LHV Group — Earnings Release 2021

Dec 14, 2021

LHV Group

Business volumes grow along with customer activity

Financial results, EURt	13 months	Nov-21	YTD21	YTD20		FP YTD △ YTD FP
Total revenue, incl.		12,058	122,548	87,229	119,686	+2,862
Net interest income		8,612	86.400	61,828	86.390	+11
Net fee and commission income		4.192	36.610	24,422	33,063	+3,547
Total operating expenses		6,289	59,032	40,861	56,273	+2,759
Earnings before impairment		5,769	63,516	46,368	63,413	+103
Impairment losses on loans		182	2,362	10,900	5,585	-3,223
Income tax		088	9.576	6,681	9.106	+470
Net profit, incl.		4,599	51,578	28,787	48,722	+2,856
attr. to shareholders		4,459	49,742	26,635	46,931	+2,811
Business volumes, EURm	13 months	Nov-21	YTD21	YTD20	FP YTD	A YTD FP
Deposits from customers		6,003	6,003	3,629	5,056	+946
Loans (net)		2,621	2,621	2,166	2,573	+48
Assets under management		1,334	1,334	1,525	1,344	-9
Fin. intermediaries' payments, thous. pcs		2,618	25,140	14,112	na	na
Key figures	13 months	Nov-21	YTD21	YTD20	FP YTD	A YTD FP
Cost / income ratio (C/I)		52.2%	48.2%	46.8%	47.0%	+ 1.2 pp
Net interest margin (NIM)		1.5%	1.6%	2.0%	1.6%	- 0.1 pp
pre-tax ROE*		21.6%	23.6%	16.3%	22.4%	+ 1.2 pp
ROE*		17.8%	19.9%	13.6%	18.9%	+ 1.0 pp
ROA		0.8%	0.9%	0.9%	0.9%	+ 0.0 pp

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Active investing brings customers and income from fees and commissions

Financial results, EURt	13 months	Nov-21	YTD21	YTD20		FP YTD Δ YTD FP
Total revenue, incl.		11,441	113,253	79,175	110,610	+2,643
Net interest income		8,666	86,694	62,276	86,799	-106
Net fee and commission income		3,517	27,593	16,407	23,888	+3,705
Total operating expenses		4,936	44,509	33,884	42,654	+1,856
Earnings before impairment		6,504	68,743	45,291	67,956	+787
Impairment losses on loans		182	2,362	10,900	5,585	-3,223
Income tax		વેરૂડે જેવી સ	9,182	5,435	8,663	+519
Net profit		5,369	57,199	28,955	53,708	+3,491
Business volumes, EURm	13 months	Nov-21	YTD21	YTD20	FP YTD	A YTD FP
Deposits from customers		6,047	6,047	3,646	5,102	+944
Loans (net)		2,621	2,621	2,166	2,573	+48
Key figures	13 months	Nov-21	YTD21	YTD20		FP YTD A YTD FP
Cost / income ratio (C/I)		43.1%	39.3%	42.8%	38.6%	+ 0.7 pp
Net interest margin (NIM)		1.5%	1.6%	1.9%	1.7%	0.1 pp

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Revenue and profitability ahead of the financial plan

Financial results, EURt	13 months	Nov-21	YTD21	YTD20		FP YTD
Total revenue		638	8,727	8,495	8.463	+264
Total expenses		706	9,503	5,844	9,498	+5
Earnings before taxes		-68	-776	2,651	-1,035	+260
Income tax	���� ��������	0	1,241	844	1,241	+0
Net profit		-68	-2,017	1,807	-2,276	+260
Business volumes	13 months	Nov-21	YTD21	YTD20	FP YTD	A YTD FP
Assets under management, EURm		1,334	1,334	1,525	1,344	-9
Active customers of PII funds, thous.		138	138	180	142	-4
Key figures	13 months	Nov-21	YTD21	YTD20	FP YTD	△ YTD FP
Cost / income ratio (C/I)		110.6%	108.9%	72.9%	112.2%	- 3.3 pp

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Growing business volumes along with high customer satisfaction

Financial results, EURt	13 months	Nov-21	YTD21	YTD20		FP YTD △ YTD FP
Total revenue, incl.		51	1,032	0	1,128	-95
Net earned premiums		306	1,925	0	2,000	-75
Net incurred losses		234	814	0	688	+126
Total expenses		ਰੇਰੇ	1,716	442	1,789	-73
Earnings before taxes		-48	-684	-442	-662	-22
Net profit		-48	-684	-442	-662	-23
Business volumes	13 months	Nov-21	YTD21	YTD20		FP YTD
Gross written premium, EURt		544	6,231	0	6,661	-430
No of Customers (thous.)		142	142	0	na	na
Key figures	13 months	Nov-21	YTD21	YTD20		FP YTD
Net loss ratio		76.4%	42.3%	na	34.4%	+ 7.9 pp

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Madis Toomsalu madis.toomsalu@lhv.ee

Meelis Paakspuu meelis.paakspuu@lhv.ee