Q1 adj. EBIT of GBP 34m, above ABGSCe at GBP 20m
CoinShares reported adj. Revenues of GBP 44m, 43% above ABGSCe. The revenue beat was mainly driven by the Capital Markets segment, which was supported by high market activity and the Principal Investments segment, which reported significant gains. The revenue from the asset management segment was somewhat lower than expected at 4% below ABGSCe. Costs were in line with expectations which lead to an adj. EBIT of GBP 34m, 66% above ABGSCe, highlighting the scalability in CoinShares' business model.
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