VIEL & Cie (VIL) H2 2024 earnings summary

Executive summary

• Consolidated revenue rose 9.4% to €1,179.3m at variable exchange rates, with strong growth across all business lines.

• Operating profit increased 15.0% to €197.9m including associates, reflecting improved margins and higher trading volumes.

• Net profit reached €166.4m, up 24.5% year-over-year, with group share at €120.7m, up 23.1%.

• Dividend proposed at €0.47 per share, a 17.5% increase from the prior year.

Financial highlights

• Operating margin improved to 13.0% from 11.8% in 2023.

• Operating expenses rose 8.1% to €1,030.9m.

• Financial result swung to a profit of €7.1m from a loss of €5.6m, driven by higher interest income and FX gains.

• Consolidated equity increased to €726.7m, with group share at €553.2m.

Outlook and guidance

• Interdealer broking business started 2025 strongly, with activity up year-over-year at constant exchange rates.

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

• Online trading activity remains buoyant amid market volatility; interest income remains high but tracks rate movements.

• Swisslife Banque Privée to continue its growth strategy in 2025.