Coinsilium Group (COIN) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 declined sharply to £3,000 from £56,417 in H1 2023, but profit swung to £29,545 from a loss of £104,247 year-over-year.

• Net fair value gain on financial assets rose to £336,160, mainly due to revaluation of Coindash holdings.

• Cash and cash equivalents stood at £429,581 at period end, with other current assets (cryptocurrencies, tokens, rights) at £1,061,520.

• Strategic investments and advisory activities expanded, including new agreements with LC Lite (Nexade), Liteflow, and Otomato.

• Placing of 18.9m new shares raised £472,500 to support strategic investments and working capital.

Financial highlights

• Profit per share was 0.01p, compared to a loss per share of 0.06p in H1 2023.

• Financial assets at fair value through profit or loss increased to £2.5m from £2.16m at FY 2023.

• Cash and cash equivalents increased to £429,581 from £283,757 at 31 December 2023.

• Administrative expenses rose to £489,227 (H1 2023: £423,401).

• No dividends were paid or recommended during the period.

Outlook and guidance

• Anticipates continued positive momentum in crypto markets, supported by a recent US Fed rate cut and increased liquidity.

• Expects the Yellow token launch in Q4 2024 to be a key liquidity event and value driver.

• Strategic positioning in advisory and investment activities aims to capitalize on the expected Web3 bull market.