Podcasts about nordea on your mind

Nordic corporates have bet big and succeeded in sustainability – Can they keep it up? The Nordic countries are punching above their weight in sustainability, and so are Nordic corporates. In this Nordea On Your Mind podcast, Johan Trocmé, Viktor Sonebäck and Jonas Ankjaer discuss just how good companies are in this area, how it has evolved over time, and why there has been such a strong and successful focus. And looking ahead, could regulatory fatigue and the US culture war drive a lasting ESG backlash, or are companies in it for the long haul? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Spending your capital right can boost the value of your business. Companies can invest or pay out capital to shareholders. They can invest in capex, R&D or acquisitions. They can pay dividends or make share buybacks. In this Nordea On Your Mind podcast, Johan Trocmé, Viktor Sonebäck and Jonas Ankjaer talk about how companies globally have used their capital since 2000, and how these choices affect total shareholder returns. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

It is 25 years since the euro was first introduced. Finland has used it from the start, and Denmark has pegged its krone to it. But Norway and Sweden have had floating currencies since the early 1990s. In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck review how the different Nordic economies have been affected by currency. Are they happy with the outcome? What currency will they use in the future, and why? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

The release of Open AI's ChatGPT in November 2022 has driven a tsunami of interest in generative AI. In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck explain the ‘big new thing', Large Language Models, what they can and cannot do, and how generative AI could affect the Scandinavian labour market in the years ahead. And yes, they do touch upon the nightmare scenario, with an AI evolving into a potentially hostile superintelligence that does not wish humans well. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Does not saying anything about future performance of your business protect you from being held accountable? Or could the use of financial targets even improve the value of your business? In this Nordea On Your Mind podcast Johan Trocmé, Viktor Sonebäck and Jim Jokinen review what targets Nordic large listed companies have used from 2007-2022, how they have been changed, if they have been reached, and if they have affected value creation. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Picking up from an earlier Nordea On Your Mind report in 2019, Johan Trocmé and Viktor Sonebäck talk in this podcast about the inflation and interest rate shock in 2022 starting to reverse the decade-long trend of bonds replacing bank funding for Nordic large corporates. Is leverage a problem in the Nordic region? For all types of borrowers? How much could higher funding costs eat into corporate cash flows? Can bond maturities in the coming years be refinanced? Their advice from 2019 is even more valid today. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Central banks had struggled for a decade with extreme measures as shock therapy to push inflation even close to typically targeted 2% levels, with very limited success. But Russia's invasion of Ukraine in early 2022 triggered supply shocks for energy and food, which has caused a sharp and sudden inflation spike. In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck remind us what inflation actually is, how it works, what drives it, and why it is bad for the economy. Should you be convinced that the inflation surge is temporary? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

When did we last experience a normal year? In this podcast, Johan Trocmé and Viktor Sonebäck review the Nordea On Your Mind topics covered this year and warn that 2023 may not be peaceful and quiet either. But we should not despair; it often takes a crisis to bring positive structural change. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Are you praying for greater wind speeds? Loading up with blankets ahead of the winter? Sky high electricity prices has made the European energy crisis something real and highly relevant for us all. In this Nordea On Your Mind podcast, Johan Trocme and Viktor Sonebäck talk you through what has caused the crisis, how the Nordic countries have been swept into Europe's challenges, and how the crisis is making Europe massively step up its efforts as well as ambitions for a transition from fossil fuels to renewable energy. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Retail sales have been migrating online from stores for years. The pandemic gave a big boost to this migration, which has now eased off. In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck talk about what will come next, how the online share of retail sales could resume its structural growth trend, with demographics as a key driver. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

The Basel IV global framework for bank regulation aims to harmonise how banks calculate their risk-weighted assets, but will lead to higher reserve capital requirements, particularly for lending to corporates. In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck talk about how this will affect corporate borrowers, and how they can prepare.

Global green energy transition was already urgent, and then came war in Ukraine, making it necessary for Europe to end its dependence on Russian energy imports. Massive investments will be needed, and in this Nordea On Your Mind podcast Johan Trocmé and Viktor Sonebäck talk about project finance – a potentially crucial tool to help fund the green transition. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Large companies have since 2016 invested far less than they used to do historically. In this podcast, Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk about how the world's nations have committed under the Paris agreement to investing in limiting global warming to save the planet, and how companies will need to invest massively both in becoming more sustainable and to pursue business opportunities from the global sustainable energy transition. ESG could become the catalyst that ends under-investment. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

In a Christmas edition podcast, Johan Trocmé and Viktor Sonebäck look back at an eventful year, and re-visit the Nordea On Your Mind themes of the year. What do they have in common, and will 2022 see more COVID-related themes? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Does ownership matter for corporate value creation? Having a major owner or not? What kind of owner, with what agenda? In this podcast, Johan Trocmé, Viktor Sonebäck and Thea Koren talk about who owns Europe's listed companies, and the striking differences in performance for different types of owners explored in the NOYM report ‘The ideal owners'. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

Social distancing during the pandemic has sharply reduced our mobility and led to new ways of working and consuming. Will we keep working more remotely going forward? Will we need offices? If so, what will they look like? Find out in this Nordea On Your Min podcast with Johan Trocmé, Viktor Sonebäck and Thea Koren.

Cryptocurrencies have seen their prices soar in the past 18 months and now have a total market cap above USD 2tn. Johan Trocmé and Viktor Sonebäck explore what cryptos are, what they are used for, what has driven the bonanza and whether there is a use case for them as a means of payment. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

How do you determine if a company is good at sustainability? ESG ratings vary greatly among providers, who are all measuring different things with different approaches. In this Nordea On Your Mind podcast, Viktor Sonebäck and Johan Trocmé talk to Nordea's Anaïs Gilbert about how corporates should navigate this immature and rapidly evolving field. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

*This podcast episode is in English* In this Nordea On Your Mind podcast, Johan Trocmé, Viktor Sonebäck and Kajsa Andersson discuss what has driven the hype for sustainability, why it is here to stay, and how their analysis clearly shows that it pays off through superior financial performance. They also make sense of ESG ratings, which are the natural tool for measuring a company's sustainability, but a rapidly evolving area with many providers with different approaches. See connected article from Nordea On Your Mind here: https://insights.nordea.com/en/sustainability/esg-reaping-the-rewards/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

In this Nordea On Your Mind podcast, Johan Trocmé, Viktor Sonebäck and Kajsa Andersson discuss what has driven the hype for sustainability, why it is here to stay, and how their analysis clearly shows that it pays off through superior financial performance. They also make sense of ESG ratings, which are the natural tool for measuring a company's sustainability, but a rapidly evolving area with many providers with different approaches. See connected article from Nordea On Your Mind here: https://insights.nordea.com/en/sustainability/esg-reaping-the-rewards/ Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor's particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one's financial advisor.

In this Nordea On Your Mind podcast, Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk to Henrik Immelborn who runs Debt Solutions and Loans in Denmark at Nordea Investment Banking. They discuss how Nordic large corporates fund themselves today versus 20 years ago, how they coped with the shock from the COVID-19 pandemic in 2020, and how market imperfections create a need for advice on funding and rating strategies. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Does capital structure matter for a company’s value? In this podcast, Johan Trocmé, Viktor Sonebäck and Johanna Rådemar from Nordea Thematics have fun trying to disprove nobel prize-winning economic theory. Their analysis in the Nordea On Your Mind report titled ‘The hunt for the right leverage’ suggests leverage has a big influence on both valuation and long-term share price performance.

-- This episode is in English -- Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk with Adam Schatz, CEO of DIY and Home Furnishing e-tailer BHG Group, about the explosion in online shopping triggered by the COVID-19 pandemic. Will changes in consumer behaviour be permanent, and how do online and bricks-and-mortar retailers need to respond? What will be needed to succeed? You find more episodes from Nordea On Your Mind on the podcast, Nordea Markets Insights Global. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

-- This episode is in English -- Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk with Adam Schatz, CEO of DIY and Home Furnishing e-tailer BHG Group, about the explosion in online shopping triggered by the COVID-19 pandemic. Will changes in consumer behaviour be permanent, and how do online and bricks-and-mortar retailers need to respond? What will be needed to succeed? You find more episodes from Nordea On Your Mind on the podcast, Nordea Markets Insights Global. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

-- This episode is in English -- Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk with Adam Schatz, CEO of DIY and Home Furnishing e-tailer BHG Group, about the explosion in online shopping triggered by the COVID-19 pandemic. Will changes in consumer behaviour be permanent, and how do online and bricks-and-mortar retailers need to respond? What will be needed to succeed? You find more episodes from Nordea On Your Mind on the podcast, Nordea Markets Insights Global. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Johan Trocmé and Viktor Sonebäck from Nordea Thematics talk with Adam Schatz, CEO of DIY and Home Furnishing e-tailer BHG Group, about the explosion in online shopping triggered by the COVID-19 pandemic. Will changes in consumer behaviour be permanent, and how do online and bricks-and-mortar retailers need to respond? What will be needed to succeed? Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

2020 has been a turbulent year, fundamentally defined by the COVID-19 pandemic. Viktor Sonebäck and Johan Trocmé reflect back on the Nordea On Your Mind topics covered during the year, evolving from navigating the initial shock to the economy, to the sometimes drastic changes in consumer behaviour brought by the pandemic, and how these could turn out to be permanent. The new normal will be different from the old normal.

Industry 4.0 may sound like a software update, but it is a German-invented name for the next big industrial revolution, after steam power, electric power and programmable logic. It is also the topic for Nordea's latest report of Nordea On Your Mind. In this podcast, Johan Trocmé and Viktor Sonebäck talk about findings from their report, like how productivity growth has collapsed in the G7 economies in the past 10 years, and a new industrial paradigm will be needed to drive growth going forward. Internet connectivity is the big game changer, and we believe much of the new efficiency upside will come from business model innovation. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Capital markets have rebounded from the COVID-19 shock, and consensus forecasts expect 2021 to be even better than the pre-pandemic 2019. Are corporates equipped to face a more challenging 2021 and 2022 if consensus forecasts are too optimistic, and is there a need for a contingency plan? It could take time to get back to normal, and the new normal could be different from the old one. Corporates should have a plan B to ensure they can cope with the journey there. In the latest episode of Nordea On Your Mind Johan Trocmé, director at Nordea Thematics, and Viktor Sonebäck, associate at Nordea Thematics, share the light upon this and much more. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

The oil industry has suffered three big shocks only in the past twelve years. It has been turned completely upside down in 2020, with a price war in March quickly abandoned as the COVID-19 pandemic caused an unprecedented demand collapse. Johan Trocmé, Viktor Sonebäck and Shirin Haddad talk about their latest Nordea On Your Mind report ‘Oil: black gold or black hole’, where they explore how the industry should deal with likely persistent oil price volatility, peak oil demand within six years as renewable energy keeps growing, and the need to have a sustainable business, also in oil. All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

How do corporate borrowers benefit from having a credit rating? When is it worth the effort and expense? Viktor Sonebäck and Johan Trocmé talk about findings from their new Nordea On Your Mind report ‘The case for a credit rating’, describing what credit ratings are and what they are not, and how we can quantify when they actually pay for themselves, in addition to giving borrowers access to more and longer-dated funding.

How do corporate borrowers benefit from having a credit rating? When is it worth the effort and expense? Viktor Sonebäck and Johan Trocmé talk about findings from their new Nordea On Your Mind report ‘The case for a credit rating’, describing what credit ratings are and what they are not, and how we can quantify when they actually pay for themselves, in addition to giving borrowers access to more and longer-dated funding.

In our previous NOYM report ‘Coronavirus and supply chains’ from 5 March, we highlighted risks to the economy in the event of further spread and resulting containment efforts. This is now reality. We revisit the topic and look more closely at how Nordic corporates will be affected, with a massive profit and cash flow slump in Q2, how they should secure liquidity, funding and equity to get through the crisis, and how they will need to rethink they global supply chains and footprints.

Why are Nordic large corporates investing so much less than they have done historically, in relation to the macro outlook and their sales? Will they eventually have to start investing again to catch up, or has something in the economy changed, so they don’t need to invest as much anymore? What do they do with their money instead of investing. And – should they invest, or would their share prices suffer if they do? Find out in this podcast with Johan Trocmé and Viktor Sonebäck on the Nordea On Your Mind report “Capex III: Less is more?”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Should companies pay out funds to shareholders, or invest all cash generated in the business? And can companies actually get rewarded with a greater value for the business from making big payouts? Find out in this podcast about the Nordea On Your Mind report “How to pay it out”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Is it tempting not to promise anything, not having to worry about being held accountable for any disappointments from your company? Think again. Investors want public companies to have financial targets, and 85% of them already do. And more importantly, our analysis in the Nordea On Your Mind report “Financial targets” shows a strong share price outperformance for companies who use targets and deliver on them. In this podcast, John Grant talks to Johan Trocmé, Viktor Sonebäck and Ebba Ramel about how using targets matters for corporate value creation. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

ESG and sustainability used to be all about risks, what happened or would happen to companies who suffered serious environmental, social or governance incidents. We now see the investor and corporate focus starting to shift strongly from risk to opportunities, how being able to help society become more sustainable can translate into major business potential, and how investors are increasingly looking for exposure to this. In this podcast, I talk to Nordea Research ESG analysts Marco Kisic, Philip Wrangberg and Ebba Ramel about their Nordea On Your Mind report “The New Green”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Sorry, but you need to. They are a big generation, representing one-third of the Nordic population aged 24-74. You will not be able to ignore them if you sell goods or services to consumers, or if you are recruiting talent to your organisation. Find out what they want, what they need, and what makes them tick in this podcast on our Nordea On Your Mind report “Managing millennials”.

Sorry, but you need to. They are a big generation, representing one-third of the Nordic population aged 24-74. You will not be able to ignore them if you sell goods or services to consumers, or if you are recruiting talent to your organisation. Find out what the millennials want, what they need, and what makes them tick in this podcast on our Nordea On Your Mind report “Managing millennials”.

What matters most, reported profits from corporates, or how much of those profits are turned into cash flow? Our latest Nordea On Your Mind report “Cash trumps profits”, this time written by guest authors Hugo Fredriksson and Johan Hallgren from Nordea Research’s Quant team, takes a deep dive into this topic. Johan Trocmé from Nordea Research Thematics talks to them about why cash conversion matters hugely for corporate value creation, how corporates should invest to maximise their value, and about Nordic listed companies lagging US and European peers in working capital management, suggesting they could release EUR 48bn in cash if they became as good as their average peer. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Are you shopping on the internet? Thinking about it? You are not alone. The online share of retail sales in the Nordics has doubled since 2011, and is at 10% similar to that in the US and well above the average in Europe. Within 10 years it could be 30%. Nordea Research COO Anne Schult Ulriksen talks to Johan Trocmé, Viktor Sonebäck and Philip Wrangberg from the Thematics team about their Nordea On Your Mind report “E-commerce: The show must go on”, which explores the drivers and potential for further growth in online retail in the Nordics, and what this could mean for digital and bricks-and-mortar retailers going forward. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Mergers and acquisitions activity is on the rise again globally and the ripples are washing through the Nordics. M&A in the Nordics arena has averaged EUR 55bn per annum since 2005 and the 2007 peak of EUR 87bn is once again in sight. Johan Trocmé and Viktor Sonebäck explore the findings from their latest Nordea On Your Mind report “M&A: Buying high or low” with Nordea Markets Chief Editor Martin O’Rourke. The talk covers how the Nordic market for M&A has developed since 2005, who the players buying and selling companies are, how valuations and bid premia vary over time, and why Nordic M&A intensity is lower than in Europe despite a vibrant local private equity scene. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Seeing and hearing a lot about AI in the news? Wonder where all the hype is coming from? Have you ever worried about an AI becoming super-intelligent, taking over the world and having no use for humans? Or at least about AI replacing human jobs? Or are you a business leader, fearing that your company will become uncompetitive if it does not start using AI tools? In this podcast, Nordea Markets Chief Editor Martin O’Rourke talks to Johan Trocmé and Hemming Svensson from Thematics in Nordea Research, about these topics, which are covered in their Nordea On Your Mind report “AI: The dawn of the data age”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Seeing and hearing a lot about AI in the news? Wonder where all the hype is coming from? Have you ever worried about an AI becoming super-intelligent, taking over the world and having no use for humans? Or at least about AI replacing human jobs? Or are you a business leader, fearing that your company will become uncompetitive if it does not start using AI tools? In this podcast, Nordea Markets Chief Editor Martin O’Rourke talks to Johan Trocmé and Hemming Svensson from Thematics in Nordea Research, about these topics, which are covered in their Nordea On Your Mind report “AI: The dawn of the data age”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Seeing and hearing a lot about AI in the news? Wonder where all the hype is coming from? Have you ever worried about an AI becoming super-intelligent, taking over the world and having no use for humans? Or at least about AI replacing human jobs? Or are you a business leader, fearing that your company will become uncompetitive if it does not start using AI tools? In this podcast, Nordea Markets Chief Editor Martin O’Rourke talks to Johan Trocmé and Hemming Svensson from Thematics in Nordea Research, about these topics, which are covered in their Nordea On Your Mind report “AI: The dawn of the data age”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

Seeing and hearing a lot about AI in the news? Wonder where all the hype is coming from? Have you ever worried about an AI becoming super-intelligent, taking over the world and having no use for humans? Or at least about AI replacing human jobs? Or are you a business leader, fearing that your company will become uncompetitive if it does not start using AI tools? In this podcast, Nordea Markets Chief Editor Martin O’Rourke talks to Johan Trocmé and Hemming Svensson from Thematics in Nordea Research, about these topics, which are covered in their Nordea On Your Mind report “AI: The dawn of the data age”. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.