1st semester 2024 : Growth in revenue1) to CHF 577.0m, up 9.2% at constant exchange rates Growth of 14.4% in the 2nd quarter at constant exchange rates

Rhea-AI Summary

Compagnie Financière Tradition (CFNCF) reported strong growth in the first semester of 2024, with adjusted revenue including joint ventures reaching CHF 577.0 million, up 9.2% at constant exchange rates. The second quarter saw even stronger performance, with revenue growth of 14.4% at constant exchange rates. The company's Interdealer broking (IDB) business grew by 9.4%, while the Retail investors (Non-IDB) segment increased by 4.9% in the first half. Despite positive growth, reported revenue was impacted by currency effects due to the strengthening Swiss franc, particularly against the Japanese yen. The company's organic growth policy drove increased activity across all regions and most asset classes.

Positive

• Revenue growth of 9.2% at constant exchange rates in H1 2024
• Strong Q2 performance with 14.4% revenue growth at constant exchange rates
• Interdealer broking (IDB) business grew by 9.4% in H1 2024
• Retail investors (Non-IDB) segment increased by 4.9% in H1 2024
• Increased activity across all regions and most asset classes

Negative

• Currency effects due to strengthening Swiss franc impacted reported revenue

Lausanne, Switzerland--(Newsfile Corp. - August 8, 2024) - Ad hoc announcement pursuant to Art. 53 LR

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Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules

1^st semester 2024 : Growth in revenue¹⁾ to CHF 577.0m,

up 9.2% at constant exchange rates

Growth of 14.4% in the 2^nd quarter at constant exchange rates

Compagnie Financière Tradition continued to grow since the beginning of the year, along the lines of last year. At constant exchange rates, consolidated revenue, including share of joint ventures, increased by 9.2% in the first semester of the year, with a growth of 14.4% in the 2^nd quarter. The level of activity over the period was up in all regions and the majority of asset classes, driven notably by the Group’s organic growth policy.

Consolidated revenue continued to be impacted by a currency effect compared to the first semester of 2023 due to the strengthening of the Swiss franc, notably against the Japanese yen. Details are as follows:

Revenue for the 1^st semester:

CHFm	2024	2023	Variation at current exchange rates	Variation at constant exchange rates
Reported revenue (IFRS)	537.1	513.3	+4.6%	+9.2%
Adjusted revenue including share of joint ventures1)	577.0	552.4	+4.4%	+9.2%
Interdealer broking business (IDB)	560.3	534.0	+4.9%	+9.4%
Retail investors (Non-IDB)	16.7	18.4	-9.3%	+4.9%

 

Revenue for the 2^nd quarter:

CHFm	2024	2023	Variation at current exchange rates	Variation at constant exchange rates
Reported revenue (IFRS)	271.5	241.7	+12.3%	+14.4%
Adjusted revenue including share of joint ventures1)	293.2	261.9	+11.9%	+14.4%
Interdealer broking business (IDB)	283.5	251.7	+12.6%	+14.7%
Retail investors (Non-IDB)	9.7	10.2	-5.6%	+7.0%

 

1)      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/219238

FAQ

What was Compagnie Financière Tradition's (CFNCF) revenue growth in H1 2024?

Compagnie Financière Tradition's adjusted revenue including joint ventures grew by 9.2% at constant exchange rates in H1 2024, reaching CHF 577.0 million.

How did CFNCF perform in Q2 2024?

CFNCF showed strong performance in Q2 2024, with revenue growth of 14.4% at constant exchange rates.

What was the growth rate of CFNCF's Interdealer broking (IDB) business in H1 2024?

CFNCF's Interdealer broking (IDB) business grew by 9.4% in H1 2024 at constant exchange rates.

How did currency fluctuations affect CFNCF's reported revenue in H1 2024?

CFNCF's reported revenue was negatively impacted by currency effects due to the strengthening Swiss franc, particularly against the Japanese yen.