Highlights:
· Strong performance in Q1, with revenues up 181%, to NOK 738m (263m)
· All-time high LTM revenues of NOK 2,401m
· Q1 diluted EPS of NOK 0.39 (0.05)
· Solid pipeline going into Q2
CEO comment:
The high level of activity in the second half of 2020 continued through the
first quarter of 2021, and markets show no sign of cooling off. Even though Q1
is usually a seasonally weak quarter, Q1 2021 turned out to very strong, with
solid contribution from all business areas and total revenues amounting to NOK
738m, up 181% y-o-y. The increase is partly driven by favourable markets, but
there is also clear evidence that ABGSC continues to gain ground relative to
peers.
Given the strong equity market sentiment, many companies in the Nordics are
seizing the opportunity to raise capital. What distinguishes Q1 2021 from 2020
is the broader range of companies conducting capital markets activities. While
tech companies dominated 2020, we are experiencing solid activity across many
sectors this year.
We have over years steadily improved our position in the Swedish market. Our
strategy is to further improve our position in Sweden by capitalising on being
an integrated Nordic investment bank with a strong focus on collaboration across
teams and across countries. Therefore, I am especially pleased to note that we
are growing revenues and improving market share within Swedish ECM, while at the
same time our business in Norway continues to be market leaders and performing
very well.
Research quality is a key priority and ABGSC continues to invest in its research
operation. During the quarter, we reached a couple of important milestones as we
now cover a total of 400 Nordic companies and signed our sponsored research
contract number 100.
ABGSC has a very strong pipeline of transactions going into the second quarter,
and we see no sign of this trend fading in the near term. At the same time, we
are aware that market trends and investors' appetite for risk can change
quickly, and hence continue to focus also on costs and efficiency.
Jonas Ström, CEO
For further information:
Jonas Ström, CEO +46 8 566 294 68
Geir B. Olsen, CFO +47 22 01 60 35
Please find attached the Q1 2021 Interim Report. A presentation will be held as
a webcast at 09.00 CET and can be accessed through a weblink or call-in details
presented on our corporate website www.abgsc.com.