The full report, which is linked in this press release, can also be found on the CoinShares Investor Relations site.
2021 Interim Financial Results Highlights
- Total comprehensive income of £58.7 million.
(H1 2020: £10.4 million, FY2020: £18.4 million).
- Adjusted EBITDA of £62.8 million, achieving a margin of 85%.
(H1 2020: £8.6 million / 58%, FY2020: £22.1 million / 63%).
- Management fees generated by the Group’s Asset Management Platform of £36.7 million.
(H1 2020: £6.7 million, FY2020: £18.4 million).
- Income and gains generated by the Group’s Capital Markets of £37.4 million
(H1 2020: £8.0 million, FY2020: £16.8 million).
- Fair value gains on Principal Investments of £4.1 million.
(H1 2020: £0.4 million, FY2020: £1.0 million).
- Assets under Management (“AUM”) as at
30 June 2021 of £2.2 billion.
(
- Net asset position of the Group as at
30 June 2021 of £128.3 million.
(
Commenting on today’s results, Jean-Marie Mognetti, Chief Executive Officer of
Mr. Mognetti continued, “We are now in what I believe is the best corporate and financial position we have ever been in and have a lot of exciting opportunities ahead to improve our business and drive shareholder value.”
2021 Interim Financial Results Summary
Following the Group’s record Q1 results as announced on
The volatility that accompanied these price increases, and the subsequent volatility of the declines seen in the latter part of May, continuing into June, resulted in market conditions that the Group was able to benefit from. Delta neutral trading strategies, fixed income activities and liquidity provisioning for the Company’s own products all contributed to the strong performance of the Group’s Capital Markets Infrastructure.
2021 Interim Commercial and Operational Highlights
- Expanded our footprint into the equities market with the acquisition of the ETF index business from Elwood Technologies, as announced on
6 July 2021 , establishing a partnership with Invesco to further bridge the gap between traditional asset management and cryptocurrencies, whilst broadening both firms’ connectivity with global institutional investors and allocators.1 - Reached record trading volumes across our two ETP platforms on
19 May 2021 , with more than$490m in CoinShares ETPs changing hands in a single day, being the highest volume of any European crypto ETP provider.2 These volumes demonstrated the robustness of the CoinShares Asset Management platform, which continued to operate seamlessly during volatile periods when several crypto exchanges halted trading. - On
7 June 2021 ,CoinShares announced that three of its physically backed ETPs (CoinShares Physical Bitcoin, Ethereum and Litecoin ETPs) cross-listed on Germany’s Börse Xetra exchange.3 - This was followed on
21 June 2021 with an exclusive crypto ETP platform partnership with Finanzen.net, the largest platform for German-language financial and investment news. As a result of the partnership,CoinShares will be the sole provider of physically-backed crypto products on the newly launched investment platform finanzen.net “zero”.4 - Collaborated with 3iQ to launch the 3iQ CoinShares Bitcoin ETF5 and Ether ETF6 which are both publicly listed on the Canadian market.
CoinShares and theDeFi Alliance extended their partnership, launching a new chapter inEurope withCoinShares serving as a founding partner.7 This alliance brings together other leading European crypto companies with a vision of supporting European DeFi startups with capital and liquidity and collaboration with partners to build a robust DeFi ecosystem inEurope .- Partnership with Blockdaemon, the leading institutional crypto infrastructure provider and largest independent blockchain infrastructure platform, to build staking and blockchain networking infrastructure into its larger trading and asset management platform.7
- Strategic investment into a new ESG-focused investment management company in
the United States , Viridi Funds.8 The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (NYSE: RIGZ) commenced trading on20 July 2021 .
The Company will hold a webcast on Thursday,
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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.
1 Source: https://coinshares.com/news/coinshares-to-acquire-global-blockchain-equity-index
2 Source: https://coinshares.com/news/coinshares-announces-record-setting-2021-first-quarter-financial-results
3 Source: https://coinshares.com/news/coinshares-lists-physically-backed-crypto-etps-on-boerse-xetra
4 Source: https://coinshares.com/news/coinshares-and-finanzen-zero-announce-exclusive-crypto-etp-platform-partnership
5 Source: https://coinshares.com/investor-relations/press-releases/coinshares-announces-strategic-collaboration-3iq-coinshares-bitcoin-etf
6 Source: https://coinshares.com/investor-relations/press-releases/coinshares-and-3iq-have-collaborated-to-launch-the-3iq-coinshares-ether-exchange-traded-fund-etf
7 Source: https://coinshares.com/news/coinshares-selects-blockdaemon-to-build-staking-into-its-market-infrastructure-and-trading-footprint
8 Source: https://coinshares.com/news/coinshares-announces-strategic-investment-in-viridi-funds-an-esg-focused-financial-products-manager
Attachment
- COINSHARES_Q2_2021_REPORT
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