“At the beginning of January, the German financial supervisory authority BaFin confirmed our notification of crossborder operations, which means that the regulatory approval process for Nordnet’s upcoming operations in Germany has been completed. We are now continuing to build up both our physical and digital infrastructure and are continuously recruiting key personnel to the organization.”
The plan is to enter Germany in H2
On profit distribution:
“Nordnet has a strong and stable capital situation. In total during 2025, we repurchased shares for SEK 627 million within the framework of three different programs, and at the turn of the year, approximately SEK 100 million remains in the program launched in November last year. For 2025, the Board intends to propose a dividend of SEK 8.60 per share, corresponding to just over 70 percent of the profit. It is my assessment that going forward, we have the prerequisites to maintain a dividend level of 70 percent of profit and implement further share buyback programs.”
Nordnet released their Q1 results this week. To my eye, it looked quite decent, although earnings growth remained in the single digits. The market seemed to punish this with a slight drop in the share price.
Regarding net interest income (NII), management stated: they believe the bottom for NII is behind them, and from here on, earnings growth can also be expected from the ”banking side” through an expanding customer base. Immediately after, however, they said it depends on central bank rates, the forecasting of which is like guessing the weather.
Personally, I was deeply offended by this. Surely forecasting the weather is easier than predicting the central bankers’ interest rate moves
The stock price is hovering around its ATH, and in my view, the result released today was good. Just like with Nordea, Nordnet’s net interest income has turned upward.
In other words, earnings are growing across the board Among other things, EPS +34% y-o-y
It’s great to be in the parlor car (salonkivaunussa).
Q3 is out, and it went quite well! It’s so nice when at least one holding in the portfolio keeps performing steadily, rather than being a flaming dumpster fire…
