Year-End report 2012February 8, 2013

» continued growth in customers and savings «

financial overview

January – December

• Operating income decreased by

13 percent to SEK 938.4 million

(1,084.2)

• Profit after tax fell by 30 percent to

SEK 188.9 million (270.1)

• EPS before dilution were down by

30 percent to SEK 1.08 (1.54)

October – December

• Operating income decreased by

14 percent to SEK 227.7 million

(266.2)

• Profit after tax fell by 9 percent to

SEK 53.0 million (58.6)

• EPS before dilution were down by

9 percent to SEK 0.30 (0.33)

events during Q4

• Continuous growth in consumer loans

• Günther Mårder new savings economist

• Pension inflow doubled two consecutive years

• Strong growth in fund savings

• Nordnetbloggen – the Nordic’s savings community

customers and accounts

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

Active customers Active accounts

12M: + 22,600 / + 7%

12M: + 38,800 / +10%

accounts/customer (Q4 2012): 1.21

net savings

5.2

1.1

2.0

1.0

3.6

1.9

0.1

1.3

0.0

1.0

2.0

3.0

4.0

5.0

6.0

Q1 Q2 Q3 Q4

2011 2012

12M: SEK 6.9 billion

trades (thousands)

4,175

3,100

4,185

3,8513,973

3,0552,841 2,871

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Q1 Q2 Q3 Q4

2011 2012

12M: 12,739

lending (billion SEK)

4.994.27

3.22 3.043.74

3.28 3.322.91

1.44

1.39

1.48 1.59

1.65

1.70 1.731.80

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

Margin lending Consumer loans

revenue development (SEK million)

134 139 132 142 137 132 126 126

13393

128 107 107

8179 77

24

20

1618 20

218

25

0

50

100

150

200

250

300

350

Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q412

Net interest income Net commission income Other income

cost development (SEK million incl. credit losses)

191

185

175

182

172

181179 179

160

165

170

175

180

185

190

195

Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

operating profit excl. eo items (SEK million)

99

67

101

93 93

53

42

49

0%

5%

10%

15%

20%

25%

30%

35%

40%

0

20

40

60

80

100

120

Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12

Operating profit Operating margin

12M: SEK 236 million

income statement (SEK million)

3 months 3 months 12 months 12 months

Consolidated Income Statement (SEK million) oct-dec 2012 oct-dec 2011 jan-dec 2012 jan-dec 2011

Net interest income 125.5 142.0 520.6 547.3

Net commission income 77.3 106.6 344.2 460.3

Other income 24.8 17.6 73.6 76.7

Total operating income 227.7 266.2 938.4 1,084.2

General administrativ e expenses -140.8 -139.5 -562.3 -568.5

Depreciation and amortization -16.1 -15.7 -63.2 -69.3

Other operating expenses -9.9 -18.6 -41.1 -54.1

Total operating expenses -166.8 -173.7 -666.5 -691.9

Profit before credit losses 60.9 92.5 271.9 392.3

Net credit losses -12.2 -8.1 -44.7 -40.9

Operating profit 48.7 84.4 227.2 351.5

Tax on profit for the period 4.3 -26.4 -38.3 -81.3

Profit for the period 53.0 58.1 188.9 270.1

Earnings per share before dilution 0.30 0.33 1.08 1.54

balance sheet (SEK million)

Consolidated Statement of Financial Position (SEK million) 31/12/2012 31/12/2011

Loans to credit institutions 1,465 1,838

Loans to the public 4,737 4,630

Financial assets 5,388 5,172

Financial assets - policy holders bearing the risk 18,962 16,463

Tangible and intangible assets 507 546

Current tax assets 7 4

Other assets 326 409

Total assets 31,392 29,062

Deposits and borrowing by the public 10,488 10,708

Liabilities to policyholders 18,962 16,465

Other liabilities 428 460

Shareholders' equity 1,514 1,429

Total liabilities and shareholders' equity 31,392 29,062

capital coverage (SEK million)

Capital requirements for the financial conglomerate (SEK million) 31/12/2012 31/12/2011

Shareholder's equity, Group 1,514.0 1,429.3

Plus debenture loan 175.7 175.7

Less assumed div idend for the current financial year -122.5 -113.8

Less intangible fixed assets and deferred tax receiv ables -475.3 -513.3

Capital base 1,091.9 977.9

Capital requirement for regulated units within the banking and securities sector 444.2 465.8

Theoretical solv ency requirement for non-regulated units in the largest financial sector 0.8 1.6

Capital requirement for regulated units within the insurance sector 32.2 26.0

Capital requirement 477.1 493.4

Capital surplus 614.7 484.5

Capital coverage ratio 2.29 1.98

looking ahead

• More risk appetite in January (signs of spring)

• Growth areas:

o Pension

o Credits

o Cash savings

o Mutual funds

• Active cost management

fixed income supermarket

nordnet LIVE – the most important

savings event of the yearDate Tuesday February 12 Time14:00

Location Stockholm Waterfront

The key players in the Swedish financial industry gather during an evening to debate

and give you concrete tools for simple and efficient savings. Webcast: nliv.se

nordnetlive.se

more information:

nordnetab.com

become a customer:

nordnet.se/no/fi/dk

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