Evli Pankki Oyj - Financial Statement Release

Evli Bank Plc's Financial Statements 1-12/2016

Evli Bank Plc's Financial Statements 1-12/2016

EVLI BANK PLC STOCK EXCHANGE RELEASE JANUARY 24, 2017, AT 10.30 AM

EVLI BANK PLC'S FINANCIAL STATEMENTS 1-12/2016:
Stable result despite weaknesses in the brokerage business

January-December 2016

  * The Group's net revenue was EUR 60.0 million (1-12/2015: EUR 64.2 million).
  * The Group's operating profit was EUR 11.1 million (EUR 13.3 million).
  * The Group's profit was EUR 9.7 million (EUR 12.3 million).
  * Evli's diluted earnings per share were EUR 0.40 (EUR 0.53).
  * A dividend of EUR 0.40 per share is proposed (EUR 0.31 per share).
  * Net assets under management grew year on year and totaled a record EUR 10.6
    billion (EUR 9.4 billion) at the end of December.
October-December 2016

  * The Group's net revenue was EUR 15.9 million (EUR 18.0 million).
  * The Group's operating profit for the review period was EUR 3.3 million (EUR
    4.0 million).
  * The Group's profit was EUR 1.8 million (EUR 5.4 million). The profit for the
    comparison period was positively affected by a divestment of business
    carried out by the associated company Northern Horizon Capital where Evli's
    share of the sales profit was EUR 2 million.
  * Earnings per share amounted to EUR 0.07 (EUR 0.25).
Outlook for 2017

The stable performance of Evli's Wealth Management unit is expected to continue.
As a result, the proportion of recurring revenue to operating expenses is
expected to reach the long-term target level of 100 percent. The Corporate
Finance unit's mandate base is good. Substantial fluctuations in annual profits
are possible for the unit. We believe that the result for 2017 will be clearly
positive.

                                   10-12/ 2016 10-12/ 2015 1-12/ 2016 1-12/ 2015
--------------------------------------------------------------------------------
Sales, M€                          16,4        18,6        62,1       66,0
--------------------------------------------------------------------------------
Net revenue, M€                    15,9        18,0        60,0       64,2
--------------------------------------------------------------------------------
Operating profit/loss, M€          3,3         4,0         11,1       13,3
--------------------------------------------------------------------------------
Profit / Loss for financial year,  1,8         5,4         9,7        12,3
M€
--------------------------------------------------------------------------------
Operating profit/loss % of net     20,7 %      22,4 %      18,5 %     20,6 %
revenue
--------------------------------------------------------------------------------
Earnings/share (EPS)               0,08        0,26        0,42       0,54
--------------------------------------------------------------------------------
Diluted earnings/share IFRS        0,07        0,25        0,40       0,53
--------------------------------------------------------------------------------
Return on equity % (ROE)*          -           -           14,3       20,2
--------------------------------------------------------------------------------
Recurring revenue ratio, %         -           -           94 %       93 %
--------------------------------------------------------------------------------
Dividend/share**                   -           -           0,40       0,31
--------------------------------------------------------------------------------
Shareholders' equity per share     -           -           2,81       2,96
--------------------------------------------------------------------------------
Market value, M€***                -           -           157,37     190,94
--------------------------------------------------------------------------------
Share price in end of period       -           -           6,75       8,19
--------------------------------------------------------------------------------
Personnel in end of period         -           -           244        248


**2016 Board proposal for dividend
**Series A shares are valued at the closing value of the series B shares.

Maunu Lehtimäki, CEO

"In financial terms 2016 was a challenging year for Evli. Our revenue declined
in 2016 by about seven percent and profit before taxes 16 percent from the
previous year. This was because of a considerable decline, of about 20 percent,
in brokerage commissions and because performance-based fees were lower than they
were in 2015.

The strong performance in Wealth Management continued and we reached a
significant milestone as the Group's client assets under management exceeded EUR
10 billion. There were record net subscriptions to our funds of over EUR 1
billion, which increased our fund capital to EUR 6.5 billion and our market
share to six percent. We are very pleased with this development, which again
proves that the strategic alignment that we carried out over a decade ago to
increase the share of asset management in our operations was an excellent
decision.

The Corporate Finance-units development was stable and the unit participated in
several transactions in Finland and Sweden. Evli has been able to gain a steady
foothold in the M&A market, especially in Sweden. The unit has further
strengthened its operations by increasing its senior advisor network during the
year.

The decline in brokerage commissions has been a long-term trend throughout the
sector, but in Finland this trend became much steeper in 2016. For a long time
now we have been adjusting our Markets business according to the declining
commissions. In 2016 we continued our adjustment measures by reducing the cost
structure and setting up two new areas of operation with which we aim to acquire
entirely new business and clientele.

In our first full year as a listed company we achieved a stable financial result
in an uncertain market environment. We also received plenty of recognition for
our expertise from various parties and we built a strong foundation for our
future success. Our outlook for 2017 has remained unchanged and we anticipate
that the result for 2017 will be clearly positive."



EVLI BANK PLC



For additional information, please contact:

Maunu Lehtimäki, CEO, tel. +358 (9) 4766 9304 or +358 (0)50 553 3000,
maunu.lehtimaki@evli.com
Juho Mikola, CFO, Evli Bank Plc, tel. +358 (0)9 4766 9871 or +358 (0)40
717 8888, juho.mikola@evli.com



Invitation to investor and analyst meeting

Maunu Lehtimäki, CEO, and Juho Mikola, CFO, will present the preliminary result
to investors and analysts in Finnish on Tuesday, January 24, 2016 at 1.00 p.m.
at Evli Bank, address Aleksanterinkatu 19 A, 4 fl, Helsinki. The presentation
material will afterwards be available in English on Evli's website at
www.evli.com > Investors.


Evli Bank Plc's Financial Review 2016 will be published on week 7



Evli Bank Plc in brief

Evli is a genuine private bank specializing in investment that helps private
persons and institutions increase their wealth. The company offers asset
management services, capital markets related services, such as brokerage of
equities and other instruments, market making, investment research and a full
range of Corporate Finance services.



Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com




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EVLI BANK PLCS FINANCIAL STATEMENTS 1-12_2016.pdf