VIEL & Cie (VIL) H1 2025 earnings summary

Executive summary

• Consolidated revenue rose 9.4% year-over-year to €653.5 million in H1 2025, reflecting strong growth momentum across all business lines.

• Operating income increased 15.6% year-over-year to €124.8 million, including associates.

• Net income attributable to the group reached €69.2 million, up 5.7% year-over-year.

Financial highlights

• Operating profit grew 25.9% year-over-year to €103.7 million, with an operating margin of 15.9% versus 13.8% in H1 2024.

• Operating expenses increased 6.8% to €551.5 million.

• Financial result turned negative at -€2.2 million, mainly due to €7 million lower foreign exchange gains.

• Pre-tax income rose 10.7% to €122.6 million.

• Net income for the period was €95.6 million, up 7.5% year-over-year.

Outlook and guidance

• Focus remains on organic growth, investment in hybrid brokerage, and data analytics capabilities.

• Cost management and balance sheet strength are strategic priorities.

• Online trading activity remains robust amid high market volatility; interest income remains elevated but tracks interest rate trends.