Growth in Revenue of 11.4% to CHF 1,203.6m; EBITDA of CHF 209.9m, Increasing 24.6%; Net Profit - Group Share of CHF 134.2m, Increasing 22.2%

Rhea-AI Summary

Compagnie Financière Tradition (CFNCF) reported consolidated revenue including joint ventures of CHF 1,203.6m (+11.4% constant FX) for 2025. EBITDA reached CHF 209.9m (+24.6%, 17.4% margin) and operating profit was CHF 187.4m (+28.9%). Net profit group share rose to CHF 134.2m (+22.2%) and basic EPS to CHF 17.55 (+16.3%). The Board proposes a cash dividend of CHF 7.50 (+11.1%).

Balance sheet strength: net cash of CHF 282.7m, consolidated equity of CHF 511.5m, and return on equity of 27.6%.

Positive

• Revenue including joint ventures CHF 1,203.6m (+11.4% at constant FX)
• EBITDA CHF 209.9m (+24.6%), margin 17.4%
• Operating profit CHF 187.4m (+28.9%), margin 15.6%
• Net profit group share CHF 134.2m (+22.2%) and EPS CHF 17.55 (+16.3%)
• Proposed cash dividend CHF 7.50 (+11.1%)
• Net cash position CHF 282.7m and ROE 27.6%

Negative

• Net financial result moved to a expense of CHF 7.2m from income in 2024
• Foreign-exchange loss of CHF 7.1m reduced reported profit
• Tax expense increased to CHF 40.4m (effective tax rate 26%)
• Total cash net of financial debts declined to CHF 197.9m from CHF 219.2m

Ad hoc announcement pursuant to Art. 53 LR

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Lausanne, Switzerland--(Newsfile Corp. - March 20, 2026) - Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules

Growth in revenue¹⁾ of 11.4%* to CHF 1,203.6m

Operating profit before depreciation and amortization (EBITDA)¹⁾ of CHF 209.9m, increasing 24.6%*, for a margin of 17.4%

Operating profit¹⁾ of CHF 187.4m, up 28.9%*, for a margin of 15.6%

Net profit – Group share of CHF 134.2m, increasing 22.2%*

Basic earnings per share improving by 16.3% to CHF 17.55

Proposed cash dividend raised by 11.1% to CHF 7.50 per share

* Variation in constant currencies

In CHF m (except basic earnings per share)	2025	2024	Variation in current currencies	Variation in constant currencies
Reported results (IFRS)
Revenue	1,115.8	1,051.6	+6.1%	+11.3%
Operating profit	161.5	125.4	+28.8%	+35.0%
Operating margin	14.5%	11.9%
Profit before tax	183.1	153.5	+19.3%	+25.3%
Net profit Group share	134.2	115.6	+16.1%	+22.2%
Basic earnings per share	17.55	15.09	+16.3%	+22.4%
Results including share of joint ventures1)
Revenue	1,203.6	1,132.8	+6.3%	+11.4%
Operating profit before depreciation and amortization (EBITDA)	209.9	176.5	+19.0%	+24.6%
Operating margin before depreciation and amortization	17.4%	15.6%
Operating profit	187.4	152.4	+23.0%	+28.9%
Operating margin	15.6%	13.4%

 

1. with proportionate consolidation method for joint ventures

Overview

In 2025, Compagnie Financière Tradition operated in a complex macroeconomic environment marked by the shift of the major central banks’ monetary policies toward a cautious easing and by a rise in international trade tensions, notably the introduction of significant U.S. tariffs that triggered retaliatory measures and increased global geopolitical uncertainty. These developments prompted investors to actively reassess and reposition their portfolios, generating a substantial increase in transaction volumes across all asset classes and regions. The Group was able to capitalize on these market conditions while continuing its organic growth strategy.

Thus, Compagnie Financière Tradition continued its growth in 2025 with consolidated revenue, including the share of joint ventures, of CHF 1,203.6m against CHF 1,132.8m in 2024, an increase of 11.4% at constant exchange rates. The reported performance was limited by the strengthening of the Swiss franc during the year, particularly against the U.S. dollar and the Japanese yen. Revenue from interdealer broking business (IDB) was up 11.2% at constant exchange rates to CHF 1,164.0m, while revenue from the online forex trading business for retail investors in Japan (Non-IDB), was ahead 18.8% to CHF 39.6m.

The operating profit before depreciation and amortization (EBITDA) including the share of joint ventures reached CHF 209.9m increasing 24.6% for a margin of 17.4% (2024: CHF 176.5m, margin 15.6%). The operating profit, also including the share of joint ventures, was CHF 187.4m against CHF 152.4m in 2024, up 28.9% at constant exchange rates, with an operating margin of 15.6% and 13.4% respectively.

Reported revenue and operating profit

Compagnie Financière Tradition activity grew during the year, with reported consolidated revenue of CHF 1,115.8m compared with CHF 1,051.6m in 2024, an increase of 11.3% at constant exchange rates, or 6.1% at current exchange rates.

Reported operating profit for the year was CHF 161.5m against CHF 125.4m in 2024, an increase of 35.0% at constant exchange rates with an operating margin of 14.5% compared with 11.9% in 2024.

Net profit

In 2025, the Group reported a net financial expense of CHF 7.2m, whereas it had reported a net financial income of CHF 2.7m in 2024. Foreign‑exchange effects related to currency fluctuations resulted in a net loss of CHF 7.1m for the year, compared with a loss of CHF 0.5m the previous year. Moreover, the reduction in interest rates, combined with the Group’s early refinancing, led to a decrease in net interest result from the cash‑investment income less the Group’s financing charges, down to CHF 2.0m compared to CHF 5.0m in 2024.

The share of profit of associates and joint ventures amounts to CHF 28.8m, an increase of 19.1% at constant exchange rates, including a net after-tax gain of CHF 5.9m related to the disposal of a subsidiary of Gaitame.com (2024: CHF 25.4m).

The Group’s tax expense amounted to CHF 40.4m against CHF 30.2m in 2024 with an effective tax rate of 26% (2024: 24%).

Consolidated net profit was CHF 142.7m compared with CHF 123.3m in 2024. The net profit Group share amounts to CHF 134.2m against CHF 115.6m in 2024, an increase of 22.2% at constant exchange rates. Basic earnings per share rose by 16.3% at current exchange rates to reach CHF 17.55m against CHF 15.09m in 2024.

Balance sheet

The Group’s balance‑sheet strength is confirmed as of 31 December 2025 supported by a high level of equity, a limited share of intangible assets and a robust net cash position. Before deducting treasury shares amounting to CHF 54.3m, consolidated equity reaches CHF 565.8m. Net cash, including the Group’s share of net cash held by joint ventures, amounts to CHF 282.7m, while gross cash stands at CHF 474.3m.

Consolidated equity amounts to CHF 511.5m at 31 December 2025, (31 December 2024: CHF 505.9m), of which CHF 489.7m was attributable to shareholders of the parent (31 December 2024: CHF 483.0m). Return on equity reaches 27.6 % for the 2025 fiscal year compared with 26.0 % in the prior year. Total cash, including financial assets measured at fair value, net of financial debts, stands at CHF 197.9m at 31 December 2025 (31 December 2024: CHF 219.2m).

Dividend

It will be proposed at the shareholders’ General Meeting, which will convene on 21 May 2026, to distribute a cash dividend increased by 11.1 % to CHF 7.50 per share.

Outlook

Compagnie Financière Tradition’s activity since the beginning of 2026 is up compared with the same period last year, at constant exchange rates, confirming the positive trend seen over recent financial years. The Group operates at the heart of global financial markets, where its brokerage business remains closely linked to market conditions, to its clients’ risk management strategies and to the level of flows generated by portfolio adjustments in a changing environment.

In this context, Compagnie Financière Tradition intends to build on its strategic positioning and the depth of its expertise to support its clients in a complex and differentiated market environment. The priority remains the pursuit of growth primarily through organic development, in particular through targeted recruitment aimed at expanding its product offering across the different geographic regions. At the same time, disciplined investments in the digitalisation of hybrid brokerage activities, as well as in data and analytics capabilities supported by the Group’s data science expertise, will be maintained. The continued strengthening of balance sheet quality, rigorous cost management and the maintenance of a high return on equity will remain key strategic priorities, ensuring the Group’s long-term resilience and competitiveness.

Annual report

The 2025 Annual Report of Compagnie Financière Tradition SA will be available on 23 March 2026 after market close 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 2,500 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, Chair
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/289312

FAQ

What were Compagnie Financière Tradition (CFNCF) 2025 revenue and EBITDA figures?

Consolidated revenue including joint ventures was CHF 1,203.6m and EBITDA CHF 209.9m. According to the company, revenue rose 11.4% at constant currencies and EBITDA increased 24.6%.

How much did CFNCF report for net profit Group share and EPS in 2025?

Net profit Group share was CHF 134.2m and basic EPS CHF 17.55. According to the company, both improved materially versus 2024 (+22.2% and +16.3%).

What dividend did Compagnie Financière Tradition (CFNCF) propose for 2025?

The Board proposes a cash dividend of CHF 7.50 per share, an increase of 11.1%. According to the company, this will be submitted at the shareholders' meeting on 21 May 2026.

What is CFNCF's balance sheet and net cash position at 31 December 2025?

Net cash including joint ventures stood at CHF 282.7m, with consolidated equity of CHF 511.5m. According to the company, gross cash was CHF 474.3m.

Did FX or financing affect Compagnie Financière Tradition's 2025 results?

Yes. The group recorded a foreign-exchange loss of CHF 7.1m and a net financial expense of CHF 7.2m. According to the company, these items reduced reported net income.

How did CFNCF's profitability metrics change in 2025 compared with 2024?

Return on equity rose to 27.6% and operating margins improved to 15.6% (operating) and 17.4% EBITDA. According to the company, margins expanded significantly year-over-year.