Carnegie: Year-End Report 2005.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. -- Net profit 2005 SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 667 million (SEK 401 million) --Carnegie's net profit for 2005 increased by 66% to SEK 667 million (SEK 401 million). Net profit for the fourth quarter increased by 69% Y/Y to SEK 267 million (SEK 158 million). Earnings per share for the full year were SEK 9.98 (SEK 6.01) and SEK 9.68 (SEK 5.94) after full dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. . --The Board of Directors proposes a dividend of SEK 634 million, or SEK 9.19 (SEK 5.93) per share outstanding at the record date, corresponding to a Tier 1 ratio including the new share issue of SEK 94 million in January January: see month. 2006, of 15%. The proposed dividend corresponds to a pay-out ratio of 95% (100%). --Total income in 2005 was up 32% Y/Y to SEK 3,514 million (SEK 2,672 million). Total income in the fourth quarter was up 51% Y/Y to SEK 1,213 million. In 2005 Securities' income increased by 25% to SEK 1,503 million, mainly reflecting the turnover increase of 28% in the Nordic stock markets. Investment Banking had a strong second half year and income for the full year increased by 44% Y/Y to SEK 733 million. Asset Management income increased by 61% to SEK 791 million, whereof where·of conj. 1. Of what: I know whereof I speak. 2. a. Of which: ancient pottery whereof many examples are lost. b. Of whom. performance fees accounted for SEK 268 million (SEK 34 million). Private Banking income increased by 4% Y/Y to SEK 486 million. On a like-for like-basis, reflecting structural changes, Private Banking income increased by 18%. --Total expenses before profit-share for the full year were SEK 1,674 million (SEK 1,586 million), of which SEK 517 million (SEK 427 million) in the fourth quarter. Total expenses ended 5% above management's estimated cost range for 2005, due to a provision of SEK 64 million, corresponding to Carnegie's total commitment to the software development company Capital C, which was communicated in a press release during the last quarter. Based on current market conditions, management's estimated cost range for 2006 is SEK 1,700-1,800 million. Carnegie is an independent Nordic investment bank The Nordic Investment Bank (NIB) is an investment bank and multilateral development bank owned by eight nordic and northern european countries. The owners are Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. operating in Securities, Investment Banking, Asset Management and Private Banking. Carnegie provides a wide array of financial products and services to Nordic and international clients from offices in eight countries: Sweden, Denmark, Norway, Finland, Luxembourg, Switzerland, the UK and the US. This information was brought to you by Waymaker http://www.waymaker.net |
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