EUWAX AG

Latest Results (13.06.2024):

Revenue and Earnings

In the first half of 2023, EUWAX AG reported a slight increase in its net income before allocation to the fund for general banking risks, reaching €14.1 million compared to €13.8 million in the previous year. However, other operating income decreased due to the ongoing challenging market environment in the cryptocurrency sector, totaling €8.8 million compared to €10.9 million last year.

Profit and Earnings Per Share

EUWAX AG's profit after taxes for the first half of 2023 was €4.3 million, up from €3.0 million in the previous year. This improvement was primarily due to reduced overall expenses. Earnings per share for the period were €0.83, compared to €0.58 in the previous year.

Operational Performance

Despite a challenging market, EUWAX AG managed to slightly increase the net result from its trading portfolio. However, the company experienced a decline in trading volumes in both traditional securities and cryptocurrencies, leading to a decrease in commission income by €0.6 million to €2.9 million.

Financial Position

As of June 30, 2023, EUWAX AG's total assets amounted to €118.5 million, an increase from €114.2 million at the end of 2022. The company's equity ratio improved slightly, with equity capital representing 74% of the total balance sheet, up from 73% at the end of 2022.

Outlook and Risk Management

Looking ahead for the remainder of 2023, EUWAX AG's management remains cautiously optimistic, maintaining a satisfactory assessment of the company's earnings, financial, and asset situation despite market uncertainties. The company continues to closely monitor developments in the cryptocurrency market and has enhanced its risk monitoring and mitigation strategies following the sector's recent challenges.