Fourth quarter 2019 compared to fourth quarter 2018
Quote from Rikard Josefson, CEO Avanza
“Operating profit for 2019 was record-high, and after several years of investment in development and growth we reached our target to have income increase faster than costs. Thanks to my fantastic colleagues, we also won the Swedish Quality Index’s (SQI) award for Sweden’s most satisfied savings customers for the tenth year in a row. Now we are looking ahead to 2020 and taking the opportunity to launch new long-term targets – obviously while maintaining a focus on customer satisfaction but also savings capital.”
Q4 | Q3 | Change | Q4 | Change | Jan-Dec | Jan-Dec | Change | |
2019 | 2019 | % | 2018 | % | 2019 | 2018 | % | |
Operating income, SEK m | 329 | 313 | 5 | 267 | 23 | 1,193 | 1,049 | 14 |
Operating expenses, SEK m | -187 | -148 | 26 | -190 | -1 | -666 | -629 | 6 |
Operating profit, SEK m | 140 | 163 | -14 | 76 | 83 | 520 | 418 | 24 |
Net profit, SEK m | 121 | 138 | -12 | 60 | 102 | 447 | 349 | 28 |
Earnings per share before dilution, SEK | 0.79 | 0.91 | -13 | 0.40 | 99 | 2.94 | 2.32 | 27 |
Operating margin, % | 43 | 52 | -9 | 29 | 14 | 44 | 40 | 4 |
Net inflow, SEK m | 6,820 | 9,940 | -31 | 6,360 | 7 | 32,600 | 27,600 | 18 |
No. of new customers (net) | 37,300 | 36,800 | 2 | 28,600 | 30 | 139,300 | 126,500 | 10 |
Savings capital at the end of the period, SEK m | 407,700 | 377,100 | 8 | 300,000 | 36 | 407,700 | 300,000 | 36 |
A webcast presentation will be held by Rikard Josefson, CEO, and Birgitta Hagenfeldt, CFO, on 21 January 2020 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 investors.avanza.se. Phone number for participants:
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.
For further information please contact:
Rikard Josefson, CEO
+46 70 206 69 55
rikard.josefson@avanza.se
Birgitta Hagenfeldt, CFO and Deputy CEO
+46 73 661 80 04
birgitta.hagenfeldt@avanza.se
Sofia Svavar, Head of Investor Relations
+46 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 950,000 customers with over SEK 400 billion in total savings capital. This is equivalent to 4.3 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange including First North. During the last ten years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: investors.avanza.se