Aktia plc: Interim report 1 January - 31 March 2012
CEO Jussi Laitinen
”Aktia’s year started well. Sales increased in most of our business areas, our new Internet bank was received positively, and Aktia has more than 4,000 new customers. Assets under management increased to exceptionally high levels, and Aktia’s capital adequacy ratio improved significantly. The continued low interest rates put a strain on profitability, maintaining high requirements of efficiency in the Group.”
January-March 2012: Operating profit EUR 14.5 (19.2) million
- Group operating profit from continuing operations was EUR 14.5 (19.2) million.
- Profit for the period was EUR 19.7 (14.2) million.
- Earnings per share was EUR 0.29 (0.20), of which continuing operations contributed EUR 0.15 (0.21).
- Capital adequacy ratio improved to 18.1 (31.12.2011; 16,2)% and Tier 1 ratio to 11.3 (31.12.2011; 10,6)%. Equity per share increased to EUR 7.89 (7.01).
- The sale of 66% of Aktia Non-life Insurance Co generated a non-recurring income of EUR 10.4 million and increased equity by EUR 4.1 million.
- Higher margins improved NII from deposits and lending to EUR 15.3 (14.9) million, but due to the maturing interest rate hedges the total NII decreased to EUR 29.6 (34.2) million.
- Write-downs of credits and guarantee claims decreased by 43% to EUR 1.9 (3.3) million.
- OUTLOOK: The operating result from continuing operations for 2012 is expected to be lower than in 2011 (unchanged, outlook in detail on page 11).
| KEY FIGURES (EUR million) | 1-3/ 2012 | 1-3/ 2011 | ∆ % | 10-12/ 2011 | ∆ % | 2011 |
| Net interest income | 29.6 | 34.2 | -13% | 30.3 | -2% | 128.6 |
| Total operating income | 53.2 | 58.3 | -9% | 49.6 | 7% | 201.9 |
| Total operating expenses | -36.5 | -35.6 | 2% | -38.8 | 6% | -146.6 |
| Operating profit before write downs on credits, continuing operations | 16.4 | 22.6 | -27% | 10.8 | 52% | 55.3 |
| Write-downs on credits and guarantee claims | -1.9 | -3.3 | -43% | -4.1 | 54% | -10.5 |
| Operating profit from continuing operations | 14.5 | 19.2 | -25% | 6.6 | 119% | 44.8 |
| Cost-to-income ratio | 0.68 | 0.63 | 8% | 0.78 | -13% | 0.73 |
| Earnings per share (EPS), EUR | 0.29 | 0.20 | 45% | 0.12 | 148% | 0.53 |
| Equity per share (NAV)1, EUR | 7.89 | 6.14 | 29% | 7.01 | 13% | 7.01 |
| Return on equity (ROE), % | 14.3 | 11.9 | 20% | 6.1 | 134% | 7.2 |
| Capital adequacy ratio1, % | 18.1 | 16.0 | 13% | 16.2 | 12% | 16.2 |
| Tier 1 capital ratio1, % | 11.3 | 10.3 | 10% | 10.6 | 7% | 10.6 |
| Write-downs on credits / total credit stock, % | 0.03 | 0.05 | -40% | 0.06 | -50% | 0.15 |
1) At the end of the period
The Interim report January-March 2012 is a translation of the original Swedish version ”Delårsrapport 1.1-31.3.2012”. In case of discrepancies, the Swedish version shall prevail.
AKTIA PLC
For more information, please contact:
Managing Director Jussi Laitinen, tel. +358 10 247 6250
Deputy Managing Director, CFO Stefan Björkman, tel. +358 10 247 6595
From:
IR Manager Anna Gabrán, tel. +358 10 247 6501
, +358 40 7081807
Aktia Group provides a broad range of products within banking, insurance and real estate agency. Aktia operates in Finland's coastal areas and inland growth areas. Aktia has some 400,000 customers who are served by nearly 1,400 employees at 70 branch offices and via Internet and telephone services. Aktia's shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more information about Aktia, see www.aktia.fi.