Resurs (RESURS) investor relations material

Executive summary

• Operating income rose 4% year-over-year to SEK 934 million for Q2 and SEK 1,851 million for H1 2025, driven by improved net interest income and price adjustments.

• Lending to the public decreased 2% year-over-year to SEK 38,999 million, with Payment Solutions up 8% and Consumer Loans down 8%.

• Operating profit for Q2 increased to SEK 184 million (up 68% year-over-year, excluding comparability items), while H1 operating profit was SEK -15 million, but SEK 312 million adjusted.

• Credit loss ratio improved to 2.9% in Q2 (from 4.0%) and 3.2% for H1 (from 4.3%), reflecting better customer payment patterns and seasonality.

• Total capital ratio strengthened to 17.9% (from 16.0%), and CET1 ratio to 15.5% (from 13.6%).

Financial highlights

• Net interest income for H1 2025 increased 7% year-over-year to SEK 1,556 million.

• Earnings per share for Q2 rose to SEK 0.64 (from 0.11), and for H1 were SEK -0.03 (from 0.16), but SEK 1.05 adjusted (from 0.52).

• Return on equity (ROE) for Q2 was 7.5% (from 2.0%), and for H1 was 0.7% (from 1.4%), or 6.3% adjusted.

• Cost/income ratio before credit losses was 49.9% in Q2 (49.4% prior year), and 67.2% for H1 (47.8% prior year), or 49.6% adjusted.

Outlook and guidance

• Management remains focused on transformation, cost efficiency, and targeted investments to strengthen long-term competitiveness.

• Cautious consumer sentiment and weaker sales in some industries are expected to continue impacting growth.

• Ongoing marketing campaigns in Consumer Loans to be expanded across the Nordics in H2 2025.