Press Releases

Carnegie Holding AB: Interim Report January – March 2012

Financial data for the Group

· Operating income amounted to SEK 449m (497).
· Operating expenses totalled SEK 435m (451).
· Profit before items affecting comparability amounted to SEK 14m (45).
· Items affecting comparability had a negative impact of SEK 24m (11) on profit. Before credit reserves, a loss of SEK 10m (profit: 34) was reported.
· The Group has a strong financial position, with equity totalling SEK 2.1bn and a Core Tier 1 ratio of 13.6% at the close of the reporting period.

Company events during the quarter

· Inflow of slightly more the SEK 1bn to fund activities.
· Several activities to reduce our cost base were completed during the quarter.

PRESIDENT’S COMMENTS

Positive signs in a cautious market

Business trends in early 2012 have been positive in relation to the fourth quarter of 2011. Equity markets in the Nordic region have risen, the inflow to Carnegie’s funds has increased and Carnegie has served as advisor in several company transactions, primarily in Denmark and Norway. In spite of this, however, there is still fundamental uncertainty over economic growth in Europe, which has impacted the financial markets.

Profit before items affecting comparability during the first quarter amounted to SEK 14m, which is an improvement compared with the fourth quarter but lower than the first quarter of 2011. The outlook for the year is cautiously positive: the pipeline for advisory services is good and we project a continued inflow to Carnegie’s private banking operations and funds.

The strategic direction for Carnegie remains unchanged - to create three focused business areas positioned for growth and higher efficiency. Carnegie’s brand stands strong and I am convinced that the changes we are now making will provide a solid platform for creating value in the future.

Frans Lindelöw

President and CEO


For further information, please contact:

Andreas Koch, Head of Communications, phone: 46 73 417 86 39, e-mail: andreas.koch@carnegie.se

Carnegie is a leading independent investment bank with Nordic focus. Carnegie provides value-added services in securities brokering, investment banking, private banking and asset management to institutions, corporations and private clients. Carnegie has approximately 800 employees in eight countries.

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