31 October 2022 | SANT’HELIER, Jersey | CoinShares International Limited (Nasdaq First North Growth market : CS; OTCQX USA: CNSRF) (“CoinShares“), Europe’s leading digital asset investment firm today announced results for the third quarter ending September 30, 2022.
Jean Marie MognettiChief Executive Officer of CoinSharesShe said :
“We are pleased to announce our resilient performance during the quarter, with a return to profitable growth despite the recent and residual turmoil in the digital assets sector.
Adjusted EBITDA (£ 6.4 million in the quarter) and the significant increase in book net asset value (+ 43.5% to £ 240 million from £ 167 million in Q3 2021) demonstrate the rebound of CoinShares after the difficulties of the sector in the second quarter. We continue to generate strong revenue from our wealth management businesses while the underlying performance of our capital markets division remains solid.
During the quarter, we continued to develop the group and conducted a number of important strategic developments, which will continue until the end of the year. In particular, the acquisition by CoinShares from Napoleon Asset Management, the first asset manager digital in Europe to be regulated by the AIFM Directive, we received MFA approval in July and in September we completed the rebranding and relaunched our platform platform which caters to amateur cryptocurrency traders – previously Napoleon – under the name of HAL.trading.
Our plan to transfer our shares to Stockholm’s main Nasdaq market continues. The team made significant progress in this direction in the third quarter, and we are currently in progress review by stock market auditors.
CoinShares was well equipped to withstand the recent market turbulence, thanks to its resilient strategy which attests to the strength and solidity of its business model. “
Key financial results for the third quarter of 2022
- Total GDP revenue 42.7 million since the beginning of the year (first 9 months of 2021: GDP 55.1 million).
- Total comprehensive income of GDP 20.0 million in the third quarter (Q3 2021: GDP 26.2 million)
- Adjusted EBITDA of GDP 6.4 million in the third quarter (Q3 2021: GDP 26.0 million)
Main operating results for the third quarter of 2022
- Important steps have been taken as part of the group’s long-term strategy, including the continuation of the project to move the share price of the group to the main Nasdaq market in Stockholm and the launch of a new version of our targeted platform at traders. cryptocurrency enthusiasts with the HAL.trading brand.
- Continued investments in the asset management division: the CoinShares Physical product line remains the European market leader with a net inflow of $ 127 million. During the third quarter, CoinShares Physical was the European leader in terms of net inflow of BTC and ETH and the division launched a new ETP CoinShares Physical Staked Algorand in July 2022, bringing the total number of CoinShares products to 18 Physical and XBT Provider .
- The book’s net asset value increased by 43.5% over the year, reaching £ 240 million at the end of the third quarter (versus £ 167.2 million in the third quarter of 2021), putting CoinShares in an ideal position. to emerge stronger than ever from this phase of consolidation.
- The continuation of the share buyback program, which we believe to be the best use of capital while the share price remains below the net asset value, with the repurchase of n. 249,396 shares (on the market or through cancellation options acquired and in the money) in the third quarter at an average price of 21.68 SEK, for a total cost of: 5,407,226.21 SEK.
For the full CoinShares third quarter report, follow this link.
ON THE SHARES IN COIN
CoinShares is a leading digital asset trading and investment group, providing a wide range of financial services in the areas of wealth management and trading to a wide range of clients including corporations, financial institutions and individuals. The group is headquartered in Jersey and has a presence in France, Sweden, the United Kingdom and the United States. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers and in the United States by the Financial Industry Regulatory Authority. CoinShares is listed on the Nasdaq First North Growth Market with the ticker CS and on OTCQX with the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
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CoinShares International Limited is required to make this information public in accordance with EU Market Abuse Regulation 596/2014. The information contained in this press release was published through the agency’s contact persons
above, at 16:00 GMT on October 31, 2022.
H / Havas Paris consultants
Alienor Miens / Guillaume Delacroix
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