Sweden's Nordnet Q1 profit hits record on trading activity, new customers

Nordnet AB (publ)

24/04/2026 06:13

Overview

Sweden-based digital investment platform's Q1 operating profit and income reached record highs

Adjusted EPS for Q1 rose to SEK 3.32 from SEK 3.13 yr/yr

Net savings and new customer additions among highest since 2020/2021, driven by strong trading

Outlook

Nordnet expects full-year costs to be in line with target of about 8% annual increase

Company says focus remains on implementing AI for internal processes and customer offerings

Result Drivers

NET SAVINGS AND CUSTOMER GROWTH - Co said record net savings and 77,500 new customers were key drivers of quarterly results, per CEO Rasmus Järborg

TRADING ACTIVITY AND FUND SAVINGS - Strong growth in brokerage and funds attributed to high trading activity and continued high fund savings

NET INTEREST INCOME - Turnaround in net interest income due to rising market interest rates and increased deposits

Company press release: ID:nWkr9NwZwP

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
SEK 3.32
Q1 Adjusted operating profit
SEK 1.04 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for Nordnet AB (publ) is SEK337.50, about 6.3% above its April 23 closing price of SEK317.60

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 21 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)