Compagnie Financiere Tradition Sa · SIX:CFT

Compagnie Financiere Tradition Sa — H1 2006 Earnings Presentation

28 slides from Compagnie Financiere Tradition Sa's earnings presentation, Sep 26, 2006

  1. Slide 1: 2006 First Half Results

    2006 First Half Results Zurich - 26 September 2006

  2. Slide 2: Key Figures

    Key Figures Compagnie Financiére Tradition

  3. Slide 3: Key Figures: Turnover and Operating Profit

    Key Figures Turnover: MCHF 596.7 CHF m 1000 800 942.4 600 596.7 400 458.6 200 0 2005 2006 Operating profit: MCHF 60.5 Operating margin: 10.1% CHF m CHF m 600 12% 70 10.1% 500 10% 60 61.7 400 7.8% 8% 50 60.5 300 6% 40 458.6 596.7 200 4% 30 35.7 100 2% 20 35.7 60.5 0 0% 10 S1 2005 S1 2006 0 Turnover O

  4. Slide 4: Key Figures: Net Profit and Shareholders' Equity

    Key Figures Net profit Group share: MCHF 28.2 Shareholders’ equity: MCHF 244.1 CHF m CHF m 30 28.5 250 28.2 25 24.8 22.0 20 19.3 200 15 214.8 219.3 10 150 5 31/12/2005 30/06/2006 0 Group Minoritaries 2005 2006

  5. Slide 5: Tradition Profile

    Tradition Profile Compagnie Financiére Tradition

  6. Slide 6: Continued Attractive Market Dynamics

    Continued Attractive Market Dynamics -GFI listed - Icap buys EBS - Refco listed and delisted - CSTL - CSTL plans To approached demerge - Exco by VCs - Creditex and merges - Euronext CrediTrade with buys MTS merge Garban - M&A activity - Collins - GFI buys - Prebon - Icap in the - Tullet is Stewart A

  7. Slide 7: One of the Top Few Participants in a Buoyant Industry

    One of the Top Few Participants in a Buoyant Industry 3000+ clients – 2000+ employees – 20 locations # 3 « IDB » worldwide Track Record Innovation Global coverage of Thanks Organic Growth to Technology Founded in 1959 in Lausanne – Listed on SWX since 1973

  8. Slide 8: Tradition, a Global Coverage

    Tradition, a Global Coverage Western Europe (London, Brussels, Frankfurt, Luxembourg, Paris, Munich, Lausanne, Milan, Copenhagen) Moscow Stamford Houston New York Beijing Tokyo Shanghai Mexico Dubai Hong Kong Singapore Sao Paulo Santiago Johannesburg Sydney Buenos Aires A presence in 20 countries, w

  9. Slide 9: Tradition, a One Stop Shop Service

    Tradition, a One Stop Shop Service Exchange memberships: Money market and AMEX, Bondex, CME, EEX, EUREX, interest rate and currency Euronext Liffe, LSE, NYSE, OFEX, derivatives Safex, SGX, Xetra z Money markets z Interest rate derivatives z Currency options Tradition is particularly strong in the fo

  10. Slide 10: Financial Results at 30 June 2006

    Financial Results at 30 June 2006

  11. Slide 11: Turnover

    Financial Results at 30 June 2006 Turnover

  12. Slide 12: Turnover

    Turnover Up 30.1% on H1 2006 at current exchange rates (27.1% at constant exchange rates) CHF m 1000 900 942.4 800 700 600 500 596.7 400 458.6 300 200 100 0 2005 2006 Half year Annual

  13. Slide 13: Record Revenues for Tradition in the First Half

    Record Revenues for Tradition in the First Half Quarterly and half year revenues in constant terms - based on H1 2005 average exchange rates CHF m +22.8% +31.4% CHF m 300 +27.1% 600 200 500 400 300 100 200 100 0 0 Q1 Q2 Q3 Q4 H1 H2 2005 2006 2005 2006 Two strong quarters

  14. Slide 14: Revenue Split by Geography / Product

    Revenue Split by Geography / Product Two quarters driven by money markets and interest rate derivatives, equities and equity derivatives, commodity-related markets and online retail businesses Turnover by product segment Turnover by geographic region At 30.06.2006 At 30.06.2006 6.0% 10.1% 50.8% 31.1

  15. Slide 15: Operating Profit

    Financial Results at 30 June 2006 Operating profit

  16. Slide 16: Operating Profit

    Operating Profit Up 69.4% on H1 2006 Operating margin improves to 10.1% of consolidated turnover CHF m 60 61.7 50 60.5 40 30 35.7 20 10 0 2005 2006 Half year Annual

  17. Slide 17: Operating Profit

    Operating Profit Operating profit rose by 69.4% CHF m June 2006 June 2005 % change Net turnover 596.7 458.6 +30.1 Other operating income -0.1 3.4 Operating income 596.6 462.0 +29.1 Operating expenses -536.1 -426.3 +25.6 Operating profit 60.5 35.7 +69.4 Operating margin in % 10.1 7.8

  18. Slide 18: Operating Profit

    Operating Profit Operating margin: 10.1% in H1 2006 against 7.8% in H1 2005 H1 H1 % of turnover 2006 2005 Personal costs 66.7 68.8 - operational 59.7 61.4 - administrative 7.0 7.4 Variable part / personnel costs 41.7 37.2 Telecoms & Data 6.5 7.2 Travel and business expenses 5.2 5.6 Rent 1.8 2.3 Othe

  19. Slide 19: Operating Profit: Movements in Operating Margin

    Operating Profit Movements in operating margin H1 H1 % of turnover 2006 2005 2005 Personal costs 66.7 68.8 68.8 - operational 59.7 61.6 61.4 - administrative 7.0 7.2 7.4 Variable part / personnel costs 41.7 35.4 37.2 Telecoms & Data 6.5 7.7 7.2 Travel and business expenses 5.2 6.1 5.6 Rent 1.8 2.2 2

  20. Slide 20: Net Profit - Group Share

    Financial Results at 30 June 2006 Net Profit - Group Share

  21. Slide 21: Net Profit - Group Share

    Net Profit - Group Share Net profit - Group share of CHF 28.2 million (H1 2005: CHF 19.3 million) CHF m 30 25 28.5 28.2 20 15 19.3 10 5 0 2005 2006 Half year Annual

  22. Slide 22: Net Profit - Group Share

    Net Profit - Group Share Net profit - Group share: +46.3% CHF m June 2006 June 2005 % change Operating profit 60.5 35.7 +69.4 Net financial income 1.9 4.8 -59.8 Share of profit of equity accounted companies 0.4 -0.1 Profit before tax 62.8 40.4 +55.6 Income tax -26.7 -15.1 +76.9 Net profit 36.1 25.3

  23. Slide 23: Consolidated Balance Sheet at 30 June 2006

    Consolidated Balance Sheet at 30 June 2006

  24. Slide 24: Summary Consolidated Balance Sheet

    Summary Consolidated Balance Sheet ASSETS LIABILITIES CHF m CHF m H1 2006 2005 H1 2006 2005 Shareholders’ equity 244.1 236.8 Non-current assets 126.7 115.4 Non-current liabilities 28.1 29.9 Current assets 1,171.8 1 147.6 Current liabilities 1,029.3 1,000.7 Liabilities directly related to non- Non-cu

  25. Slide 25: Stock Market Data

    Stock Market Data Compagnie Financiére Tradition

  26. Slide 26: Stock Market Data

    Stock Market Data Compagnie Financière Tradition shares • Stock No. : 1,248,815 • Listing : SWX Zurich • No. of shares : 5,468,357 • Nominal value : CHF 2.50 • Capital : CHF 13.7 million • Free float : 32.57% • Dividend 2005 : CHF 6.0 • Yield 2006 : 3.85%* • Based on a share price of CHF 155.7 at 14

  27. Slide 27: Stock Market Data

    Stock Market Data Annualised increase in share price: 37.8% since September 1996 150% 140% 130% 120% 110% 100% 90% CFT SMI 80% 12/04 03/05 06/05 09/05 12/05 03/06 05/06 08/06 Since 31.12.05* Since 31.12.96* Annualised increase 96-06* CFT + 16.2% + 2,371.4% + 37.8% SMI + 7.9% + 107.5% + 7.6% * At 14

  28. Slide 28: Tradition's Strategic Objectives

    Tradition’s Strategic Objectives (1980) - 1996 - 2005 2005 Onwards… Build Build Size Size & & Scale Scale Continue Continue to to build build Size Size & & Scale Scale Implement Implement Cost Cost Reduction Reduction Establish Establish Global Global Coverage Coverage Programmes Programmes regularl

Compagnie Financière Tradition — H1 2006 Earnings Presentation on 6ix