Sweden in the light of the global financial melt-down
|
|
|
- Wilfrid Morton
- 8 years ago
- Views:
Transcription
1 Peter Malmqvist Sweden in the light of the global financial melt-down Earnings development The banking crises The real estate crash Economic trends The Greek crisis Equity trends
2 Peter Malmqvist Present Chairman, Sw. Assoc. of Financial Analyst Investigator at the Stockholm Exchange Part-time teacher at Stockholm School of Economics and Stockholm University Columns in the business magazines: Privata Affärer, Aktiespararen, Sunt förnuft, Fastighetsnytt, Balans Past Head of equity research at Nordnet Bank Member of The EFRAG User Panel Head of equity research and asset management at Aragon Securities Business journalist at Svenska Dagbladet, Swedish Public TV (Aktuellt), Sydsvenska Dagbladet Private Equity Analyst (The Swedish Investment Bank AB) Accountant (Ernst & Young)
3 The Swedish financial crices Earnings development Stockholm
4 Stockholm earnings Vinster/Earnings (Q1) Base 100 = 1975 Moving average 4 quarters
5 USA earnings (S&P) S&P (USA) Kurs Share prices Index Earnings Vinst S&P EPS x 17 Standard & Poors, 500 Composite, Index Source: Reuters EcoWin
6 Stockholm Earnings Stockholm - Årsvinst (annual earnings) Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B) AZN 30%, ABB 30%, Stora 50%, Nokia 7%
7 Stockholm Earnings engineering 120 Verkstadssektorn (Engineering) Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B) ABB 30%
8 Stockholm Earnings banks Finansiella tjänster (Financials) Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B) 60% Nordea
9 Stockholm Earnings banks Handelsbanken Resultat före skatt (Earnings before taxes), Mn SEK
10 Stockholm Earnings banks Nordea Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B)
11 Stockholm Earnings banks SEB Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B)
12 Stockholm Earnings banks Swedbank Resultat före skatt (Earnings before taxes), Mdr SEK (SEK B)
13 Equity trends Equity trends
14 Share price indices Index
15 Share price indices
16 Currency development
17 The crash in 2008 The banking crisis
18 The banking crises Lehman Brothers billions) USD (b
19 The banking crises Lehman Brothers Percent
20 The banking crises Lehman Brothers Percent
21 The banking crises Lehman Brothers Percent
22 The banking crises Lehman Brothers Percent
23 The banking crises Lehman Brothers rcent Per
24 The banking crises Lehman Brothers ercent Pe
25 The banking crises Lehman Brothers Percent
26 The banking crises Lehman Brothers ercent Pe
27 The crash in 2008 The real estate crash
28 The real estate bubble Index
29 The real estate bubble USA Sweden Index
30 The real estate bubble
31 The real estate bubble SEK (billions)
32 Economic trends Economic trends
33 Economic trends 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14% Tillväxtindikator (Growth indicator) Årstakt (Y o Y) Industriproduktion Detaljhandel Bilförsäljning Industrial production Retail sales Car sales Sweden Global
34 Economic trends 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14% Tillväxtindikator (Growth indicator) Årstakt (Y o Y) Industriproduktion Detaljhandel Bilförsäljning Germany Industrial production Retail sales Car sales Sweden
35 Economic trends 10% 5% 0% -5% -10% Industriproduktion (Industrial Production) Årstakt (Y o Y) Global -15% -20% -25% Sweden
36 Economic trends 10% 5% 0% -5% -10% Industriproduktion (Industrial Production) Årstakt (Y o Y) Germany -15% -20% -25% Sweden
37 Economic trends 10% 8% 6% 4% Detaljhandel, exkl bilar (Retail Sales, excl cars) Volym, Årstakt (Volume, Y o Y) Sweden Global 2% 0% -2% -4% -6%
38 Economic trends 10% 8% 6% Detaljhandel, exkl bilar (Retail Sales, excl cars) Volym, Årstakt (Volume, Y o Y) Sweden 4% 2% 0% -2% -4% -6% Germany
39 Economic trends 20% 15% Bilförsäljning (Car Sales) Årstakt, rullande 12 mån (Y o Y, ma 12 month) 10% 5% Global 0% -5% -10% -15% -20% Sweden
40 Economic trends 20% 15% 10% Bilförsäljning (Car Sales) Årstakt, rullande 12 mån (Y o Y, ma 12 month) Germany 5% 0% -5% -10% -15% -20% Sweden
41 Economic trends Purchasing Managers Index Sweden(black), Global (grey)
42 Economic trends Purchasing Managers Index Sweden(black), Germany (grey)
43 Economic trends 3,0% 2,0% 1,0% 0,0% -1,0% -2,0% -3,0% Employment growth Global Sweden -4,0%
44 Economic trends 3,0% 2,0% 1,0% 0,0% -1,0% -2,0% -3,0% Employment growth Germany Sweden -4,0%
45 Economic trends Percent
46 Government finances The Greek crisis
47 The Greek crisis Government budget surplus/deficit % GDP
48 The Greek crisis 2009 Budget Governm deficit debt % GDP % GDP Sweden -0,8 42 Germany -3,3 73 Italy -5,2 116 Portugal -9,4 77 USA -9,7 85 Spain -11,2 53 U.K -11,4 68 Ireland -12,2 64 Greece -13,5 115
49 The Greek crisis Current account, surplus/deficit % GDP hundredt ths
50 The Greek crisis 2009 Budget Governm Current deficit debt account % GDP % GDP % GDP Sweden -0,8 42 7,2 Germany -3,3 73 4,9 Italy -5, ,1 Portugal -9, ,3 USA -9,7 85-2,9 Spain -11,2 53-5,4 U.K -11,4 68-1,3 Ireland -12,2 64-3,7 Greece -13, ,2
51 The Greek crisis Current account, surplus/deficit % GDP hundredt ths
Stockholm Monthly Fixed Income Report
Stockholm Monthly Fixed Income Report March 211 Contents Sthlm FI Market Overview of the Stockholm fixed income market Retail Bonds Retail Bonds Total Structured Products Retail Bonds Yield Retail Bonds
SHARE INFORMATION SHARE TREND, THE STOCKHOLM STOCK EXCHANGE, 2003 2005 30 SHARE TURNOVER 2005 (MILLION SHARES) 6,000. London NASDAQ Stockholm 5,000
SHARE INFORMATION STOCK EXCHANGE TRADING Ericsson s Class A and Class B shares are traded on the Stockholm Stock Exchange (Stockholmsbörsen) and the Class B shares are also traded on the London Stock Exchange.
SEB s Swedish Residential Mortgage Lending and Covered Bonds. Stockholm September, 2013
SEB s Swedish Residential Mortgage Lending and Covered Bonds Stockholm September, 2013 Contents SEB s Residential Mortgage Lending p.3 Asset Quality p.19 Cover Pool and Covered Bond Funding p.24 2 SEB
Security for the individual growth for the economy
INSURANCE IN SWEDEN STATISTICS 214 Security for the individual growth for the economy We are all exposed to risk. It might be the risk of being in a traffic accident or of a fire in your home. It could
n Economic Commentaries
n Economic Commentaries The OTC derivatives market fulfils an important function in the financial system. Consequently, risk management must be good and transparency high in this market. An EU regulation
The Norwegian economy
The Norwegian economy Slower speed ahead, but still growth Strong mechanisms support mainland economy Wriggle room to smooth business cycles Rune Bjerke CEO Just how bad is it? Slower speed ahead but still
Financial Stability 2/12. Charts
Financial Stability /1 Charts Chart 1.1 Vulnerabilities in the Norwegian banking sector and external sources of risk to the banking sector 1) Vulnerability in banking sector External sources of risk to
Conducting Monetary Policy with Large Public Debts. Gita Gopinath Harvard University
Conducting Monetary Policy with Large Public Debts Gita Gopinath Harvard University 1 Large Public Debts Net Government debt to GDP Greece 155 Japan 134 Portugal 111 Italy 103 Ireland 102 United States
Low repo rate supports upturn in inflation. Governor Stefan Ingves Bank & Finans Outlook 18 March 2015
Low repo rate supports upturn in inflation Governor Stefan Ingves Bank & Finans Outlook 18 March 2015 Sweden - a small open economy in an uncertain world Large oil price fluctuations Negative interest
OP-Pohjola Group and Pohjola Bank plc
OP-Pohjola Group and Pohjola Bank plc (formerly OKO Bank) OP-Pohjola Group Issuing entities Pohjola Bank plc and OP Mortgage Bank 2 Leading financial services provider in Finland Number one in Deposits,
Finansinspektionen s stress tests of major Swedish banks 1
MEMORANDUM Date 2013-11-14 Finansinspektionen Box 7821 SE-103 97 Stockholm [Brunnsgatan 3] Tel +46 8 787 80 00 Fax +46 8 24 13 35 finansinspektionen@fi.se www.fi.se Finansinspektionen s stress tests of
THOMSON REUTERS LIPPER
THOMSON REUTERS LIPPER EUROPEAN FUND FLOWS REPORT: SEPTEMBER 2015 Please attribute the content to Detlef Glow, Lipper s head of EMEA research and the author of this report. Date of issue: October 19, 2015
Increasing market share in a receding market
Interim report for the first quarter of the financial year 2008/2009 Increasing market share in a receding market First quarter (September November 2008) KappAhl s net sales (excluding VAT) for the period
UPDATE ON CURRENT MACRO ENVIRONMENT
1 Oct 213 Macro & Strategy Equity Credit Commodities 13 13 #1 Global Strategy #1 Multi Asset Research #3 Global Economics #2 Equity Quant #2 Index Analysis #3 SRI Research 12 sector teams in the Top 1
Key Highlights on Italian Economy
Key Highlights on Italian Economy Incontro con l Ambasciatore Reinhard Schäfers e il prof. Roland Berger Franco Bassanini 25 Marzo 2014 Cassa depositi e prestiti Italian economy / Key highlights GDP is
Overcoming the Debt Crisis and Securing Growth- Irreconcilable Challenges for the Euro-zone?
Franco-German Conference Overcoming the Debt Crisis and Securing Growth- Irreconcilable Challenges for the Euro-zone? Cinzia Alcidi, CEPS May 3, 2010, Paris Outline: General post crisis background Debt
Insurance in Sweden 2011
Insurance in Sweden 211 Security for the individual growth for the economy We are all exposed to risk. It might be the risk of being in a traffic accident or of a fire in your home. It could be theft
The global economy Banco de Portugal Lisbon, 24 September 2013 Mr. Pier Carlo Padoan OECD Deputy Secretary-General and Chief Economist
The global economy Banco de Portugal Lisbon, 24 September 213 Mr. Pier Carlo Padoan OECD Deputy Secretary-General and Chief Economist Summary of presentation Global economy slowly exiting recession but
Annual documents for Intrum Justitia AB (publ) for fiscal year 2008 Corporate identity number 556607-7581
1 Stockholm, April 6, 2009 Annual documents for Intrum Justitia AB (publ) for fiscal year Corporate identity number 556607-7581 All information referred to in this document can be accessed electronically
Financial Analyst Ranking. Ranking of Financial Journalists
2013 FINANCIAL HEARINGS AND AFFÄRSVÄRLDEN Financial Analyst Ranking SVENSK IMAGE AND HALLVARSSON&HALVARSSON Ranking of Financial Journalists PRESSRELEASE FINANCIAL HEARINGS Institutions Ranking Swedish
Fixed Income External Holdings, as of 31 Dec 2014
Fixed Income External Holdings, as of 31 Dec 2014 Currency Type Name AUD Governments & Sovereigns COMMONWEALTH OF AUSTRALIA 709 035 2024-04-21 AUD Governments & Sovereigns COMMONWEALTH OF AUSTRALIA 670
Will it ever fly? Stockholm, May 12, 2011. Robert Bergqvist Chief Economist, SEB Group robert.bergqvist@seb.se Tel: +4670 445 1404
Will it ever fly? Stockholm, May 12, 2011 Robert Bergqvist Chief Economist, SEB Group robert.bergqvist@seb.se Tel: +4670 445 1404 1 2 2010 1997 1997 The future of the euro Three questions that need an
Green Bond Presentation. June, 2016
Green Bond Presentation June, 2016 Table of contents 3 Executive summary 4 Presenting SBAB 16 Sustainable business at SBAB 22 Funding & Liquidity 30 Green Bond 42 Appendix 2 Executive summary 100% owned
G5 Entertainment. G5 Entertainment. Quarter Update Q3 15. Amended strategy and boosted profitability
Quarter Update Q3 15 Last updated on the 18/11/2015 Share Price Market Capitalisation Target Price 41.00 SEK 360.8m SEK 49.05 SEK Amended strategy and boosted profitability reported their third quarter
The Debt Challenge in Europe. Alan Ahearne and Guntram Wolff October 2011
The Debt Challenge in Europe Alan Ahearne and Guntram Wolff October 2011 Outline The challenge: debt overhang and price adjustment. Large increase in private debt prior to the crisis. Balance-sheet adjustments
COMPARATIVE ANALYSIS AND THE PLACE OF ROMANIA ON INSURANCE GLOBAL MARKET
Annals of the University of Petroşani, Economics, 13(2), 2013, 203-212 203 COMPARATIVE ANALYSIS AND THE PLACE OF ROMANIA ON INSURANCE GLOBAL MARKET ANA PREDA, MIRELA MONEA * ABSTRACT: The paper is centered
This is Handelsbanken
Annual Report 2013 This is Handelsbanken Handelsbanken is a full-service bank for both private and corporate customers. The Bank has a nationwide branch network in Sweden, the UK, Denmark, Finland, Norway
Financial Analyst Ranking. Ranking of Financial Journalists
2015 FINANCIAL HEARINGS AND AFFÄRSVÄRLDEN Financial Analyst Ranking SVENSK IMAGE AND HALLVARSSON&HALVARSSON Ranking of Financial Journalists PRESSRELEASE FINANCIAL HEARINGS Institutions Ranking Swedish
Sovereign Contagion in Europe: Evidence from the CDS Market
Sovereign Contagion in Europe: Evidence from the CDS Market Paolo Manasse*, Luca Zavalloni** Bologna University*,Warwick University** Copenhagen Business School, Copenhagen, September 23, 2013 Plan of
As the World Shrinks, Equity Opportunities Grow
Third Quarter 2014 WHITEPAPER As the World Shrinks, Equity Opportunities Grow Reasons Investors Should Consider International Equities: A Growing Opportunity Set Attractive Valuations Diversification Benefits
Recipharm creates a global CDMO leader through SEK 1.7 billion strategic acquisitions in the US, Sweden and India
Press release 18 th April 2016 Recipharm creates a global CDMO leader through SEK 1.7 billion strategic acquisitions in the US, Sweden and India Recipharm AB (publ) ( Recipharm or the Company ) announces
United States House of Representatives. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
United States House of Representatives Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Credit Default Swaps on Government Debt: Potential Implications of the Greek Debt
European perspective
Fiscal policy challenges from a European perspective Ludger Schuknecht Director General Economic and Fiscal Policy Strategy; International Economy and Finance Federal Ministry of Finance, Germany Banco
EXTERNAL DEBT AND LIABILITIES OF INDUSTRIAL COUNTRIES. Mark Rider. Research Discussion Paper 9405. November 1994. Economic Research Department
EXTERNAL DEBT AND LIABILITIES OF INDUSTRIAL COUNTRIES Mark Rider Research Discussion Paper 9405 November 1994 Economic Research Department Reserve Bank of Australia I would like to thank Sally Banguis
grow together with Oslo Børs Stockholm, 16 October 2012 Bente A Landsnes
Burgundy will continue to grow together with Oslo Børs 1 Stockholm, 16 October 2012 Bente A Landsnes Strategic rationale for Burgundy and Oslo Børs Create a long term competitive solution for Burgundy
The economic situation and monetary policy
The economic situation and monetary policy Statistics Sweden 6 October 14 Deputy Governor Per Jansson Topics I will discuss today Recent monetary policy (including the most recent decision on 3 September)
BANKS IN SWEDEN Crisis of the 1990's and the Situation 2003
BANKS IN SWEDEN Crisis of the 1990's and the Situation 2003 I am very grateful to Nikko Asset Management for giving me this opportunity to share with you how Sweden successfully dealt with its banking
Trends in the European Investment Fund Industry. in the Second Quarter of 2014. Results for the first half of 2014
Quarterly Statistical Release September 2014, N 58 This release and other statistical releases are available on efama s website (www.efama.org) Trends in the European Investment Fund Industry in the Second
WAISC WEST. Auspice Capital Advisors
WAISC WEST Auspice Capital Advisors Auspice is more than a traditional CTA We offer: Systematic Trend Following strategies. Innovation through Alpha, Enhanced Beta Indices and Beta Strategies. Diversified
Lars Lundquist assigned the recording of the minutes of the meeting to Maria Bäckman, JM's General Counsel.
TRANSLATION OF THE ORIGINAL SWEDISH Minutes of the Annual General Meeting of JM AB in Solna Thursday 25 April 2013 1. Call to order and election of chairperson The meeting was opened by Chair of the Board
Year-end report 2013. February 12, 2014. Per Strömberg, CEO Merlin Poljak, Acting CFO
Year-end report 213 February 12, 214 Per Strömberg, CEO Merlin Poljak, Acting CFO Strategic priorities have effect Continued positive development in Q4 Net sales up 1.5%* EBIT excluding non-recurring items
Interim Report. Interim Report. 1 January 30 June 2005
Interim Report SVENSKA CELLULOSA AKTIEBOLAGET SCA (publ) Communications and Investor Relations Box 7827, 103 97 Stockholm, Sweden Tel +46 8 788 51 00, Fax +46 8 660 74 30 www.sca.com Reg.No. 556012-6293
VAKIFBANK GLOBAL ECONOMY WEEKLY
VAKIFBANK GLOBAL ECONOMY WEEKLY Is Italy Going To Be The New Weak Link After Greece? T. Vakıflar Bankası T.A.O 25 July 2011 No: 27 1 Vakıfbank Economic Research Introduction... Debt crisis which has threatened
DEBT MANAGEMENT OFFICE NIGERIA
DEBT MANAGEMENT OFFICE NIGERIA MANAGING NIGERIA S DEBT STOCK Presentation at the Investor/Issuer Education Outreach Programme Organised by Securities and Exchange Commission on July 27, 2011 By Patience
What if BAU would come true?
What if BAU would come true? Scanning transport CO 2 emissions in the EU Petri Tapio & Jyrki Luukkanen Finland Futures Research Centre The approach Introduction of general trends on EU15 level GDP Transport
10TH EDITION MERGER CONTROL VADEMECUM FILING THRESHOLDS AND CLEARANCE CONDITIONS IN THE 29 EUROPEAN JURISDICTIONS
10TH EDITION MERGER CONTROL VADEMECUM FILING THRESHOLDS AND CLEARANCE CONDITIONS IN THE 29 EUROPEAN JURISDICTIONS 2 www.morganlewis.de This vademecum is as of February 2016 and provides initial guidance
Questions and answers
Questions and answers DATE: 25 November 2011 DEPARTMENT: Financial stability department SVERIGES RIKSBANK SE-103 37 Stockholm (Brunkebergstorg 11) Tel +46 8 787 00 00 Fax +46 8 21 05 31 registratorn@riksbank.se
Economic Outlook of Finland
Economic Outlook of Finland Pentti Hakkarainen Deputy Governor 9 June 2011 1 2 Heading for stable monetary conditions 1865 1999 MARKKA joins silver standard EURO taken into use 3 Two roles of the Bank
Recent U.S. Economic Growth In Charts MAY 2012
Recent U.S. Economic Growth In Charts MAY 212 GROWTH SINCE 29 The Growth Story Since 29 Despite the worst financial crisis since the Great Depression and a series of shocks in its aftermath, the economy
Trends in the European Investment Fund Industry. in the First Quarter of 2016
Quarterly Statistical Release May 2016, N 65 This release and other statistical releases are available on Efama s website (www.efama.org) Trends in the European Investment Fund Industry in the First Quarter
No boom, (probably) no bust
No boom, (probably) no bust Global Economic & Market Outlook Riga May 10, 2016 Harald Magnus Andreassen +47 23 23 82 60 hma@swedbank.no The global economy: Growth is normal 3 OK, growth in rich countries
Interim report. January 1 September 30, 2012
Interim report January 1 September 30, 2012 Net asset value on September 30, 2012, was SEK 121 per share, an increase of 21% since the start of the year including reinvested dividends. The value of the
52 ARTICLE The relationship between the repo rate and interest rates for households and companies
ARTICLE The relationship between the repo rate and interest rates for households and companies Figure A. Rates for new mortgage agreements for households and the repo rate 8 9 Average mortgage rate Short
Agasti Holding ASA Interim report 1st quarter 2015. 5 May 2015
Agasti Holding ASA Interim report 1st quarter 2015 5 May 2015 First quarter highlights Solid profitability after restructuring and strategic changes EBIT of NOK 20 million and EBITDA of NOK 23 million
Commercial Property Newsletter
Commercial Property Newsletter July 2010 Inside: Irish Commercial Property Commentary - Irish Life Property Fund Information UK Commercial Property Commentary - Irish Life UK Property Fund Information
Intellektuelles Kapital als Unternehmens- und Standortfaktor
EFFAS - The European Federation of Financial Analysts Societies ÖVFA - Österreichische Vereinigung für Finanzanalyse und Asset Management Intellektuelles Kapital als Unternehmens- und Standortfaktor Die
n Economic Commentaries
n Economic Commentaries In recent years, the analysis of household indebtedness has been based on aggregate data or random samples of new borrowers. It is not possible to analyse the allocation of debt
Income statement, 5-year summary Q1, 2013
00B 0B, 5-year summary Financial information, Group, Group FY FY FY FY FY SEKm 2012 2) 2011 2010 1) 2009 2008 Net interest income 1) 20 361 19 014 16 228 20 765 21 702 Net commission income 1) 9 614 9
Axioma Risk Monitor Global Developed Markets 29 June 2016
Axioma Risk Monitor Global Developed Markets 29 June 2016 1. Global volatility hotspots 2. Global correlation hotspots www.axioma.com Greater than 1% rise over last week Greater than 1% fall over last
4 Further details of the responses received are presented below.
REPORT ON BOND EXCHANGES AND DEBT BUY-BACKS A SURVEY OF PRACTICE BY EC DEBT MANAGERS In June 2001 a questionnaire covering the practices followed by debt managers implementing bond exchange or buy-back
Volkswagen Financial Services AG
Volkswagen Financial Services AG Klaus-Dieter Schürmann Member of the Board of Management Morgan Stanley 7 th Annual European Automotive Conference 29 June 2004 2 Volkswagen Financial Services AG Introduction
TransBaltic. TransBaltic. Structure analysis of merchandise trade between Poland and Scandinavia. Maciej Stajniak
TransBaltic Structure analysis of merchandise trade between Poland and Scandinavia Maciej Stajniak TransBaltic SWEDEN TransBaltic WP5.3.Project implementation progress SC meeting, Kittilä, 6-7 May 2010
Quarterly Report January March 2011
Q1 Quarterly Report January March 2011 January March 2011 1 Operating income for the period of the Group was SEK 7,5 k. EBIT for the Group was SEK - 1 261,9 k. Earnings before tax for the Group was SEK
Price projection 2013
Price projection 2013 CONTENTS 1. PRICE PROJECTION 2013 3 2. ECONOMIC SITUATION 3 2.1. Finland 4 2.2. Sweden 5 2.3. Norway 5 2.4. Denmark 5 2.5. United Kingdom 5 2.6. The Netherlands 5 3. CURRENCY EXCHANGE
Skandinaviska Enskilda Banken AB (SEB A) - Financial and Strategic SWOT Analysis Review
Brochure More information from http://www.researchandmarkets.com/reports/2623291/ Skandinaviska Enskilda Banken AB (SEB A) - Financial and Strategic SWOT Analysis Review Description: Skandinaviska Enskilda
Morgonmötet 23 april 2013
Trading Strategy Morgonmötet 23 april 2013 Martin Enlund, +46 (0)8-46 346 33, maen12@handelsbanken.se Nyheter Kinesisk PMI sämre än väntat Dr. Koppar hade rätt (Reuters) Föll till 50.5 från 51.6 i mars
Opening of the Meeting (item 1 on the agenda) The Annual General Meeting of shareholders was declared open by Peter Nilsson.
Minutes kept at the Annual General Meeting of shareholders in Duni AB, 556636-7488, on Wednesday, 7 May 2008 in Malmö Present shareholders: Appendix 1 Others present: Appendix 2 1 Opening of the Meeting
72/2015-21 April 2015
72/2015-21 April 2015 Provision of deficit and debt data for 2014 - first notification Euro area and EU28 government deficit at 2.4% and 2.9% of GDP respectively Government debt at 91.9% and 86.8% In 2014,
Morgonmötet 11 mars 2015
Trading Strategy Morgonmötet 11 mars 2015 Claes Måhlén, +46 (0)8-46 345 35, clma02@handelsbanken.se Pierre Carlsson, +46 (0)8-46 346 17, pica01@handelsbanken.se Nyheter Kina: Svag industriproduktion, investeringar
Media-Saturn posts strong increase in earnings METRO GROUP generates better operating performance net debt at record low
10 February 2015 1/9 Media-Saturn posts strong increase in earnings METRO GROUP generates better operating performance net debt at record low EBIT before special items totals 1,024 million (Q1 2013/14:
GUIDELINES FOR CENTRAL GOVERNMENT DEBT MANAGEMENT 2016
GUIDELINES FOR CENTRAL GOVERNMENT DEBT MANAGEMENT 2016 Decision taken at the Cabinet meeting November 12 2015 2016 LONG-TERM PERSPECTIVES COST MINIMISATION FLEXIBILITY Guidelines for the management of
ACCESS TO FINANCE. of SMEs in the euro area, European Commission and European Central Bank (ECB), November 2013.
ACCESS TO FINANCE Improving access to finance is essential to restoring growth and enhancing competitiveness. Investment and innovation are not possible without adequate financing. Difficulties in accessing
General Government debt: a quick way to improve comparability
General Government debt: a quick way to improve comparability DEMBIERMONT Christian* BIS Bank for International Settlements, Basel, Switzerland Christian.Dembiermont@bis.org In simple words the General
Pohjola Bank plc s Interim Report 1 January 31 March 2012
Pohjola Bank plc s Interim Report 1 January 31 March 2012 Contents Interim Report Q1/12 Pohjola Group 3 Banking 8 Non-life Insurance 13 Asset Management 21 Group Functions 24 Outlook 27 Background Material
Fact Book Annual Accounts 2011
Fact Book Annual Accounts STOCKHOLM 7 FEBRUARY 212 SEB Fact Book Annual Accounts N Table of contents Table of contents...2 About SEB...3 SEB history...3 Financial targets...3 Organisation...4 Corporate
FTSE Global Bond Index Series
FTSE Global Bond Index Series FTSE GLOBAL BOND INDEX SERIES The FTSE Global Bond Index Series is a series of fixed income indices covering the principal government bond markets and selected corporate markets.
Long-term asset manager and active owner of Nordic listed companies
Long-term asset manager and active owner of Nordic listed companies Full Year 2015 February 5, 2016 Year-End presentation 12M 2015 1 Summary 12 months, 2015 The total return for the year was 15% for the
Social insurance, private insurance and social protection. The example of health care systems in some OECD countries
Social insurance, private insurance and social protection. The example of health care systems in some OECD countries References OECD publications on Health care Swiss Re publications Sigma No 6/2007 on
Financial market integration and economic growth: Quantifying the effects, Brussels 19/02/2003
Financial market integration and economic growth: Quantifying the effects, Brussels 19/02/2003 Presentation of «Quantification of the Macro-Economic Impact of Integration of EU Financial Markets» by London
The World's Ten Most Commonly Overlooked Mortgage Tester Report by FI
7 March 213 7 March 213 Ref. 13-2825 Contents Summary 3 Background 4 Description of the survey 4 Borrower analysis 7 Loan-to-value ratios 7 Amortisation schedules and unamortised loans 9 Debt ratio and
Orc Software AB Interim report January 1 March 31, 2005
Orc Software AB Interim report January 1 March 31, 2005 Revenue for January-March 2005 increased by 2 percent compared to the equivalent period in the previous year and amounted to SEK 66 (65) million.
Interim report January June 2015
Interim report January June Second quarter Gross cash collections SEK 834m EBIT margin 30% Acquisition of loan portfolios SEK 665m CET1 ratio 12.58% April June, year-on-year Gross cash collections increased
Q2 report 2015 Press- and analyst presentation
Q2 report 2015 Press- and analyst presentation 19 August 2015 Per Strömberg, CEO Sven Lindskog, CFO Q2 Highlights: Solid second quarter 2015 Stable financial development Improved net sales +15% +4.3% excl
H & M Hennes & Mauritz AB
Full-year report (1 Dec - 30 Nov ) H & M Hennes & Mauritz AB Full-year report Full-year (1 December 30 November ) Well-received collections for all brands in the H&M Group resulted in good sales and increased
Acta Holding ASA. Agenda. 3rd quarter presentation 2009. CEO Geir Inge Solberg CFO Christian Tunge. 28th October 2009
Acta Holding ASA rd quarter presentation 9 CEO Geir Inge Solberg CFO Christian Tunge 8th October 9 Agenda Highlights third quarter 9 Lower costs Revenues advisors Acta Invest Interim financial statements
Insurance in Sweden 2010
Insurance in Sweden 21 Security for the individual growth for the economy We are all exposed to risk. It might be the risk of being in a traffic accident or of a fire in your home. It could be theft or
ECONOMIC OUTLOOK. Skøyen 15 September 2015 Rolf Albriktsen Kristoffer Eide Hoen
ECONOMIC OUTLOOK Skøyen 15 September 2015 Rolf Albriktsen Kristoffer Eide Hoen Norway: Slower growth ahead Moderate forecasts for building construction, high activity in civil engineering Increasing regional
Min. Guido Mantega. November 2009
New Cycle of Brazilian Economic Growth Financial i Times Min. Guido Mantega November 2009 Reasons to begin a new growth cycle Brazil faced the crisis with a strong economy; Emerged from it stronger than
Composition of net asset value SEK billion SEK per share 2003 2003 2002 2003 2003 2002 Parent company Aug. 4 June 30 Dec. 31 Aug. 4 June 30 Dec.
Interim Report January 1 - June 30, 2003 Industrivärden s net asset value was SEK 27,682 M on August 4, an increase of SEK 3,267 M since year-end 2002. On June 30 the net asset value was SEK 25,642 M (29,645).
Insurance in Sweden 2012
Insurance in Sweden 212 Security for the individual growth for the economy We are all exposed to risk. It might be the risk of being in a traffic accident or of a fire in your home. It could be theft or
THE DELOITTE CFO SURVEY 2015 Q2 RESULTS PATH TO GROWTH
THE DELOITTE CFO SURVEY 2015 Q2 RESULTS PATH TO GROWTH 2 Contents Key points from the 2015 Q2 Survey 4 Economic context 5 The economy and CFOs outlook 6 Funding 7 Cash flow and risk 8 M&A 9 A note on methodology
Carl-Olof By presented the Nomination Committee s motion that Attorney Sven Unger be appointed Chairman of the Annual Shareholders Meeting.
Minutes of the Annual Shareholders Meeting in Skanska AB (publ), held at Berwaldhallen, Dag Hammarskjölds väg 3, Stockholm, at 4:30 p.m. on April 11, 2013. 1 The Chairman of the Board, Stuart Graham, greeted
Master s Thesis in Finance Stockholm School of Economics. Capital Insurances. Jonatan Falk 19473
Master s Thesis in Finance Stockholm School of Economics Capital Insurances Jonatan Falk 19473 Abstract Most people strive to get as high return as possible on their investments and individuals wants to
Energies andnergies in Sweden - A Strategic Perspective
Capital market day Stockholm, Sweden November 30, 2001 FöreningsSparbanken Birgitta Johansson-Hedberg President and CEO Stability and growth opportunities in a turbulent environment 3 Our strategic approach
How To Rate A Stock On The Index Of The Kronos Index
Long-term industrial developer of listed Nordic companies Year-End 2009 Industrivärden, February 11, 2010 AN_Pres_KV409 Nr 1 Company in brief Established: 1944 Stock: Market cap: Free float: Rating: Listed
Capio intends to be listed on the Nasdaq Stockholm Stock Exchange
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR PUBLICATION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SINGAPORE
H & M Hennes & Mauritz AB
Six-month report (1 Dec 31 May ) H & M Hennes & Mauritz AB Six-month report First half-year (1 December 31 May ) The H&M group s sales including VAT increased by 7 percent in local currencies during the
The Castellum Share. of the company s own shares
The Castellum Share Dividend The Board proposes a dividend of SEK 6.5 per share for the financial year 21, corresponding to a yield of 6.% on the share price at the end of the year. The proposed dividend
Virtual Bank service. for Corporate customers only. Your LloydsLink online application for. Guidance notes. Customer details. Primary contact person
Your LloydsLink online application for Virtual Bank service for Corporate customers only Guidance notes Our new Virtual Bank service can help you streamline your receivables management by giving you fast
The Eurozone and Greece: A Client Update
DIMENSIONAL FUND ADVISORS Special Posting The Eurozone and Greece: A Client Update June 2012 Events in the Eurozone, particularly Greece s future participation in the currency union, have been the overwhelming