Compagnie Financiere Tradition Sa · SIX:CFT
Compagnie Financiere Tradition Sa — FY2019 Earnings Presentation
16 slides from Compagnie Financiere Tradition Sa's earnings presentation, Mar 13, 2020
Slide 1: Compagnie Financière Tradition FY 2019 Results
Compagnie Financière Tradition FY 2019 Results Zurich, March 2020
Slide 2: Key figures performance and financial position as of 31 December 2019
Key figures performance and financial position as of 31 December 2019 CHF CHF 1,012m 60m Net profit – Revenue* Group share CHF CHF 108m ~707m Underlying Market operating capitalization1) profit* Compagnie Financière Tradition CHF CHF 175m 421m Net cash Shareholders’ position* equity** 2 *Adjusted ba
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 1'800 600 Cie in 1997 Phase 1 Phase 2 Phase 3 Phase 1 – • Return to profitability 1'600 1997 to • Built critical market share 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 Revenues 38% only Equivalent to ~$1bn of Mid-sized specialists <USD 80m revenues 43% Small / micro firms <USD 30m 4
Slide 5: Growth in adjusted revenue of 4.7% in constant currencies to CHF 1,012.4m
Growth in adjusted revenue of 4.7% in constant currencies to CHF 1,012.4m with net profit Group share up 18.8% to CHF 60.4m FY 2019 performance summary, in mCHF • Overall reported revenue growth 5.1% in +4.7% +5.1% +6.6% +12.7% +3.0% +16.5% +18.8% constant currencies • Continued recruitment efforts
Slide 6: Revenue overview
Revenue overview Global and diverse product offering Group adjusted revenue Adjusted revenue by business M CHF M CHF 971.7 1'012.4 2018 2019 +4.7% IDB 88.4 +5.0% Non-IDB 87.0 975.7 Joint ventures 935.0 -2.7% Subsidiaries 36.7 36.7 (reported) 884.7 924.0 2018 2019 Adjusted revenue by region IDB reven
Slide 7: Geographies
Diversified revenue portfolio both in terms of geographies and asset classes Breakdown by region in FY 2019 United Asia Pacific; Kingdom; 28% 32% Europe, Middle East, Africa • United Kingdom, Americas • France, Asia Pacific Geographies • USA, • Belgium, • Japan, • Argentina, • Germany, • China Mainl
Slide 8: Products
Diversified revenue portfolio both in terms of geographies and asset classes Breakdown by product in FY 2019 Non IDB; 4% Currencies and Securities and Commodities; IDB: 96% rates security derivatives Commodities Non-IDB 21% • Interest rate • Government • Oil • Gaitame.com – derivatives bonds • Elect
Slide 9: Adjusted underlying operating profit up 6.6% to CHF 107.9m
Adjusted underlying operating profit up 6.6% to CHF 107.9m Adjusted underlying operating profit IDB headcount trend (Variation at constant rates) 2'260 2'282 margin +6.6% Exceptional 2'114 2'084 2'168 M CHF 10.7% items 10.4% 107.9 Non IDB 101.1 16.0 1'439 1'507 1'534 15.4 IDB 1'414 1'380 85.7 91.9 7
Slide 10: Gaitame.com improved performance with EBITDA margin reaching 49% in FY 2019
Gaitame.com improved performance with EBITDA margin reaching 49% in FY 2019 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) -2.7% margin +0.8% 47% 49% 37% 70.4 73.4 73.5 39% 30%
Slide 11: Net profit – Group share up 18.8% to CHF 60.4m
Net profit – Group share up 18.8% to CHF 60.4m Net profit – Group share M CHF FY 2019 FY 2018 Change Change Interest expense on bank borrowings and bonds (net) -6.4 -5.1 at at current constant Interest expense on lease liabilities -2.9 - exchange exchange M CHF FY 2019 FY 2018 rates rates Net foreig
Slide 12: Shareholder's equity Group share of CHF 420.8m; adjusted net cash of CHF 175m
Shareholder’s equity Group share of CHF 420.8m before deduction of own shares of CHF 24.0m. Adjusted net cash of CHF 175m. Assets Equity and Liabilities M CHF 31.12.19 31.12.18 M CHF 31.12.19 31.12.18 Property, Plant & Equipment 28.9 27.8 Capital 18.6 18.2 Right-of-use assets 59.3 - Share premium 44
Slide 13: Shareholders' equity of CHF 440m and net cash position of CHF 175m
Shareholders’ equity of CHF 440m and net cash position of CHF 175m1) Net cash position trend Shareholders’ equity breakdown Cash in JVs Financial debts** Unavailable cash, non-current Capital and share premium Consolidated reserves Currency translation Treasury shares Minority interests 398.4 401.3
Slide 14: Consistent dividend payout
Business model incorporate a strong operating upside Consistent dividend payout Performance trend between 2005 to 2019* Dividend payout trend 2005 to 2019 (in CHFm) Revenue Underlying operating profit 1'800 Net profit Group share 500 1'600 1'556 450 1'417 8.0 8.0 8.0 1'400 1'353 400 6.0 7.0 5.0 5.0
Slide 15: CFT, a Swiss group ranked amongst the top 3 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 Track record of agility to cope with market cycles and structural trends (growth, innovation, cost 1 management) Growth opportunities arising
Slide 16: Thank you
4STradition Thank you Global Leaders In Interdealer Broking /
Compagnie Financière Tradition — FY2019 Earnings Presentation on 6ix