Leonteq AG (SIX: LEON) announced today that it expects to generate significant revenue growth on the back of strong net trading results and to report record Group net profits of more than CHF 110 million for the first half of 2022.
Following a very strong start to 2022, Leonteq continued to focus on disciplined risk management and saw a very substantial increase in net trading results in the year-to-date compared to the same period in the prior year. This reflects unprecedented market conditions characterised by higher levels of overall market volatility, including exceptional share price fluctuations of selected large-cap companies around their fourth quarter 2021 as well as their first quarter 2022 earnings announcements.
During this time of an overall more challenging market environment for investors, Leonteq registered subdued levels of client activity in most of its regions which notably reduced net fee income as compared to the same period in 2021.
Furthermore, on the back of the year-to-date trading result, income taxes for the Group are expected to significantly exceed prior year levels.
As a result of these factors, Leonteq expects to generate significant growth in its total operating income and to report record Group net profits of more than CHF 110 million for the first half of 2022, an increase of more than 50% compared to CHF 74.4 million for the same period last year.
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LEONTEQLeonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries, through which it serves over 50 markets. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON).
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This press release may contain specific forward-looking statements, e.g. statements including terms like “believe“, “assume“, “expect“, "target" “forecast“, “project“, “may“, “could“, “might“, “will“ or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. In addition, currently, it is very difficult to provide a meaningful prediction on how the governmental actions in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) and other COVID-19 related factors will affect Leonteq's operations and how long such measures will remain in place. The COVID-19 outbreak has caused, and may continue to cause, uncertainty, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the COVID-19 outbreak on the general economic environment in the markets in which Leonteq operates remain uncertain and could be significant. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.