Compagnie Financiere Tradition Sa · SIX:CFT
Compagnie Financiere Tradition Sa — FY2018 Earnings Presentation
16 slides from Compagnie Financiere Tradition Sa's earnings presentation, Mar 15, 2019
Slide 1: Compagnie Financière Tradition FY 2018 Results
Compagnie Financière Tradition FY 2018 Results Zurich, March 2019
Slide 2: Key figures performance and financial position as of 31 December 2018
Key figures performance and financial position as of 31 December 2018 CHF CHF 972m 51m Net profit – Revenue* Group share CHF CHF 101m ~720m Underlying Market operating profit* capitalization1) Compagnie Financière Tradition CHF CHF 189m 435m Net cash Shareholders’ position* equity** 2 *Adjusted basi
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 10.4% in constant currencies to CHF 971.7m
Growth in adjusted revenue of 10.4% in constant currencies to CHF 971.7m FY 2018 performance summary, in mCHF • Revenue growth in a positive market dynamic +10.4% +9.5% +24.7% -7.9% +9.3% +14.2% +10.5% and accelerated recruitment efforts 884.7 • Direct contribution improved close to CHF 40m 802.5 10
Slide 6: Revenue overview
Revenue overview Global and diverse product offering Group adjusted revenue Adjusted revenue by business M CHF M CHF 873.5 971.7 2017 2018 +10.4% IDB 87.0 +9.7% Non-IDB 71.0 935.0 Joint ventures 846.0 +31.9% Subsidiaries (reported) 36.7 802.5 884.7 27.5 2017 2018 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 2018 Asia Pacific; United 27% Kingdom; Europe, Middle East, 33% 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 2018 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 • Electri
Slide 9: Adjusted underlying operating profit up 24.7% to CHF 101.1m for a margin of 10.4%
Adjusted underlying operating profit up 24.7% to CHF 101.1m for a margin of 10.4%; increased exceptional costs Adjusted underlying operating profit IDB headcount trend (Variation at constant rates) margin Exceptional 2'168 2'260 +24.7% 2'125 2'114 2'084 M CHF 10.4% items 9.3% 101.1 Non IDB 80.8 15.4
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) +31.9% +109.1% margin 47% 37% 39% 70.4 73.4 30% 51.2 55.1 34.5 21% 26.2 35.4 19.9 16.3 7.4 2014
Slide 11: Net profit – Group share up 10.5% to CHF 50.8m
Net profit – Group share up 10.5% to CHF 50.8m Net profit – Group share Change Change M CHF FY 2018 FY 2017 at at Net interest expense -5.1 -4.6 current constant exchange exchange Net foreign exchange gains/(losses) 0.6 -1.3 M CHF FY 2018 FY 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 31.12.18 31.12.17 M CHF 31.12.18 31.12.17 Property, Plant & Equipment 27.8 20.2 Capital 18.2 18.0 Intangible assets 50.9 55.0 Share premium 37.4 36.4 Investments in associates and joint ventures 146.7 135.2 Treasury shares -
Slide 13: Shareholders’ equity of CHF 435.4m and net cash position of CHF 189m
Shareholders’ equity of CHF 435.4m and net cash position of CHF 189m1) Gross adjusted cash balance of CHF 428m; 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: Business model incorporate a strong operating upside
Business model incorporate a strong operating upside Consistent dividend payout Performance trend between 2004 to 2018* Dividend payout trend 2004 to 2018 (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 in its c
Slide 16: Thank you
4 Tradition Thank you
Compagnie Financière Tradition — FY2018 Earnings Presentation on 6ix