Resurs Holding—Year-end report Jan—Dec 2015

1 October—31 December 2015

• Operating income increased by 18 % to SEK 678 million.
• Operating profit increased by 11 % to SEK 208 million.
• The profit is charged by nonrecurring costs of SEK 50 million due to preparations for a potential IPO and the acquisition of yA Bank.
• Operating profit adjusted for nonrecurring costs increased by 37 % to SEK 258 million.
• Basic and diluted earnings per share decreased by 4 % and totalled SEK 0.70.

1 January—31 December 2015

• Operating income increased by 21 % to SEK 2,371 million.
• Operating profit increased by 36 % to SEK 838 million.
• The profit is charged by nonrecurring costs of SEK 105 million due to preparations for a potential IPO and the acquisition of yA Bank.
• Operating profit adjusted for nonrecurring costs increased by 53 % to SEK 943 million.
• Lending to the public rose by 31 % to SEK 18,198 million.
• The core Tier 1 ratio was 13.1 % (13.4).
• The total capital ratio was 14.2 % (14.7).
• Basic and diluted earnings per share increased by 32 % and totalled SEK 3.16.
• C/I before credit losses (excl. Insurance) was 48.1 % (51.5).
• Return on equity excl. intangible assets, (RoTE) was 21.4 % (20.4).

STATEMENT BY THE CEO:

Yet another strong year in Resurs’s excellent history

2015 was a great year for Resurs with accelerating revenues and operating profit. During the fourth quarter, we consolidated the acquisition of Norwegian yA Bank which further strengthen our Nordic presence. We also signed several new contracts with partners in retail finance and were awarded “Bank app of the year” by the financial weekly Privata Affärer for our smart phone service Loyo. As a part of the owners´ considerations of different strategic alternatives, including an IPO, we set new financial targets for the group. Even though the quarter was charged by nonrecurring costs related to acquisitions and preparations for a potential IPO, Resurs shows a strong increased operating profit compared to the previous year.

We can add another successful year to our strong company track-record. Our three business segments Payment Solutions, Consumer Loans and Insurance have all delivered better results compared to previous year.

Our core business is retail finance, with established relationships with retail partners, performed particularly well. We have secured a host of new partners, and our proactive efforts to train the staff of existing partners and help them grow their businesses by offering loyalty concepts is yielding increased sales for them and for us. Our consumer loans business has also grown substantially during the year, while our credit cards business has not performed quite as strongly as we had anticipated. In our card business, we have launched attractive new products that we expect to generate results in 2016. Insurance has developed well during the year with a number of new partners.

The demand for our e-commerce solutions has continued to grow during 2015, especially within the travel sector with both new and existing customers. The strongest growth however, has been with our omni-channel partners, those who use our services both on and offline.

We launched an app called Loyo, which consumers can use to collect loyalty cards from various retail chains. This is yet another way in which we help our partners generate loyalty and repeat business. For consumers, it means not having to walk around with every card in their wallet, which was also one of the reasons we won the financial weekly Privata Affärer’s “Bank app of the Year” for Loyo in December.

In assessing our trends by country, strong performances were predominantly found in Sweden and Norway, while the economy and consumption in Denmark and Finland were weaker. The integration of the previously acquired companies Dan-Aktiv and Finaref was finalised during the year. We have now consolidated our staff in new premises in both Oslo and Helsinki and in premises already held by Dan-Aktiv in Copenhagen.

During the summer we announced the acquisition of yA Bank. The transaction was completed in late October following approval by the authorities, at which point yA Bank was also consolidated into the Resurs Group. yA Bank is an exciting bank that focuses on consumer loans and enjoys fantastic growth.

For Group management and me, 2015 was an eventful year during which we also took the first steps toward a possible future IPO. This process has entailed many positive changes for us. We have gained new Board members, a partly new Group management, and we have established new financial targets. It is inspirational to be able to lead this journey, which is now entering a new and exciting phase.
Kenneth Nilsson, CEO Resurs Holding AB

For more information, please contact:
Peter Rosén, CFO, peter.rosen@resurs.se, +46 736 654934
Gunilla Wikman, Investor Relations Manager, gunilla.wikman@resurs.se; +46707638125

About Resurs Holding
The Resurs Group, which operates through subsidiaries Resurs Bank and Solid Försäkringar, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs has established collaborations with over 1,200 retail partners with approximately 35,000 stores and built a customer base of approximately 5 million private customers in the Nordics. Resurs Bank has had a bank charter since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group, with operations in Sweden, Denmark, Norway and Finland, had around 700 employees and a loan portfolio of more than SEK 18 billion at year-end 2015.

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