Q1 2024 : Growth of Revenue 1) of 4.6% at Constant Exchange Rates to CHF 283.8m; Increase over the First Four Months of 9.0% at Constant Exchange Rates
Compagnie Financière Tradition reported a 4.6% growth in revenue at constant exchange rates to CHF 283.8m in Q1 2024, with a further 9.0% increase over the first four months of the year. The company's revenue growth was impacted by the number of working days and currency effects, but overall showed a positive trend compared to the same period in 2023.
Consolidated revenue increased by 4.6% in Q1 2024 at constant exchange rates.
A strong increase in activity was seen in April, with revenue up 30% compared to the same period in 2023.
Reported revenue (IFRS) saw a slight decrease of 2.2% at current exchange rates.
Retail investors (Non-IDB) revenue declined by 13.9%.
Currency effects, including the strengthening of the Swiss franc against the Japanese yen, impacted consolidated revenue.
Lausanne, Switzerland--(Newsfile Corp. - May 2, 2024) - Ad hoc announcement pursuant to Art. 53 LR
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10404/207754_figure1.jpg
Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules
Q1 2024 : Growth of revenue1) of
Increase over the First Four Months of
Compagnie Financière Tradition continued to grow since the beginning of the year, along the lines of last year at constant exchange rates. Indeed, consolidated revenue, including share of joint ventures, increased by
Furthermore, consolidated revenue for the quarter was impacted by the number of working days compared to the first quarter of 2023, in particular due to the Easter holiday, with a carryover to April along with a strong upturn in activity.
Consolidated revenue continued to be impacted by a currency effect compared to the first quarter of 2023 due to the strengthening of the Swiss franc, notably against the Japanese yen. Details are as follows:
| CHFm | 2024 | 2023 | Variation at current exchange rates | Variation at constant exchange rates |
| Reported revenue (IFRS) | 265.6 | 271.6 | - | + |
| Revenue including share of joint ventures1) | 283.8 | 290.5 | - | + |
| Interdealer broking business (IDB) | 276.8 | 282.3 | - | + |
| Retail investors (Non-IDB) | 7.0 | 8.2 | - | + |
1) with proportionate consolidation method for joint ventures
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/207754
FAQ
What was the revenue growth reported by Compagnie Financière Tradition in Q1 2024?
How much did the revenue increase by in the first four months of 2024 compared to the same period in 2023?
What impact did currency effects have on the company's revenue in Q1 2024?
Which business segment experienced a decline in revenue in Q1 2024?
