Reports Portal
Quarterly Reports
Q1 2022 Earnings Summary
Q1 2022 financial highlights
- Combined revenue, gains and other income of ÂŁ27.96 million (Q1 2021: ÂŁ39.91 million)
- Adjusted EBITDA of ÂŁ18.7 million (31 March 2021: ÂŁ34.2 million).
- Total comprehensive income of ÂŁ20.2 million (31 March 2021: ÂŁ32.1 million).
- ETP assets under Management (“AUM”) as at 31 March 2022 of £3.07 billion (31 March 2021: £3.4 billion)
- CoinShares Blockchain Global Equity Index (BLOCK Index) assets under Management (“AUM”) as at 31 March 2022 of £0.88 billion.
- Net asset position of the Group as at 31 March 2022 of ÂŁ221 million (December 2021: ÂŁ200.5 million).
Q1 2022 operational highlights
- Important steps taken towards the Group’s long-term strategy, including progressing plans to uplist to the Nasdaq Stockholm Main Market, hiring a Group Head of Marketing and Communications with a dedicated team and integrating consumer platform, Napoleon.
- Investment into key growth areas, including growing the staff base, which as at 31 March 2022 stands at 95 individuals (up from 42 as at 1 January 2020).
- Ongoing diversification of the Group’s asset management platform through the launch of 4 additional products within the CoinShares Physical product suite.
- A diversification in activities of the Capital Markets team, whose performance was driven by, among other things, the deployment of capital into DeFi protocols to generate staking rewards and yield.
- Continued deployment of Principal Investments arm, including increased stake in Swiss digital bank, FlowBank.
Access the Q1 report and other supporting reports in the column on the right.
Q4 & Preliminary Full Year 2021 Report Summary
- Adjusted EBITDA for the year ended December 2021 of ÂŁ121.7 million, achieving an Adjusted EBITDA margin of 80% (2020: ÂŁ22.3 million, 61%)
- Adjusted EBIT for the year ended 31 December 2021 of ÂŁ120.6 million (2020: ÂŁ22.0 million).
- Total comprehensive income for the year of ÂŁ114.3 million, (2020: ÂŁ18.6 million).
- Adjusted Basic EPS for the year ended 31 December 2021 of ÂŁ1.72 / SEK 21.64 (2020: ÂŁ0.29 / SEK 3.65). Adjusted Diluted EPS for the year ended 31 December 2021 of ÂŁ1.64 / SEK 20.63 (2020: ÂŁ0.29 / SEK 3.65).
- Management fees generated by the Group’s Asset Management Platform for the year of £80.6 million (2020: £18.4 million).
- Combined income and gains generated by the Group’s Capital Markets Infrastructure for the year of £62.2 million (2020: £16.8 million).
- Fair value gains on Principal Investments for the year of ÂŁ9.7 million (2020: ÂŁ1.0 million).
- ETP assets under management (“AUM”) as at 31 December 2021 of £3.3 billion (31 December 2020: £1.7 billion).
- CoinShares Blockchain Global Equity Index (“Block”) AUM as at 31 December 2021 of £880.5 million (31 December 2020: n/a).
- Net asset position of the Group as at 31 December 2021 of ÂŁ200.9 million (31 December 2020: ÂŁ56.5 million).
Q3 Earnings 2021 Summary
- Adjusted EBITDA for the nine months ended September 2021 of ÂŁ88.8 million, achieving an EBITDA margin of 81% (comparable period 2020: ÂŁ14.4 million, 59%).
- Total comprehensive income for the period of ÂŁ84.9 million, (comparable period 2020: ÂŁ14.3 million).
- Management fees generated by the Group’s Asset Management Platform for the period of £55.1 million (comparable period 2020: £11.3 million).
- Combined income and gains generated by the Group’s Capital Markets Infrastructure for the period of £45.9 million (comparable period 2020: £11.6 million).
- Fair value gains on Principal Investments for the period of ÂŁ9 million (comparable period 2020: ÂŁ1.4 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 ÂŁ167.2 million (31 December 2020: ÂŁ56.5 million).
- Staff base of the Group has increased to 58 as at 30 September 2021 (31 December 2020: 42).
To read the complete report, click the document titled "Q3 2021 Earnings Report" in our collateral column.
2021 Interim Report Executive Summary
- Adjusted EBITDA for the interim period of over ÂŁ62.8 million, achieving an EBITDA margin of 85% (H1 2020: ÂŁ8.6 million, 58%).
- Total comprehensive income for the period of ÂŁ58.7 million, (H1 2020: ÂŁ10.4 million).
- Management fees generated by the Group’s Asset Management Platform of £36.7 million (H1 2020: £6.7 million).
- Combined income and gains generated by the Group’s Capital Markets Infrastructure of £37.4 million (H1 2020: £8.0 million).
- Fair value gains on Principal Investments of ÂŁ4.1 million (H1 2020: ÂŁ0.4 million).
- Assets under management (“AUM”) as at 30 June 2021 of £2.2 billion, (31 December 2020: £1.7 billion).
- Net asset position of the Group as at 30 June 2021 of ÂŁ128.3 million, (31 December 2020: ÂŁ56.5 million).
- Staff base of the Group has increased to 50 as at 30 June 2021 (31 December 2020: 42).
2021 First Quarter and 2021 Second Quarter YTD Milestones
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Q1 Report
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Q1 Earnings Broadcast Transcript
- January 2021: With more than $202 million in XBT certificates changing hands on the market’s first day of trading in 2021, CoinShares had the highest volume traded in any European listed crypto ETP.
- February 2021: CoinShares aligned with the Massachusetts Institute of Technology (MIT) Media Lab, making a four-year, $0.5 million donation to the Digital Currency Initiative to help support open-source software development and advance the security of the Bitcoin protocol.
- March 2021: CoinShares successfully completed its public listing on the Nasdaq First North Growth Market. The Company raised 151.1 million Swedish krona, which equates to approximately $17.8 million, prior to listing related costs, and received retail subscriptions of more than 20x the retail offering and overall subscriptions of more than 4x the total offering, bringing in over 2,000 new shareholders and highlighting market demand. As of 11 March 2021, the Company’s shares began trading under the ticker symbol CS.
- April 2021: CoinShares extended its alliance with the DeFi Alliance and launched a new chapter in Europe as a founding partner. 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 in Europe.
Q4 & Preliminary Full Year Report Summary
- Management fees generated by CS Passive have increased from 2019 by 62%, to GBP 18.4 million
- Trading gains generated by CS Capital Markets have increased from 2019 by 75%, to GBP 16.4 million
- Adjusted EBITDA of the Group has increased from 2019 by 100%, to GBP 22.4 million, achieving a margin of 64%
- Total comprehensive income of the Group has increased from 2019 by 109% to GBP 18.7 million
- Level of Group assets under management (“AUM”) has increased over the year by 336% to GBP 1.74 billion (USD 2.37 billion)
- Net asset position of the Group has increased over the year by 24% to GBP 56.5 million.