• Carnegie’s net profit for the first quarter 2007 was SEK 211 million (SEK 287 million), corresponding to earnings per share of SEK 2.95 (SEK 4.18), down by 26% from the first quarter 2006. Earnings per share, fully diluted were SEK 2.95 (SEK 4.10).
• Total income for the first quarter 2007 was down 16% Y/Y to SEK 1,039 million (SEK 1,239 million). Securities’ income declined by 10% to SEK 574 million. Investment Banking income was SEK 119 million, down by 51% from the strong first quarter 2006. Asset Management income was down 5% to SEK 202 million, and Private Banking income was down by 2% to SEK 144 million.
• Total expenses before profit-share were SEK 455 million (SEK 428 million), an increase of 6% Y/Y. The cost range for 2007 is estimated at SEK 2,0 to SEK 2,1 billion (including Max Matthiessen’s costs for three quarters).
• Assets under management amounted to SEK 121 billion, an increase of SEK 7 billion from the beginning of the year, of which net inflows were SEK 3.5 billion and asset values increased by SEK 3.5 billion.
• The acquisition of Max Matthiessen was completed at end of March and was consolidated in the Carnegie Group at 31 March 2007. Income from Max Matthiessen will be included in the Group for three quarters in 2007, starting in the second quarter.
• The CAD-ratio at 31 March was 12.6 per cent, above the minimum level of 12 per cent decided by the Board.
• The AGM 29 March approved a dividend of SEK 10.50 per share, which was distributed to shareholders on 10 April. All Board members were re-elected and Mai-Lill Ibsen was elected new Board member. The AGM also approved Carnegie Share programme 2008, an incentive programme directed to key employees (see www.carnegie.se/ir for a full presentation of the proposal).
This interim report has not been reviewed by the company’s auditors.
Carnegie’s CEO Stig Vilhelmson and Ulf Fredrixon (CFO) will present the first quarter results at a teleconference held 24 April at 4.00 PM (CET). It will be open to the public. In order to participate, please call +44 (0) 208 817 93 01. The conference call will also be accessible as an audio live web cast (including slide presentation) at www.carnegie.se/ir. For those unable to listen to the live web cast, a replay will be available at www.carnegie.se/ir approximately one hour after the event.
For further information, please contact Stig Vilhelmson (CEO) +46 8 676 86 01
or Ulf Fredrixon (CFO) +46 8 5886 90 12.
Financial calendar 2007
Interim report January-June 18 July
Interim report January-September 24 October
Additional information is available at www.carnegie.se/ir.
Carnegie is a leading independent investment bank with a Nordic focus. Carnegie provides value-adding services in securities broking, investment banking, asset management, private banking and pension advice, to institutions, corporations and private clients. Carnegie has around 1,100 employees in eight countries and is listed on the Nordic Exchange.