Full Year 2024 Leonteq AG Earnings Call Transcript
Key Points
- Leonteq AG (XSWX:LEON) reported a 30% increase in overall turnover compared to 2023, reaching almost CHF 28 billion.
- The company processed over 275,000 client transactions in 2024, marking a 40% increase from the previous year.
- Leonteq's shareholders' equity increased by 3% to CHF 804 million, indicating a strong capital position.
- Revenues from new business initiatives grew by 22% to CHF 131 million, contributing close to 60% of the group economic revenues.
- The company achieved a market share of 30% in yield enhancement products, securing the number one position in the market.
- Profit before taxes dropped significantly to CHF 7.9 million in 2024 from CHF 18.4 million in 2023.
- Group net profit decreased to CHF 5.8 million in 2024 compared to CHF 20.6 million the previous year.
- The net trading result fell to CHF 21.5 million from CHF 37 million in 2023, impacted by low market volatility.
- Margins reduced from 90 basis points in 2023 to 70 basis points in 2024 due to lower market volatility and competitive pressures.
- FINMA concluded investigations into the distribution of financial products, identifying certain shortcomings and ordering organizational measures for remediation.
Good morning, everyone and welcome to the press conference call of Leonteq full year 2024 results. The presentation material as well as the annual report can be found in the investor relations section our website.
In the same section we have also provided you a time series data Excel file and the comparison of the analyst consensus versus our actual reported results.
Here with me today are Chief Executive Officer Lukas Ruflin and our Chief Financial Officer Hans Widler.
We will start the presentation with some key takeaways from 2024 and Hans will then discuss the financial performance of last year and give you insights into the new regulatory regime.
Lucas will then close the presentation with an outlook before we open up for questions.
Thank you, Dominik and also from my side. Good morning and a warm welcome to you dear, shareholders, analysts and media representatives for now, I would like to start
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