In 2002, GL TRADE maintained strong growth despite tough market conditions. Sales grew by 26% to EUR128.9m from EUR102m in 2001. 2002 sales include a EUR3.3m contribution from Japanese firm CGI International, which was acquired in April 2002.
Growth would have been 1.1% higher had it not been for adverse exchange rate movements. GL TRADE’s extensive international network means that it has substantial exposure to currency movements – the group currently generates 43% of its sales outside the eurozone, of which 57% are in sterling, 22% in US dollars and 19% in Asian currencies.
Net profit before goodwill amortisation rose in line with sales, and net margin was stable at 13.2%. The rise in net profit after goodwill amortisation was higher (38%) due to amortisation periods for previous acquisitions coming to term.
GL TRADE anticipates that the business environment for financial institutions will remain difficult in 2003. Customers will continue to look for efficiency improvements from their trading solutions as well as cost savings.
In 2002, GL TRADE focused on designing electronic trading and clearing solutions that provide customers with a rapid return on investment. These designs will start bearing fruit in terms of sales in 2003. These solutions are an ideal response to customer requirements, by increasing activity levels (access to new markets via GL NET), boosting productivity and reducing costs (STP, GL WINSIGHT solutions). More new solutions that fit with this strategy will be launched in 2003.
GL TRADE will also use partnerships to offer customers unique products in complementary business areas.
GL TRADE aims for growth of around 15% in 2003, while maintaining net margin before goodwill amortisation at around 13%.
Established in 1987, GL TRADE is a provider of real-time financial data feed, trading and clearing solutions. Headquartered in Paris, GL TRADE has offices in 19 countries and employs over 850 people worldwide. It has over 3,500 clients, including 500 international financial institutions.
Its principal activities are the sale and support of electronic routing systems and electronic exchange interfaces for both financial equity and derivative markets. GL TRADE operates via its proprietary trading network, GL NET, on more than 60 electronic markets around the world.
Since its creation, GL TRADE has experienced consistent profit growth. In 2002, GL TRADE’s sales were EUR128.9m, 26% increase over 2001.GL TRADE is listed on the Nouveau Marche and joined the NextEconomy segment in 2002.