Q3 2024 ABG Sundal Collier Holding ASA Earnings Call Transcript
Key Points
- ABG Sundal Collier Holding ASA (ABGSF) reported one of its strongest third quarters ever, with significant contributions from all business segments.
- The company achieved a 10% increase in quarterly revenues, growing from NOK356 million to NOK392 million.
- Operating margin improved by 3 percentage points, rising from 17% to 20% in the first nine months of the year.
- Earnings per share increased by 35% year-to-date, demonstrating strong operational leverage.
- Debt capital markets (DCM) revenues grew by 32% in the quarter, highlighting robust performance in this segment.
- The weakening of the Norwegian krone continues to inflate the company's fixed cost base, impacting financial performance.
- The Nordic equity markets experienced muted activity, particularly in primary volumes, affecting potential revenue streams.
- The M&A market remains stable but slightly muted, with volumes and number of deals being flat or down.
- The company faces increased costs due to its profitability-driven compensation model, which raises variable compensation expenses.
- Despite strong performance, the company operates in a highly competitive Nordic investment banking market, which poses ongoing challenges.
Okay. Good morning, all, and a warm welcome to ABG Sundal Collier's Q3 Results Presentation. (Event Instructions) I would also like to mention that I'm joined by my CFO, Geir Olsen.
Before we dig deeper into the numbers, I'd like to start with some general comments about the quarter. That was a very special quarter for us indeed. We celebrated our 40th anniversary in September as a firm, and we did it with one of our strongest third quarters ever.
In what usually is a seasonally slow quarter, we were able to close one investment banking transaction every other day or well, in fact, actually several a day in September since it is in September, everything happens from an investment banking perspective. This, combined with a return to growth from our brokerage and research operations explains our strong performance in this particular quarter.
But over time, I would like to once again emphasize the importance of our full product offering across products and sectors providing a solid foundation for the success of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
