ONE swiss bank AG – H1 2022 financial results

July 13, 2022 – Press release

Ad hoc announcement pursuant to Article 53 of the Listing Rules of SIX Exchange Regulation

ONE Swiss Bank Ltd
H1 2022 financial results (true & fair view)

The financial statements for the first half of 2022 can be downloaded here.
All documents are available on oneswissbank.com under “Investor relations”.

“A year ago, we completed a promising merger and were ultimately To see the light at end of the pandemic tunnel. Alongside this positive outlook, we have launched several initiatives to harness new business opportunities. But since the beginning of 2022, We have meet various headthe windsfrom increase in new COVID variantssequel worldwide supply-chain disturbances and inflation levels not seen for decades to sudden and unprecedented rate hikes by central banks (including the SNB thumbs up in his negative rate close at zero) and, last but certainly not least, the Ukraine invasion. Financial markets corrected sharply in the period considered, with gaps witnessed in most asset classes. Sshelters were in short supply.

Despite these great complicationswe are happy to announce that our financial the turnaround is on to plan and on time. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled a encouraging CHF 1.2 million in the first half of 2022, net of onenot UNrealized loss of CHF 771 thousand on our own investments. Excluding this unrealized loss, we would have reached our EBITDA target on the strength of a 15% cost reduction (compared to the same period in 2021)who lowered the cost/revenue ratio at 90%. After amortization and depreciation greater than CHF 2 million, we ended H1 2022 with a negative net result of CHF -847 thousand (versus CHF -2.78 million in H1 2021). Our assets under management (At M) were impacted by market failures and the strong swiss franc, leading to a decrease in CHF 361 million. Total market performance and currency effect has been CHF -437 million. The difference follows Net New Money (NNM), made up of positive entries in the Asset Management division. Like a June 30, 2021, regulatory capital has been CHF 1.7 million upper.

Thanks to prudent management decisions, we were able to minimize the negative market impact turmoil and meet our initial expectations for H1 2022, except in terms of At M. H2 2022 is shaping up to be a unpredictable period, and U.S will be continue to join at a careful approach keep costs in check and to chase our strategy of harnessing new business opportunities.

Gregory PennonCEO, ONE Swiss Bank

H1 2022 HIGHLIGHTS

6 TO 12 MONTH OUTLOOK

H1 2022 KEY FIGURES (CHF)

S1 2022 KEY FINANCE

Operating result (EBITDA)

H1 2021 S2 2021 H1 2022
-144 thousand 593 thousand 1.27 million

The operating result (EBITDA) amounts to CHF 1.27 million (compared to CHF -0.144 million in H1 2021). EBIDTA more than doubled compared to H2 2021 (+115%).

Cost/revenue ratio

H1 2021 S2 2021 H1 2022
101% 96% 90%

In the first half of 2022, revenues reached CHF 12.2 million and operating expenses (excluding depreciation) amounted to CHF 10.9 million, leading to a 90% improvement in the cost/income ratio (compared to 96% in S2 2021).
Operating expenses in H2 2022 decreased by 23% compared to H1 2021. The Bank’s workforce as of June 30, 2022, expressed in full-time positions, is 67.8 (compared to 74.1 as of June 30, 2022). 2021).

Net profit

S1 2021 S2 2021 H1 2022
-2.78 million -1.98 million -0.84 million

The net loss of CHF -0.84 million in the first half of 2022 is mainly due to an unrealized loss on financial investments (CHF -771 thousand, presented under “Other ordinary expenses”) and amortizations exceeding CHF 2 million.

Balance sheet

As of June 30, 2022, the Bank’s total assets amounted to CHF 784.6 million compared to CHF 870.1 million as of December 31, 2021. This is mainly due to a decrease in liquidities (customer deposits, financial investments and receivables from customers).

Customer assets (At M)

H1 2021 S2 2021 H1 2022
5,297 million 5,054 million 4,693 million

Total client assets held by the Bank as at 30 June 2022 amounted to CHF 4,693 million compared to CHF 5,054 million as at 31 December 2021. The change in assets under management of -361 million CHF mainly results from negative market and currency effects of CHF 5,054 million. -437 million. This was partially offset by Net New Money of CHF 93 million in the Asset Management business line.

Regulatory Fairness

H1 2021 S2 2021 H1 2022
30.7 million
14.54%
31.1 million
16.95%
32.4 million
16.53%

The Bank’s total regulatory capital amounted to CHF 32.4 million as of June 30, 2022 and the capital ratio was 16.53%, against a minimum regulatory target of 10.5%.

For more information, please contact:

Julien Delecraz
Marketing & Communications Manager
[email protected]
+41 58 300 78 13

ONE Swiss Bank Ltd (SIX Swiss Stock Exchange: ONE)
ONE swiss bank is a Swiss private bank listed on the SIX Swiss Stock Exchange with offices in Geneva, Lugano, Zurich and a subsidiary in Dubai. It offers wealth and asset management services to private and institutional clients as well as financial intermediaries.
oneswissbank.com

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