ABG Sundal Collier

Earnings Release • Jul 7, 2023

ABGSC - Q2 2023 Interim Report

ABGSC - Q2 2023 Interim Report

Highlights:

· Risk aversion dampens market activity

· Q2 revenues of NOK 379m (NOK 406m)

· H1 revenues of NOK 805m (NOK 893m)

· H1 diluted EPS of NOK 0.19 (NOK 0.29)

CEO comment:

Once again, another quarter unfolds, and the narrative appears strikingly

familiar. Macro indicators are showing some signs of improvement, but the

business environment we operate in is impacted by fear of continued escalating

inflation and an upcoming recession.

Given the market sentiment, it is crucial to focus on what we can control. It is

more important than ever to ensure that we are on top of all situations and

advise our clients on both creating and seizing opportunities that may still

arise.

This quarter, I would especially like to highlight our leading research and

brokerage operation. Not only are they contributing greatly to our top line, but

by being a preferred advisory and trading counterparty to our broad Nordic and

international investor client base, we cement our position as a trusted advisor

with market leading placing power within the ECM and DCM primary segments. I am

confident that this has been instrumental in us gaining market share, as there

has been, post MiFID II in particular, an escalating trend of institutional

investors consolidating their number of broker counterparties.

Preferably, we would have liked to see increased activity in the M&A and

Corporate Financing markets during the quarter. However, we see the pipeline is

building up and we are well positioned to increase our market share. Worth

highlighting is the acquisition of Foxway by Nordic Capital, where we were sole

advisor in the M&A transaction and sole global coordinator of the EUR 200m high

-yield bond issue. This is yet more proof of the importance of providing a high

-end, full-service offering to our clients. Among several other well-executed

transactions, we were Joint Global Coordinator and Bookrunner in the SEK 2,060m

directed share issue in Sagax and Joint Global Coordinator and Joint Bookrunner

in the NOK 564m IPO of DOF. In addition, we acted as financial advisor to AP7

for the acquisition of 33% of Urban Escape in Stockholm with a property value of

SEK 22bn.

We have executed well on our strategy to leverage our operation, strengthen our

execution capacity and broaden and diversify our product offering. While we will

continue to further develop our new business initiatives as planned, we must

also ensure that we continue to improve our efficiency to fight the impact of

the significant cost inflation observed across all segments. The continuous

hiring of top talent, our modern IT platform in combination with the

organisation embracing new technological innovations should contribute well to

us further improving productivity and thereby strengthening our competitiveness.

In the short- to medium-term, we continue to win mandates and we are confident

in our ability to execute once conditions allow.

For further information:

Jonas Strom, CEO                                +46 8 566 294 68

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

Please find attached the Q2 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 7 July 2023.