NeoNet – Record Earnings – Sets New Financial Targets
2006 was a very strong year for NeoNet – revenues increased and there was a positive trend in earnings. Direct market access continues to grow, and there was also a breakthrough for NeoNet XG, our license-based system and software services.
Revenues for the year increased by 54% and amounted to SEK 397.1 m (SEK 258.0 m). Operating earnings (on EBITDA-level) increased by 119% to SEK 90.0 m (SEK 41.0 m). Earnings before tax grew and amounted to SEK 50.5 m (SEK 6.2 m).
“NeoNet’s revenues and earnings development is the result of various factors. During the year, clients have continued to increase their trading via us as a growing number of clients have recognized the advantage of fast and secure trading on multiple stock exchanges through one player – NeoNet. This increase is reinforced by the long-term trend for ever-increasing shares of clients’ trading to be effected via direct market access trading. In addition to the increase from existing clients, we have succeeded in attracting several new active clients during the year,” says Simon Nathanson, President and CEO of NeoNet.
“Based on the positive development in 2006 and good future prospects, the Board has set new long-term financial targets for the period 2007-2010. The new targets involve NeoNet to have reached revenues by at least SEK 800 m and achieving profit before tax of at least SEK 200 m by latest 2010,” concludes Simon Nathanson.
See NeoNet’s Year-End Report for more information on financial developments.
For more information please contact:
President and CEO of NeoNet
Tel. +46 8-454 15 51