31st May 2022 | SAINT HELIER, Jersey | CoinShares International Limited (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF) (“CoinShares”), Europe’s largest and longest standing digital asset investment firm today published its 2021 Annual Report, providing comprehensive and detailed information on the firm, its financial performance, its strategy, corporate governance and the industry and market for the 2021 financial year. The report includes the audited financial statements for the year ending 31 December 2021 and notice for the forthcoming AGM. The full report can be found here. The AGM Notice can be found here.
2021 financial highlights
- Revenue of £80.75 million (2020: £18.38 million).
- Operating profit* of £101.41 million (2020: £17.11 million).
- Total comprehensive income for the year £113.44 million (2020: £18.55 million).
- Net asset position of the Group as at 31 December 2021 of £200.0 million (December 2020: £56.5 million).
*Operating Profit taken from the Group’s Alternative Statement of Comprehensive Income
- CoinShares strategy is based on three pillars:
- Strengthen our foundations by continuing to innovate in our core businesses such as Asset Management and Capital Markets.
- Continue to explore strategic partnerships and acquisitions, allowing CoinShares to grow and diversify its top line.
- Innovation and curiosity – these traits are essential to stay ahead of the competition and enable CoinShares to build the future of investing through its products.
- CoinShares Asset Management – 2021 saw the establishment of CoinShares Physical, which provided the platform to launch new products as well as the launch of staking rewards. Throughout 2022 CoinShares plans to continue launching new, regulated and innovative products that address investor needs and allow them to participate in the growth of digital assets.
- CoinShares Consumer Solutions – With the acquisition of Napoleon complete, CoinShares can develop its Consumer Solutions business by relaunching NapBots in 2022 to expand its customer base from France to Europe and develop a range of products for all investors in digital assets.
- FlowBank – CoinShares raised its stake in FlowBank, a Swiss neobank targeting non-professional investors, to 29.3% in 2021. FlowBank now uses CoinShares’ proprietary trading platform, Galata, to offer its users digital assets exposure and having access to its FINMA banking license provides CoinShares with a strategic vehicle to accelerate its development.
- DeFi – In the coming weeks, CoinShares Consumer Solutions will launch a decentralised platform, in a few clicks users will be able to delegate their crypto into vaults carrying specific strategies, and users will share the vaults performance fees with the other token holders.
- Galata – Galata is CoinShares’ proprietary institutional-grade, first class, digital asset native trading platform and is a key component in deploying the company’s strategy, accelerating its product development plans and achieving its financial ambitions. Galata acts as a bridge between traditional finance and decentralised finance and it links different exchange platforms and different services that are today crucial to the success of CoinShares’ Capital Markets and Asset Management businesses. CoinShares aims to transform Galata into a marketable trading platform in 2022 through a Platform as a Service revenue model aimed at any financial services firms who want exposure to digital assets for themselves or their clients.
- Listing – CoinShares is progressing plans to uplist from Stockholm Nasdaq First North this year to the venue with the highest level of regulatory standards, Nasdaq Stockholm Main Market, which will allow a deeper pool of investors to access CoinShares.
Commenting on the year ahead, Jean-Marie Mognetti, Chief Executive Officer of CoinShares said:
“Our mission is to build the future of investing by providing the premier investment technology for the digital asset sector. We are continuing to invest in our long-term future and 2022 will be a year of further change for us as we transform into a product-centric organisation with a customer-centric culture.”
CoinShares is Europe’s largest and longest standing digital asset investment firm, managing billions of dollars of assets on behalf of its client base. The Group is focused on expanding investor access to the digital asset ecosystem by pioneering new financial products and services that seek to provide trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under the ticker CS and the OTCQX under the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
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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.