Sweden's Nordnet Q3 operating profit rises
Sweden's Nordnet Q3 operating profit rises
Overview
Sweden digital savings platform's Q3 operating profit rose 24% yr/yr to SEK 1.1 bln
Q3 diluted EPS rose to SEK 3.50 from SEK 2.81 last year
Company to launch Nordnet-branded ETFs and expand private banking via ABG Sundal Collier partnership
Outlook
Company plans to launch Nordnet-branded ETFs in early 2027
Nordnet to launch its service in the German market shortly
Result Drivers
CUSTOMER GROWTH - Co said continued strong inflow of new savers drove platform growth, with annual customer growth of 12% and 64,000 new customers in the qtr
NET SAVINGS INFLOW - Net savings increased by 23% to SEK 25.6 bln for the qtr, contributing to record savings capital
REVENUE STREAMS - Co reported strong growth across all revenue streams in the qtr
Company press release: ID:nWkr6JkWDr
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| SEK 3.50 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "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 SEK385.00, about 15.5% above its October 21 closing price of SEK333.40
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 25 three months ago
Reuters Recommended Reads
Oct 22 - Sweden's SEB Q3 net profit falls on muted client activity
Oct 21 - Sweden's Handelsbanken Q3 operating profit rises 10%
Oct 20 - MSCI Q3 adj EPS rises, beats estimates
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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.)