Correction: CoinShares Announces Q1 2023 Results
An earlier version of this press release was missing the hyper link to our final Q1 Report as posted this morning on the CoinShares website. This corrected version of the press release now contains that link and the Q1 Earnings Report attached.
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
Attachment
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 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
Seafood “Canton Fair” Brings New Business Opportunities to Seize the China Seafood Market2.6.2023 04:17:37 CEST | Press release
GUANGZHOU, China, June 01, 2023 (GLOBE NEWSWIRE) -- The Global Seafood Trade Fair will be held in Guangzhou, China, from June 28th to 30th, 2023. It is organized by the China Aquatic Products Processing and Marketing Alliance and the China Aquatic Production Chamber of Commerce and managed by Wuhan Shihedao Network Technology Co., Ltd. With over 800 exhibitors and a 40,000 ㎡exhibition area, the Global Seafood Trade Fair will showcase a wide range of aquatic products, frozen goods, processed seafood, and related equipment, covering the entire industry chain of production, processing, and seafood trade. In addition, the exhibition will hold more than 20 onsite events, providing exhibitors with multiple opportunities for business exchange and collaboration, focusing on matching supply and demand, and promoting an efficient one-stop procurement and communication platform. This exhibition will provide you with a unique opportunity to explore the global catering market as well as go deeper i
Webull Australia avails Cboe US Options2.6.2023 01:00:00 CEST | Press release
SYDNEY, Australia, June 02, 2023 (GLOBE NEWSWIRE) -- Webull Securities (Australia) Pty. Ltd. ("Webull AU"), an Australian brokerage firm licensed by the Australian Securities Investment Commission that operates on the popular Webull trading platform, has announced the launch of a suite of Cboe Global Markets (Cboe) US index options on 23 April 2023. This new offering allows Australian retail investors access to cash-settled index options trading through Cboe’s popular US options suite, including the S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options and Mini-S&P 500 Index (XSP) options. The addition is an extension to Webull AU's existing US options offering and furthers Cboe’s and Webull’s commitment to offering new and innovative products and education resources to retail investors across the globe. The S&P 500 Index is the global benchmark of large-cap US equities and the VIX Index is the world's premier gauge of expected US equity market volatility. The introduction o
Westport Announces Effective Date of Share Consolidation1.6.2023 23:00:00 CEST | Press release
VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX:WPRT / Nasdaq: WPRT) a global leader in low-emissions alternative fuel transportation technologies is pleased to announce, further to its April 26, 2023 press release, the completion of the Company's proposed consolidation of its common shares ("Common Shares") on the basis of (1) new post-consolidation Common Share for every ten (10) existing pre-consolidation Common Shares (the "Consolidation"). As of the date hereof, and following the Consolidation, there are 17,174,972 Common Shares issued and outstanding. Immediately prior to the Consolidation, the Company had 171,751,409 Common Shares issued and outstanding. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would otherwise be issued will be rounded down to the nearest whole Common Share. A letter of transmittal with respect to the Consolidation is being
Constellation Brands to Report First Quarter Fiscal 2024 Financial Results; Host Conference Call June 30, 20231.6.2023 22:30:41 CEST | Press release
VICTOR, N.Y., June 01, 2023 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today it will report financial results for its first quarter ended May 31, 2023, on Friday, June 30, 2023, before the open of the U.S. markets. A conference call to discuss the financial results and outlook will be hosted by President and Chief Executive Officer, Bill Newlands, and Executive Vice President and Chief Financial Officer, Garth Hankinson, at 10:30 a.m. EDT, June 30, 2023. The conference call can be accessed by dialing +1-877-407-9121 and entering conference identification number 13739041, beginning at 10:20 a.m. EDT. A live, listen-only webcast of the conference call will be available on the company’s investor relations website at ir.cbrands.com under the News & Events section. When the call begins, financial information discussed on the conference call, and reconciliations of reported GAAP financial measures with comparable and other non-GA
Amlan International Names Beijing Zhongnong Pasture Biotechnology Co., Ltd. as Master Distributor in China1.6.2023 22:03:55 CEST | Press release
CHICAGO, June 01, 2023 (GLOBE NEWSWIRE) -- Amlan® International, the animal health business of Oil-Dri® Corporation of America and a global leader in mineral-based feed additives that optimize the intestinal health of poultry and livestock, is proud to announce its strategic restructuring plans for the China business. To streamline distribution and increase efficiency, Amlan has chosen Beijing Zhongnong Pasture Biotechnology Co., Ltd. as its master distributor in China. The strategic decision recognizes the significance of the Chinese market and Amlan’s successful longstanding partnership with Zhongnong. In 2021, China had the world’s largest swine meat production, 53 million MT, producing 44% of global production. Additionally, China was the world’s second largest broiler meat producer, producing 14.7 million MT, and the world’s third largest milk producer, producing 36.8 million MT in the same year. With nearly 20 years of experience serving the Chinese feed and farming industry, Zho