15 slides from Compagnie Financiere Tradition Sa's earnings presentation, Aug 31, 2018
Slide 1: Compagnie Financière Tradition H1 2018 Results
Compagnie Financière Tradition H1 2018 Results Zurich, August 2018
Slide 2: Key figures performance and financial position as of 30 June 2018
Key figures performance and financial position as of 30 June 2018 CHF CHF 503m 32m Net profit – Revenue* Group share CHF CHF 57m ~726m Underlying Market operating capitalization1) profit* Compagnie Financière Tradition CHF CHF 210m 426m Net cash Shareholders’ position* equity** 2 *Adjusted basis inc
Slide 3: A long established Swiss group with proven track record
A long established Swiss group with proven track record Focused on critical size and quality of balance sheet Consistent strategy since acquired by Viel & mCHF 1'400 600 Cie in 1997 Phase 1 Phase 2 Phase 3 Phase 1 – • Return to profitability 1997 to • Built critical market share 1'200 2008 Focus on
Slide 4: Estimated market share
A sector with only 3 global players, of which Tradition #3 Global majors >USD 800m 19% Estimated market share Large multi-specialists <USD 150m Broking 36% Revenues only Equivalent to ~$1bn of Mid-sized specialists <USD 80m revenues 45% Small / micro firms <USD 30m 4
Slide 5: Growth in adjusted revenue of 11.3% in constant currencies to CHF 502.7m
Growth in adjusted revenue of 11.3% in constant currencies to CHF 502.7m H1 2018 performance summary, in mCHF • Revenue growth in a positive market dynamic +11.3% +10.3% +28.3% +9.1% +25.8% +16.0% +13.1% and accelerated recruitment efforts 459.8 • Direct contribution improved by close to CHF 23m 411
Slide 6: Revenue overview
Revenue overview Global and diverse product offering Group adjusted revenue Adjusted revenue by business M CHF M CHF IDB H1 2017 H1 2018 502.7 445.7 +11.0% Non-IDB Joint ventures +11.3% 42.9 485.5 +21.4% 34.3 431.6 Subsidiaries (reported) 17.2 14.1 411.4 459.8 H1 2017 H1 2018 Adjusted revenue by reg
Slide 7: Diversified revenue portfolio by geography
Diversified revenue portfolio both in terms of geographies and asset classes Breakdown by region in H1 2018 Asia Pacific; United 26% Kingdom; Europe, Middle East, 34% Africa • United Kingdom, Americas • France, Asia Pacific Geographies • USA, • Belgium, • Japan, • Argentina, • Germany, • China Mainl
Slide 8: Diversified revenue portfolio by product
Diversified revenue portfolio both in terms of geographies and asset classes Breakdown by product in H1 2018 Non IDB 3% Currencies and Securities and Commodities 21% IDB: 97% rates security derivatives Commodities Non-IDB • Interest rate • Government • Oil • Gaitame.com – derivatives bonds • Electri
Slide 9: Adjusted underlying operating profit up 31.4% to CHF 57.0m
Adjusted underlying operating profit up 31.4% to CHF 57.0m for a margin of 11.3%; improved direct contribution Adjusted underlying operating profit IDB headcount trend (Variation at constant rates) margin Exceptional 2'168 2'214 +28.3% 2'125 2'114 2'084 M CHF items 11.3% 9.7% Non IDB 57.0 6.4 IDB 1'
Slide 10: Gaitame.com improved performance
Gaitame.com improved performance Revenue trend* EBITDA trend* M CHF M CHF At current rates At constant rates (variation at constant rates) At current rates At constant rates (variation at constant rates) +21.4% margin +86.2% 40% 43% 37.6 34.3 40% 28% 28.1 23.7 24% 15.9 15.1 14.8 3.8 9.4 7.9 H1 2014
Slide 11: Net profit – Group share up 15.7% to CHF 31.8m
Net profit – Group share up 15.7% to CHF 31.8m Net profit – Group share M CHF H1 2018 H1 2017 Change Change at at Net interest expense -2.6 -2.3 current constant exchange exchange Net foreign exchange gains/(losses) 0.5 -2.5 M CHF H1 2018 H1 2017 rates rates Gains/(losses) on financial assets at fai
Slide 12: Continued focus on strong balance sheet
Continued focus on strong balance sheet Assets Equity and Liabilities M CHF 30.06.18 31.12.17 M CHF 30.06.18 31.12.17 Property, Plant & Equipment 24.5 20.2 Capital 18.1 18.0 Intangible assets 54.0 55.0 Share premium 36.7 36.4 Investments in associates and joint ventures 138.1 135.2 Treasury shares -
Slide 13: Shareholders' equity of CHF 425.8m and net cash position of CHF 210m
Shareholders’ equity of CHF 425.8m and net cash position of CHF 210m1) Gross adjusted cash balance of CHF 449m; unused credit facilities above CHF 100m Net cash position trend Shareholders’ equity breakdown Cash in JVs Financial debts* Unavailable cash, non-current Capital and share premium Consolid
Slide 14: CFT, a Swiss group ranked amongst the top 3 worldwide in its sector
Outlook 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 Arbitrage Capture organic and/or external growth opportunities in its core business, between team 1 recruitments arising from sector c
Slide 15: Thank you
4STradition Thank you Global Leaders In Interdealer Broking /