Following Swissquote’s H1 21 earnings release, we have raised our EPS for the coming years. We have only slightly modified our numbers for 2021 as these had already been updated in June following Swissquote’s positive profit warning. Going into 2022 and 2023, the increase is much higher as we are confident Swissquote will manage to keep decent growth despite an exceptionnal current year. Management is confident both the top-line and pre-tax profit will grow in 2022 driven by crypto-currencies trading (thanks to volatility and the institutionalisation of that asset class) as well as the buoyant ongoing opening in new accounts.
