A strong start to the year followed by market volatility could lead to record results for the derivatives specialist in the first half of 2022.
Zurich-based Leonteq expects to generate significant growth in its total operating income as well as record net profits of more than 110 million Swiss francs ($115 million) for the first half of 2022, an increase of more than 50 percent for the same period last year, it said in a statement Friday.
Less Net Fee Income
Although client demand was lower than in the same period a year before, the structured products specialist’s net trading results came in higher, due to «higher levels of overall market volatility,» it said.
«Exceptional share price fluctuations of selected large-cap companies around their fourth quarter of 2021 as well as their first-quarter 2022 earnings announcements,» also played into this scenario.
Based on Leonteq’s year-to-date trading result, income taxes are expected to significantly exceed prior-year levels, it added.
Leonteq will publish its half-year results on July 21.
