January-June Presentation, 19 July 2016

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1 January-June 2016 Presentation, 19 July 2016

2 Financial overview April June 2016 Operating income decreased by 1 percent to SEK million (297.6) Profit after tax for the period fell by 20 percent to SEK 68.5 million (85.3) Earnings per share before and after dilution were down 20 percent to SEK 0.39 (0.49) January June 2016 Operating income decreased by 5 percent to SEK million (625.3) Profit after tax for the period fell by 28 percent to SEK million (193.9) Earnings per share before and after dilution were down 27 percent to SEK 0.81 (1.11) 2

3 Highlights Launch of Sweden s cheapest mortgage Appointed Stockbroker of the Year by Dansk Aktionærforening and Bedst i test by Tænk Penge magazine Strong growth in lending, volume has risen by 23 percent in twelve months Introduction of a get started-account on the Swedish market, with free trading for new savers 3

4 Development of the business

5 Customers and accounts 700,000 Customers 12M: +60,700 / 13% Accounts 12M: +84,700 / 14% 600, , , , , ,000 0 Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Customers Accounts 5

6 Net savings and savings capital (SEK billion) Net savings, BSEK Savings capital, BSEK Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Net savings Adjusted for SoP 40 0 Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Calculated in relation to savings capital at the end of June 2015, net savings for the past 12 months correspond to 6 %, adjusted for Söderberg & Partners 9%. 6

7 Trades and traded value 7,000 Trades (thousands) Traded value (MSEK) 6,000 5,000 4,000 3,000 3,230 4,062 4,907 4,392 4,799 5,734 5,894 5, , , , , , ,300184, , , , ,700 2, ,000 1,000 50,000 0 Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 0 Q3 14 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Traded value relates to customers trading on cash markets, e.g. shares warrants, ETFs, certificates, bonds.

8 Lending (SEK billion) Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Margin lending Personal loans Mortgage 8

9 Financials

10 Revenues (SEK million) M: SEK 1,208 million Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 Net interest income Net commission income Other income 10

11 Costs (SEK million incl. credit losses) M: SEK 818 million Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 11

12 Operating profit (SEK million) Operating profit 12M: SEK 387 million 45% 40% % 30% 25% 20% 15% 40 10% 20 5% 0 Q3 Q4 Q1 15 Q2 Q3 Q4 Q1 16 Q2 0% Operating profit Operating margin 12

13 Nordnet in the Nordics, Jan-Jun 2016 Savings capital (SEK billion) Customers NO, DK, FI share of total 51% SE NO DK FI NO, DK, FI share of total 52% 134,800 SE 250,700 NO 62,100 DK FI 22 75,600 Revenue (SEK million) Operating profit (SEK million) 8.4 NO, DK, FI share of total 48% SE NO DK FI NO, DK, FI share of total 44% SE NO DK FI 13

14 Income statement Consolidated Income Statement (SEK million) Apr-Jun 2016 Apr-Jun 2015 Jan-Jun 2016 Jan-Jun 2015 Jul-Jun 2016 Jan-Dec 2016 Net interest income Net commission income Other income Total operating income , ,238.1 General administrative expenses Depeciation and amortization Other operating expenses Total operating expenses Profit before credit losses Net credit losses Operating profit Tax on profit for the period Profit for the period Earnings per share before dilution Earnings per share after dilution

15 Balance sheet Consolidated Balance Sheet (SEK million) 30/06/ /06/ /12/2015 Assets Loans within Centralbanksn hos central banks Loans to credit institutions Loans to the general public 8, , ,278.1 Financial assets at fair value Financial assets avalibale for sale 12, , ,181.2 Financial assets held to maturity 3, , ,381.6 Financial assets - policy holders bearing the risk 37, , ,995.1 Tangible and intangible fixed assets Current tax assets Other assets 3, , ,440.0 Prepaid expenses and accrued income Total assets 65, , ,213.3 Liabilities Liabilities to credit institutions Deposits and borrowing by the public 23, , ,605.4 Liabilities to policyholders 37, , ,996.2 Other liabilities 3, , ,341.2 Total liabilities 64, , ,339.3 Equity Share capital Other capital contributions Other provisions Accrued profit including profit for the period 1, , ,329.6 Total shareholders' equity attributable to shareholders of the Parent Company 1, , ,870.1 Non-controlling interest Total equity 1, , ,874.0 Total liabilities and equity 65, , ,

16 Capital requirements Capital requirements for the consolidated situation (SEK million) 30/06/ /06/ /12/2015 Total equity, Group 1, , ,746.4 Less, profit that have not been subject to audit Less requirements on prudent valuation Less expected dividend for current year Less intangible fixed assets and deferred tax receivables Tier 1 capital 1, , ,140.6 Plus subordinated liablities Tier 2 capital Capital base 1, , ,140.6 Risk exposures Exposyure to credit risk according to the standardized method 5, , ,435.2 Exposure market risk Exposure operational risk 1, , ,957.4 Total exposure 7, , ,415.0 Capital ratio 16.2% 14.8% 15.4% 16

17 Next at Nordnet

18 Next at Nordnet Maintained or lower cost level going forward Continue to execute on our growth strategy Grow lending business Focus on enhanced user experience 18

19 Contact us More information nordnetab.com Follow (IR) nordnetbloggen.se Become a customer nordnet.se/no/dk/fi Social investment network shareville.se/no/dk/fi 19

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