COMPAGNIE FINANCIÈRE TRADITION SA

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Compagnie Financiere Tradition : 2021 Results

03/18/2022 | 08:23am EDT

FY 2021 Results

18 March 2022

Key figures performance and financial position as of 31 December 2021

CHF

100m

Underlying

operating

profit*

CHF

CHF

65m

951m

Net profit -

Revenue*

Group share

CHF

~800m

Market

capitalization1)

Compagnie Financière Tradition

CHF

CHF

203m

442m

Net cash

Shareholders'

position*

equity**

2

*Adjusted basis including group share of joint ventures **Before deduction of own shares of CHF 12.5m. Reported shareholder equity amount to CHF 429.7m as at 31 December 2021. 1) Based on closing share price on 17 March 2022

Normalization of activities in FY2021 in two stages; Improved performance vs FY2019

FY 2021 performance summary, in mCHF

  • Adjusted revenue down 2.5% to CHF 950.8m
    • 1H21 down 9.9% against very volatile markets in
      1H20 in the context of COVID-19
    • 2H21 up 6.8%
  • "Net exceptional items" down to CHF 5.8m from CHF 10.5m in 2020
  • Net financial result improved mainly due to lower interest costs on Group financing and lower FX impacts
  • Effective tax rate of 22% (2020: 18%)
    Balance sheet
  • Shareholder's equity Group share of CHF 420.0m before deduction of own shares of CHF 12.5m. Adjusted net cash up to CHF 203m* (31.12.20 : 195m)
  • Proposed cash dividend of CHF 5.0 per share; ; distribution of treasury shares (1:100 with partially paid from capital reserve)
  • January and February activity level slightly up compared with last year

-3.3%

-2.9%

-8.0%

-10.6%

+0.4%

-1.6%

-5.5%

924.0 903.0

873.6

margin

2021

margin

2020

margin

2019

11.3%

10.7% 10.5%

107.9111.0

99.9 9.3%

84.1

8.4%

86.9 85.0

7.1%

73.2

72.4

74.6 71.5

65.5

70.9

64.3

65.3

60.4

vs 2020

Increase volatility from crisis in Ukraine; Limited underlying

Revenue

Underlying

Reported

Profit before tax

Net profit

Net profit Group

activity in relation to products and counterparties. Delays

operating profit

operating profit

share

in the settlement cycle of securities denominated in ruble

(adjusted basis)

-5.5%

+0.5%

-0.1%

+20.2

+26.2%

+19.2%

+15.6%

3

* Adjusted from variation in MP activities and including Group share of cash in JV

(variation y-o-y in constant currency)

(Adjusted revenue variation y-o-y in constant currency)

vs 2019

Revenue overview

From reported to adjusted revenue

Group adjusted revenue

M CHF

Joint ventures

Subsidiaries (reported)

-2.5%

1 012.4

981.2

950.8

88.4

78.2

77.2

924.0

903.0

873.6

2019 2020 2021

4

Adjusted revenue by business

M CHF IDB

-2.8%

975.7946.8917.0

474.7

409.1

+6.1%

442.5

H2

H1

537.7

-9.8%

501.0

474.5

2019

2020

2021

Non-IDB

+3.8%

36.7

34.4

33.8

H2

17.2

14

+28.2%

17.3

H1

20

19.5

-13.8%

16.5

2019

2020

2021

(All variation at constant rates)

Diversified revenue portfolio both in terms of geographies and asset classes

Geographies

Americas

USA,

  • Argentina,

Chile,

  • Colombia,
  • Mexico
  • Brazil (Minority)

Europe, Middle East,

Africa

United Kingdom,

Asia Pacific

France,

Belgium,

Japan,

Germany,

China Mainland (JV

Italy,

with PingAn),

Israel,

Hong Kong,

Luxembourg,

India,

Monaco,

Indonesia

Netherlands

Singapore,

Russia,

South Korea,

South Africa,

Australia,

Spain,

New Zealand

Switzerland,

Philippines,

UAE

Thailand

Breakdown by region in FY 2021

Asia Pacific;

United

Kingdom;

28%

32%

Americas;

Continental

28%

Europe; 12%

Trend by region

Non IDB

APAC

Americas

CE

UK

3%

4%

4%

3%

4%

25%

23%

24%

24%

24%

revenueAdjusted regionby

+1.9%

+0.6%

-7.2%

981.2

950.8

2020

Europe

Americas

Asia-Pacific

FX

2021

30%

30%

29%

28%

28%

10%

10%

11%

14%

12%

32%

33%

32%

31%

32%

2017

2018

2019

2020

2021

5

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Disclaimer

CFT - Compagnie Financière Tradition SA published this content on 18 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2022 13:22:03 UTC.


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Sales
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Net Debt
P/E ratio
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Capitalization 810 M 834 M -
EV / Sales -1
EV / Sales 0
Nbr of Employees 2 450
Free-Float 20,8%
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Last Close Price 102,00
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Managers and Directors
François Brisebois Chief Financial Officer
Patrick Combes Chairman
Jean-Marie Descarpentries Independent Non-Executive Director
Herve Pierre Benoit Carmen de Carmoy Independent Non-Executive Director
François Carrard Deputy Chairman
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