CoinShares reports strong Q2 results with revenue of £22.5 million, emphasizing growth and dividend policy

From GlobeNewswire.: 2024-08-06 01:00:00

CoinShares International Limited has released its second-quarter results, showing significant growth across various financial metrics. Revenue for Q2 2024 was £22.5 million, up from £10.7 million in Q2 2023. Total profits and other income also increased to £15.2 million, with adjusted EBITDA reaching £26.6 million.

The company’s CEO, Jean-Marie Mognetti, highlighted the strong performance in Q2, attributing it to the momentum built in Q1. CoinShares’ strategic focus on profitability and growth has resulted in a new dividend policy and expansion efforts in the US. Despite challenges, the company remains committed to its position as a leader in digital assets.

In Q2 2024, CoinShares saw success in its capital management division, securing its position in Europe and launching new products in the US market. The company also navigated market dynamics in its Capital Markets & Hedge Fund Solutions segment, demonstrating resilience and adaptability. A key highlight was the successful sale of its FTX claim, achieving a 116% recovery rate.

The company’s strategic approach included a significant write-down of investments due to the bankruptcy of the Swiss digital bank FlowBank SA. However, positive outcomes from other investments, like Komainu and WAO Holdings, have shown promising profitability. CoinShares aims to optimize its main investment activities while rewarding shareholders with increased dividends.

As part of its commitment to creating shareholder value, CoinShares announced an extra dividend following the repayment of the FTX claim. The company’s shift in dividend policy underscores its focus on long-term growth and investor confidence. By continuing to manage its investments prudently, CoinShares aims to enhance shareholder returns.

CoinShares, a leading European investment firm specializing in digital assets, emphasized its comprehensive financial services and regulatory compliance. With a focus on cryptocurrency since 2013, the company operates in several countries, including Jersey, France, Sweden, and the US, offering diverse investment opportunities and services under strict regulatory oversight.



Read more at GlobeNewswire.:: CoinShares presenterar sina resultat för Q2 2024