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7/27/2019 (9)Q1 .pdf
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Results for the1Results for the1stst quarter of 2009quarter of 2009Conference Call, 29Conference Call, 29ththApril 2009April 2009
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Business Development
Trends for the 2nd Quarter
New Services
Interim Statement of Financial Positions
Key Figures
AgendaAgenda
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Business DevelopmentBusiness Development
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Trading Volumes in 1Trading Volumes in 1stst Quarter 2009Quarter 2009
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
0
2'000
4'000
6'000
8'000
10'000
12'000
Q1-03
Q2-03
Q3-03
Q4-03
Q1-04
Q2-04
Q3-04
Q4-04
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
darts tpcpy
Persisting weak trading volumes
Tpcpy = 15.5
Darts = 7385
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Commission, Interest & Trading IncomeCommission, Interest & Trading Income
Moderate drop in commission revenues due to client growth
Sharp decrease in interest revenues
Massive increase in revenues from trading operations (eForex)
0
5'000
10'000
15'000
20'000
25'000
30'000
35'000
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Trading Interest Commission
CHF '000
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Client GrowthClient Growth
Strong client growth
5617 client increase in 1st quarter 2009
Ongoing success story of Swissquote despite financial crisis
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Assets under Custody are recovering in 1Assets under Custody are recovering in 1stst quarter 2009quarter 2009
Inflow of new funds of CHF 290.6 millions in 1st quarter
Market recovery and inflow of new assets were able to stop
assets erosion
CHF 4,6 billion assets per 31st March 2009
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Costs and Revenues per Client and QuarterCosts and Revenues per Client and Quarter
Financial crisis is reducing client revenues on the short term
Cost control and improved efficiency since 2003 is securing a
solid profit in every market situation
Ongoing investments in marketing and new services
0
50100
150
200
250
300350
400
450
Q1-03
Q2-03
Q3-03
Q4-03
Q1-04
Q2-04
Q3-04
Q4-04
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Costs Marketing Revenues
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Quarterly Revenue ChartQuarterly Revenue Chart
0
2'500
5'0007'500
10'000
12'500
15'000
17'500
20'000
22'50025'000
27'500
30'000
32'500
35'000
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Operating Profit
Quarterly Revenues
Revenue drop of 20.8% compared to 4th quarter 2008
Operating profit of 9.6 million
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Revenue MarginsRevenue Margins
Stable revenue margins over 2%
Immediate revenue increase in case of market recovery
0
50
100
150
200
250
300
0
1'000
2'000
3'000
4'000
5'000
6'000
7'000
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Assets under Custody Asset Margin
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Quarterly Profit ChartQuarterly Profit Chart
Solid Earnings of 7.5 million in 1st quarter
Profit margin of 41.2% (32% net profit margin)
0%
10%
20%
30%
40%
50%
60%
0
2'0004'000
6'000
8'000
10'000
12'000
14'000
16'000
18'000
Q1-05
Q2-05
Q3-05
Q4-05
Q1-06
Q2-06
Q3-06
Q4-06
Q1-07
Q2-07
Q3-07
Q4-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Operating Profit
Net Profit
OP Margin
CHF '000
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Q1Q1--20082008
--15.4%15.4%
--35.1%35.1%
+28.4%+28.4%
--13.3%13.3%
--4.3m4.3m
--4.0m4.0m
+27+27792792
--710.2710.2
+7.3%+7.3%+9.9m+9.9m
23.3m23.3m
7.5m7.5m
125125486486
44643m643m
145.2m145.2m
--34.4%34.4%--5.0m5.0m9.6m9.6m
Q1Q1--20092009
Key Figures (compared with previous year)Key Figures (compared with previous year)
RevenuesRevenues
Net profitNet profit
ClientsClients
Assets u. custodyAssets u. custody
EquityEquity
Operating profitOperating profit
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Q4Q4--20082008
--20.8%20.8%
--14.6%14.6%
+4.7%+4.7%
+2.3%+2.3%
--6.1m6.1m
--1.3m1.3m
+5+5617617
+104.1+104.1
+4.4%+4.4%+6.1m+6.1m
23.3m23.3m
7.5m7.5m
125125486486
44643m643m
145.2m145.2m
--34.5%34.5%--5.0m5.0m9.6m9.6m
Q1Q1--20092009
Key Figures (compared with previous quarter)Key Figures (compared with previous quarter)
RevenuesRevenues
Net profitNet profit
ClientsClients
Assets u. custodyAssets u. custody
EquityEquity
Operating profitOperating profit
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Trends for the 2Trends for the 2ndnd QuarterQuarter
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Client Growth on TargetClient Growth on Target
0
20
40
60
80
100
120
140
160
180
200220
240
104000
106000
108000
110000
112000
114000
116000
118000
120000
122000
124000126000
128000
01.juil.
01.aot
01.sept.
01.oct.
01.nov.
01.d
c.
01.janv.
01.f
vr.
01.mars
01.avr.
01.mai
01.juin
Total Accounts [T,C,M] Target Requests
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0
5
10
15
20
25
30
35
40
45
50
01.juil.
01.aot
01.sept.
01.oct.
01.nov.
01.d
c.
01.janv.
01.f
vr.
01.mars
01.avr.
01.mai
01.juin
Trades per client per year
Better Trading Activity in AprilBetter Trading Activity in April
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4'250
4'500
4'750
5'000
5'250
5'500
5'750
6'000
6'250
-800
-600
-400
-200
0
200
400
600
mars.08
avr..08
mai.08
juin.08
juil..
08
aot.08
sept..08
oct..08
nov..
08
dc..
08
janv..
09
fvr..09
mars.09
avr..09
mai.09
juin.09
Net Assets Inflow" Assets Change Total Assets
Market Recovery pushes Assets over 5 billionMarket Recovery pushes Assets over 5 billion
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New ServicesNew Services
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Saving AccountSaving Account
Since 1stApril best offering on the
Swiss market with 1.8% interest rate
Already more than 120 million
saving assets 3335 clients per 31st March 2009
Strong increase of saving assets
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SwissquoteSwissquote Quant Swiss Equities FundQuant Swiss Equities Fund
Successful start with ourin-house Quant fund
Over performing the SPI
with 4% on average since
1st January 2009
More developments in
the ePrivate banking
sector to come
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New features on the trading PlatformNew features on the trading Platform
Redesigned real timeaccount with many
additional features
Cap at CHF 100 for the
custody fees
Swissquote ranked most
attractive online bank in
the last KGELD price
survey
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Interim Statement of Financial PositionsInterim Statement of Financial Positions
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Balance Sheet per 31Balance Sheet per 31stst March 2009March 2009
[CHF m] 31 March 2009 31.12.2008 Change %
ASSETS
Deposit at central bank 641.1 293.2 347.9 54.3%
Loans and advances to banks 491.6 765.7 274.1- -55.8%
Loans to customers 70.1 71.7 (1.6) -2.3%
Investment securities 235.1 165.9 69.2 29.4%
Property & systems 31.6 31.3 0.3 0.9%
Other assets 31.9 18.3 13.6 42.6%
Total assets 1'501.4 1'346.1 155.3 10.3%
LIABILITIES AND EQUITY
LiabilitiesDue to customers 1'312.9 1'166.3 146.6 11.2%
Other liabilities 43.3 40.7 2.6 6.0%
Total liabilities 1'356.2 1'207.0 149.2 11.0%
Equity
Ordinary shares 2.9 2.9 - 0.0%
Reserves & retained earnings 167.8 160.8 7.0 4.2%
Treasury shares (25.5) (24.6) (0.9) 3.5%
Total equity 145.2 139.1 6.1 4.2%
Total liabilities and equity 1'501.4 1'346.1 155.3 10.3%
31 December
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Balance Sheet per 31Balance Sheet per 31stst March 2009March 2009
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Structure of Assets and LiabilitiesStructure of Assets and Liabilities
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KeyKey FiguresFigures
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