2011-02-17 07:00:00 CET
2011-02-17 07:00:10 CET
REGULATED INFORMATION
Aktia Oyj - Financial Statement Release
Aktia Plc Accounts Announcement 17 February 2011 at 8:00 am
STRONG 2010: OPERATING PROFIT EUR 77.9 (47.0) MILLION, RAISING DIVIDEND TO EUR
0.30 (0.24)
Helsinki, 2011-02-17 07:00 CET (GLOBE NEWSWIRE) -- A STRONG 2010: OPERATING
PROFIT EUR 77.9 (47.0) MILLION
-- Group operating profit for 2010 improved 66% to EUR 77.9 (47.0) million and
the profit for the period to EUR 58.0 (34.0) million.
-- Earnings per share was up 62% to EUR 0.83 (0.52).
-- Aktia's Board of Directors proposes a raised dividend to EUR 0.30 (0.24)
per share.
-- Net interest income remained strong at EUR 149.3 (152.2) million.
-- Net commission income advanced 23% to EUR 57.0 (46.3) million.
-- Net income from life insurance was EUR 16.5 (14.0) million.
-- Net income from non-life insurance improved 49% to EUR 22.6 (15.2) million.
-- Write-downs on credits and outstanding premium receivables were clearly
lower than last year and stood at EUR -14.1 (-31.7) million.
-- Aktia Bank plc's credit rating remained unchanged A1/C/P-1 (Moody's
Investors Service) on 19 November 2010.
-- The full-year profit for 2011 will probably be lower than in 2010.
OCTOBER-DECEMBER 2010: OPERATING PROFIT EUR 13.5 (9.8) MILLION
-- Despite increasing write-downs by group and the insurance companies'
provisions, group operating profit for October-December 2010 improved 37%
to EUR 13.5 (9.8) million and the profit for the period to EUR 10.1 (6.8)
million. Earnings per share was up 43% to EUR 0.14 (0.10).
-- Net interest income decreased but remained at a good level of EUR 34.9
(39.8) million.
-- Net commission income improved to EUR 14.9 (14.5) million.
-- Net income from life insurance doubled to EUR 6.8 (3.2) million.
-- Net income from non-life insurance rose notably to EUR 5.2 (1.5) million.
-- Write-downs on credits and outstanding premiums stood at EUR 4.3 (5.5)
million.
CEO JUSSI LAITINEN:"Aktia had a good year. All our business areas achieved as good results as in
the previous year, or better. We strengthened our market position in the most
important customer segments, and I'm especially pleased about the fact that our
customers give us top marks in customer satisfaction surveys. This year is more
challenging with a continuing financial crisis in the euro area and increased
regulation of financing which will undoubtedly result in higher costs. Aktia
strives to manage this structural challenge with the current capital base and a
continued focus on growth. "
(EUR million) 2010 2009 ∆ 10-12/ 10-12/ ∆ 7-9/ 4-6/ 1-3/
2010 2009 2010 2010 2010
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Net interest 149.3 152.2 -2 % 34.9 39.8 -12 % 37.0 38.6 38.9
income
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Total operating 249.4 233.1 7 % 62.0 58.7 6 % 60.2 66.2 61.0
income
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Operating profit 92.0 78.7 17 % 17.8 15.3 16 % 24.7 27.4 22.1
before write-downs
on credits
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Write-downs on -14.1 -31.7 -56 % -4.3 -5.5 -22 % -1.4 -3.8 -4.6
credit and
outstanding
premiums
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Operating profit 77.9 47.0 66 % 13.5 9.8 37 % 23.4 23.5 17.5
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Cost-to-income 0.59 0.57 4 % 0.68 0.57 19 % 0.58 0.54 0.57
ratio
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Earnings per share 0.83 0.52 62 % 0.14 0.10 43 % 0.26 0.25 0.18
(EPS), EUR
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Equity per share 6.81 6.52 4 % 6.81 6.52 4 % 7.30 6.89 6.86
(NAV)1, EUR
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Return on equity 12.0 8.7 39 % 7.9 5.9 35 % 13.9 14.2 10.5
(ROE),%
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Capital adequacy 15.9 15.9 0 % 15.9 15.9 0 % 17.0 16.5 16.2
ratio1,%
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Tier 1 capital 10.1 9.5 6 % 10.1 9.5 6 % 10.4 10.1 9.6
ratio1,%
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Write-downs on 0.20 0.51 -61 % 0.06 0.09 -33 % 0.02 0.05 0.08
credits/total
credit stock, %
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1 At the end of the period ."Accounts annoncement 1 January - 31 December 2010" is a translation of the
original report in Swedish ("Bokslutskommuniké 1.1-31.12.2010"). In case of
discrepancies, the Swedish version prevails.
We see a person in every customer.
Additional information:
Jussi Laitinen, CEO
Tel. +358 10 247 6210
Stefan Björkman, Vice President and CFO
+358 10 247 6595
Anna Gabrán, Investor Relations Manager
tfn. +358 10 247 6501, +358 40 7081807
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