Avanza Bank Holding AB (publ): Interim Report January—June 2023
Rikard Josefson, CEO
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Finans |
| Industri | Nischbank |
Second quarter 2023 compared to second quarter 2022
- Operating income increased by 35 per cent to SEK 833 million. Net interest income was higher, mainly due to higher market interest rates. Fund commissions increased slightly. Net brokerage income and net currency-related income decreased as a result of lower trading activity
- Operating expenses increased by 6 per cent to SEK 287 million, mainly due to higher personnel costs. Costs for 2023 are, as previously communicated, estimated at a maximum of SEK 1,160 million
- Operating profit amounted to SEK 546 million, an increase of 58 per cent
- Profit for the period was SEK 472 million, an increase of 60 per cent
- Earnings per share before dilution amounted to SEK 3.02, an increase of 59 per cent
Events during the quarter
- Avanza Healthcare by Samuelsson & Hult was launched. An actively managed fund with a focus on identifying sustainable, high-quality companies with growth potential that are developing future treatments for a healthier world
- Ranked eighth in Sweden among all companies, and first in the financial sector, in Kantar Public’s reputation index for 2023
- Continued to rank on Allbright’s annual Green List of Sweden’s most gender diverse public companies
- Anders Karlsson took office as Chief Product and Technology Officer (CPTO) and member of Group Management
- Interim Report January–September 2023 will be published on 20 October 2023
Quote from Rikard Josefson, CEO Avanza
“Avanza delivered a stable profit despite a challenging macro environment. The net inflow in the quarter remained strong, which shows the competitiveness in Avanza’s offering and that our customers are still prioritising their savings despite tough times. The net inflow is the result of many individual customers’ persistent commitment to savings, and over time the net inflows are what will determine our success.”
| Q2 | Q1 | Change | Q2 | Change | Jan-Jun | Jan-Jun | Change | |
| 2023 | 2023 | % | 2022 | % | 2023 | 2022 | % | |
| Operating income, SEK m | 833 | 868 | –4 | 618 | 35 | 1,701 | 1,385 | 23 |
| Operating expenses, SEK m | –287 | –289 | –1 | –272 | 6 | –577 | –520 | 11 |
| Operating profit, SEK m | 546 | 579 | –6 | 345 | 58 | 1,125 | 865 | 30 |
| Profit for the period, SEK m | 472 | 501 | –6 | 296 | 60 | 973 | 739 | 32 |
| Earnings per share before dilution, SEK | 3.02 | 3.20 | –6 | 1.90 | 59 | 6.21 | 4.75 | 31 |
| Operating margin, % | 66 | 67 | –1 | 56 | 10 | 66 | 62 | 4 |
| Return on shareholders' equity, % | 37 | 38 | –1 | 26 | 11 | 39 | 32 | 6 |
| Net inflow, SEK m | 16,100 | 17,000 | –6 | 8,400 | 91 | 33,100 | 25,000 | 33 |
| No. of new customers (net) | 24,000 | 41,100 | –42 | 19,700 | 22 | 65,200 | 79,800 | –18 |
| No. of customers at the end of the period | 1,841,900 | 1,817,800 | 1 | 1,739,900 | 6 | 1,841,900 | 1,739,900 | 6 |
| Savings capital at the end of the period, SEK m | 736,900 | 715,700 | 3 | 652,700 | 13 | 736,900 | 652,700 | 13 |
| Income to savings capital ratio, % | 0.46 | 0.50 | –0.04 | 0.35 | 0.10 | 0.48 | 0.38 | 0.10 |
| Costs to savings capital ratio, % | 0.16 | 0.17 | –0.01 | 0.16 | 0.00 | 0.16 | 0.14 | 0.02 |
A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 14 July 2023 at 10.00 (CEST). The presentation will be held in English and there will be opportunities to ask questions. The presentation can be followed at avanza.se/ir. Further information and registration for participation is available at investors.avanza.se/en/ir/calendar/upcoming-events.
This Interim Report is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall prevail.
For further information please contact:
Rikard Josefson, CEO
+46 (0)70 206 69 55
rikard.josefson@avanza.se
Anna Casselblad, CFO
+46 (0)8 409 420 11
anna.casselblad@avanza.se
Sofia Svavar, Chief Communications & IR Officer
+46 (0)8 409 420 17
sofia.svavar@avanza.se
Avanza is a digital platform for savings and investments, founded in 1999. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza’s customer promise is that you as a customer will have more left in your own pockets than with any other bank or pension company. Services include saving in shares, funds, savings accounts, mortgages, and a strong pension offering. Avanza has more than 1.8 million customers with over SEK 700 billion in total savings capital. This is equivalent to nearly 7 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange. During the last thirteen years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: avanza.se/ir