Record-Breaking Financial Results (Image Credits: Pixabay)
Stockholm-based online broker Nordnet marked a historic achievement in the first quarter of 2026 by surpassing SEK 1 billion in profit before tax for the first time.[1] The company reported record operating income and trading volumes amid geopolitical tensions that spurred market volatility. This performance underscored Nordnet’s resilience and growth in its core brokerage and fund businesses across the Nordic region.
Record-Breaking Financial Results
Nordnet’s operating income climbed to SEK 1,485 million, a 6 percent increase from SEK 1,396 million in the year-ago quarter.[1] Operating expenses rose 8 percent to SEK 439 million, partly due to investments in the upcoming German market launch, yet the firm delivered an operating profit of SEK 1,042 million, up 6 percent year over year from SEK 985 million.
Net profit reached SEK 839 million, reflecting a 5 percent gain compared to SEK 799 million in Q1 2025. Earnings per share, diluted, stood at SEK 3.32, a 6 percent improvement. The adjusted operating margin held steady at 70 percent, highlighting efficient cost management despite higher expenses.[1]
| Key Metric | Q1 2026 | Q1 2025 | YoY Change |
|---|---|---|---|
| Operating Income (SEK m) | 1,485 | 1,396 | +6% |
| Operating Profit (SEK m) | 1,042 | 985 | +6% |
| Net Profit (SEK m) | 839 | 799 | +5% |
| EPS Diluted (SEK) | 3.32 | 3.13 | +6% |
Trading Volumes Hit Multi-Year Highs
Customers executed 18.8 million trades during the quarter, the highest number since Q1 2021 and a 15 percent rise from 16.3 million a year earlier.[1] The traded value on the cash market soared 21 percent to SEK 559 billion, fueled by daily averages of 302,400 trades.
Cross-border trading accounted for 39 percent of trades and 35 percent of value, with market shares remaining stable: 3.8 percent in Sweden, 5.6 percent in Norway, 5.9 percent in Denmark, and 14.5 percent in Finland for various instruments. Geopolitical events, including Middle East conflicts, drove volatility that encouraged strategic portfolio shifts rather than panic selling.[1]
Robust Customer and Savings Growth
The customer base expanded to 2.43 million, up 12 percent year over year, with 77,500 new accounts added – a matching 12 percent increase.[1] Net savings inflows hit SEK 28.8 billion, the strongest since 2020-2021 and 16 percent above the prior year’s figure.
Total savings capital grew 23 percent to SEK 1,214 billion, including SEK 810 billion in shares, derivatives, and bonds, and SEK 307 billion in funds. Deposits rose by SEK 13.1 billion to SEK 97.2 billion. Pension savings reached SEK 275 billion, up 21 percent, while the loan portfolio expanded 8 percent to SEK 29.8 billion.[1]
- Funds: 86 percent in sustainable options (Article 8/9).
- New female customers: Record 44 percent share.
- Average savings per customer: SEK 487,500.
Income Streams and Strategic Shifts
Net commission income jumped 11 percent to SEK 909 million, driven by transaction fees (SEK 730 million, +12 percent) and fund commissions (SEK 186 million, +11 percent). Net interest income remained stable at SEK 579 million, supported by higher deposits and market rates.[1]
Nordnet welcomed Rasmus Järborg as CEO effective April 1, following his role as deputy CEO and chief product officer. The company continues investing in AI for news summaries and reports, while preparing a H2 2026 Germany launch with SEK 80-90 million allocated this year. Full-year costs are projected to align with an 8 percent annual growth target, excluding expansion expenses.[1]
As Nordnet eyes further platform enhancements like advanced technical analysis and algorithmic tools, its strong Q1 positions the firm to navigate ongoing market uncertainties with confidence. The milestone profit reflects not just volume growth, but deepening customer engagement across the Nordics.
