CoinShares Announces Interim Results for the Period ended 30 September 2021
CoinShares International Limited (CS) reported record financial results for Q3 2021, showcasing significant growth in its operational performance. Total comprehensive income reached £84.9 million, a stark increase from £14.3 million in 2020. Adjusted EBITDA stood at £88.8 million, with an impressive margin of 81%. Assets under Management rose to £2.9 billion, compared to £1.7 billion at the end of 2020. The management fees from the Asset Management Platform increased significantly, showcasing the Group's resilience and growth potential in the digital asset ecosystem.
- Total comprehensive income increased to £84.9 million from £14.3 million year-on-year.
- Adjusted EBITDA rose to £88.8 million with an 81% margin, up from 59% in 2020.
- Management fees reached £55.1 million, compared to £11.3 million in the previous year.
- Assets under Management increased to £2.9 billion, up from £1.7 billion at the end of 2020.
- Net asset position improved to £167.2 million from £56.5 million at year-end.
- None.
SAINT HELIER, Jersey, Nov. 4, 2021 /PRNewswire/ -- CoinShares International Limited (Nasdaq First North Growth Market: CS) ("CoinShares", the "Group" or the "Company") today released its financial results and operational updates for the third quarter and nine-months ended 30 September 2021.
The full report, which is linked in this press release, can also be found on the CoinShares Investor Relations site.
Financial Results Summary
Following the Group's record Q2 results as announced on 5 August 2021, CoinShares achieved a record Q3, resulting in the strongest nine-month performance in the Group's history. The financial highlights for the period ended 30 September 2021 include:
- Total comprehensive income of
£84.9 million
(2020 comparative:£14.3 million ; 2020 full year:£18.4 million ). - Adjusted EBITDA of
£88.8 million , achieving a margin of81%
(2020 comparative:£14.4 million /59% ; 2020 full year:£22.1 million /61% ). - Management fees generated by the Group's Asset Management Platform of
£55.1 million
(2020 comparative:£11.3 million ; 2020 full year:£18.4 million ). - Income and gains generated by the Group's Capital Markets Infrastructure of
£45.9 million
(2020 comparative:£11.6 million ; 2020 full year:£16.8 million ). - Fair value gains on Principal Investments of
£9.0million
(2020 comparative:£1.4 million ; 2020 full year:£1.0 million ). - Assets under Management ("AUM") as at 30 September 2021 of
£2.9 billion
(31 December 2020:£1.7 billion ). - Net asset position of the Group as at 30 September 2021 of
£167.2 million
(31 December 2020:£56.5 million ).
Commenting on today's results, Jean-Marie Mognetti, Chief Executive Officer of CoinShares stated,
"CoinShares continues to evidence consistent performance in its legacy activities while expanding its offering, improving upon its existing infrastructure, and delivering value to its shareholders and the wider digital asset ecosystem."
"Over Q3 and despite some head winds, we have largely maintained the momentum that was seen moving into 2021. This performance demonstrates our business model's resilience and ability to scale; we continue to take advantage of the evolution seen in the wider industry and translate it into total comprehensive income and balance sheet growth."
The Company will hold a webcast on Thursday, 4 November 2021 at 3:00 pm GMT (11:00 am ET) to discuss the results for the period ended 30 September 2021. The live webcast of the earnings conference call can be accessed on the Investor Relations section of the CoinShares website at http://coinshares.com/investor-relations. A replay of the webcast will be available online approximately 2 hours following the live call for a period of 30 days.
About the CoinShares Group
CoinShares is Europe's largest and longest standing digital asset firm, managing billions of assets on behalf of a global client base. Our mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under ticker CS.
For more information on CoinShares, please visit: https://coinshares.com
Company | + 44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations – Jay Morakis | + 1 646 859 5951
Certified Advisor – Mangold Fondkommission AB | + 46 (0)8 503 015 50 | ca@mangold.se
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 on Thursday, November 4 2021.
Forward looking statements
The report contains certain forward-looking statements and opinions. Forward looking statements are statements that do not relate to historical facts and events, and such statements and opinions pertaining to the future that, for example, contain wordings such as "believes", "estimates", "anticipates", "expects", "assumes", "forecasts", "intends", "could", "will", "should", "would", "according to estimates", "is of the opinion", "may", "plans", "potential", "predicts", "projects", "to the knowledge of" or similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements and opinions in the report concerning future financial returns, plans and expectations with respect to the business and management of the Company, future growth and profitability, and the general economic and regulatory environment, and other matters affecting the Company.
Forward-looking statements are based on current estimates and assumptions made according to the best of the Company's knowledge. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause the actual results, including the Company's cash flow, financial position, and operating profit, to differ from the information presented in such statements, to fail to meet expectations expressly or implicitly assumed or described in those statements or to turn out to be less favourable than the results expressly or implicitly assumed or described in those statements. Accordingly, prospective investors should not place undue reliance on the forward-looking statements contained herein and are strongly advised to read the entire report. The Company cannot give any assurance regarding the future accuracy of the opinions set forth herein or as to the actual occurrence of any predicted developments.
In light of the risks, uncertainties and assumptions associated with forward-looking statements, it is possible that the future events mentioned in the report may not occur. Moreover, the forward-looking estimates and forecasts derived from third party studies referred to in the report may prove to be inaccurate. Actual results, performance or events may differ materially from those presented in such statements due to, without limitation, changes in general economic conditions, in particular economic conditions in the markets in which the Company operates, changes affecting interest rate levels, changes affecting currency exchange rate, changes in levels of competition and changes in laws and regulations.
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SOURCE CoinShares Group
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