Third quarter 2020 compared to third quarter 2019
- Customer growth was 79,200 (36,800), an increase of 115 per cent
- Net inflow in the quarter was
SEK 16,300 million (9,940), an increase of 64 per cent - Operating income increased by 84 per cent. All revenue lines improved. Net brokerage income increased by 125 per cent as a result of high market activity. Currency-related income increased by 167 per cent. Net interest income increased mainly as a result of higher lending volumes and improved return on surplus liquidity
- Operating expenses increased by 19 per cent, mainly due to more staff and consequently higher personnel costs. IT and premises costs also increased
- The cost increase for the full year is, as communicated earlier, estimated as 12 per cent, which is within the long-term guidance of an annual cost increase of 9−12 per cent
- Net profit amounted to
SEK 331 million , an increase of 140 per cent - As previously announced, a leverage ratio requirement will be introduced in
June 2021 . This means that Avanza has to strengthen its Tier 1 capital by betweenSEK 750 million andSEK 850 million . Because of this year’s strong result, the Board of Directors has resolved to do this by temporarily reducing the dividend ratio for 2020. See also page 11 - As previously announced,
Anna Casselblad will take over as the new CFO, effective1 February 2021
- Improvements to monthly savings in the apps
- New pages launched for certificates
- The customer onboarding was updated with better guidance to make it easier for new customers to start saving
Quote from
“We can again look back at a quarter with high activity. Customer growth was strong, and we passed
Q3 | Q2 | Change | Q3 | Change | Jan-Sep | Jan-Sep | Change | |
2020 | 2020 | % | 2019 | % | 2020 | 2019 | % | |
Operating income, SEK m | 575 | 526 | 9 | 313 | 84 | 1,643 | 865 | 90 |
Operating expenses, SEK m | –177 | –185 | –4 | –148 | 19 | –541 | –478 | 13 |
Operating profit, SEK m | 396 | 333 | 19 | 163 | 144 | 1,091 | 380 | 187 |
Net profit, SEK m | 331 | 281 | 18 | 138 | 140 | 917 | 326 | 181 |
Earnings per share before dilution, SEK | 2.15 | 1.83 | 18 | 0.91 | 137 | 5.96 | 2.15 | 177 |
Operating margin, % | 69 | 63 | 6 | 52 | 17 | 66 | 44 | 22 |
Net inflow, SEK m | 16,300 | 19,400 | –16 | 9,940 | 64 | 57,600 | 25,800 | 123 |
No. of new customers (net) | 79,200 | 53,000 | 49 | 36,800 | 115 | 218,300 | 101,900 | 114 |
Savings capital at the end of the period, SEK m | 514,200 | 444,600 | 16 | 377,100 | 36 | 514,200 | 377,100 | 36 |
A webcast presentation will be held by
Sweden : +46 (0)8 566 426 51UK : +44 33 330 008 04- US: +1 63 191 314 22
- Confirmation code: 22941979#
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:
+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.
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