Earnings release
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Paris, 4 September 2026 COMMUNIQUÉ DE PRESSE GROWTH IN RESULTS FOR THE FIRST HALF OF 2026 Consolidated revenue up 6.5%* to €696.0 million (11.5% at constant exchange rate) Operating income of €133.8 million, up 7.2%* (including associated companies) (12.4% at constant exchange rate) Net income of €106.8 million (+11.6%*) Net income attributable to the group of €77.3 million (+11.8%*) (17.2% at constant exchange rate) '* at current exchange €M H1 2026 H1 2025 Variation* at variable exchange rates Variation* at constant exchange rates Revenue 696.0 653.5 6.5% 11.5% Other operating income 1.6 1.7 -6.8% -5.4% Operating income 697.6 655.2 6.5% 11.5% Operating expenses -589.2 -551.5 6.8% 11.9% Operating profit 108.5 103.7 4.6% 9.1% Share of profit of associates 25.3 21.1 19.9% 28.6% Operating income incl.associates 133.8 124.8 7.2% 12.4% Financial result -0.4 -2.2 83.4% 86.2% Profit before tax 133.4 122.6 8.8% 14.2% Income tax -26.6 -27.0 -1.4% 2.7% Net profit for the period 106.8 95.6 11.6% 17.4% Group share 77.3 69.2 11.8% 17.2% Minority interests 29.5 26.5 11.3% 17.8% **Based on data calculated in thousands of euros. The variations in income statement items at variable exchange rates are calculated based on average rates for the period compared with average rates for the previous period when translating the currencies of the Group's consolidated subsidiaries. The variations in income statement items at constant exchange rates are calculated using the average exchange rates for the period N-1 over both comparison periods.
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Overview of activities In the first half of 2026. VIEL & Cie continued its growth momentum. Compagnie Financière Tradition continued its growth momentum in the first half of 2026, building on the positive momentum observed in previous years . The Tradition Group recorded revenue growth across all asset classes and regions up 10.4% at constant exchange rates, including joint ventures, to CHF 646.2 million. Its profitability improved, with net income attributable to the group of CHF 79.1 million, up 22.5% at constant exchange rates. Bourse Direct continued to grow , with a 16.7% increase in the number of orders executed , and an operating income growth up to 23.0% at €15.9 million. Swisslife Private Bank posted stable revenue and a slight decrease in its contribution to VIEL & Cie's earnings. Consolidated results VIEL & Cie recorded sustained growth in its business in the first half of 202 6, with consolidated revenue of €696.0 million. up 6.5% at current exchange rates. At constant exchange rates, revenue rose 11.5% to €728.8 million. Consolidated operating income. including VIEL & Cie's equity -accounted companies, amounted to €133.8 million, compared with €124.8 million for the same period in 202 5, an increase of 7.2%. At constant exchange rates. this operating income is up 12.4% compared to 2025. The contribution from associates and joint ventures thus increase by 28.6% at constant exchange rates to €25.3 million, growth driven mainly by the Group’s activities in the retail sector in Japan. The financial result recorded a net loss of €0.4 million in 2026, compared with net loss of €2.2 million for the same period in 2025. This increase is mainly attributable to a reduction in foreign -exchange losses resulting from movements in exchange rates. Pre-tax income amounted to €133.4 million in the first half of 2026, up 14.2% at constant exchange rates. VIEL & Cie's consolidated net income rose 11.6% at current exchange rates to €106.8 million in the first half of 2026. compared with €95.6 million in the same period in 2025. VIEL & Cie's net income - group share amounted to € 77.3 million. up 17.2% at constant exchange rates. Balance sheet The Group maintained its focus on a strong balance sheet based on substantial equity by reducing the level of intangible assets and maintaining a strong net cash position. The results for the first half of 202 6 bring VIEL & Cie's consolidated shareholders' equity to € 788.8 million as of June 30, 2025, including €613.7 million for the Group's share and after deduction of the gross value of treasury shares held by VIEL & Cie itself in the amount of €24.0 million (representing a value of €72.0 million at the June 30, 2026, share price).
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The limited review procedures on the consolidated half -year financial statements were carried out by the statutory auditors. Their limited review report is currently being issued. Outlook In its professional brokerage business, Compagnie Financière Tradition intends to continue its policy of primarily organic growth, drawing on its positioning in global financial markets, the expertise of its teams and the diversity of its brokerage offering. It also aims to increase its investment in the digitalisation of its brokerage activities, hybrid solutions and its data and analytics operations, by drawing on its in-house expertise in data science and artificial intelligence. Furthermore, maintaining a sound financial structure and rigorous cost management will remain essential to preserving the flexibility required for the Group’s development and strengthening its long-term resilience. In its online retail business in France, Bourse Direct’s growth has been sustained since the start of the year by higher order volumes and rising interest rates. The company is continuing its growth momentum with over 425,000 accounts and a young client base attracted by its stock market offering. Bour se Direct is continuing to diversify its services (scheduled investments, securities lending), its products (a wide range of ETFs and crypto ETNs) and its range of offerings (investments, life insurance and pension savings plans). VIEL & Cie comprises thr ee areas of activity in the field of finance: Compagnie Financière Tradition . present in more than 30 countries . the world's third-largest player in the professional intermediation sector with more than 2 .600 employees worldwide; Bourse Direct . a major player in online trading in France; and a 40% equity interest in SwissLife Banque Privée . which operates in the private banking sector in France. VIEL & Cie shares (codes: FR0000050049 . VIL) are listed in Compartment B of Euronext Paris. For mor e information on our Group. please visit our website at www.viel.com. Contacts : VIEL & Cie Catherine NINI Chief Financial Officer T : + 331 56 43 70 20 Image 7 Juliette Mouraret T : + 331 53 70 74 93