Q3 2025 Nordnet AB (publ) Earnings Call Transcript
Key Points
- Nordnet AB (publ) (FRA:9JL) reported strong customer growth, with a 13% increase year-on-year, and a 16% growth in savings capital.
- The company achieved record cross-border trading, driven by a growing customer base and positive market sentiment, particularly in Europe and the US.
- Nordnet AB (publ) (FRA:9JL) maintained a strong capital and liquidity position, with a liquidity to deposits ratio of 72% and a leverage ratio of 5.4%.
- The Nordnet app received the Red Dot Design Award, highlighting the company's focus on enhancing customer experience through new product launches.
- The company continues to benefit from diversified revenue streams, with growth in trading and fund businesses despite a decline in net interest income due to lower interest rates.
- Nordnet AB (publ) (FRA:9JL) experienced a decline in net interest income due to lower interest rates and the sale of its unsecured lending portfolio.
- Operating expenses increased by 13% year-on-year, with a significant portion attributed to investments in Germany and marketing efforts.
- The company faced a negative impact of SEK18 million from an error in handling a corporate action related to Wolfspeed's reverse split.
- Despite strong trading activity, net commission income remained flat quarter-on-quarter, raising concerns about the sustainability of trading margins.
- The company is facing increased competition in the market, which could impact its strategic expansion plans, particularly in Germany.
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Good morning and welcome to the presentation of Nordnet's third quarter for 2025. My name is Marcus Lindberg, and I'm the Head of Investor Relations at Nordnet. With me today, I have our CEO, Lars-Ake Norling; and our CFO, Lennart Kraen. Lars-Ake and Lennart will start off by presenting the results, and then we will have a Q&A session. (Event Instructions) The presentation itself is available on our corporate website, nordnetab.com.
Okay. Let's start the presentation. Lars-Ake, please go ahead.
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Thank you, Marcus. We can go to the next slide. So some highlights for the third quarter. It's a stable financial performance with continued growth in our core business, in line with our strong quarter two. We see positive net savings and also very good customer growth. Overall, strong trading activity with record cross-border trading, both from a growing
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