Abg Sundal Collier Asa (ABGSF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, good morning all, and a warm welcome to ABG Sundahl Collier's Q4 result presentation. Before we kick off the presentation, I would like to mention that we will, as usual, 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 your questions in turn. We ended the year. and we are entering 2026 from a position of strength. We have continued to build momentum during the year and we have proven our ability to deliver with market conditions in 2025 sometimes being helpful and sometimes being anything but helpful. We have continued to focus on what we can influence namely how we advise our clients, how we execute on our advice and our own growth strategy, and how we resolve situations that arise either because of market conditions or client-specific circumstances. And we have continued to focus on ensuring our own profitability, also short-term, enabling us to make long-term investments to take investment costs that will drive long-term profitability. Business-wise, we are happy to observe continued strength within our debt capital markets operations and not least within our M&A operations with record high revenues for us in 2025. Conditions in equity capital markets have gradually improved during the year and IPO activity picked up somewhat in 2025, especially in Sweden. Even though IPOs tend to be the product that is the most sensitive in our product portfolio to general volatility, either economically or politically induced, we observed that our backlog when it comes to IPOs is in a better shape entering 2026 versus 2025. We continue to improve our firm to become the Nordic Investment Bank of Choice, the Investment Bank of Choice for clients, talents and investors. We continu...