Swissquote shares are down ~43% year-to-date, implying a large profit warning (H1 22 due 10 August). However, we believe fears of a significant warning are overdone and expect the company to lower its 2022 pre-tax profit guidance by 17% to CHF185m (CHF225m previously). We forecast a drop in trading activities (crypto, securities) to be partly compensated for by: a) the company''s deposit business in a rising yield environment supporting net interest income in H2; b) a positive margin mix as well ....
01 Aug 2022
Profit warning ahead - but largely priced in?
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Profit warning ahead - but largely priced in?
Swissquote Group Holding Ltd. (SQN:SWX) | 0 0 0.0%
- Published:
01 Aug 2022 -
Author:
Blieffert Christoph CB -
Pages:
9
Swissquote shares are down ~43% year-to-date, implying a large profit warning (H1 22 due 10 August). However, we believe fears of a significant warning are overdone and expect the company to lower its 2022 pre-tax profit guidance by 17% to CHF185m (CHF225m previously). We forecast a drop in trading activities (crypto, securities) to be partly compensated for by: a) the company''s deposit business in a rising yield environment supporting net interest income in H2; b) a positive margin mix as well ....