Compagnie Financière Tradition registers decline in revenues in 2020
Interdealer broker Compagnie Financière Tradition today posted some key financial metrics for 2020, as activity grew in the year, up 3.4% at constant exchange rates.
The Group’s consolidated adjusted revenue was CHF 981.3 million for 2020, down from CHF 1,012.5 million in 2019. However, this was an increase of 2.4% at constant exchange rates with the interdealer broking business (IDB) up 2.6% at constant exchange rates while the Forex trading business for retail investors in Japan (Non-IDB) was down 3.0%.
At current exchange rates, Tradition reported consolidated revenue of CHF 903.1 million compared with CHF 924.1 million in 2019, down 2.3%.
In the fourth quarter, reported consolidated revenue was CHF 204.6 million compared with CHF 219 million in the fourth quarter 2019, however up 0.6% at constant exchange rates. While the US elections did not generate additional volatility, the company saw an increase in activity over the months of November and December.
The Group’s consolidated adjusted revenue was CHF 220.9 million against CHF 238.1 million in 2019, down 0.2% at constant exchange rates with IDB flat and Non-IDB down 3.9%.
Let’s recall that, in the third quarter of 2020, Compagnie Financière Tradition’s activity decreased with reported consolidated revenue of CHF 185.7 million compared with CHF 230.8 million in 2019, representing a decrease of 14.4% at constant exchange rates. Let’s note that, in the second quarter of 2020, consolidated revenue was CHF 235.5 million.
For the third quarter of 2020, the Group’s consolidated adjusted revenue was CHF 202.4 million, compared with CHF 253.9 million in the equivalent period in 2019, down 15.2% at constant exchange rates with IDB down 15.0% and Non-IDB down 20.5% respectively.