Leonteq announces profit estimate for 2018
Leonteq AG (SIX: LEON), an independent expert of structured investment products and long-term savings and retirement solutions, announced today that it expects to generate a significantly increased pre-tax profit in the region of CHF 90 million for the full year 2018. This reflects an expected year-on-year increase in revenues and slightly higher costs compared to previous guidance.
In the second half of 2018 to date, Leonteq recorded a slight decrease in net fee income following lower client activity, compared to the same period of last year. At the same time, net trading result increased significantly on the back of higher market volatility in recent months.
Total operating expenses for the full year 2018 are expected to be slightly above the cost guidance of CHF 185 million communicated with the first half-year results.
Overall, pre-tax profit is expected to be in the region of CHF 90 million for the full year 2018, compared to CHF 23.3 million in 2017. Leonteq’s financial targets for 2020 remain unchanged. Leonteq will publish its audited full-year 2018 results on 7 February 2019.