Nordnet publishes annual and sustainability report for 2024

- 2024 was a record year for Nordnet. At the turn of the year, customers' total savings capital amounted to SEK 1,032 billion, an increase of 25 percent from the previous year. The positive development is explained by strong customer growth, high net savings, and a positive market performance, particularly in the U.S. Revenues in the savings sector moved in the right direction, although the net interest income declined in the second half of the year due to lower market interest rates. Adjusted operating expenses, excluding increased investments in marketing, rose by 7.7 percent, and the adjusted operating profit before tax reached nearly SEK 3.6 billion, an increase of 13 percent compared to 2023. From a financial perspective, we can summarize 2024 as Nordnet's best year so far, and with continued strong interest in savings and investments, we see great opportunities for solid growth ahead, says Lars-Åke Norling, CEO of Nordnet.

Highlights during the year

• We achieved an adjusted operating profit of SEK 3.6 billion for 2024 - our highest annual profit to date.
• Increased stock trading and growth in fund capital contribute to a net commission income of SEK 2.4 billion, the highest in three years.
• We welcomed 256,300 new customers during the year, surpassing a total of 2 million customers in total.
• Nordnet's customers had a net savings of SEK 73 billion, more than double the amount from 2023.
• Fund savings capital increased by 41 percent to SEK 259 billion at year-end. Savings in Nordnet branded funds grew by 60 percent, reaching just over SEK 70 billion by the end of the year.
• Nordnet remains top-ranked in Denmark and Finland in EPSI's customer satisfaction survey for savings. Nordnet also climbed to second place in Norway and retained second place in Sweden, with strong improvements across all measured criteria in both countries.
• In the fourth quarter, we launched the insurance-based pension product "livrente" in Denmark. This launch expands Nordnet's addressable market by SEK 2,000 billion, fulfilling our ambition to become a one-stop shop for pension savings in all our markets.

Financial results in brief, January-December 2024

• Adjusted operating income increased by 12 percent, amounting to SEK 5,094 (4,550) million.
• Adjusted operating expenses amount to SEK 1,455 (1,300) million - an increase of 12 percent.
• Adjusted operating profit increased by 13 percent to SEK 3,560 (3,160) million.
• Savings capital amounted to SEK 1,032 (825) billion as of 31 December 2024.
• The customer base increased with 14¹ percent to 2,096,400 (1,862,900) customers.
• Net savings amounted to SEK 72.9 (34.7) billion.

Sustainability results in brief, January-December 2024

• A climate transition plan has been launched, and Nordnet has joined the Science Based Targets Initiative (SBTi), aiming to ensure that our climate goals are scientifically grounded using SBTi's methodology within two years.
• During the year, Nordnet also became a member of the UN Global Compact and signed the Principles for Responsible Investments (PRI).
• Nordnet's greatest impact on the climate is through our customers' investments. At the end of the year, the footprint of customer investments on Nordnet's platform, measured in emission intensity, was 87 tons CO2e/m USD, a reduction of 39 percent from 2023 (143 tons CO2e/m USD). Over ten years, the goal is to cut emissions in half in line with the Paris Agreement.
• Nordnet aims to make it easy for our customers to save and invest sustainably. 87 percent of fund capital is invested in sustainability categorized funds (Article 8 or 9 under SFDR), an increase of 3 percentage points compared to 2023 (84 percent).
• Nordnet strives to engage more people to save and invest while promoting more equal savings. In 2024, 39 percent of new customers were women, compared to 34 percent of the overall customer base.
• Nordnet Female Network-an initiative to increase women's savings and reduce the financial gap between men and women-has grown to nearly 11,100 members in 2024, up from 3,700 at the end of 2023.
• The proportion of women in the executive management team increased to 45 percent, compared to 36 percent a year earlier. Nordnet's board consists of 50 percent women. The percentage of female employees at Nordnet rose from 36 to 37 percent.
• A key focus during the year has been laying the groundwork for implementing the EU's Corporate Sustainability Reporting Directive (CSRD), ensuring readiness for compliance and reporting in line with CSRD for the 2025 financial year.
• Nordnet's ESG risk score from Sustainalytics improved from 30.2 to 23.4, meaning Nordnet is now in the lower half of the medium-risk category, having previously been classified as high risk. Additionally, the rating institutes ISS and S&P have improved Nordnet's sustainability rating. These improvements strengthen our position as a sustainable player in the banking sector.

This information is information that Nordnet AB (publ) is obliged to make public pursuant the Securities Markets Act. This information was submitted for publication on 14 March 2025 at 8:00 a.m. CET.