SIX Group, operator of the SIX Swiss Exchange, delivered solid first half results with operating income rising by 7.6 % to CHF 624.1m (€579.9m) and earnings before interest, taxes, depreciation and amortisation (EBITDA) jumping 32.7% to CHF 151.6 m.
Group net profit was CHF 184.2m for the first six months of the year and earnings per share stood at CHF 9.74.
The Group’s Securities & Exchanges division, which covers the operations of the SIX Swiss Exchange, saw profits surge by almost 60% to CHF 128.7m during the same time frame thanks to higher trading and post trading activities. Market turmoil spiked due to the uncertainty of Covid-19, particularly in March.
The company also attributed its strong financial performance to the sale of its 5.5.% minority stake in Worldline shares for €675 m to help fund its planned takeover of Spanish exchange operator Bolsas y Mercados Españoles (BME).
The deal included the sale of around 10 m Worldline shares via an accelerated book building and the unwinding of an equity collar transaction on the shares from October 2019 that contributed another 1m shares for sale.
In June, SIX completed the €2.8 bn takeover of BME, catapulting it to Europe’s third largest stock exchange operator and the 10th biggest globally by revenues.
A month later, the BME Board of Directors appointed SIX CEO Jos Dijsselhof as their new Chairman and ratified Daniel Schmucki, SIX CFO, and Marion Leslie, head of the financial information business unit of SIX, as new members. BME’s Board of Directors was also reduced to six members, three of which are of Spanish nationality.
Looking ahead, the Group said Covid-19 will continue to unsettle markets and significantly affect its various business areas. However, “in the past months, the business model and systems of SIX have proven to be highly resilient to any challenges that might arise,” it added.
SIX said it will continue working on its key projects “in order to promote the growth of the company and further drive the transformation of the financial markets in Switzerland and Spain”. This ranges from the operational and strategic integration of BME into the SIX organisation to the implementation of the business unit financial Information group’s new strategy.
The latter includes a stronger focus on client needs, analytics and alternative data covering environmental, social and governance criteria (ESG), as well as the alignment of the international organisation.
