Nordnet today publishes its Year-end Report for 2024. The full report is available at www.nordnetab.com
"The fourth quarter was a very strong financial period for Nordnet. With SEK 1,374 million in income, we achieved our highest level to date for an individual quarter, mainly explained by high income from share trading and fund savings. On the bottom line, we are able to present an adjusted operating profit for the quarter of SEK 919 million, the highest in Nordnet's history. In 2024, a quarter of a million Nordic private individuals started saving on Nordnet's platform, and customer growth on an annual basis is a respectable 14 percent, excluding the divestment of the unsecured lending portfolio. During the quarter we received high rankings in SKI/EPSI - the Nordic region's leading customer quality assessment surveys. In the annual survey of companies in the savings sector, Nordnet's ratings rose in all markets, ranking first in Denmark and Finland, and second in Sweden and Norway", says Lars-Åke Norling, CEO of Nordnet.
"Our strategy from a product perspective is to establish a one-stop shop for savings and investments, thereby creating a complete experience from a saver's perspective. With the launch of Livrente this autumn, that goal has overall been achieved. The time is now right to expand to yet another geographical market. I can therefore announce that Nordnet will establish operations in Germany the next year", says Lars-Åke Norling, CEO of Nordnet.
Highlights during the quarter
- Revenue and profit reached record levels, both in the quarter and full year.
- The highest customer growth and net savings in three years.
- Good trading activity with a high mix of cross border trading.
- Danish Livrente pension launched - unlocking an addressable market of SEK 2 trillion.
- Announcing the launch of a fifth market - Germany.
- Full-year adjusted operating expenses rose 7.7%, excluding increased marketing.
- Medium term targets updated - more investment for higher growth.
- The Board intends to propose a dividend of SEK 8.10 per share, just over 70 percent of net profit, in line with dividend policy.
Financial results in brief, October-December 2024 (October-December 2023)
- Adjusted operating profit SEK 919 (830) million
- Adjusted operating income SEK 1,316 (1,189) million
- Adjusted operating expenses SEK -391 (-335) million
- Earnings per share after dilution SEK 2.56 (2.55)
Presentation to analysts, shareholders and the media
CEO Lars-Åke Norling, CFO Lennart Krän and Head of IR Marcus Lindberg will present the report and answer questions on Tuesday 28 January at 10.00 CEST via Zoom. The presentation will be held in English.
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 28-01-2025 08:00 CET.
For more 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.
