LHV Group — Earnings Release 2021

Feb 16, 2021

LHV Group

Strong month in all business lines

Financial results, EURt	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Total revenue, incl.		9,542	9,542	7,566	9,349	+193
Net interest income		6.717	6.717	5,340	6.848	-131
Net fee and commission income		3,032	3,032	2,166	2,324	+708
Total operating expenses		4,311	4,311	3,497	4,447	-136
Earnings before impairment		5,232	5,232	4,069	4,902	+329
Impairment losses on loans		830	830	147	590	+239
Income tax		621	621	416	592	+29
Net profit, incl.		3,781	3,781	3,506	3,720	+61
attr. to shareholders		3,619	3.619	3,298	3.493	+126
Business volumes, EURm	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Deposits from customers		4,431	4,431	2,796	4,100	+330
Loans (net)		2,261	2,261	1,739	2,219	+43
Assets under management		1,590	1,590	1,374	1,583	+6
Key figures	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Cost / income ratio (C/I)		45.2%	45.2%	46.2%	47.6%	2.4 pp
pre-tax ROE*		20.7%	21.1%	22.0%	20.7%	+ 0.5 pp
ROE*		17.9%	18.2%	19.5%	17.7%	+ 0.5 pp
Net interest margin (NIM)		1.5%	1.5%	2.1%	1.6%	0.1 pp
ROA		0.9%	0.9%	1.3%	0.9%	0.0 pp -

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Strong growth in loan volumes and revenues

Financial results, EURt	13 months	Jan-21	YTD21	YTD20		FP YTD
Total revenue, incl.		8,806	8,806	6,661	8,482	+323
Net interest income		6,843	6,843	5,315	6,923	-79
Net fee and commission income		2,226	2,226	1,339	1,530	+696
Total operating expenses		3,627	3,627	2,932	3,651	-24
Earnings before impairment		5,179	5,179	3,728	4,831	+348
Impairment losses on loans		830	830	147	590	+239
Income tax		586	586	416	592	-6
Net profit		3,763	3,763	3,165	3,648	+115
Business volumes, EURm	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Deposits from customers		4,453	4,453	2,808	4.122	+331
Loans (net)		2,261	2,261	1,739	2,219	+43
Key figures	13 months	Jan-21	YTD21	YTD20		FP YTD
Cost / income ratio (C/I)		41.2%	41.2%	44.0%	43.0%	1.9 pp
Net interest margin (NIM)		1.6%	1.6%	2.1%	1.7%	0.1 pp

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Substantial growth in assets under management

Financial results, EURt	13 months	Jan-21	YTD21	YTD20		FP YTD △ YTD FP
Total revenue		870	870	877	826	+43
Total expenses		565	565	489	રૂડિત જિલ્લામાં આવેલું એક ગામનાં લોકોનો મુખ્ય વ્યવસાય ખેતી, ખેતમજૂરી તેમ જ પશુપાલન છે. આ ગામમાં મુખ્યત્વે ખેત	+26
Earnings before taxes		304	304	388	287	+17
Income tax		0	0	0	0	+0
Net profit		304	304	388	287	+17
Business volumes	13 months	Jan-21	YTD21	YTD20		FP YTD A YTD FP
Assets under management, EURm -		1,590	1,590	1,374	1,583	+6
Active customers of PII funds, th.		180	180	170	177	+3
Key figures	13 months	Jan-21	YTD21	YTD20		FP YTD Δ YTD FP
Cost / income ratio (C/I)		65.0%	65.0%	59.1%	65.3%	0.3 pp

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First month of insurance activities

Financial results, EURt	13 months	Jan-21	YTD21	YTD20		FP YTD
Total revenue, incl.		-2	-2	0	124	-127
Net earned premiums		-2	-2	0	290	-292
Net incurred losses		0	0	0	70	-70
Total expenses		115	115	0	144	-29
Earnings before taxes		-17	-17	0	-19	-98
Income tax		0	O	0	0	+0
Net loss		-17	-17	0	-19	-98
	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Business volumes Gross written premium		4	4	0	4,069	-4,065
No of Customers		24	24	0	na	na
Key figures	13 months	Jan-21	YTD21	YTD20	FP YTD	A YTD FP
Net loss ratio		na	na	na	24.1%	na

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Madis Toomsalu madis.toomsalu@lhv.ee

Meelis Paakspuu meelis.paakspuu@lhv.ee