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(AWP) The Leonteq Financial Firm ( LEON 61.8 2.15% ) benefited from increased demand for structured products in the first half and has significantly improved its results, Under the new leadership, the company wants to promote growth in the coming years and announces a capital increase. Shareholders need to prepare for the long term and no payments are expected in the near future.
In total, operating profit in the first half increased 36% to CHF 145.7 million, as reported on Thursday. Figures can be taken. Net profit for the year was CHF 40.1 million, slightly higher than the previous year 's 1.2 million.
The company also grew 3% to 95.7 million euros in the first half reduced. While staff costs continued to rise thanks to variable pay (+ 7%), the company was able to reduce its operating expenses by 6%, reflecting a "sustained cost discipline" .
Higher transaction volume
In the first half of 2015, 15,746 structured products (+ 24%) increased the volume of transactions by 23% to 15.9 billion francs, mainly due to good results of new issuing partners Crédit Agricole CIB and Standard Chartered ( STAN 677.4 1.12% ) Bank, but also the volume of own Leonteq products increased by 17%.
With the results, Leonteq has analysts' expectations clearly outperformed in terms of profits and profits. These had previously estimated net profit of CHF 29.3 million (AWP consensus) and operating profit of CHF 120.2 million. 8890000.
Strengthening the Capital Base
The Company of New CEO Lukas Ruflin now wants to position itself for new growth and sets new financial goals up to the end of the year. Year 2020 defined. Until then, Leonteq intends to increase its operating result to around CHF 300 million, while pursuing rigorous cost management and achieving a cost / income ratio of less than 70% .
It can be assumed that the company With structured products to develop a volume-driven business with new decreasing margins, it continues in the message. Overall, you want to further reduce complexity and increase scalability. At the same time, it is necessary to invest in growth and strengthen the capital base.
Leonteq announces a capital increase for this last objective, which should result in net proceeds of approximately CHF 118 million. All shareholders must receive a subscription right for the capital increase. The main shareholders of Raiffeisen Switzerland, Lukas Ruflin and Sandro Dorigo were committed to exercise all the subscription rights. For the 2018 fiscal year and "in the foreseeable future", the company does not expect dividends or other dividends.
Click here for the full history of Leonteq. «
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