Abg Sundal Collier Asa (ABGSF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning all and a warm welcome to ABG Sundahl Collier's Q2 result presentation. Before we kick off the presentation, I would like to mention that we will as usually have a Q&A session after the presentation and Should you want to raise a question, please use the Q&A function in Teams and we will answer all questions in turn. I'd also like to mention that we are joined by our CFO, Geir Olsson. Before we look more into the numbers, I'd like to start with some general comments about the quarter and our our performance. In the previous quarter, we talked about muted activity in equity capital markets, but also about signs that we noticed improved risk appetite towards the end of the quarter, which combined with more activity in the European IPO market made us slightly more optimistic about a gradual improvement in the equity capital markets. And we can now conclude that while the local IPO window is so far only a jar, we have advised on two out of three main market IPOs in the Nordics, and we continue to see interest among corporates and investors to execute transactions picking up. But the improvement in ECM activity is nothing compared to the very vibrant DCM markets where we're taking our fair share. And while the overall Nordic M&A market has been more muted, we have continued to deliver strong growth in our M&A franchise. And this, combined with continued solid performance from our brokerage and research operations makes Q2 a perfect example of the importance of having top positions in all product areas, ECM, DCM, M&A, and brokerage research, which we obviously have and is something that distinguishes ABG from our peers. We can adapt as we go in relation to ongoing products and transactions, to cater for changing market conditions. In a way, that would be...