- ISIN: CH0190891181
- Land: Schweiz
Nachricht vom 22.07.2021 | 07:00
Press release: Leonteq publishes half-year 2021 results
Leonteq AG / Key word(s): Half Year Results
PRESS RELEASE | LEONTEQ PUBLISHES HALF-YEAR 2021 RESULTS
Zurich, 22 July 2021 | Ad hoc announcement pursuant to Art. 53 LR
Leonteq AG (SIX: LEON) achieved record revenues and profits in the first half of 2021, resulting from strong client activity, disciplined risk management and the focused execution of its strategy.
Financial highlights in H1 2021
Further improvement in business diversification and revenue quality in H1 2021
Continued focused execution of strategy
STRONG PERFORMANCE IN THE FIRST HALF OF 2021
As a result, Leonteq generated strong net fee income of CHF 170.0 million in the first half of 2021, following the exceptionally high figure of CHF 213.0 million in the prior-year period, which was characterised by Covid-19-related market developments. At the same time, Leonteq continued to focus on disciplined risk management and recorded a positive net trading result of CHF 35.4 million compared to
Total operating expenses rose to CHF 125.2 million in the first half of 2021, an increase of 27% year-on-year, reflecting planned investments in key strategic initiatives, a performance-driven increase in variable costs and additional provisions for legal cases.
In line with the guidance provided on 15 June 2021, Leonteq reported record Group net profit of CHF 74.4 million in the first half of 2021, compared to CHF 5.5 million in the prior-year period. Shareholders' equity amounted to CHF 721.4 million as of 30 June 2021, compared to CHF 647.5 million as of 31 December 2020. Together with deferred fee income of CHF 78.8 million, Leonteq's capital base totalled CHF 800.2 million as of 30 June 2021 and the company thus reached its capital base target (in the area of CHF 800 million) six months ahead of the guidance provided on 11 February 2021.
Lukas Ruflin, Chief Executive Officer of Leonteq, stated: "Our first-half 2021 results demonstrate the good financial and strategic progress that Leonteq has made across many fronts: We achieved strong fee income, generated record net profit for the period, reached our target capital base ahead of schedule and are strongly capitalised. We continued to diversify our business across products, issuers and underlyings and have improved the quality of our revenues. At the same time, we further innovated our digital offering for our partners and clients and expanded our ecosystem for investment solutions."
LEONTEQ PRODUCTS ACHIEVE NEW RECORD VOLUMES
In its business with platform partners, outstanding volumes in platform partners' products increased by 4% to CHF 9.6 billion as of end-June 2021, and turnover generated with platform partners decreased to CHF 8.1 billion in the first half of 2021 compared to the very strong performance of CHF 9.2 billion in the prior-year period (up 45% from H2 2020). Margins continued to normalise to 96 basis points compared to an exceptionally high level of 130 basis points in the first half of 2020 (104 basis points in H2 2020).
The Insurance & Wealth Planning Solutions business line saw the number of outstanding policies serviced on the platform increase by 2% to 52,417 policies as of 30 June 2021. Total operating income decreased to CHF 8.8 million in the first half of 2021 from CHF 24.7 million in the prior-year period (flat vs H2 2020), primarily reflecting the continued challenging long-term interest rate environment and pandemic-related effects impacting the in-person sales activities of third-party distribution channels.
Operations in Europe generated net fee income of CHF 85.8 million, representing the second-strongest result in Leonteq's history. Compared to the very strong result for the prior-year period, net fee income decreased by 24% in the first half of 2021 (up 43% from H2 2020). Leonteq made particularly good progress in Italy, where it established a presence in the fourth quarter of 2020, and it strengthened its sales coverage for the Nordic region.
In Asia (including the Middle East), Leonteq implemented key initiatives by increasing the range of products issued by Standard Chartered and improving its offering of actively managed certificates (AMCs) for Asian clients. Leonteq also expanded its regional footprint by opening a new office in Dubai. As a result, the Asia region (including the Middle East) saw a 36% increase in net fee income year-on-year to CHF 24.2 million (up 58% from H2 2020).
Leonteq also made further progress in establishing a service centre in Portugal and currently has 36 employees working in Lisbon. The company expects to receive regulatory approvals and open its own office in the second half of 2021.
FOCUSED EXECUTION OF STRATEGY
At the same time, Leonteq remains mindful of potential challenges in a market environment characterised by record prices in equity markets, a potential increase in inflationary pressures and pandemic-related measures that are still in place. In this context, Leonteq expects its performance to normalise in the second half of 2021, which is usually characterised by a slower summer period followed by a pickup in client demand from September onwards. It is targeting Group net profit of more than CHF 100 million for the full-year 2021.
Leonteq is reaffirming the dividend policy it communicated on 11 February 2021: For the financial year 2021, Leonteq expects to propose a shareholder distribution of more than CHF 0.75 per share. From the financial year 2022 onwards, Leonteq intends to move to a progressive dividend policy with a payout ratio of more than 50% of net profits.
Lukas Ruflin stated: "We have demonstrated that the diligent and focused execution of our strategy over the past three years is starting to yield attractive investment returns. We will continue expanding our product offering and issuer universe, and we will further accelerate our digital solutions. With the ambition to become a leading ESG provider for structured investment products, we are committed to offering our clients and partners innovative solutions in the area of responsible investing. We are acting from a position of strength and are investing in our business to seize the opportunities emerging in the changed operating environment, and we are well positioned to deliver future growth."
LEONTEQ HALF-YEAR 2021 RESULTS PRESS AND ANALYST CONFERENCE CALL
If you wish to participate, please use the following numbers:
Please dial in 10-15 minutes before the start of the presentation and ask for 'Leonteq half-year 2021 results'.
This press release, the half-year 2021 results presentation and the half-year 2021 report are available at: http://www.leonteq.com/halfyearresults
A digital playback of the telephone conference will be available approximately one hour after the conference call and can be accessed for one month at: http://www.leonteq.com/halfyearresults
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.
End of ad hoc announcement
Interview im Fokus
„Eine Investition in Mutares lohnt sich“
Mutares ist ein europaweit führender Private-Equity-Investor, der sich auf Sondersituationen wie Abspaltungen von großen Konzernen oder Turnaround- und Nachfolgesituationen spezialisiert hat. Ziel ist es, mit den Investments einen Return auf das eingesetzte Kapital von 7 bis 10 zu erzielen. Mit der jüngsten Mittelfristprognose hat der Münchner Finanzinvestor auf Basis von 5 Mrd. Euro Konzernumsatz eine Nettorendite für die börsennotierte Holding von 1,8 bis 2,2 % in Aussicht gestellt. In der Mitte der Zielspanne wird somit ein Nettogewinn von circa 100 Mio. Euro anvisiert. Hauck & Aufhäuser hat in der jüngsten Analyse ein Buy-Rating mit Kursziel für Mutares von 37,50 Euro ausgegeben.
Event im Fokus
10. Juni 2021:Fachkonferenz Immobilien
14./15. Juli 2021: Fachkonferenzen Beteiligungsgesellschaften & Consumer/Leisure
13./14. Oktober 2021: Fachkonferenzen Finanzdienstleistungen/Technologie
10./11. November 2021: Fachkonferenzen Software/IT & Branchenmix
„Je nach aktueller Covid-19 Situation und den bestehenden Vorschriften für Versammlungen entscheidet sich ca. 5 Wochen vor dem Termin, in welcher Form die Konferenzen stattfinden.“
Kaufen: Aspermont Limited hat Turnaround abgeschlossen
Der AKTIONÄR News
28. September 16:50 Toxischer Cocktail: DAX mit rabenschwarzem Tag – Adidas, Infineon, ...
28. September 16:09 Tencent: BlackRock-Fonds verkauft alle Aktien
28. September 15:49 Aktien, Bitcoin, Gold: Überall Verluste – böser Vorwurf gegen Fed-Chef
28. September 15:22 Amazon hat es mit "New World" endlich geschafft
28. September 14:59 BioNTech und Moderna im Sturzflug – wichtige Marken gerissen
News im Fokus
Vonovia SE: Vonovia on the election of the Berlin House of Representatives and the referendum to expropriate Deutsche Wohnen & Co.: Berlin needs a new way of working together on housing
27. September 2021, 11:07
Cantor Global Healthcare Conference Fireside Chat
30. September 2021
Original-Research: Schloss Wachenheim AG (von First Berlin Equity Research GmbH): Kaufen
28. September 2021