Interim Report January-March 2008

Challenging market environment yet positive development in Asset Management

January – March 2008
• Total income increased by 12 per cent and amounted to SEK 918m (819). Adjusted for Max Matthiessen income decreased by 6 per cent.
• Total expenses before profit share amounted to SEK 591m (455). Adjusted for Max Matthiessen and non-recurring items expenses amounted to SEK 469m (455).
• Operating profit amounted to SEK 181m (192), corresponding to an operating profit margin of 20 per cent (23).
• Net profit decreased by 4 per cent and amounted to SEK 127m (132), corresponding to profit per share of SEK 1.63 (1.84).

Important events during the first quarter
• Strong profits in Asset Management, operating profit up 29 per cent.
• Net inflow of SEK 4 billion to Asset Management.
• Industry leader in equity research and brokerage, according to analytics company StarMine and magazine Institutional Investor.

Important events after the closing date
• Mikael Ericson will begin as CEO on 26 April.
• Kristina Schauman will begin as CFO on 1 August.