Compagnie Financiere Tradition Sa · SIX:CFT
Compagnie Financiere Tradition Sa — H1 2024 Earnings Presentation
16 slides from Compagnie Financiere Tradition Sa's earnings presentation, Aug 30, 2024
Slide 1: H1 2024 Results Presentation
H1 2023 H1 2024 RESULTS RESULTS PRESENTATION PRESENTATION 1 SEPTEMBER 2023 30 August 2024 Lausanne Lausanne
Slide 2: Summary of CFT's H1 2024 key financial metrics
Summary of CFT’s H1 2024 key financial metrics Continued growth at solid pace maintaining the momentum from last year Variations in constant currencies +9.2% +10.6% +12.0% CHF 577m CHF 92m CHF 80m Revenue* EBITDA* Operating profit* Productivity up 8.9% Margin: 16.0% Margin: 13.8% +24.5% +13.6% +4.3%
Slide 3: 1H24 aligned with the long term track record
1H24 aligned with the long term track record A long established Swiss group focused on critical size and sound balance sheet A confirmed ambition • Creating long term value through growth, profitability and cash conversion • A change of paradigm from the normalization of the Central banks monetary p
Slide 4: Revenue including share of joint ventures up 9.2% in constant currencies
Revenue including share of joint ventures up 9.2% in constant currencies EBITDA including share of JVs increase by 10.6% to 92.2m for a margin of 16% +9.2% +9.2% +10.6% +12.0% +13.5% +22.8% +25.2% +24.5% 577.0 552.4 537.1 525.1 H1 2024 margin 513.3 483.9 H1 2023 margin H1 2022 margin 16.0% 13.8% 15.
Slide 5: Growth in both wholesale and retail businesses in constant currencies
Growth in both wholesale and retail businesses in constant currencies Gaitame reported revenue impacted by JPY weakening against CHF Reported revenue and revenue including share of JV Revenue including share of JV by business M CHF Joint ventures +9.4% M CHF Wholesale Subsidiaries +9.2% (reported) 5
Slide 6: Diversified revenue portfolio both in terms of geographies and asset classes
Diversified revenue portfolio both in terms of geographies and asset classes Positive revenue development trend reflected in all regions Breakdown by region in H1 2024 United Asia Pacific; Kingdom; 24% 30% Americas; Continental 33% Europe; 13% Trend by region Non IDB APAC Americas CE UK 3% 3% 3% 24%
Slide 7: Wholesale revenue: strong improvement in Energy and Commodities products
Diversified revenue portfolio both in terms of geographies and asset classes Strong improvement in Energy and Commodities products Currencies and Securities and Energy and rates security derivatives Commodities Retail FX Breakdown by product in H1 2024 Non IDB; 3% • Interest rate • Government • Oil
Slide 8: EBITDA including share of joint ventures up 10.6% to CHF 92.2m
EBITDA including share of joint ventures up 10.6% to CHF 92.2m Improved average annualized productivity up 8.9% to CHF 900’000 per individual EBITDA including share of JVs IDB headcount trend (Variation at constant rates) 2'410 2'400 margin 2'329 IDB Non IDB +10.6% 16.0% M CHF 15.6% 13.3% 92.2 86.4
Slide 9: Gaitame.com: EBITDA margin remained high at 51% in H1 2024
Gaitame.com : EBITDA margin remained high at 51% in H1 2024 Increase in revenue, number of customers and deposits in constant terms; Reported figures impacted by weaker Japanese currency Revenue trend* EBITDA trend* M CHF M CHF At current rates At constant rates (variation at constant rates) At curr
Slide 10: Net profit – Group share up 24.5% to CHF 60.0m
Net profit – Group share up 24.5% to CHF 60.0m Net interest income increased by CHF 2.2m with improved return from gross cash investments Net profit – Group share M CHF H1 2024 H1 2023 Change Change at at current constant Net interest income/(expense) +2.6 +0.4 exchange exchange M CHF H1 2024 H1 202
Slide 11: Continued focus on sound balance sheet with important shareholders' equity and net cash position
Continued focus on sound balance sheet with important shareholders’ equity and net cash position Low level of intangibles assets including goodwill Assets Equity and Liabilities M CHF 30.06.2024 31.12.2023 M CHF 30.06.2024 31.12.2023 Property, Plant & Equipment 16.2 17.2 Capital 20.1 19.4 Right-of-u
Slide 12: Shareholders' equity of CHF 492.0m and net cash position of CHF 252m
Shareholders’ equity of CHF 492.0m and net cash position of CHF 252m1) Gross cash amount to CHF 465m; Gross debt / LTM EBITDA incl JV ~1.5x Shareholders’ equity breakdown Net cash position trend Capital and share premium Consolidated reserves Currency translation Cash in JVs Financial debts** Unavai
Slide 13: Number of shares
At 30 June 2024, CFT owns 325’400 treasury shares or ~4.1% of share capital of which 63’000 arise from the share buyback program at a cumulative cost of CHF 8.2m 7’701’002 shares outstanding after deduction of treasury shares Share buyback program Treasury shares breakdown % of total share capital o
Slide 14: CFT, a Swiss group ranked amongst the top worldwide in its sector
CFT, a Swiss group ranked amongst the top 3 worldwide in its sector Roadmap based on growth initiatives, operational performance and quality of balance sheet 1 Continued momentum in July and August 2024 in line with the first half of the year 2 Pursue growth strategy organically and external opportu
Slide 15: Events calendar
Events calendar: Thursday 7 November 2024 Publication of consolidated revenue for the third quarter 2024 (before the opening of the stock exchange)
Slide 16: Q & A Thank you!
4 Compagnie Financiére Tradition Compagnie Financiére Tradition SA ll, rue de Langallerie, CH 1003 Lausanne T.: +41 21343 52 87 F.: +41 21343 55 00 Q&A Thank you!
Compagnie Financière Tradition — H1 2024 Earnings Presentation on 6ix