“The second quarter of 2023 involved a number of significant events. We delivered the first customer release of our new banking system, we initiated and extended important partner business and credit losses declined compared with the first quarter. We continue to see healthy demand for our products and lending increased 15 per cent, or 12 per cent in constant currencies. At the same time, the NBI margin was stable compared with last year. ” – Nils Carlsson, CEO.
1 April—30 June 2023*
- Lending to the public rose 15% to SEK 39,604 million, up 12% in constant currencies.
- Operating income increased 12% to SEK 866 million.
- C/I before credit losses improved to 41.2% (47.9%, and excluding the nonrecurring cost in 2022 to 41.4%).
- Profit before credit losses increased 27% to SEK 510 million (403), and excluding the nonrecurring cost in 2022 profit increased 13%
- The credit loss ratio increased to 2.8% (2.1%), but improved compared with Q1 2023.
- Operating profit increased 9% to SEK 244 million, and excluding the nonrecurring cost in 2022 profit declined 11%.
- Earnings per share rose 15% to SEK 0.93 (0.81), and excluding the nonrecurring cost in 2022 earnings declined 12%.
1 January—30 June 2023*
- Lending to the public rose 15% to SEK 39,604 million, up 12% in constant currencies.
- Operating income increased 12% to SEK 1,718 million.
- C/I before credit losses improved to 41.1% (45.5%, and excluding the nonrecurring cost in 2022 to 42.2%).
- Profit before credit losses increased 21% to SEK 1,011 million (839), and excluding the nonrecurring cost in 2022 profit increased 14%
- The credit loss ratio increased to 2.9% (2.1%).
- Operating profit fell 5% to SEK 462 million, and excluding the nonrecurring cost in 2022 profit declined 13%.
- Earnings per share fell 3% to SEK 1.76 (1.80), and excluding the nonrecurring cost in 2022 earnings declined 15%.
- The Board intends to convene an Extraordinary General Meeting in autumn 2023 and propose a half-year dividend of 50% of reported net profit for the first six months of 2023, amounting to SEK 0.91 per share, a total dividend amount of SEK 182 million.
* Certain performance measures provided in this section have not been prepared in accordance with IFRS or the capital adequacy rules, meaning that they are alternative performance measures. Calculations and reconciliation against information in the financial statements of these performance measures are provided on the website under “Financial reports.” Definitions of performance measures are provided on the website under “Financial data.”
TELEPHONE CONFERENCE
A web-cast telephone conference will be held at 09:00 CEST JUNE 21:st, where Resurs’s CEO Nils Carlsson and CFO Sofie Tarring Lindell will present the report. The presentation will be followed by a Q&A session. The presentation will be held in Swedish but will be translated into English and can be followed on the web, or over the phone.
If you wish to participate via the telephone conference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions directly in the telephone conference.
https://conference.financialhearings.com/teleconference/?id=200873
If you wish to participate via webcast, please use the link below. Via the webcast you can ask written questions:
https://ir.financialhearings.com/resurs-holding-q2-2023
The presentation material will be available before the telephone conference begins on Resurs’s website www.resursholding.com. It will also be possible to access the recorded version of the webcast after it is finished on this page.