Third quarter 2022 compared to third quarter 2021
Events during the quarter
Quote from Rikard Josefson, CEO Avanza
“Not everyone will be able to save as much as before. At the same time, it is clearer than ever how important it is to save and have a cash buffer. This should really be a priority for our politicians. Avanza’s profit for the third quarter was strong, largely thanks to higher market interest rates, which have now made net interest income our largest revenue source. Estimated expenses for the full-year are unchanged, but going forward we will be more restrictive in our hiring and focus on efficiencies and consolidating operations.”
| Q3 | Q2 | Change | Q3 | Change | Jan-Sep | Jan-Sep | Change | |
| 2022 | 2022 | % | 2021 | % | 2022 | 2021 | % | |
| Operating income, SEK m | 740 | 618 | 20 | 767 | –3 | 2,126 | 2,477 | –14 |
| Operating expenses, SEK m | –238 | –272 | –13 | –192 | 24 | –758 | –611 | 24 |
| Operating profit, SEK m | 502 | 345 | 46 | 574 | –13 | 1,368 | 1,866 | –27 |
| Profit for the period, SEK m | 433 | 296 | 47 | 481 | –10 | 1,172 | 1,563 | –25 |
| Earnings per share before dilution, SEK | 2.78 | 1.90 | 46 | 3.10 | –10 | 7.53 | 10.09 | –25 |
| Operating margin, % | 68 | 56 | 12 | 75 | –7 | 64 | 75 | –11 |
| Return on shareholders’ equity, % | 42 | 26 | 15 | 44 | –2 | 35 | 53 | –19 |
| Net inflow, SEK m | 6,030 | 8,400 | –28 | 18,400 | –67 | 31,000 | 71,900 | –57 |
| No. of new customers (net) | 24,100 | 19,700 | 23 | 70,100 | –66 | 103,900 | 308,000 | –66 |
| No. of customers at the end of the period | 1,764,000 | 1,739,900 | 1 | 1,588,400 | 11 | 1,764,000 | 1,588,400 | 11 |
| Savings capital at the end of the period, SEK m | 639,900 | 652,700 | –2 | 735,000 | –13 | 639,900 | 735,000 | –13 |
| Income to savings capital ratio, % | 0.46 | 0.35 | 0.10 | 0.42 | 0.03 | 0.40 | 0.49 | –0.10 |
| Costs to savings capital ratio, % | 0.15 | 0.16 | –0.01 | 0.11 | 0.04 | 0.14 | 0.12 | 0.02 |
A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 18 October 2022 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 a better return on your savings than with any other bank or pension provider in Sweden. Services include saving in shares, funds, savings accounts, mortgages, and a strong pension offering. Avanza has more than 1.7 million customers with over SEK 600 billion in total savings capital. This is equivalent to over 6 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 twelve years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: avanza.se/ir
