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$ 8 . LEONTEQ PRESS RELEASE LEONTEQ PUBLISHES SECOND HALF AND FULL - YEAR 2020 RESULTS Zurich , 11 February 2021 Leonteq AG ( SIX : LEON ) achieved significant strategic progress in 2020 , improved its profitability in the second half of the year , reflecting record revenues in the fourth quarter . Financial highlights H2 2020 / FY 2020 Net profit increased by 6 % to CHF 34.4 million in H2 2020 compared to CHF 32.5 million in H2 2019 ; for the full year net profit came in at CHF 39.9 million in 2020 ( CHF 62.7 million in 2019 ) Strong capital base maintained with total shareholders ' equity of CHF 647.5 million and deferred fee income of CHF 75.1 million at end - 2020 Distribution to shareholders of CHF 0.75 per share proposed for the financial year 2020 , up 50 % from CHF 0.50 per share for 2019 Continued focused execution of strategy with significant progress in 2020 Smart Hedging Issuance Platform established ; 7 leading investment banks connected and contribution of balance sheet light turnover increased by 6 percentage points to 9 % in H2 2020 LynQs , Leonteq's one - stop shop for structured products , taking shape with new features and functionalities ● 4 new cooperation agreements with white - labelling issuers signed Expansion of product offering through AMC and significant growth in products on crypto currencies Outlook Strong start to 2021 Capital base targeted to reach the CHF 800 million area by end - 2021 following which Leonteq will transition from conservative to progressive dividend policy Continued investments in key initiatives and total operating expenses of approximately CHF 210 million expected for 2021 Changes to the Executive Committee Jochen Kühn will step down from his role as member of Leonteq's Executive Committee and Head of Insurance & Wealth Planning Solutions Lukas Ruflin , Chief Executive Officer of Leonteq , stated : " 2020 was a pivotal year in which we achieved significant progress against our strategy despite a global pandemic and unprecedent market turmoil . It was also a year in which the robustness of Leonteq's service and technology platform as well as the solidity of our client franchise was proven throughout the period . On the back of an improved profitability in the second half of 2020 and a record fourth quarter , we are confidently looking ahead to seizing new opportunities in the current environment . " Income statement CHF million Total operating income of which net fee income of which net trading results Total operating expenses Profit before taxes Group net profit H2 2020 H1 2020 H2 2019 131.0 103.5 131.6 121.6 213.0 144.0 ( 107.1 ) ( 10.7 ) ( 98.7 ) ( 97.0 ) 4.8 34.6 5.5 32.5 8.7 ( 99.2 ) 31.8 34.4 Change y - o - y 0 % ( 16 % ) N / A 2 % ( 8 % ) 6 % LEONTEQ AG Europaallee 39 | CH - 8004 Zurich | Phone +41 58 800 1000 | investorrelations@leonteq.com | www.leonteq.com FY 2020 FY 2019 234.5 256.2 334.6 264.9 ( 98.4 ) ( 3.2 ) ( 197.9 ) ( 191.1 ) 36.6 65.1 39.9 62.7 Change y - o - y ( 8 % ) 26 % N / A 4 % ( 44 % ) ( 36 % )