Viel & Cie: Revenue Up by 10.5% in Q1 2026, 18.5% at Constant Exchange Rates
Viel & Cie's financial group continues its growth trajectory in the first quarter of 2026 with consolidated revenue of 364.8 million euros. However, this 10.5% increase at current exchange rates masks a more vigorous underlying dynamic: at constant exchange rates, growth reaches 18.5%, for a revenue of 391.5 million euros. This divergence highlights the significant impact of exchange rate fluctuations on the euro translation of the group's international activities, particularly at the start of the year.
This situation raises questions about the sustainability of this growth once exchange rate effects are neutralized and underscores the significant impact of currency movements on the euro conversion of the group’s international activities.
An 18.5% Growth at Constant Exchange Rates, Eroded by Currency Fluctuations
The group reports consolidated revenue of 364.8 million euros for the first quarter of 2026, up by 10.5% at current exchange rates. This increase takes on a different magnitude when measured at constant exchange rates: the revenue then amounts to 391.5 million euros, an increase of 18.5% compared to the same period of the previous year.
The 8-point gap between the two growth rates reflects the significant impact of currency movements on the conversion of the group's international activities. This currency volatility particularly affected performance at the beginning of 2026.
Professional Brokerage Remains the Main Driver
The Compagnie Financière Tradition division, positioned as the third global player in the sector of derivative instrument brokers (IDB), remains the main contributor to consolidated revenue. This professional brokerage activity benefits from an established presence in 30 countries and a global workforce of more than 2,600 employees.
The group also includes Bourse Direct, a leader in online trading in France, and holds a 40% stake in SwissLife Banque, active in private wealth management in France. These three segments constitute the strategic architecture of the group in the financial sector.
