Q2 2025 Nordnet AB (publ) Earnings Call Transcript
Key Points
- Nordnet AB (publ) (FRA:9JL) reported stable financial performance with revenue and profit in line with the previous year.
- The company experienced strong customer growth, with a 14% increase year-on-year, and savings capital growth of 10%, surpassing SEK 1 trillion.
- Nordnet AB (publ) launched eight new trading venues in Europe and introduced a new private banking tiering in Sweden, which has been well received.
- The company announced a new share buyback program and maintained a strong capital situation, enabling a 70% dividend payout.
- Nordnet AB (publ) has shown good scalability and cost control, with revenue growing at 25% per year since 2019, while costs have only increased by 7% annually.
- Net interest income declined due to low interest rate levels, although partially offset by higher deposits.
- Operating expenses, excluding Germany, increased by 9.7% due to marketing spend, with an expected full-year cost growth of around 8%.
- Net savings were lower this quarter compared to the previous year, attributed to existing customers transferring less money.
- The company faced a decline in trading revenue due to lower trading volumes and a decrease in cross-border trading.
- Fund revenue dipped in Q2 compared to Q1 due to market downturns and customer sell-offs, although fund capital levels have since recovered.
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Okay. Good morning, everyone, and welcome to the presentation of Nordnet's second quarter of 2025. My name is Markus Lindberg, and I'm the Head of Investor Relations at Nordnet. With me today, as usual, I have our CEO, Lars-Ake Norling; and our CFO, Lennart Kran. Lars-Ake and Lennart will start off by presenting the results, and then we'll have a Q&A session.
(Operator 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, Markus. We go to next slide. Starting with some key highlights. We have seen a stable financial performance with continued growth in core business and both revenue and profit in line with quarter two last year. Positive net savings and good customer growth overall and strong trading activity and continued robust
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