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%
- 1H21 down 9.9% against very volatile markets in
- "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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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.