CoinShares Announces Q1 2023 Results
Q1 2023 has seen a return to profitability in a challenging environment, demonstrating the robust nature of the Group’s underlying business model.
16th May 2023 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Company”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European digital asset manager, has today published its results for the quarter ending 31st March 2023.
Jean-Marie Mognetti, Chief Executive Officer ofCoinSharessaid:
“I'm pleased to announce that Q1 2023 has underscored CoinShares' robust resilience and adaptability. The financial landscape has been riddled with obstacles this quarter, yet, CoinShares has emerged not just unscathed, but stronger. Looking ahead, I remain optimistic about our industry and CoinShares' place within it.”
Q1 2023 financial highlights
- Q1 revenue of £9.4 million (Q1 2022: £18.0 million)
- Q1 Gains and Other income of £5.9 million (Q1 2022: £11.2 million)
- Q1 adjusted EBITDA of £8.5 million (Q1 2022: £19.4 million)
- Total comprehensive income for Q1 2023 of £2.9 million (Q1 2022: £20.7 million)
Q1 2023 operational highlights
- CoinShares, as Europe's leading alternative asset manager for digital assets, is enhancing its portfolio of offerings in 2023 with the establishment of an active asset management business line.
- CoinShares' Passive Asset Management division had a steady quarter, generating management fees of £9.2 million. CoinShares introduced fee-free services for our CoinShares Physical Ethereum ETP and launched two new crypto ETP indices: CoinShares Physical Top 10 Crypto Market, which provides exposure to a diverse range of cryptocurrencies for cost-effective diversification, and the CoinShares Physical Smart Contract Platform, which offers exposure to the infrastructure layers of the digital asset market. Amid market fluctuations, our collaboration with Invesco held firm globally, and funds linked to our BLOCK index attracted $20.8 million in new investments.
- CoinShares' Capital Markets division reported gains and other income in Q1 of £6.7 million. During the past quarter the Capital Markets department has executed three strategic actions to mitigate risk and enhance due diligence: bolstering our counterparty controls and processes using internal expertise; pioneering professionalisation of the sector to reduce counterparty risks, including establishing proofs of concept with several exchanges and custodians for safer trading; and securing new banking partnerships to ensure smooth US dollar transactions in light of recent regulatory changes in the crypto market. These efforts have been instrumental in delivering performance over Q1.
ENDS
For the full CoinShares Q1 2023 report, click this link.
ABOUT COINSHARES
CoinShares is the European leading alternative asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out above, at 8:00 am GMT+1 on 16th May 2023.
PRESS CONTACT
CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com
H/Advisors Maitland
Freddie Barber / Alasdair Todd
coinshares@h-advisors.global
+44 (0) 207 379 5151
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notifiedGlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Correction: Avance Gas Holding Ltd: Key information relating to the dividend for the first quarter 202330.5.2023 15:30:30 CEST | Press release
Bermuda, May 30 2023 Please note that the record date has been included to the below key information relating to dividend for the first quarter 2023. Key information relating to the dividend to be paid by Avance Gas Holding Ltd. for the first quarter 2023: Dividend amount: $0.50 Declared currency: USD Last day including right: June 6, 2023 Ex-date: June 7, 2023 Record date: June 8, 2023 Payment date: June 14, 2023 Date of Approval: May 29, 2023 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Jonathan Milner calls Extraordinary General Meeting to restore focus to Abcam on governance, execution, and cost control30.5.2023 15:30:00 CEST | Press release
Jonathan Milner calls Extraordinary General Meeting to restore focus to Abcam on governance, execution, and cost control Proposal to appoint Jonathan Milner Executive Chairman of the Board Proposal to remove Peter Allen, Michael Baldock, and Sally Crawford as Directors of the Company ExecutiveChairman Milner intends torestore Abcam to the valuation it deserves CAMBRIDGE, England, 30May 2023 – Jonathan Milner, the founder and one of the largest investors in Abcam plc (“Abcam” or the “Company”) (NYSE: ABCM) with ownership of 6.3% of the Company, announced today that he has formally requisitioned the Board of Directors to convene an extraordinary general meeting of shareholders (“EGM”) to reverse a period of sustained financial and operational underperformance by providing more effective Board level leadership for the Company. The EGM will enable shareholders to vote on the following proposals: The removal of Peter Allen, Michael Baldock, and Sally Crawford from office as Directors of the
PHARMANOVIA ENTERS NEW CHEMICAL ENTITY LICENSING AGREEMENT WITH STEALTH BIOTHERAPEUTICS TO MARKET AND FURTHER DEVELOP A POTENTIAL NOVEL TREATMENT FOR BARTH SYNDROME30.5.2023 15:25:24 CEST | Press release
Basildon, UK, May 30, 2023 (GLOBE NEWSWIRE) -- PRESS RELEASE - FOR BUSINESS & TRADE MEDIA ONLY THE AGREEMENT COVERS RIGHTS FOR ELAMIPRETIDE FOR BARTH SYNDROME IN THE EU, NORWAY, SWITZERLAND, UK, ICELAND, AND MIDDLE EAST & NORTH AFRICA (MENA) TERRITORIESTHERE ARE NO CURRENT APPROVED TREATMENTS FOR BARTH SYNDROMETHIRD NEW CHEMICAL ENTITY DEAL FOR PHARMANOVIA, EXPANDING PORTFOLIO IN CARDIOLOGY AND RARE DISEASES Pharmanovia, a global pharmaceutical company that commercialises novel medicines and revitalises, extends and expands the lifecycle of established medicines, has today announced the expansion of its cardiology portfolio through a new licensing agreement with US-based biopharmaceutical company, Stealth BioTherapeutics Inc. The agreement gives Pharmanovia the licensing rights to elamipretide for Barth syndrome in Europe and MENA. This is a significant milestone as ongoing studies indicate that elamipretide has the potential to improve the quality of life for people with Barth syndrom
Golar releases its 2022 Environmental, Social and Governance report30.5.2023 15:23:39 CEST | Press release
Golar LNG Limited (“Golar”) is pleased to announce that it has issued its 2022 Environmental, Social and Governance (“ESG”) report. This comprehensive report describes Golar’s important role in advancing the global energy transition to a lower carbon future - championing LNG as a transition fuel in partnership with renewables, and as a reliable alternative for those in need of energy security today. Our 2022 ESG report is attached and will also be posted to our website. Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” or the negat
Awilco Drilling PLC: Notice of Annual General Meeting 202330.5.2023 15:15:00 CEST | Press release
The Annual General Meeting of Awilco Drilling PLC will be held Monday 26 June 2023 at 12:00 noon (UK time), at the offices of Awilco Drilling on 2 Kingshill Park, Venture Drive, Arnhall Business Park, Westhill, Aberdeen, AB32 6FL, UK. The notice including agenda for the General Meeting is attached to this disclosure. The notice will be sent by mail or e-mail to the shareholders. The notice and appendices have been made available on our website www.awilcodrilling.com. Aberdeen, 30 May 2023 For further information please contact: Eric Jacobs, Interim CEO Phone: +44 1224 737900 Cathrine Haavind, Investor Relations Phone: +47 93 42 84 64 Email: ch@awilcodrilling.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Attachment AWDR AGM Notice 2023