Compagnie Financiere Tradition Sa · SIX:CFT
Compagnie Financiere Tradition Sa — H1 2007 Earnings Presentation
27 slides from Compagnie Financiere Tradition Sa's earnings presentation, Sep 4, 2007
Slide 1: 2007 First Half Results
2007 First Half Results Zurich - 4 September 2007
Slide 2: Key Figures
Key Figures 9 Compagnie Financiére Tradition
Slide 3: Key Figures
Key Figures Turnover: MCHF 676.7 MCHF 1200 1000 1,144.4 800 914.7 600 676.7 400 577.1 449.1 200 0 2005 2006 2007 Half year Annual Operating profit: MCHF 81.3 Operating margin: 12 % MCHF MCHF 14% 800 120 700 12.0% 12% 100 109.0 600 10.9% 676.7 10% 80 500 577.1 8.8% 8% 81.3 400 60 449.1 6% 61.9 62.9 3
Slide 4: Key Figures
Key Figures Net profit - Group share : MCHF 39.1 MCHF 70 60 61.7 50 40 30 39.1 20 28.5 28.2 10 19.3 0 2005 2006 2007 Half year Annual Shareholders’ equity: MCHF 283.8 MCHF 300 30.4 25.4 22.0 200 214.8 252.4 258.4 100 0 31.12.2005 31.12.2006 30.06.2007 Group Minoritaries
Slide 5: Tradition Profile
Tradition Profile Compagnie Financiére Tradition
Slide 6: CFT is the third largest Interdealer Broker in the world
CFT is the third largest Interdealer Broker (« IDBs ») in the world IDBs play a critical role in the structure of capital markets Price discovery, counterparty sourcing, highly skilled and efficient execution capabilities primarily in the Over-the- Counter markets CFT is one of the very few global l
Slide 7: Global IDBs play critical role in the transactional value chain
Global IDBs play critical role in the transactional value chain • in billions of CHF 1.8 1.8 H1 2007 Total Turnover of which transactional services (*) 1.5 1.3 0.9 0.9 0.7 0.6 0.5 0.5 0.4 0.3 0.1 0.1 CBOT CFT ICE ISE GFI L S E (e) Nasdaq OMX Icap (e) Global (e) Deutsche Euronext CME- Prebon Axess Tu
Slide 8: Markets drove record months in Q1 and end of Q2
Markets drove record months in Q1 and end of Q2 Foreign exchange FX Volatilities (historic) Zoom Recent evolution $/JPY $/JPY $/€ $/€ 10 10 0 0 30/08/2002 30/12/2002 30/04/2003 30/08/2003 30/12/2003 30/04/2004 30/08/2004 30/12/2004 30/04/2005 30/08/2005 30/12/2005 30/04/2006 30/08/2006 30/12/2006 30
Slide 9: Markets drove record months in Q1 and end of Q2
5 15 8 18 28 38 30/12/2005 15/09/1999 28/02/2006 15/09/2000 Source: Reuters 30/04/2006 Source: Bloomberg 15/09/2001 30/06/2006 10Y USA 15/09/2002 30/08/2006 10Y GERMANY 15/09/2003 30/10/2006 15/09/2004 30/12/2006 15/09/2005 28/02/2007 Government Bonds volatilities (historic) 15/09/2006 30/04/2007 30
Slide 10: Markets drove record months in Q1 and end of Q2
Markets drove record months in Q1 and end of Q2 Energy WTI Crude WTI Crude 100 80 60 80 Volatility Volatility 80 50 60 70 40 60 40 30 40 60 20 20 20 10 0 0 50 0 01/01/1999 01/01/2000 01/01/2001 01/01/2002 01/01/2003 01/01/2004 01/01/2005 01/01/2006 01/01/2007 30/12/2005 28/02/2006 30/04/2006 30/06/2
Slide 11: H1 2007 Highlights
H1 2007 Highlights
Slide 12: Consolidated income statement
Consolidated income statement MCHF H1 2007 H1 2006 % change Turnover 676.7 577.1 +17.3 Other net operating income 1.6 -0.1 - Other operating income 678.3 577.0 +17.5 Operating expenses -597.0 -514.1 +16.1 Operating profit 81.3 62.9 +29.3 Net financial result 1.2 1.5 -18.6 Share of profit of equity a
Slide 13: H1 2007 Highlights: Turnover
H1 2007 Highlights Turnover
Slide 14: Turnover
Turnover MCHF 1200 1000 1,144.4 Up 17.3% on 2006 800 914.7 at current exchange rates 600 676.7 (17.0% at constant exchange rates) 400 577.1 449.1 200 0 113% 2005 2006 2007 Comparative H1 growth rates Half year Annual Delivering strong organic Undisclosed Undisclosed Undisclosed 27% 29% 24% 21% 17% 1
Slide 15: Turnover Split by Product / Geography
Turnover Split by Product / Geography By product segment By geography +5.6%* 350 +35.8%* 400 +18.1% 300 350 250 300 +21.2% 200 +40.7% 250 +28.2%* 150 200 100 150 50 100 0 50 0 Currencies Securities, Commodities and interest cash & and other Europe Americas Asia-Pacific rates derivatives activities 1
Slide 16: H1 2007 Highlights: Operating profit
H1 2007 Highlights Operating profit
Slide 17: Operating Profit
Operating Profit Operating profit rose by 29.3% Operating margin improves to 12 % of consolidated turnover MCHF 120 100 109.0 80 81.3 60 61.9 62.9 40 39.7 20 0 2005 2006 2007 Half year Annual MCHF H1 2007 H1 2006 % change Turnover 676.7 577.1 +17.3 Other net operating income 1.6 -0.1 - Operating inc
Slide 18: H1 2007 Highlights: Net Profit - Group share
H1 2007 Highlights Net Profit - Group share
Slide 19: Net Profit - Group share
Net Profit - Group share Net Profit - Group share up 38.6% MCHF 70 60 61.7 50 40 30 39.1 20 28.5 28.2 10 19.3 0 2005 2006 2007 Half year Annual
Slide 20: Net Profit - Group share
Net Profit - Group share H1 2007 H1 2006 % change MCHF Operating profit 81.3 62.9 +29.3 Net financial income 1.2 1.5 -18.6 Share of profit of equity accounted companies 9.8 0.4 Profit before tax 92.3 64.8 +42.5 Income tax -35.4 -27.5 +28.8 Profit for the year from 56.9 37.3 +52.6 continuing operatio
Slide 21: Net financial result
Net financial result H1 2007 H1 2006 MCHF Net profit on financial assets 0.3 3.3 Net interest income 2.5 0.5 Net exchange rate result -0.9 -3.1 Other net financial income -0.7 0.8 Total 1.2 1.5
Slide 22: Consolidated Balance Sheet at 30 June 2007
Consolidated Balance Sheet at 30 June 2007
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS LIABILITIES June 2007 Dec 2006 MCHF June 2007 Dec 2006 MCHF Tangible fixed assets 39.4 39.5 Capital 13.7 13.7 Intangible fixed assets 33.4 33.0 Share premium 24.3 22.4 Investments in associates 16.9 1.1 Treasury shares - - Unavailable cash 19.5 15.5 Reserves & curre
Slide 24: Stock Market
Stock Market Compagnie Financiére Tradition
Slide 25: Stock Market Data
Stock Market Data Compagnie Financière Tradition shares • Stock No. : 1,248,815 • Listing : SWX Zurich • No. of shares : 5,488,357 • Nominal value : CHF 2.50 • Capital : CHF 13.7 million • Free float : 32.82%
Slide 26: Stock Market Data
Stock Market Data YTD performance (29 Dec 06) 1 year performance (30 June 06) 120 160 115 150 CFT.S 110 140 SSMI 105 SPIX 130 100 120 95 110 90 100 29/12/2006 29/01/2007 28/02/2007 29/03/2007 29/04/2007 29/05/2007 29/06/2007 29/07/2007 29/08/2007 90 30/06/2006 30/07/2006 30/08/2006 30/09/2006 30/10/
Slide 27: 2007 First Half Results
2007 First Half Results Zurich - 4 September 2007
Compagnie Financière Tradition — H1 2007 Earnings Presentation on 6ix