SWISSQUOTE: Profit of +189.1% realized!

SWISSQUOTE, the Swiss leader in online banking, published its 2023 financial statements, which only partially met the high expectations. However, our sale at a price target of CHF 245 was realized on 14 March. On December 23, 2020, we bought the share at CHF 86.80. Now we can - hopefully with you - look forward to a "fat" share price gain of +182.3%! With the dividend payments, we even achieve a total gain of +189.1%. SWISSQUOTE had already announced key figures in mid-January and investors were already enthusiastic back then. The share subsequently advanced by a further +18% in 2024, after gaining over +50% last year. About the annual report: SWISSQUOTE earned significantly more last year, setting new records. Customer assets also rose to a record high. The online bank increased net income by +30.2% to CHF 531.4 million in 2023, mainly due to continued growth in net interest income to CHF 213.1 million. Net profit increased by +38% year-on-year to CHF 218 million, which is slightly less than the market expectation of CHF 222 million. Shareholders will now enjoy a dividend of CHF 4.30 per share after CHF 2.20 for 2022, which is significantly higher than the market estimate of CHF 3.67. The promising crypto business was still in sharp decline in 2023.

SWISSQUOTE has a positive outlook for 2024 and expects net income of CHF 595 million and a pre-tax profit of CHF 300 million. The medium-term target of achieving a pre-tax profit of CHF 350 million by 2025 has also been confirmed. SWISSQUOTE already noted in 4Q23 that optimism had increased and the bank is said to have made a good start to the new year. However, the share may have already anticipated a lot with its strong price performance! Is it therefore now vulnerable to price setbacks? Our target has been reached with the final profit posted!