Swissquote : Annual reportAnnual report 2022

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ANNUAL REPORT 2022

swissquote.com

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Key figures

OUR EXTERNAL REPORTING APPROACH

The legal and regulatory framework shapes the way Swissquote is performing external reporting. Swissquote is subject to Swiss legal and regulatory requirements (including the requirements by the Swiss Financial Market Supervisory Authority FINMA and the Swiss Code of Obligations), accounting standards and SIX Swiss Exchange rules.

In this regard, Swissquote issues an Annual Report that contains a financial report, a corporate governance report, a remuneration report and a sustainability report.

Financial Report

Corporate

Governance

Report

Remuneration Report

Sustainability Report

The Swissquote	The financial report	The corporate	The remuneration	The sustainability
Annual Report	contains our audited	governance report	report provides	report gives
consists of one	consolidated	informs shareholders,	information about	comprehensive
volume containing the	financial statements	other members of	the Group's	insights into our
four reports as	and notes, as well the	the financial	remuneration policy	sustainability
described thereafter.	audited statutory	community and the	and organisation and	approach and
	financial statements	larger public on	about the	performance by
	and notes.	Swissquote's policies	remuneration of the	employing the GRI
		in matters of	members of the	Standards.
		corporate	Board of Directors
		governance.	and the Executive
			Management.

A dedicated website offers a comprehensive oversight of external reporting and covers an investment case, statements from our CEO and highlights of the year. In addition, a chart generator is available with the most important financial and non-financial figures and comparatives. All the reports, some selected key figures and a financial presentation are available in our download center.

Concept/Design: Linkgroup AG, Zurich, www.linkgroup.ch

Annual Report 2022

Key figures	2
Swissquote share	4
Business model	6
Swissquote culture	8
Highlights 2022	10
Report to the shareholders	12

FINANCIAL REPORT	16
Consolidated financial statements	19
Report of the statutory auditor on the consolidated
financial statements	117
Statutory financial statements	121
Proposed appropriation of retained earnings	129
Report of the statutory auditor on the financial statements	130

CORPORATE GOVERNANCE REPORT	134
REMUNERATION REPORT	180
Report of the statutory auditor on the Remuneration Report	211
Supplementary regulatory disclosures	213
SUSTAINABILITY REPORT	218
Independent practitioner's limited assurance report	264
Global offices	269

The Swiss leader in online banking

www.swissquote.com

Annual Report 2022

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Key figures

Swissquote is reporting robust and qualitatively strong numbers for the year 2022

2022

2021

2020

2019

2018

Number of accounts % change

Net new money in CHFm % change

Client assets in CHFm ¹

• change Employees
• change

538,946

10.5%

7,748

-19.3%

52,189

-6.6%

1,056

10.9%

487,847		410,248		359,612		329,100
18.9%		14.1%		9.3%		6.4%
9,600		5,275		4,558		3,115
82.0%		15.7%		46.3%		14.8%
55,890		39,773		32,241		23,822
40.5%		23.4%		35.3%		-1.2%
952		805		722		662
18.3%		11.5%		9.1%		11.6%

1 Including assets that are not held for custody, but for which the technology of the Group gives clients access to asset classes and stock markets and/or for which services are provided by Swissquote's Robo-Advisor. The figures presented in the above table exclude the assets from customers of the joint venture Yuh Ltd.

in CHF thousand, except where indicated	2022
Operating income		408,146
% change		-13.5%
Operating expenses		214,957
% change		-13.2%
Operating profit		186,387
% change		-16.5%
Operating profit margin [%]		45.7%
Net profit		157,394
% change		-18.5%
Net profit margin [%]		38.6%
Total equity		741,128
% change		20.4%
Capital ratio [%] 1		24.8%

1 Since 2021, capital ratio is presented after future proposed dividend.

2021		2020		2019		2018
471,803		341,337		232,355		223,041
38.2%		46.9%		4.2%		18.8%
247,534		211,668		180,052		160,763
16.9%		17.6%		12.0%		13.2%
223,342		105,642		50,588		53,761
111.4%		108.8%		-5.9%		17.4%
47.3%		30.9%		21.8%		24.1%
193,113		91,021		44,654		44,603
112.2%		103.8%		0.1%		13.8%
40.9%		26.7%		19.2%		20.0%
615,459		440,181		374,757		352,221
39.8%		17.4%		6.4%		19.3%
26.2%		23.0%		21.7%		29.0%

133.50 CHF	24.8%	408.1m CHF
SWISSQUOTE STOCK PRICE	CAPITAL RATIO	OPERATING INCOME

as at 31 December 2022

Annual Report 2022

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