Revenue Growth of 10.4% at Constant Exchange Rates (+2.2% at Current Exchange Rates) to CHF 646.2 Million
Rhea-AI Summary
Compagnie Financière Tradition (OTC:CFNCF) reported first-half 2026 revenue including joint ventures of CHF 646.2 million, up 10.4% at constant exchange rates and 2.2% at current rates. Interdealer broking revenue rose to CHF 623.3 million and Japanese retail (Non-IDB) revenue to CHF 22.9 million at constant exchange rates.
EBITDA including joint ventures increased to CHF 120.1 million, up 13.8% at constant exchange rates, with an 18.6% margin. Net profit Group share reached CHF 79.1 million, up 22.5% at constant exchange rates and 12.6% reported, while basic EPS rose to CHF 10.43. Reported operating margin slipped to 14.7%. Equity stood at CHF 514.4 million and net cash, including joint ventures, at CHF 265.8 million, with total cash net of debt at CHF 181.6 million.
Positive
- Revenue including JVs up 10.4% at constant FX to CHF 646.2m
- EBITDA including JVs up 13.8% at constant FX to CHF 120.1m
- Net profit Group share up 22.5% at constant FX to CHF 79.1m
- Basic EPS increased 14.1% to CHF 10.43
- Effective tax rate reduced to 23.4% from 26.1%
- Share of associates and JVs profit rose to CHF 16.1m
Negative
- Reported operating profit slightly down 0.2% to CHF 88.0m
- Reported operating margin declined to 14.7% from 15.2%
- Foreign exchange impact reduced EBITDA by CHF 9.5m and operating profit by CHF 6.7m
- Total cash net of financial debt fell to CHF 181.6m from CHF 197.9m
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Ad hoc announcement pursuant to Art. 53 LR
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Lausanne, Switzerland--(Newsfile Corp. - August 28, 2026) - Ad hoc announcement pursuant to Article 53 of the Six Exchange Regulation Listing Rules
Revenue1) growth of
Operating profit before depreciation and amortization (EBITDA)1) rose to CHF 120.1 million, an increase of
Net profit Group share up
| In CHF m (except basic earnings per share) | H1 2026 | H1 2025 | Variation at current exchange rates | Variation at constant exchange rates |
| Reported results (IFRS) | ||||
| Revenue | 597.8 | 580.1 | | |
| Operating profit | 88.0 | 88.2 | - | + |
| Operating margin | | | ||
| Profit before tax | 103.0 | 95.9 | + | + |
| Net profit Group share | 79.1 | 70.2 | + | + |
| Basic earnings per share | 10.43 | 9.14 | + | + |
| Results including share of joint ventures1) | ||||
| Revenue | 646.2 | 632.1 | + | + |
| Operating profit before depreciation and amortization (EBITDA) | 120.1 | 114.7 | + | + |
| Operating margin before depreciation and amortization | | | ||
| Operating profit | 108.3 | 103.5 | +4, | +13, |
| Operating margin | | |
1) with proportionate consolidation method for joint ventures
Overview
Compagnie Financière Tradition continued its growth momentum in the first half of 2026, building on the positive momentum observed in previous years. The appreciation of the Swiss franc against most currencies, particularly against the US dollar and the Japanese yen, had a significant impact on reported revenue in Swiss francs compared with revenue calculated at constant exchange rates.
In this context, the Group’s consolidated revenue, including the share of joint ventures, was up
Operating profit before depreciation and amortization (EBITDA), including the share of joint ventures, was CHF 120.1 million against CHF 114.7 million in the first half of 2025, up
Reported revenue and operating profit
Business activity grew during the year with reported consolidated revenue of CHF 597.8 million compared with CHF 580.1 million in the first half of 2025, an increase of
Reported operating profit was CHF 88.0 million against CHF 88.2 million in the first half of 2025, a decrease of
Net profit
The Group recorded a net financial expense of CHF 1.1 million in the first half of 2026, compared with CHF 4.4 million in the first semester of 2025. Net foreign exchange differences arising from currency fluctuations had a negative impact of CHF 0.4 million during the period, compared with CHF 4.9 million in the previous year. Interest income from cash investments decreased by CHF 1.6 million, resulting in net interest income after financial expenses on credit facilities and bonds, of CHF 0.7 million compared with CHF 1.3 million in the previous period.
The share in the results of associates and joint ventures was CHF 16.1 million against CHF 12.1 million in the first half of 2025, up
The Group’s tax expense amounted to CHF 20.4 million against CHF 21.9 million in the first half of 2025 for an effective tax rate of 23,
Net profit Group share was CHF 79.1 million compared with CHF 70.2 million in the first half of 2025, an increase of
Balance sheet
The Group maintained its sound balance sheet, characterised by a high level of equity, a low level of intangible assets and a strong net cash position as at 30 June 2026.
Consolidated equity stood at CHF 514.4 million at 30 June 2026 (31 December 2025: CHF 511.5 million), of which CHF 493.3 million was attributable to shareholders of the parent (31 December 2025: CHF 489.7 million), for a return on equity of
As at 30 June 2026, net cash, including the Group’s share in the net cash position of joint ventures, amounted to CHF 265.8 million, stable at constant exchange rates compared with the same period last year. Total cash, including financial assets at fair value, net of financial debt, was CHF 181.6 million at 30 June 2026 against CHF 197.9 million at 31 December 2025.
Outlook
Compagnie Financière Tradition’s activity continued to grow in the first half of 2026, building on the momentum observed in recent years. In a market environment marked by rapid changes in economic, monetary and geopolitical conditions, the Group intends to pursue its development by leveraging its position at the heart of global financial markets, its expertise and the breadth of its brokerage offering. Organic growth remains a priority, notably through targeted recruitment in front-office activities and the development of the Group’s offering across the different regions in which it operates.
The Group will also continue to invest in the digitalisation of brokerage activities, hybrid solutions, as well as data and analytics capabilities, leveraging its proprietary data science and artificial intelligence expertise. These capabilities will support the development and evolution of front-office activities while also streamlining and enhancing the efficiency of processes across support activities.
Finally, maintaining a strong financial structure and rigorous cost management will remain essential to preserving the flexibility required to pursue the Group’s development, while strengthening its long-term resilience and competitiveness.
Half-year report
The 2026 half-year report of Compagnie Financière Tradition SA is 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 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.
MEDIA CONTACTS
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/311942