Fourth quarter 2017 compared to fourth quarter 2016
- Customer growth was 42,500 (29,300), a new quarterly record
- Net inflow in the quarter was SEK 3,550 million, a decrease of 43 per cent and mainly due to a few large individual withdrawals amounting to SEK 2,200 million
- Operating income increased by 11 per cent, a result of higher fund commissions and other income. Other income increased mainly due to higher income from Corporate Finance and higher currency-related income
- Operating expenses increased by 23 per cent, mainly due to an increased number of employees and higher other costs. The cost increase is to a large extent attributable to expanded development capacity for further growth
- Net profit of SEK 98 million, a decrease of 3 per cent
- The full-year cost increase was 20 per cent, in line with previous forecast. Costs are now expected to return to a yearly growth rate of 8-10 per cent
- The Board of Directors proposes a dividend of SEK 10.50 (10.50) per share
- Avanza launched Sweden’s lowest mortgage rate with no requirement of other engagement
- Avanza was awarded Sweden’s most satisfied customers in the savings category for the eighth consecutive year by the Swedish Quality Index (SQI)
- Savings capital in Avanza Auto passed SEK 1 billion
- The long-term target of a market share of at least 9 per cent of the total net inflow to the Swedish savings market was adjusted upwards to a market share of at least 10 per cent
- Avanza’s new CEO Rikard Josefson assumed his position on 6 November
Quote from Rikard Josefson, CEO Avanza
“I have never in all my years seen such passion for the customer and willingness to always, down to the smallest detail, try to improve Avanza’s offering. Our strong culture has always been and will always be critical to Avanza’s success.”
|
Q4 |
Q3 |
Change |
Q4 |
Change |
Jan-Dec |
Jan-Dec |
Change |
|
2017 |
2017 |
% |
2016 |
% |
2017 |
2016 |
% |
| Operating income, SEK m |
274 |
229 |
20 |
247 |
11 |
985 |
919 |
7 |
| Operating expenses, SEK m |
–160 |
–125 |
28 |
–130 |
23 |
–544 |
–453 |
20 |
| Operating profit, SEK m |
114 |
104 |
9 |
117 |
–3 |
441 |
465 |
–5 |
| Net profit, SEK m |
98 |
89 |
11 |
101 |
–3 |
379 |
399 |
–5 |
| Earnings per share, SEK |
3.27 |
2.97 |
10 |
3.39 |
–4 |
12.66 |
13.45 |
–6 |
| Operating margin, % |
41 |
45 |
–4 |
47 |
–6 |
45 |
51 |
–6 |
|
|
|
|
|
|
|
|
|
| Net inflow, SEK m |
3,550 |
5,900 |
–40 |
6,210 |
–43 |
26,800 |
26,500 |
1 |
| No. new customers (net) |
42,500 |
31,200 |
36 |
29,300 |
45 |
140,000 |
103,000 |
36 |
| Savings capital at the end of the period, SEK m |
273,400 |
272,000 |
1 |
231,000 |
18 |
273,400 |
231,000 |
18 |
This information is information that Avanza Bank Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.15 (CET) on 18 January 2018.
This Preliminary Financial Statement 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.
