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 Related Quotes
 Coinshares Intl Ltd Shs GBP0.000495 Jer  5.30   0.2149  4.23%
 Credit Suisse Group AM  0.8858   0.0087  0.99%
 Enter Symbols: 
CoinShares Announces Q4 2023 Results

SAINT HELIER, Jersey, Feb. 13, 2024 /PRNewswire/ -- CoinShares International Limited ("CoinShares'' or "the Group") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European alternative asset manager specialising in digital assets, has today published its results for the quarter ending 31st December 2023.

Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:

"After refining our strategy back in 2022, we're now navigating the correct course. As 2023 unfolded, we've been delighted to see the numbers validating our approach, with our EBITDA remaining robust throughout the year, particularly in Q4.

Yet, it's not solely about the numbers; it's the cohesive effort of every business unit and corporate function that has driven this success.

2023 has emerged as our second-best year on record, a confirmation of the solidity of our strategies and operational strength.

Our focus now is to leverage this momentum, aiming to expand globally and position CoinShares as the definitive one-stop shop for digital asset investment worldwide."

Q4 2023 financial highlights

  • Q4 revenue, gains and other income of £33.3 million (Q4 2022: £14.3 million)
  • Q4 adjusted EBITDA of £25.7 million (Q4 2022: negative £23.8 million)
  • Total comprehensive income for Q4 2023 of £15.3 million (Q4 2022: negative £37.1 million)

Full Year 2023 financial highlights

  • 2023 revenue, gains and other income of £85.7 million (2022: £72.4 million)
  • 2023 adjusted EBITDA of £56.9 million (2022: negative £6.8 million)
  • Total comprehensive income for 2023 of £37.9 million (2022: £2.9 million)

Q4 2023 operational highlights

  • Positive start to 2023, consistent positive EBITDA throughout, with a very strong Q4 performance.
  • Asset Management: Q4 management fees of £13.0 million. CoinShares Physical drove significant inflow, contributing to a total year platform inflow of $213.2 million. CoinShares Physical's AUM reached £567.3 million (excluding CoinShares' seed) representing 19% of total Group's AUM.
  • CoinShares Blockchain Global Equity Index (Index): Strong Q4, 51% return in 2023, surpassing MSCI World and S&P 500. Ended 2023 with £576.1 million benchmarked to the Index, the second-largest of its kind globally. Expansion into the US market set to tap into a larger investor base.
  • Capital Markets & Hedge Fund Solutions: Q4 top-line performance of £12.7 million. Performance boosted by staking, trading gains, and lending.
  • Principal Investments: Recovery in Q4 with strategic divestments in 3iQ and SBG, generating liquidity for reinvestment.
  • Overall strong performance with Adjusted EBITDA of £25.7 million for Q4, full-year figure at £56.9 million.

Dividend policy

The board of directors has adopted an amended dividend policy. While we remain committed to growth, we also wish to reward our shareholders for their trust and support.

The policy stipulates that the annual dividend payment will be between 20% and 40% of the Group's annual total comprehensive income, excluding currency translation differences.

The annual dividend payment will be made payable in SEK in four quarterly instalments via the Euroclear Sweden settlement system, subject to an assessment by the Board of the financial health and cash requirements of the Group prior to each payment being made.

CoinShares maintains a variety of strong banking relationships globally, however the ability to pay a dividend remains subject to the successful establishment of the requisite Swedish banking relationship to facilitate payment through Euroclear. A further update will be made in due course.

The performance for Q4 marks the Group's strongest quarter since the end of 2021 and has contributed to 2023 being the second strongest year in the Group's history after 2021. Full details of the Q4 results, inclusive of financial information on each of the Group's business units, are included within the full report, available here.

The Annual Report for the Group, inclusive of full audited financials is due to be released on 30th April 2024.

ENDS

Download the Swedish Executive Summary here.

ABOUT COINSHARES

CoinShares is the leading European 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, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and 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 below, at 7:00 am CET on 13th February 2024.

PRESS CONTACT

CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com

M Group Strategic Communications
Peter Padovano
press@coinshares.com

Cision src=https://c212.net/c/img/favicon.png?sn=NY35175&sd=2024-02-13 View original content to download multimedia:https://www.prnewswire.com/news-releases/coinshares-announces-q4-2023-results-302060164.html

SOURCE CoinShares Group

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