SIX-listed Compagnie Financière Tradition (CFT) posted group net profit of 79.1 million francs in the first half of 2026, according to figures published on Friday. This represents an increase of 12.6 percent from 70.2 million francs in the same period last year.

At constant exchange rates, the increase would have been considerably higher at 22.5 percent. Earnings per share also improved, rising by 14.1 percent from 9.14 to 10.43 francs.

Strong Franc Leaves Its Mark

The Swiss franc’s appreciation against several currencies, particularly the US dollar and the Japanese yen, had a significant impact on the figures reported in francs.

Including the proportionate share of joint ventures, revenue therefore increased by just 2.2 percent in reported terms to 646.2 million Swiss francs. At constant exchange rates, growth amounted to 10.4 percent.

Revenue in the core interdealer broking (IDB) business also rose by 10.4 percent at constant exchange rates to 623.3 million francs. The Japanese retail broking business grew by 8.9 percent on the same basis to 22.9 million francs. Tradition’s data and analytics business recorded double-digit growth at constant exchange rates.

Improved Profitability

The currency impact was also evident in operating performance. Ebitda, including joint ventures, reached 120.1 million francs, compared with 114.7 million francs a year earlier.

This represented an increase of 4.8 percent in reported terms and 13.8 percent at constant exchange rates. The negative currency impact on Ebitda alone amounted to 9.5 million francs.

At the same time, the Ebitda margin improved from 18.1 percent to 18.6 percent.

Under IFRS, excluding the proportionate consolidation of joint ventures, revenue rose by 3.1 percent to 597.8 million francs. Operating profit remained virtually unchanged at 88 million francs but would have increased by 7.4 percent at constant exchange rates.

Joint Ventures Deliver Higher Earnings

The contribution from associates and joint ventures also developed positively, rising from 12.1 million to 16.1 million francs. At constant exchange rates, this corresponded to an increase of 51 percent.

Tradition attributed the rise primarily to Gaitame’s successful integration of Money Partners Group and strong business performance.

At the same time, the tax charge declined from 21.9 million to 20.4 million francs, while the effective tax rate fell from 26.1 percent to 23.4 percent.

Further Investment in Digitalisation and AI

Tradition is focusing primarily on organic growth for its future development. It plans to recruit additional front-office staff and expand its offering across various regions.

The company also intends to continue investing in the digitalisation of its brokerage business, hybrid solutions, and its data and analytics capabilities. Its expertise in data science and artificial intelligence is expected to play a greater role in these efforts.

The technologies are intended both to enhance front-office operations and to make processes in support functions more efficient.

Present in More Than 30 Countries

Consolidated equity stood at 514.4 million francs at the end of June, compared with 511.5 million francs at the end of 2025. Return on equity reached 16.1 percent in the first half.

Net cash, including the group’s share of joint ventures, amounted to 265.8 million francs.

Compagnie Financière Tradition is one of the world’s largest interdealer brokers for financial and commodity-related products. The Lausanne-based company employs more than 2,500 people and operates in over 30 countries. Its shares are listed on the SIX Swiss Exchange.