ABG Sundal Collier

Earnings Release • Oct 14, 2022

ABGSC - Q3 2022 Interim Report

ABGSC - Q3 2022 Interim Report

Highlights:

· Q3 revenues of NOK 303m and YTD revenues of NOK 1.2bn

· 9M diluted EPS of NOK 0.33

· Continued strong inflow of corporate mandates

CEO comment:

The challenging market backdrop continued and escalated into the third quarter,

as rising inflation and interest rates in combination with a tense geo-political

situation hurt equity and credit markets. Consequently, the equity capital

market almost closed, with Nordic volumes falling to a 4-year low in Q3, while

the high yield debt capital market segment was slightly more open for business.

Compared to previous periods with similar market sentiment, we have improved our

revenue level and relative position. In this context, I would highlight the

closing of several high-yield bonds issues in the quarter, providing more

evidence of our superior investor access leading to significantly higher market

share. Also, secondary brokerage activity held up well as we succeeded in

providing market insight and execution support to our investor clients that are

navigating in troubled waters.

We have advised on a record number of public-to-private transactions in recent

months and thereby cemented our strong market share within this segment. M&A

activity is generally less impacted by short-term market fluctuations and

financial and industrial investors with capital readily available are seizing

the opportunity to acquire assets and companies at lower prices. Still, we have

a slight decline in M&A volumes compared to last year.

Our long-term growth ambition is unchanged, and we are determined to continue to

improve our service offering and market share. However, considering the

cyclicality of our business, we are constantly reviewing our cost base to fight

inflation and to optimise our spending.

Outlook

We continue to focus on winning mandates and being prepared when conditions

allow for raising capital. We are highly focused on fully utilising our leading

M&A franchise in the current market. Also, as many planned equity capital market

(ECM) transactions have been postponed, we often see that they are transforming

into something different, allowing us to benefit from our strength within all

key investment banking product segments.

For further information:

Jonas Strom, CEO            +46 8 566 294 68

Geir B. Olsen, CFO            +47 22 01 60 35

Please find attached the Q3 Interim Report. A presentation will be held as a

webcast at 09:00 CEST and can be accessed through a weblink or call-in details

presented on our corporate website www.abgsc.com.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation article 7 and is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock

exchange announcement was submitted for publication, through the agency of the

contact persons set out above, at 08:00 CEST on 14 October 2022.