GlobeNewswire by notified

CoinShares Announces Q1 2023 Results

Share

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 www.globenewswire.com, please give your consent at the top of this page.
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 notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire 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

Baltic Horizon Fund consolidated audited results for 202329.3.2024 10:35:00 CET | Press release

Management Board of Northern Horizon Capital AS has approved the audited financial results of Baltic Horizon Fund (the Fund) for the year 2023. The financial results remained unchanged compared to the preliminary disclosure on 15 February 2024. Executing our strategy In a challenging economic landscape characterized by inflation, interest rate volatility, and recent geopolitical events, the Fund has assessed various strategic options to navigate these complexities and ensure future growth. Over the past year, our focus has been on reshaping our strategy to foster sustainable value, concentrating efforts on avenues that promise reliable and consistent growth for our investors. In light of prevailing market conditions, we firmly believe that the execution of the ‘Modern City Life’ strategy, introduced to investors in summer 2023, is paramount to their best interests. In the coming years, we expect two thirds of the Fund’s NOI to come from the centrally located ‘Modern City Life’ multi-fu

Progress on ABN AMRO share buyback programme 22 – 28 March 202429.3.2024 08:00:00 CET | Press release

Progress on ABN AMRO share buyback programme 22 – 28 March 2024 ABN AMRO reports the transaction details related to its EUR 500 million share buyback programme announced on 14 February 2024. During the week of 22 March 2024 up to and including 28 March 2024 a total of 3,000,000 shares and depositary receipts were repurchased at an average price of €15.47 for a total amount of €46,409,760.00. For detailed information on the daily repurchased shares and depositary receipts, individual share purchase transactions and weekly reports, see the ABN AMRO website at https://www.abnamro.com/en/investor-relations/information/share-buyback-programme. To date the total consideration for shares and depositary receipts repurchased amounts to €279,519,000.00 representing 55.9% of the overall share buyback programme. ABN AMRO Press Office pressrelations@nl.abnamro.com +31 20 6288900ABN AMRO Investor Relations investorrelations@nl.abnamro.com +31 20 6282282 This press release is published by ABN AMRO Ba

Public announcement in accordance with article 7:97, §4/1 of the Belgian Companies and Associations Code (“BCAC”) concerning a capital increase by contribution in kind29.3.2024 07:00:00 CET | Press release

Press release Brussels, 29 March 2024 Regulated information – Inside information Public announcement in accordance with article 7:97, §4/1 of the Belgian Companies and Associations Code (“BCAC”) concerning a capital increase by contribution in kind On 20 November 2023, Orange Belgium SA (the “Company”) received notification from Nethys SA (“Nethys”) of its wish to contribute its 25% + 1 shareholding in VOO Holding SA (“VOO”) to the capital of the Company, provided that such contribution results in Nethys holding at least 11% of the Company's share capital (after contribution), pursuant to the provisions of the shareholders' agreement entered into by and between the Company, Atlas Services Belgium SA (“ASB”) and Nethys on 2 June 2023. Nethys can be considered a “related” party to the Company within the meaning of the IAS standards, as it has significant influence over VOO within the meaning of IAS and VOO is part of the group to which the Company belongs. Date and value of the planned t

McWhorter Foundation Combats Nelson Peltz’s Outdated Ideologies and Advocates for Sustainable Inclusivity In Corporate Leadership29.3.2024 06:59:56 CET | Press release

PALM BEACH, Calif., March 29, 2024 (GLOBE NEWSWIRE) -- C.K. McWhorter, chairman of the McWhorter Foundation, voices concerns over outdated perspectives in corporate leadership, exemplified by recent remarks from Nelson Peltz regarding Disney's film direction. After encountering instances of racism and exclusivity on Town of Palm Beach Island (known as home to Jeffrey Epstein, Nelson Peltz and others), McWhorter reflects on the disconnect between elite boardroom discussions and the realities faced by diverse communities. While briefly meeting Nelson Peltz and shaking hands after both departed separate lunches, McWhorter initially respected his insights. However, recent comments made by Peltz suggesting Disney should avoid inclusive films have raised eyebrows and prompted McWhorter to speak out. "It's concerning when influential figures like Peltz advocate against inclusivity in entertainment," McWhorter comments. "The future is in diversity and representation, especially as millennial a

Junshi Biosciences Announces 2023 Full Year Financial Results and Provides Corporate Updates29.3.2024 05:24:27 CET | Press release

SHANGHAI, China, March 29, 2024 (GLOBE NEWSWIRE) -- Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences,” HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial results for the full year of 2023 and provided corporate updates. FINANCIAL HIGHLIGHTS Total revenue was approximately RMB1,503 million during 2023. The revenue from pharmaceutical products increased by approximately 58% compared to 2022. The sales revenue of TUOYI® (toripalimab) was approximately RMB919 million, representing an increase of approximately 25% compared to the previous year.Total research and development (“R&D”) expenses were approximately RMB1,937 million in 2023, representing a decrease of approximately 19% compared to 2022. The decrease in R&D expenses was mainly due to the strategic management of R&D investments in certain early-stage pipelines, while optimizing resource all

HiddenA line styled icon from Orion Icon Library.Eye