CoinShares International: Both profit engines delivering solid results - Edison

CoinShares International (CS) maintains its stable development in 2023, posting an adjusted EBITDA of £9.9m in Q323 (£6.4m in Q322). This is despite the £3.0m loss on principal investments, arising primarily from provisions recognised by FlowBank (in which CS holds a 28.3% stake). Both the asset management business and capital markets activities were solid contributors to the Q323 results, with the former posting £10.7m in fees and the latter £9.3m in gains and income. In September 2023, CS officially launched its Hedge Fund Solutions (active asset management business), with its initial strategies active since the end of Q323 and discussions with potential investors across the globe ongoing.

Länk till analysen i sin helhet: https://www.edisoninvestmentresearch.com/research/company/coinshares-international

Länk till analysen i sin helhet: https://www.edisoninvestmentresearch.com/research/report/coinshares-international246280/preview