Half-Year Results 2024
Compagnie Financière Tradition reported strong growth in its Half-Year Results 2024. Key highlights include:
- Revenue increased by 9.2% to CHF 577.0m at constant exchange rates
- EBITDA rose by 10.6% to CHF 92.2m, with a margin of 16.0%
- Net profit Group share grew by 24.5% to CHF 60.0m
- Basic earnings per share increased by 21.9% to CHF 7.98
The company saw growth across all regions and most asset classes, driven by its organic growth policy. The interdealer broking (IDB) business revenue grew by 9.4%, while the online forex trading business for retail investors in Japan increased by 4.9%. The company maintains a strong balance sheet with consolidated equity of CHF 456.9m and net cash of CHF 251.6m.
Compagnie Financière Tradition ha riportato una forte crescita nei suoi Risultati Semestrali 2024. I punti salienti includono:
- I ricavi sono aumentati del 9.2% a CHF 577,0 milioni a tassi di cambio costanti
- L'EBITDA è salito del 10.6% a CHF 92,2 milioni, con un margine del 16.0%
- L'utile netto quota gruppo è cresciuto del 24.5% a CHF 60,0 milioni
- L'utile base per azione è aumentato del 21.9% a CHF 7,98
La società ha registrato crescita in tutte le regioni e nella maggior parte delle classi di attività, sostenuta dalla sua politica di crescita organica. I ricavi del business di intermediazione tra operatori (IDB) sono aumentati del 9.4%, mentre il business di trading forex online per investitori al dettaglio in Giappone è cresciuto del 4.9%. L'azienda mantiene un forte bilancio con un capitale consolidato di CHF 456.9 milioni e un liquidità netta di CHF 251.6 milioni.
Compagnie Financière Tradition reportó un fuerte crecimiento en sus Resultados Semestrales 2024. Los aspectos más destacados incluyen:
- Los ingresos aumentaron un 9.2% a CHF 577.0 millones a tipos de cambio constantes
- El EBITDA creció un 10.6% a CHF 92.2 millones, con un margen del 16.0%
- El beneficio neto atribuible al grupo creció un 24.5% a CHF 60.0 millones
- Las ganancias básicas por acción aumentaron un 21.9% a CHF 7.98
La empresa vio crecimiento en todas las regiones y en la mayoría de las clases de activos, impulsada por su política de crecimiento orgánico. Los ingresos del negocio de corretaje interdealer (IDB) crecieron un 9.4%, mientras que el negocio de trading en forex en línea para inversores minoristas en Japón aumentó un 4.9%. La empresa mantiene un balance sólido con un patrimonio consolidado de CHF 456.9 millones y un efectivo neto de CHF 251.6 millones.
Compagnie Financière Tradition은 2024년 반기 실적에서 강력한 성장을 보고했습니다. 주요 하이라이트는 다음과 같습니다:
- 수익은 9.2% 증가하여 CHF 577.0백만에 달했습니다 (고정 환율 기준)
- EBITDA는 10.6% 증가하여 CHF 92.2백만에 이르렀고, 마진은 16.0%입니다
- 그룹 지분의 순이익은 24.5% 증가하여 CHF 60.0백만에 도달했습니다
- 기본 주당 순익은 21.9% 증가하여 CHF 7.98입니다
회사는 모든 지역과 대부분의 자산 클래스에서 성장을 보였으며, 이는 유기적 성장 정책에 기인합니다. 중개인 간 거래(IDB) 사업의 수익은 9.4% 성장했고, 일본의 소매 투자자를 위한 온라인 외환 거래 사업은 4.9% 증가했습니다. 회사는 CHF 456.9백만의 통합 자본과 CHF 251.6백만의 순 현금을 보유하여 강력한 재무 상태를 유지하고 있습니다.
Compagnie Financière Tradition a enregistré une forte croissance dans ses Résultats Semestriels 2024. Les points clés incluent :
- Les revenus ont augmenté de 9,2% pour atteindre CHF 577,0 millions à taux de change constant
- L'EBITDA a progressé de 10,6% pour s'établir à CHF 92,2 millions, avec une marge de 16,0%
- Le bénéfice net part du groupe a crû de 24,5% pour atteindre CHF 60,0 millions
- Le bénéfice de base par action a augmenté de 21,9% pour s'établir à CHF 7,98
L'entreprise a connu une croissance dans toutes les régions et la plupart des classes d'actifs, stimulée par sa politique de croissance organique. Les revenus des activités de courtage inter-dealers (IDB) ont augmenté de 9,4%, tandis que le commerce de devises en ligne pour les investisseurs de détail au Japon a progressé de 4,9%. L'entreprise maintient un bilan solide avec des capitaux consolidés de CHF 456,9 millions et une trésorerie nette de CHF 251,6 millions.
Compagnie Financière Tradition berichtete über ein starkes Wachstum in den Halbjahresergebnissen 2024. Die wichtigsten Höhepunkte sind:
- Der Umsatz stieg um 9,2% auf CHF 577,0 Millionen zu konstanten Wechselkursen
- Das EBITDA erhöhte sich um 10,6% auf CHF 92,2 Millionen, mit einer Marge von 16,0%
- Der Konzerngewinn nach Anteilen wuchs um 24,5% auf CHF 60,0 Millionen
- Der Basisgewinn pro Aktie stieg um 21,9% auf CHF 7,98
Das Unternehmen verzeichnete in allen Regionen und in den meisten Anlageklassen ein Wachstum, unterstützt durch seine organische Wachstumpolitik. Der Umsatz im Interdealer-Brokerage-Geschäft (IDB) wuchs um 9,4%, während das Online-Devisenhandelsgeschäft für Privatanleger in Japan um 4,9% zunahm. Das Unternehmen hat eine starke Bilanz mit einem konsolidierten Eigenkapital von CHF 456,9 Millionen und einem Netto-Cash-Bestand von CHF 251,6 Millionen.
- Revenue increased by 9.2% to CHF 577.0m at constant exchange rates
- EBITDA rose by 10.6% to CHF 92.2m, with a margin of 16.0%
- Net profit Group share grew by 24.5% to CHF 60.0m
- Basic earnings per share increased by 21.9% to CHF 7.98
- Interdealer broking (IDB) business revenue grew by 9.4%
- Online forex trading business for retail investors in Japan increased by 4.9%
- Strong balance sheet with consolidated equity of CHF 456.9m and net cash of CHF 251.6m
- Effective tax rate decreased from 27% to 26%
- None.
Lausanne, Switzerland--(Newsfile Corp. - August 30, 2024) - Ad hoc announcement pursuant to Art. 53 LR
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10404/221602_figure1.jpg
Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules
Growth in revenue1) to CHF 577.0m, up
Operating profit before depreciation and amortization (EBITDA)1) increase of
Net profit Group share of CHF 60.0m, up
* Variation at constant exchange rates
| In CHF m (except basic earnings per share) | H1 2024 | H1 2023 | Variation at current exchange rates | Variation at constant exchange rates |
| Reported results (IFRS) | ||||
| Revenue | 537.1 | 513.3 | + | + |
| Operating profit | 67.4 | 60.9 | + | + |
| Operating margin | | | ||
| Profit before tax | 81.5 | 69.1 | + | + |
| Net profit Group share | 60.0 | 51.0 | + | + |
| Basic earnings per share | 7.98 | 6.93 | + | + |
| Results including share of joint ventures1) | ||||
| Revenue | 577.0 | 552.4 | + | + |
| Operating profit before depreciation and amortization (EBITDA) | 92.2 | 86.4 | + | + |
| Operating margin before depreciation and amortization | 16.0 % | | ||
| Operating profit | 79.9 | 74.0 | + | + |
| Operating margin | | |
- with proportionate consolidation method for joint ventures
Overview
Compagnie Financière Tradition continued to grow at a solid pace throughout the first half, maintaining the momentum of last year. Activity levels were up in all regions and across most asset classes during the period, largely driven by the Group's organic growth policy.
Against this backdrop, the Group’s consolidated revenue, including the share of joint ventures, was up
Operating profit, including the share of joint ventures, was CHF 79.9m against CHF 74.0m in H1 2023, up
Reported revenue and operating profit
Business activity grew during the year with reported consolidated revenue of CHF 537.1m compared with CHF 513.3m in H1 2023, an increase of
Reported operating profit was CHF 67.4m against CHF 60.9m in 2023, up
Net profit
The Group recognised net financial income of CHF 1.7m in the first six months of 2024, against net financial expense of CHF 4.5m in 2023. The interest rate environment positively impacted interest income from cash investments. Income generated, net of interest expense on bank borrowings and bonds, was up CHF 2.2m from the previous period to CHF 2.6m, against CHF 0.4m in H1 2023. Net foreign exchange gains and losses driven by exchange rate fluctuations had a marginal impact on the period, compared with a loss of CHF 3.9m in 2023.
The share in the results of associates and joint ventures was CHF 12.4m against CHF 12.8m in H1 2023, up
The Group’s tax expense amounted to CHF 17.6m against CHF 15.1m in H1 2023 for an effective tax rate of
Consolidated net profit was CHF 63.9m compared with CHF 54.0m in H1 2023 with a Group share of CHF 60.0m against CHF 51.0m in 2023, an increase of
Balance sheet
The Group's strong balance sheet, focused on a strong capital position while keeping a low level of intangible assets and a strong net cash position, continues as of June 30, 2024. Indeed, consolidated equity, before deduction of treasury shares in the amount of CHF 35.1m, was CHF 492.0m, with net cash, including the Group's share in the net cash of joint ventures, of CHF 251.6m whereas gross cash amounted to CHF 464.7m.
Consolidated equity stood at CHF 456.9m at 30 June 2024 (31 December 2023: CHF 426.0m) of which CHF 436.4m was attributable to shareholders of the parent (31 December 2023: CHF 405.1m). Total cash, including financial assets at fair value, net of financial debt, was CHF 171.8m at 30 June 2024 against CHF 173.2m at 31 December 2023.
Outlook
The Group's activity in July and August continued along the lines of the first half of the year. In addition, Compagnie Financière Tradition intends to pursue its growth strategy, primarily organic, as well as its investments in its brokerage activity in order to accelerate its digitalization across all its operations as well as in its data and analytics activities with the support of its developed data science expertise. In addition, maintaining the quality of its balance sheet and its strong cost discipline will remain key strategic priorities.
Half-year report
The 2024 half-year report of Compagnie Financière Tradition SA is now available on the Company’s website at http://tradition.com/financials/reports.aspx.
ABOUT COMPAGNIE FINANCIERE TRADITION SA
Compagnie Financière Tradition SA is one of the world's largest interdealer brokers in over-the-counter financial and commodity related products. Represented in over 30 countries. Compagnie Financière Tradition SA employs more than 2,400 people globally and provides broking and data services for a complete range of financial products (money market products. bonds. interest rate. currency and credit derivatives. equities. equity derivatives. interest rate futures and index futures) and non-financial products (energy and environmental products. and precious metals). Compagnie Financière Tradition SA (CFT) is listed on the SIX Swiss Exchange.
For more information, please visit www.tradition.com.
CONTACTS MEDIA
Patrick Combes, Chairman
Compagnie Financière Tradition SA
+41 (0)21 343 52 87
actionnaire@tradition.ch
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221602
FAQ
What was Compagnie Financière Tradition's (CFNCF) revenue growth in H1 2024?
How much did CFNCF's EBITDA increase in the first half of 2024?
What was Compagnie Financière Tradition's net profit Group share in H1 2024?
How did CFNCF's basic earnings per share change in H1 2024?
What was Compagnie Financière Tradition's net cash position as of June 30, 2024?
