Third quarter 2021 compared to third quarter 2020
Events during the quarter
Quote from Rikard Josefson, CEO Avanza
“During the quarter, which was the second best in Avanza’s history, we exceeded last year’s record level regarding new customers. Customer satisfaction is extremely important to us. Which is why we need to invest further in customer-supporting functions, and also maintain our development agenda. Our goal is a company where we ourselves want to work and be customers.”
Q3 | Q2 | Change | Q3 | Change | Jan-Sep | Jan-Sep | Change | ||
2021 | 2021 | % | 2020 | % | 2021 | 2020 | % | ||
Operating income, SEK m | 767 | 754 | 2 | 575 | 33 | 2,477 | 1,643 | 51 | |
Operating expenses, SEK m | –192 | –216 | –11 | –177 | 9 | –611 | –541 | 13 | |
Operating profit, SEK m | 574 | 536 | 7 | 396 | 45 | 1,866 | 1,091 | 71 | |
Profit for the period, SEK m | 481 | 451 | 7 | 331 | 45 | 1,563 | 917 | 71 | |
Earnings per share before dilution, SEK | 3.10 | 2.91 | 7 | 2.15 | 44 | 10.09 | 5.96 | 69 | |
Operating margin, % | 75 | 71 | 4 | 69 | 6 | 75 | 66 | 9 | |
Return on shareholders' equity, % | 44 | 46 | –3 | 55 | –12 | 53 | 57 | –4 | |
Net inflow, SEK m | 18,400 | 22,900 | –20 | 16,300 | 13 | 71,900 | 57,600 | 25 | |
No. of new customers (net) | 70,100 | 85,100 | –18 | 79,200 | –11 | 308,000 | 218,300 | 41 | |
No. of customers at the end of the period | 1,588,400 | 1,518,200 | 5 | 1,194,700 | 33 | 1,588,400 | 1,194,700 | 33 | |
Savings capital at the end of the period, SEK m | 735,000 | 713,600 | 3 | 514,200 | 43 | 735,000 | 514,200 | 43 | |
Income to savings capital ratio, % | 0.42 | 0.44 | –0.02 | 0.48 | –0.06 | 0.49 | 0.51 | –0.01 | |
Costs to savings capital ratio, % | 0.11 | 0.13 | –0.02 | 0.15 | –0.04 | 0.12 | 0.17 | –0.04 |
A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 18 October 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. Phone number for participants:
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, Head of Investor Relations
+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 1.5 million customers with over SEK 700 billion in total savings capital. This is equivalent to 6.5 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 eleven years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: avanza.se/ir