Carnegie’s net profit for the first half year 2006 was SEK 584 million (SEK 239 million), of which SEK 296 million (SEK 139 million) was generated in the second quarter, a Y/Y increase of 113%. Earnings per share for the first half year were SEK 8.46 (SEK 3.58), fully diluted SEK 8.35 (SEK 3.54).
Total income for the first half year 2006 increased by 71% to SEK 2,479 million (SEK 1,454 million). Income in the second quarter was SEK 1,240 million (SEK 797 million), at the same level as the first quarter of 2006, due to particularly strong income in Securities and Investment Banking. In the second quarter, Securities’ income increased by 59% Y/Y to SEK 614 million. Investment Banking generated SEK 280 million, an increase of 73% from the second quarter 2005, and 16% above the first quarter. Asset Management income was up 47% Y/Y to SEK 202 million, and Private Banking income was up 28% to SEK 144 million.
Assets under management amounted to SEK 99 billion, a decrease of SEK 2 billion from the end of the first quarter, of which net inflows were SEK 5 billion and asset values decreased by SEK 7 billion.
Total expenses before profit-share were SEK 830 million (SEK 773 million), an increase of 7% Y/Y. Total expenses for the second quarter was SEK 402 million (SEK 399 million), a Y/Y increase of 1%. The communicated cost range for 2006 of SEK 1,700 to SEK 1,800 million remains unchanged.
Personnel changes: Peter Bäärnhielm has been appointed Nordic Head of Investment Banking in addition to his role as Head of Investment Banking in Sweden. He will also join Group Management.
Carnegie is an independent Nordic investment bank operating in Securities, Investment Banking, Asset Management and Private Banking. Carnegie provides a wide array of financial products and services to Nordic and international clients from offices in eight countries: Sweden, Denmark, Norway, Finland, Luxembourg, Switzerland, the UK and the US.