Preliminary Financial Statement 2018

  • Customer growth was good and 28,600 (42,500) new customers were added
  • Net inflow improved by 79 per cent to SEK 6,360 million (3,550)
  • Operating income decreased by 1 per cent due to lower brokerage income and other income, which was partly offset by higher fund commissions and improved net interest income
  • Operating expenses decreased by 2 per cent, mainly due to lower marketing expenses. The full-year cost increase was 11.1 per cent, in line with guidance
  • The annual cost increase going forward is estimated at 9-12 per cent, a slightly wider range than the previous guidance of 8-10 per cent. The budgeted figure for 2019 is 10.5 per cent. The aim of the new guidance is to capitalise on new growth opportunities in a responsible way while staying focused on costs
  • Net profit amounted to SEK 95 million, a decrease of 3 per cent
  • The Board of Directors proposes a dividend of SEK 10.50 (10.50) per share
  • Avanza was awarded Sweden’s most satisfied customers in the savings category for the ninth consecutive year by the Swedish Quality Index
  • Avanza was named Bank of the Year by the magazine Privata Affärer and received an award for the Avanza Global fund, named the New Savings Product of the Year
  • The holding in Stabelo was increased to nearly 30 per cent
  • The Allbright report on Sweden’s most gender-equal companies ranked Avanza sixth
  • Avanza ranked fifth among Sweden’s most recommended brands in the YouGov BrandIndex
  • Åsa Mindus Söderlund assumed her position as CEO of Försäkringsaktiebolaget Avanza Pension

Quote from Rikard Josefson, CEO Avanza

“Avanza is for the customers by the employees. This means, in addition to our strong customer engagement, that we handle all development ourselves. To have the flexibility to capitalise on future growth opportunities by staying innovative with a sufficient number of employees, we have widened our cost guidance slightly to an annual cost growth of 9-12%. The budgeted figure for 2019 is 10.5%. At the same time, we are raising our long-term aim to cut the cost to savings capital ratio from 0.20% to nearly 0.16%, with our top international peers as a benchmark.”

Q4 Q3  Change Q4  Change  Jan-Dec  Jan-Dec  Change
2018 2018 % 2017 % 2018 2017 %
Operating income, SEK m¹ 267 267 0 271 –1 1,049 975 8
Operating expenses, SEK m¹ –155 –135 15 –157 –2 –594 –535 11
Operating profit, SEK m 111 132 –16 114 –2 453 441 3
Net profit, SEK m 95 106 –11 98 –3 384 379 1
Earnings per share, SEK 3,13 3,54 –11 3,27 –4 12,77 12,66 1
Operating margin, %¹ 42 49 –8 42 –0 43 45 –2
Net inflow, SEK m 6,360 8,380 –24 3,550 79 27,600 26,800 3
No. of new customers (net) 28,600 32,200 –11 42,500 –33 126,500 140,000 –10
Savings capital at the end of the period, SEK m²  300,000  331,000 –9  282,900 6 300,000 282,900 6

This information is information that Avanza Bank Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.15 (CET) on 17 January 2019.

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:

Rikard Josefson, CEO
+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. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza’s customer promise is a better return on your savings than with any other bank or pension provider in Sweden. Services include saving in shares, funds, savings accounts, mortgages and a strong pension offering. Avanza has more than 800,000 customers with SEK 300 billion in total savings capital. This is equivalent to 4.0 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange including First North. During the last nine years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: investors.avanza.se/en

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About Us

Avanza is a digital platform for savings and investments, founded in 1999. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza’s customer promise is a better return on your savings than with any other bank or pension provider in Sweden. Services include saving in shares, funds, savings accounts, mortgages and a strong pension offering. Avanza has more than 900,000 customers with over SEK 300 billion in total savings capital. This is equivalent to 4.2 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange including First North. During the last nine years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: investors.avanza.se/en

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Quotes

Avanza is for the customers by the employees. This means, in addition to our strong customer engagement, that we handle all development ourselves. To have the flexibility to capitalise on future growth opportunities by staying innovative with a sufficient number of employees, we have widened our cost guidance slightly to an annual cost growth of 9-12%. The budgeted figure for 2019 is 10.5%. At the same time, we are raising our long-term aim to cut the cost to savings capital ratio from 0.20% to nearly 0.16%, with our top international peers as a benchmark.
Rikard Josefson, CEO Avanza