Enity (ENITY) investor relations material

Executive summary

• Achieved record full-year results in 2025, meeting all financial targets and celebrating 20th anniversary as a leading pure-play mortgage bank, despite challenging macroeconomic and geopolitical conditions.

• Successfully completed IPO, listing on Nasdaq Stockholm in June 2025 and transitioning from private equity ownership to public listing.

• Named 'Bank Stock of the Year' by Privata Affärer.

• Completed acquisition of Eiendomsfinans AS and prepared for full consolidation of Uno Finans AS in 2026.

• Board proposes a SEK 1.4 per share dividend, corresponding to a 20% payout.

Financial highlights

• Loan book grew 10% year-over-year, meeting the 8%-10% target, with lending to the public at SEK 30,611m.

• Net interest income rose 9.3% to SEK 1,218m, with a stable net interest margin of 4.1%.

• Adjusted operating profit increased 17% to SEK 593m; net profit up 38% to SEK 352m, aided by favorable tax effects.

• Cost-to-income ratio improved to 46%-48.2%, with a medium-term target of 40%-42%.

• CET1 ratio at 14.1%, 215 bps above regulatory requirement.

Outlook and guidance

• Expect continued loan book growth of 8%-10% and gradual decline in net interest margin, with improved macroeconomic conditions in Sweden and Finland supporting credit quality and growth in 2026.

• Medium-term targets: 8-10% annual lending growth, ~20% ROTE, CET1 ratio 200-300 bps above regulatory minimum, and 20-40% dividend payout.

• Marketing spend to increase in 2026 to capitalize on improving market conditions.

• Cost base expected to grow by 4% due to inflation, with additional SEK 50 million from Eiendomsfinans and SEK 20 million in marketing.

• Credit losses anticipated to trend below 20 bps, with normalization over the next years.