ABG Sundal Collier

Earnings Release • Jul 5, 2024

ABGSC - Q2 2024 Interim Report

ABGSC - Q2 2024 Interim Report

Highlights:

· Q2 revenues of NOK 510m (+35%)

· Q2 diluted EPS of NOK 0.16 (+129%)

· H1 revenues of NOK 913m (+13%)

· H1 diluted EPS of NOK 0.27 (+42%)

CEO comment:

As we are entering the summer period, we are pleased to report a strong

performance, with Q2 profit before tax of NOK 118m (+132%) and revenues of NOK

510m (+35%). H1 revenues totalled NOK 913m (+13%), which is the second-highest

revenue recorded since 2007.

During the quarter, we completed more than 40 transactions, with all business

lines and geographies contributing well to the strong performance, and with the

business mix remaining balanced and diversified.

Revenues from M&A have continued to grow from strong levels, and the positive

sentiment in Q1 in DCM accelerated into Q2. We note strong demand from credit

investors, and there is an increasing share of new issuers entering the market.

Further evidence of peaking interest rates and signs of declining inflation have

had a positive effect on investor confidence and risk appetite. While activity

in ECM was muted in Q1, we are now seeing indications of a return to normality,

with several transactions executed in the second quarter. While the IPO window

is so far only just ajar, ABGSC has advised on two out of the three main Nordic

market IPO's this year, and we see that the interest among corporates and

investors to execute transactions is picking up.

Our strong position as a trading counterparty and preferred advisor to both

local and international investors active in the Nordic markets is evident in our

Brokerage and Research operations, as they continue to be a consistent

contributor to our top line.

While we are dedicated to providing the best possible execution and outcomes for

our clients, we have also managed to build our mandate backlog. The current

pipeline is diverse across products, industries and geographies and has grown

during the quarter. This, coupled with a gradually improving ECM market, puts us

in a position to continue to deliver good earnings over the coming quarters.

For further information:

Jonas Ström, 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 5 July 2024.