  • Annual increase of adjusted operating expenses by about 8 percent. In addition, Nordnet intends to spend approximately SEK 60 million on the launch in Germany in 2025, ramping up to an annual level of approximately SEK 100 million from 2028.
  • Nordnet intends to distribute 70 percent of its annual profit in dividends.

Financial overview

Consolidated income statement, SEK million 2024 2023 2022 2021 2020 2019 2018
Net commission income 2,405 1,868 2,029 2,730 2,021 940 870 ˅
Net interest income 2,656 2,639 1,281 727 613 514 396 ˅
Net result of financial transactions -3 -8 -9 18 -14 66 4 ˅
Other operating income 36 50 81 164 69 70 59 ˅
Operating income 5,094 4,550 3,382 3,639 2,689 1,589 1,329 ˅
˅
General administrative expenses -1,149 -1,072 -1,065 -918 -992 -948 -950 ˅
Depreciation, amortization and impairments -202 -180 -172 -163 -158 -174 -106 ˅
Other operating expenses -105 -48 -54 -61 -44 -40 -78 ˅
Operating expenses -1,646 -1,300 -1,291 -1,141 -1,193 -1,162 -1,133 ˅
Net credit losses -66 -80 -43 -36 -39 -34 -36 ˅
Imposed levies: Resolution fees -13 -11 -13 -10 -10 -16 -19 ˅
Operating profit 3,560 3,160 2,034 2,451 1,447 377 141 ˅
Tax -669 -582 -382 -467 -274 -38 -23 ˅
Net profit 2,814 2,579 1,652 1,985 1,173 339 118 ˅
Earnings per share before dilution, (SEK) 10.84 9.83 6.35 7.79 4.55 1.25 0.47 ˅
Earnings per share after dilution, (SEK) 10.85 9.83 6.33 7.75 4.55 1.25 0.47 ˅
˅
Items affecting comparability, income 58 66 ˅
Items affecting comparability, expenses -191 0 -81 0 -129 -65 -16 ˅
Adjusted operating expenses before credit losses -1,455 -1,300 -1,210 -1,141 -1,064 -1,097 -1,117 ˅
Adjusted operating profit 3,560 3,160 2,115 2,451 1,576 377 157 ˅
Adjusted earnings per share before dilution (SEK) 11.54 9.83 6.70 7.79 4.96 1.20 0.52 ˅
Adjusted earnings per share after dilution (SEK) 11.56 9.83 6.67 7.75 4.96 1.20 0.52 ˅

 

Key figures

2024 2023 2022 2021 2020 2019 2018
Adjusted operating income in relation to savings capital - rolling 12 months % 0.54% 0.59% 0.46% 0.53% 0.61% 0.44% 0.45% ˅
Adjusted operating expenses in relation to savings capital - rolling 12 months % 0.15% 0.17% 0.17% 0.17% 0.24% 0.32% 0.38% ˅
Operating margin % 68% 69% 60% 67% 54% 24% 11% ˅
Adjusted operating margin % 70% 69% 63% 67% 59% 25% 12% ˅
Cost/income % 32% 29% 38% 31% 44% 73% 85% ˅
Adjusted cost/income % 29% 29% 36% 31% 40% 72% 84% ˅
Profit margin % 55% 57% 49% 55% 44% 21% 9% ˅
Return on equity - rolling 12 months % 41% 45% 34% 44% 37% 12% 6% ˅
Adjusted return on equity - rolling 12 months % 43% 45% 36% 44% 40% 13% 7% ˅
˅
Customers 2,096,400 1,862,900 1,707,800 1,601,000 1,221,500 913,600 765,200 ˅
Annual customer growth % 13% 9% 7% 31% 34% 19% 14% ˅
Net savings (SEK billion) 72.9 34.7 36.2 83.4 82.1 20.9 23.5 ˅
Savings ratio % 9% 5% 5% 15% 21% 7% 9% ˅
Savings capital (SEK billion) 1,032 825 715 802 565 395 286 ˅
of which shares/derivatives/bonds 704 573 490 573 404 268 185 ˅
of which funds 259 184 144 154 100 82 57 ˅
of which deposits 70 67 81 74 60 45 43 ˅
Average savings capital per customer - 12 months rolling (SEK) 476,000 434,800 443,800 477,000 415,900 409,100 411,800 ˅
Lending (SEK billion) 28.8 29.5 27.3 25.4 19.7 15.6 13.7 ˅
of which margin lending [1] 17.6 14.3 12.3 12.4 9.2 7.1 5.6 ˅
of which mortgages 11.1 11.3 10.9 8.9 6.5 4.5 4.2 ˅
of which personal loans - 3.9 4.1 4.1 4.0 4.1 ˅
˅
Investments in tangible assets (SEK million) 49 37 24 46 12 46 84 ˅
Investments in intangible assets excl. company acquisitions (SEK million) 195 180 137 121 93 91 112 ˅
˅
Number of full-time equivalents at end of period 797 735 666 648 571 494 494 ˅

[1] Lending excluding pledged cash and equivalents.

Nordnet Additional Tier 1 Capital

AT1 2021

Nordnet AB (publ) has 2021-11-16 issued Additional Tier 1 Capital (AT1) amounting to SEK 600 million. The bond is perpetual, with a first call date after five years. The interest rate is 3 months Stibor + 3.90 percent. The instruments will be listed at Nasdaq Stockholm.

Read more about the bond in the presentation and terms.

Prospect
Nordnet AB (publ) prospectus

AT1 2023

Nordnet AB (publ) has on 7 February, 2023 issued Additional Tier 1 Capital (AT1) amounting to SEK 300 million. The bond is perpetual, with a first call date after five years. The interest rate is 3 months Stibor + 5.00 percent. The instruments will be listed at Nasdaq Stockholm.

Read more about the bond in the presentation and terms.

Prospect
Nordnet AB (publ) prospectus