VIEL & Cie (VIL) H2 2025 earnings summary

Executive summary

• Achieved strong growth in 2025 amid complex macroeconomic conditions, including monetary policy shifts and increased global trade tensions.

• Revenue rose 7.4% at current exchange rates and 10.7% at constant rates to €1,266.9 million.

• Operating profit increased 19.5% at current rates (22.7% at constant) to €236.6 million, with net profit up 7.2% to €178.4 million.

Financial highlights

• Operating margin improved to 15.2% from 13.0% year-over-year.

• Net profit attributable to group share reached €126.4 million, up 4.7% at current rates and 7.8% at constant rates.

• Dividend proposed at €0.54 per share, a 14.9% increase from the prior year.

• Net financial result turned negative at -€8.5 million, mainly due to adverse FX and lower interest income.

Outlook and guidance

• Interdealer broking business started 2026 strongly, with activity up year-over-year at constant exchange rates.

• Focus remains on organic growth, investment in hybrid broking and data analytics, and maintaining a strong balance sheet.

• Online trading in France remains buoyant amid increased market volatility; interest income stable.

• Swisslife Banque Privée to continue its growth strategy in 2026.