Hypothekarbank Lenzburg AG reported Q1 2024 revenue of CHF 25.016 million, delivering net income of CHF 4.560 million and earnings per share of CHF 63.48. The quarter shows a pronounced sequential decline versus Q4 2023 (revenue CHF 74.906 million; net income CHF 11.505 million), suggesting seasonality or a high base in the prior period rather than structural deterioration. Despite the QoQ drop, the company preserved a solid operating margin of approximately 20.8% and a net margin of about 18.2%, underscoring ongoing cost discipline and revenue resilience in a constrained near-term environment.
The balance sheet exhibits substantial liquidity with CHF 846.041 million in cash and equivalents and an overall asset base of CHF 7.046 billion. Liabilities are largely funded by long-term debt (CHF 1.009 billion) and non-current liabilities, with total stockholders’ equity around CHF 531.5 million. The bank remains comfortably financed, as indicated by a debt ratio near 0.143 and a debt-to-capitalization measure around 0.655, alongside a strong liquidity cushion (cash ratio ~28.3x). In a Swiss regional bank context, the firm appears positioned to weather near-term profitability volatility while maintaining balance-sheet strength and liquidity coverage.
Key questions for investors relate to the duration of any seasonal effects, the trajectory of net interest income and expense control, and the ability to sustain ~CHF 4.6–4.8 million quarterly earnings in an evolving rate environment. Absent management guidance in the provided data, the outlook hinges on efficiency gains, asset quality, and continued liquidity management.