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LHV Group Earnings Release 2021

May 11, 2021

Earnings Release

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Financial results, EURt	13 months	Apr-21	YTD21	YTD ₂₀	FP YTD	Δ YTD FP
Total revenue, incl.		9,896	38,661	30,056	37,152	$+1,509$
Net interest income		7,058	27,429	21,582	27,114	$+315$
Net fee and commission income		2,631	11,271	8,507	9,337	$+1,933$
Total operating expenses		4,906	18,666	14,714	18,052	$+614$
Earnings before impairment		4,989	19,994	15,342	19,100	$+895$
Impairment losses on loans		$\overline{0}$	1,601	6,638	2,945	$-1,344$
Income tax		790	2,778	2,809	2,284	$+494$
Net profit, incl.		4,200	15,616	5,895	13,871	$+1,745$
attr. to shareholders		4,078	15,121	5,356	13,444	$+1,677$

Business volumes, EURm	13 months	Apr-21	YTD21	YTD20	FP YTD	Δ YTD FP
Deposits from customers		4,701	4,701	3,038	4,081	$+620$
Loans (net)		2,321	2,321	1,746	2,292	$+29$
Assets under management		1,595	1,595	1,403	1,606	$-11$
Key figures	13 months	Apr-21	YTD21	YTD ₂₀	FP YTD	Δ YTD FP
Cost / income ratio (C/I)		49.6%	48.3%	49.0%	48.6%	$-0.3$ pp
pre-tax ROE*		23.8%	22.1%	11.7%	19.2%	$+2.8$ pp
ROE*		20.1%	18.8%	8.0%	16.9%	$+1.9$ pp
Net interest margin (NIM)		1.5%	1.5%	2.2%	1.7%	$-0.1$ pp

Financial results, EURt	13 months	Apr-21	YTD21	YTD20	FP YTD	YTD FP Δ
Total revenue, incl.		9,107	35,792	27,100	33,831	$+1,961$
Net interest income		7,186	27,943	21,482	27,405	$+538$
Net fee and commission income		1,873	8,237	5,654	6,307	$+1,931$
Total operating expenses		4,024	15,472	12,409	14,662	$+809$
Earnings before impairment		5,083	20,320	14,691	19,168	$+1,152$
Impairment losses on loans		$\overline{0}$	1,601	6,638	2,945	$-1,344$
Income tax		755	2,629	1,964	2,284	$+346$
Net profit		4,328	16,090	6,089	13,940	$+2,150$

Business volumes, EURm	13 months	Apr-21	YTD21	YTD20	FP YTD	Δ YTD FP
Deposits from customers		4,727	4,727	3,043	4,105	$+622$
Loans (net)		2,321	2,321	1,746	2,292	$+29$
Key figures	13 months	Apr-21	YTD21	YTD20	FP YTD	Δ YTD FP
Cost / income ratio (C/I)		44.2%	43.2%	45.8%	43.3%	$-0.1$ pp
Net interest margin (NIM)		1.6%	1.6%	2.1%	1.7%	$-0.1$ pp

Financial results, EURt	13 months	Apr-21	YTD21	YTD ₂₀	FP YTD	YTD FP
Total revenue		794	3,214	2,844	3,152	$+63$
Total expenses		564	2,318	2,065	2,216	$+102$
Earnings before taxes		230	896	779	935	$-39$
Income tax		0	1,241	844	1,241	$+0$
Net profit		230	$-345$	$-65$	$-306$	$-39$


Business volumes	13 months	Apr-21	YTD21	YTD20	FP YTD	YTD FP $\Delta$
Assets under management, EURm		1,595	1,595	1,403	1,606	$-11$
Active customers of PII funds, thous.		175	175	172	177	$-2$

Key figures	13 months	Apr-21	YTD21	YTD ₂₀	FP YTD	Δ YTD FP
Cost / income ratio (C/I)		71.0%	72.1%	72.4%	70.3%	$+1.8$ pp

Financial results, EURt	13 months	Apr-21	YTD21	YTD20	FP YTD	Δ YTD FP
Total revenue, incl.		129	218	0	488	$-270$
Net earned premiums		140	230	0	1,230	$-999$
Net incurred losses		10	12	0	355	$-343$
Total expenses		152	517	0	629	$-113$
Earnings before taxes		$-23$	$-298$	0	$-141$	$-157$
Income tax		$\Omega$	0		O	$+0$
Net profit		$-23$	$-298$	0	$-141$	$-157$
Business volumes	13 months	Apr-21	YTD21	YTD ₂₀	FP YTD	YTD FP Δ
Gross written premium, EURt		747	2,882	0	5,441	$-2,559$
No of Customers (thous.)		128	128	0	na	na
Key figures	13 months	Apr-21	YTD21	YTD20	FP YTD	Δ YTD FP
Net loss ratio		7.4%	5.1%	na	28.8%	$-23.8$ pp
Net expense ratio		109.0%	224.6%	na		$82.7\% + 141.9$ pp