Börsiteade
AS LHV Group
LEI kood
529900JG015JC10LED24
Emitendi suuruskategooria
Suur kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Sektor(id)
Krediidiasutus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
10245
Manused
Esitamise kuupäev ja aeg
18.04.2023 08:00:00
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Pealkiri
LHV Groupi 2023. aasta I kvartali auditeerimata majandustulemused
Teade
AS LHV Group teenis käesoleva aasta I kvartalis 33,1 miljonit eurot puhaskasumit ehk 8,7 miljonit eurot enam kui eelmises kvartalis (+36%) ja 20,7 miljonit eurot enam kui aasta tagasi (+167%). LHV Groupi aktsionäridele kuuluva omakapitali tootlus oli I kvartalis 30,4%. AS LHV Pank teenis I kvartalis 37,3 miljonit eurot puhaskasumit. AS LHV Varahaldus teenis I kvartalis 87 tuhat eurot puhaskasumit. AS LHV Kindlustuse puhaskahjumiks kujunes I kvartalis 450 tuhat eurot ning LHV UK Limitedi puhaskahjumiks 2,5 miljonit eurot. Grupp teenis 2023. aasta I kvartalis konsolideeritult 68,4 miljonit eurot tulusid ehk 21% rohkem kui eelmises kvartalis. Tuludest 55,1 miljonit eurot moodustasid neto intressitulud ning 11,9 miljonit eurot neto teenustasutulud. Konsolideerimisgrupi tegevuskulud moodustasid I kvartalis 30,6 miljonit eurot ehk 14% enam kui 2022. aasta IV kvartalis. Märtsi lõpuks oli LHV Groupi konsolideeritud varade maht 6,09 miljardit eurot. Kvartaliga vähenes varade maht 45 miljoni euro võrra ehk 1%. Grupi konsolideeritud hoiused vähenesid I kvartalis 34 miljoni euro võrra 4,87 miljardi euroni (-1%; -268 miljonit eurot 2022. aasta IV kvartalis). Hoiuste vähenemise põhjuseks on finantsvahendajate hoiuste vähenemine ligikaudu 98 miljoni euro võrra, samal ajal kui tavaklientide hoiused kasvasid 64 miljonit eurot. Konsolideeritud laenuportfelli maht vähenes kvartaliga 59 miljoni euro võrra 3,15 miljardi euroni (-2%; +114 miljonit eurot 2022. aasta IV kvartalis). Ettevõtete laenud vähenesid 69 miljoni euro võrra ja jaelaenud suurenesid 10 miljoni euro võrra. LHV poolt juhitud fondide koondmaht suurenes I kvartaliga 119 miljoni euro võrra 1,45 miljardi euroni (+9%; +66 miljonit eurot 2022. aasta IV kvartalis). Finantsvahendajatest klientidega seotud töödeldud maksete arv ulatus I kvartalis 9,1 miljoni makseni (+25% võrreldes 7,3 miljoni maksega 2022. aasta IV kvartalis) Kasvanud intressitulud ning krediidiportfelli hea kvaliteet aitasid LHV Groupil kasumlikkuse eesmärki 11,9 miljoni euro võrra edestada. Finantsplaan püsib. Kasumiaruanne, tuhandetes eurodes I kv 2023 I kv 2022 3 kuud 2023 3 kuud 2022 ------------------------------------------------------------------------------- Neto intressitulu 55 108 25 787 55 108 25 787 ------------------------------------------------------------------------------- Neto teenustasutulu 11 877 10 346 11 877 10 346 ------------------------------------------------------------------------------- Neto finantstulud 1 385 -1 314 1 385 -1 314 ------------------------------------------------------------------------------- Muud tegevustulud 13 -35 13 -35 ------------------------------------------------------------------------------- Tulud kokku 68 383 34 784 68 383 34 784 ------------------------------------------------------------------------------- Personalikulu -15 667 -10 249 -15 667 -10 249 ------------------------------------------------------------------------------- Kontorikulud -767 -522 -767 -522 ------------------------------------------------------------------------------- IT kulud -3 226 -1 649 -3 226 -1 649 ------------------------------------------------------------------------------- Turunduskulud -810 -957 -810 -957 ------------------------------------------------------------------------------- Muud tegevuskulud -10 152 -5 487 -10 152 -5 487 ------------------------------------------------------------------------------- Kulud kokku -30 622 -18 866 -30 622 -18 866 ------------------------------------------------------------------------------- Ärikasum 37 761 15 919 37 761 15 919 ------------------------------------------------------------------------------- Kasum enne allahindlusi 37 761 15 919 37 761 15 919 ------------------------------------------------------------------------------- Laenude allahindlus 1 583 -735 1 583 -735 ------------------------------------------------------------------------------- Tulumaksukulu -6 281 -2 801 -6 281 -2 801 ------------------------------------------------------------------------------- Puhaskasum 33 063 12 383 33 063 12 383 ------------------------------------------------------------------------------- Vähemusosaluse osa 409 503 409 503 ------------------------------------------------------------------------------- Emaettevõtte aktsionäride osa kasumist 32 654 11 880 32 654 11 880 Bilanss, tuhandetes eurodes märts.23 dets.22 märts.22 --------------------------------------------------------------------- Raha ja raha ekvivalendid 2 574 177 2 482 288 3 247 918 --------------------------------------------------------------------- Finantsvarad 297 012 373 584 475 843 --------------------------------------------------------------------- Laenud klientidele 3 167 568 3 229 214 2 771 767 --------------------------------------------------------------------- Laenude allahindlus -18 384 -20 642 -19 244 --------------------------------------------------------------------- Nõuded klientide vastu 19 813 21 019 6 531 --------------------------------------------------------------------- Muud varad 50 353 49 539 33 604 --------------------------------------------------------------------- Varad kokku 6 090 540 6 135 002 6 516 418 --------------------------------------------------------------------- Nõudmiseni hoiused 4 339 971 4 644 843 5 247 061 --------------------------------------------------------------------- Tähtajalised hoiused 526 928 255 672 163 314 --------------------------------------------------------------------- Saadud laenud 539 807 586 254 546 215 --------------------------------------------------------------------- Võlgnevused klientidele 5 406 706 5 486 768 5 956 590 --------------------------------------------------------------------- Muud kohustused 98 876 96 541 113 510 --------------------------------------------------------------------- Allutatud laenud 131 070 130 843 110 374 --------------------------------------------------------------------- Kohustused kokku 5 636 652 5 714 152 6 180 474 --------------------------------------------------------------------- Omakapital 453 888 420 850 335 944 --------------------------------------------------------------------- sh vähemusosaluse osa 7 009 7 908 6 787 --------------------------------------------------------------------- Kohustused ja omakapital kokku 6 090 540 6 135 002 6 516 418 LHV jaoks iseloomustas 2023. aasta algust intressitulude kasv, kuid ka tuntav ärevus majanduses. Kuigi laenude ja hoiuste koondmaht püsis eelmise kvartaliga sarnasel tasemel, prognoosib ettevõte edasiseks kasvu jätkumist. Kvartali jooksul alustas LHV UK Limited Ühendkuningriigis laenude väljastamist. LHV Panga klientide arv kasvas kolme kuuga 13 100 võrra (+3%). Aastaga on pangaklientide arv suurenenud enam kui 53 000 kliendi võrra (+16%). Kasvamas on ka klientide aktiivsus. Kuigi aastaalguse madalseisu järel on märgata uuesti laenunõudluses tugevnemist, tähendas kahe suurema laenu tagasimaksmine koondportfelli kahanemist. Laenuportfelli kvaliteet on hea, maksetähtaja ületanud laenude osakaal on jätkuvalt madal, kuid täheldatav on võlgnevuste vähene kasv väikelaenude puhul. Kvartali jooksul kasvas klientide huvi tähtajalise hoiustamise vastu. Sellele aitasid kaasa intressikeskkonna muutuste taustal mitmel korral kergitatud hoiuste intressid. Aasta alguses liitus pangaga uus investeerimispanganduse meeskond. Lisandumas on endiselt investeerivaid jaekliente - populaarse Kasvukonto omanike arv ületas jaanuaris 50 000 piiri. Kvartali jooksul läbiviidud uuringud näitavad LHV teeninduse ja pakutava kliendikogemuse kõrget taset. Uuringufirma Dive tunnistas LHV pangandussektori teeninduse uuringus parima teenindusega pangaks Eestis. Kantar Emori ja Rait Faktum Ariko ettevõtete soovitusindeksi uuringutes saavutas LHV pankade arvestuses parima tulemuse. Ühtlasi kuulutati LHV Pank veebruaris ärisektori unistuste tööandjaks ja märtsi Top Tööandjaks CV-Online poolt. Nii LHV Tartu kui ka Pärnu kontorile omistati märtsis Euroopa Rohelise Kontori tunnistus. Ühendkuningriigis alustas LHV UK Limited laenude väljastamist ning on tegemas ettevalmistusi äri üleviimiseks loodavasse panka. Tänaseks on poolsada töötajat liikunud AS LHV Pangast Ühendkuningriigi tütarettevõttesse. Alates märtsis alustati ka finantsvahendajate äri tulude jagamist LHV UK Limitediga. LHV Varahalduse jaoks oli 2023. aasta I kvartal aktsiaturgude volatiilsuse taustal tulemuslik. Hallatavate II pensionisamba fondide mahtu kasvatas lisaks tootlusele vahepeal riigi poolt peatatud II samba maksete kompenseerimine koos keskmise tootlusega jaanuaris. Suurimate aktiivselt juhitud LHV pensionifondide M, L ja XL tootluseks kujunes kvartalis vastavalt 1,5%, 2,0% ja 2,3%. Pensionifondide Indeks ja Roheline osakute väärtused tõusid kvartaliga 4,3% ja 5,0%. Varahalduse kasumlikkust mõjutas I kvartalil dividendimaksega kaasnenud tulumaksukulu 0,5 miljonit eurot. LHV Kindlustus jätkas ärimahtude ja efektiivsuse kasvatamist kõikide tooteliinide lõikes. Teenitud preemiad kasvasid I kvartalis 17% ja edestavad finantsplaani. Kvartali lõpu seisuga omasid kliendid 220 tuhat kehtivat kindlustuslepingut. Kvartaliga sõlmiti 13 800 uut kindlustuslepingut ja käsitleti 3735 kahjujuhtumit. Klientide rahulolu kahjukäsitlusega püsib kõrgel tasemel. Märtsis toimunud aktsionäride korralisel üldkoosolekul otsustas Group eelmise majandusaasta eest omanikutulu maksmise. Dividendid 4 senti aktsia kohta maksti aktsionäridele välja 12. aprillil. LHV Groupi kapitaliseeritus on ajaloo kõrgeimal 22,2% tasemel. Investorsuhtluse suurepärasest tasemest annab tunnistus parimate investorsuhete auhinna omistamine LHV Groupile Nasdaq Baltic börside poolt. LHV Groupi juhatuse esimehe Madis Toomsalu kommentaar: "Kiiresti muutuv ärikeskkond eeldab pankadelt kohanemist. Tulude kasvule vastukaaluks tuleb silmas pidada peamiste riskide muutusi ning nende head juhtimist. LHV jaoks oli tegemist tugeva kvartaliga. Intressimäärade kasv koos kvaliteetse laenuportfelliga viis LHV Groupi kapitaliseerituse ajaloo kõrgeimale tasemele. Esimese kvartali laenumahtude langus oli tingitud eelmise aasta lõpu konservatiivsest vaatest majandusele ning kapitalile. Kapitaliseerituse kasvu toel ootame edasiselt laenumahtude kasvu nii Eestis kui Ühendkuningriigis. Oleme ootamas ka Ühendkuningriigi järelevalvelt otsust pangalitsentsi osas, vahepealsed pankade kasvanud riskidega seotud maailma uudised tähendasid meile lisaküsimustele vastamist ning täiendavat ajakulu." AS-i LHV Group aruanded on saadaval aadressil: https://investor.lhv.ee/aruanded (https://www.globenewswire.com/Tracker?data=5OqXDVP_- DuP9JKTibXVFezVBUJtFFKN2Z0PkC- W2PC19kFpXtnMcOiWu0LWrTKE6sCnZ_eMv0VfmVuQ1X8I04HSoAvWJwXt- oFjw4otBnSRCPgUE1aWDIq-RauqRQUd). Kvartali tulemuste tutvustamiseks korraldab LHV Group veebiseminaride keskkonna Zoom kaudu investorkohtumise. Virtuaalne investorkohtumine toimub enne turu avanemist 18. aprillil kell 9.00. Esitlus tehakse eesti keeles. Palume registreeruda aadressil: https://lhvbank.zoom.us/webinar/register/WN_z5PkhBZFSAyNbH3r2KndbA. LHV Group on suurim kodumaine finantskontsern ja kapitali pakkuja Eestis. LHV Groupi peamised tütarettevõtted on LHV Pank, LHV Varahaldus ja LHV Kindlustus. Grupi ettevõtetes töötab üle 920 inimese. LHV pangateenuseid kasutab märtsi lõpu seisuga 391 000 klienti, LHV hallatavatel pensionifondidel on 130 000 aktiivset klienti ja LHV Kindlustusega on kaitstud 155 000 klienti. LHV Ühendkuningriigi filiaal pakub panganduse taristut enam kui 200 rahvusvahelisele finantsteenuste ettevõttele, mille kaudu jõuavad LHV makseteenused klientideni üle terve maailma. Priit Rum LHV kommunikatsioonijuht Telefon: 5020786 E-post: [email protected] (mailto:[email protected])
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Pealkiri
LHV Group unaudited financial results for Q1 2023
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In Q1 of 2023, AS LHV Group earned EUR 33.1 million in net profit, i.e., EUR 8.7 million more compared to last quarter (+36%) and EUR 20.7 million more compared to yoy (+167%). The return on equity attributable to the shareholders of LHV Group was 30.4% in Q1. Within the quarter, AS LHV Pank earned EUR 37.3 million in net profit. In Q1, AS LHV Varahaldus earned EUR 87 thousand euros in net profit. AS LHV Kindlustus generated a net loss of EUR 450 thousand and LHV UK Limited generated a net loss of EUR 2.5 million in the first quarter. Consolidated income of the Group in Q1 of 2023 was EUR 68.4 million, which is 21% more than in the previous quarter. Out of the income, EUR 55.1 million was net interest income and EUR 11.9 million net fee and commission income. The operating expenses of the consolidation group made EUR 30.6 million in Q1, being 14% more compared to Q4 2022. LHV Group's consolidated assets made EUR 6.09 billion euros by the end of March. Over the quarter, the asset volume dropped by EUR 45 million, i.e., by 1%. The Group's consolidated deposits decreased by EUR 34 million, to EUR 4.87 billion in Q1 (-1%; -268 million euros in Q4 2022). The reason for the decrease in deposits was a decline in the deposits of financial intermediaries by nearly EUR 98 million, while the deposits of regular clients increased by EUR 64 million. Compared to the previous quarter, the consolidated loan portfolio decreased by EUR 59 million, to EUR 3.15 billion (-2%; +114 million euros in Q4 2022). Corporate loans decreased by EUR 69 million and retail loans grew by EUR 10 million. The total volume of funds managed by LHV increased by EUR 119 million, to EUR 1.45 billion (+9%; +66 million euros in Q4 2022). The number of processed payments related to financial intermediaries amounted to 9.1 million in Q1 (+25% compared to 7.3 million payments in Q4 2022). The increased interest income and high quality of the credit portfolio contributed to exceeding the profit target of LHV Group by EUR 11.9 million. The financial plan stands. Income statement, EUR thousand Q1-2023 Q1-2022 3 months 2023 3 months 2022 ------------------------------------------------------------------------------- Net interest income 55 108 25 787 55 108 25 787 ------------------------------------------------------------------------------- Net fee and commission income 11 877 10 346 11 877 10 346 ------------------------------------------------------------------------------- Net gains from financial assets 1 385 -1 314 1 385 -1 314 ------------------------------------------------------------------------------- Other income 13 -35 13 -35 ------------------------------------------------------------------------------- Total revenue 68 383 34 784 68 383 34 784 ------------------------------------------------------------------------------- Staff costs -15 667 -10 249 -15 667 -10 249 ------------------------------------------------------------------------------- Office rent and expenses -767 -522 -767 -522 ------------------------------------------------------------------------------- IT expenses -3 226 -1 649 -3 226 -1 649 ------------------------------------------------------------------------------- Marketing expenses -810 -957 -810 -957 ------------------------------------------------------------------------------- Other operating expenses -10 152 -5 487 -10 152 -5 487 ------------------------------------------------------------------------------- Total operating expenses -30 622 -18 866 -30 622 -18 866 ------------------------------------------------------------------------------- EBIT 37 761 15 919 37 761 15 919 ------------------------------------------------------------------------------- Earnings before impairment losses 37 761 15 919 37 761 15 919 ------------------------------------------------------------------------------- Impairment losses on loans and advances 1 583 -735 1 583 -735 ------------------------------------------------------------------------------- Income tax -6 281 -2 801 -6 281 -2 801 ------------------------------------------------------------------------------- Net profit 33 063 12 383 33 063 12 383 ------------------------------------------------------------------------------- Profit attributable to non- controlling interest 409 503 409 503 ------------------------------------------------------------------------------- Profit attributable to share holders of the parent 32 654 11 880 32 654 11 880 Balance sheet, EUR thousand Mar 2023 Dec 2022 Mar 2022 ---------------------------------------------------------------------------- Cash and cash equivalents 2 574 177 2 482 288 3 247 918 ---------------------------------------------------------------------------- Financial assets 297 012 373 584 475 843 ---------------------------------------------------------------------------- Loans granted 3 167 568 3 229 214 2 771 767 ---------------------------------------------------------------------------- Loan impairments -18 384 -20 642 -19 244 ---------------------------------------------------------------------------- Receivables from customers 19 813 21 019 6 531 ---------------------------------------------------------------------------- Other assets 50 353 49 539 33 604 ---------------------------------------------------------------------------- Total assets 6 090 540 6 135 002 6 516 418 ---------------------------------------------------------------------------- Demand deposits 4 339 971 4 644 843 5 247 061 ---------------------------------------------------------------------------- Term deposits 526 928 255 672 163 314 ---------------------------------------------------------------------------- Loans received 539 807 586 254 546 215 ---------------------------------------------------------------------------- Loans received and deposits from customers 5 406 706 5 486 768 5 956 590 ---------------------------------------------------------------------------- Other liabilities 98 876 96 541 113 510 ---------------------------------------------------------------------------- Subordinated loans 131 070 130 843 110 374 ---------------------------------------------------------------------------- Total liabilities 5 636 652 5 714 152 6 180 474 ---------------------------------------------------------------------------- Equity 453 888 420 850 335 944 ---------------------------------------------------------------------------- Minority interest 7 009 7 908 6 787 ---------------------------------------------------------------------------- Total liabilities and equity 6 090 540 6 135 002 6 516 418 For LHV, the beginning of the financial year of 2023 was characterised by an increase in interest income, but also by perceptible anxiety in economy. Although the aggregated loan and deposit volume remained on the same level with the previous quarter, the company foresees continuous growth in the future. During the quarter, LHV UK Limited started the issuing of loans in the United Kingdom. The number of LHV Pank clients increased by 13,100 (+3%) in three months. In a year, the number of bank clients has risen by 53,000 (+16%). Also, the activity of clients is increasing. While we can notice a resurgence in loan demand after the depression at the beginning of the year, repayment of two larger loans still meant a shrinkage on the aggregated portfolio level. The loan portfolio quality is good, the share of overdue loans continues to be low, however we can see some increase in debts of consumer loans. Over the quarter, the clients' interest in term deposits grew. Several deposit rate hikes against the background of changes in the interest rate environment contributed to this. At the beginning of the year, a new investment banking team joined the bank. The number of investing retail clients is still increasing - in January, the number of the popular Growth Account exceeded the 50,000 threshold. Surveys conducted during the quarter demonstrate the high level of LHV's service and the offered customer experience. In its banking sector service research, the survey company Dive has named LHV the bank with the best customer service in Estonia. In the net promoter score surveys, conducted by Kantar Emor and Rait Faktum Ariko, LHV achieved the best result among banks. Also, LHV Pank was elected the Dream Employer of Business Sector in February and CV-Online declared LHV the Top Employer in March. Both LHV Tartu as well as Pärnu branch were awarded the European Green Office certification in March. LHV UK Limited started issuing loans in the United Kingdom and is making preparations for the transfer of business to the new bank. As of now, nearly 50 employees have moved from AS LHV Pank to the subsidiary in the United Kingdom. In March, sharing of the banking services' business income with LHV UK Limited started as well. For LHV Varahaldus, Q1 of 2023 was effective against a backdrop of stock market volatility. In addition to the rate of return, the volume of managed II pillar pension funds increased due to the compensation of II pillar contributions by the state in the meantime together with the average rate of return in January. The quarterly rate of return of the largest actively managed LHV pension funds M, L, and XL was 1.5%, 2.0%, and 2.3%, respectively. The unit values of pension funds Indeks and Roheline increased 4.3% and 5.0%, during the quarter. The profitability of Varahaldus in Q1 was affected by the income tax expense of EUR 0.5 million due to dividend payment. LHV Kindlustus continued to increase business volumes and efficiency by all product lines. The collected premiums increased by 17% in Q1 and outperform the financial plan. As at the end of the quarter, the clients had 220 thousand valid insurance contracts. During the quarter, 13,800 new insurance contracts were concluded and 3735 loss events handled. Customer satisfaction with claims handling remains at a high level. At the General Meeting, held in March, the Group decided to pay revenue from ownership for the previous financial year. Dividends of 4 cents per share were paid out to the shareholders on 12 April. The capitalisation of LHV Group is at the highest level in history (22.2%). The excellent level of investor relations is evidenced by the award of the best investor relations granted to LHV Group by the Nasdaq Baltic Stock Exchanges. Comment by Madis Toomsalu, Chairman of the Management Board at LHV Group: "The rapidly changing business environment requires the banks to adapt. Against the increased income, changes in the main risks and their good management must be borne in mind. For LHV, it was a strong quarter. The rise in interest rates together with a high-quality loan portfolio took the Group's capitalisation to the highest level in history. The decrease in the loan volumes in Q1 was caused by the conservative view on economy and capital at the end of the last year. On the back of capitalisation growth, we expect further growth in lending volumes in both Estonia and the United Kingdom. We are also waiting for the decision of the supervision authorities of the United Kingdom on the banking licence. The global news concerning the increased risks of banks in the meantime meant answering additional questions by us and extra time." To access the reports of AS LHV Group, please visit the website at https://investor.lhv.ee/en/reports/. In order to introduce the quarterly results, LHV Group will organise an investor meeting via the Zoom webinar environment. The virtual investor meeting will take place on 18 April, at 9:00, before the market opens. The presentation will be in Estonian. We kindly ask you to register at the following address: https://lhvbank.zoom.us/webinar/register/WN_z5PkhBZFSAyNbH3r2KndbA. LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group's companies employ more than 920 people. As at the end of March, LHV's banking services are being used by 391,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus is protecting a total of 155,000 clients. LHV's UK branch offers banking infrastructure to 200 international financial services companies, via which LHV's payment services reach clients around the world. Priit Rum LHV Communication Manager Phone: +372 502 0786 Email: [email protected] (mailto:[email protected])