SIX reports favourable H1 2020 figures
27 August 2020 Zurich
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SIX has reported a total operating income of CHF 624.1 million ($686.2 million) for H1 2020, marking a 7.6 percent year-on-year increase despite global market turmoil and volatility.
The Swiss financial infrastructure operator also saw a 32.7 percent increase in earnings compared to last year before interest, taxes, depreciation and amortisation (EBITDA) to CHF 151.6 million ($166.7 million).
It revealed a group net profit of CHF 184.2 million for H1 2020 ($202.5 million).
SIX attributed these increases to its diversified portfolio and the completion of the 10.1 million Worldline shares sale in April.
Although securities and exchanges reported a year-on-year increase of 59.4 percent owing to higher trading and post-trading activities, this was offset by a 30.2 percent decrease in SIX’s banking services business unit, partially due to the COVID-19 lockdown.
It was also noted that operating expenses saw a small uptick of 2 percent owing to higher merger and acquisition (M&A) activity, as well as increased revenues.
SIX’s recent M&A activity includes the acquisition of Bolsas y Mercados Españoles (BME) earlier in June to strengthen its diversified European presence as the third largest European financial market infrastructure group.
The planning of the operational integration of BME into SIX is underway, with several board changes in July.
In addition to this, SIX will also be focusing on implementing a new strategy for the financial information business unit, including analytics and alternative data that covers environmental, social and governance criteria.
The Swiss financial infrastructure operator also saw a 32.7 percent increase in earnings compared to last year before interest, taxes, depreciation and amortisation (EBITDA) to CHF 151.6 million ($166.7 million).
It revealed a group net profit of CHF 184.2 million for H1 2020 ($202.5 million).
SIX attributed these increases to its diversified portfolio and the completion of the 10.1 million Worldline shares sale in April.
Although securities and exchanges reported a year-on-year increase of 59.4 percent owing to higher trading and post-trading activities, this was offset by a 30.2 percent decrease in SIX’s banking services business unit, partially due to the COVID-19 lockdown.
It was also noted that operating expenses saw a small uptick of 2 percent owing to higher merger and acquisition (M&A) activity, as well as increased revenues.
SIX’s recent M&A activity includes the acquisition of Bolsas y Mercados Españoles (BME) earlier in June to strengthen its diversified European presence as the third largest European financial market infrastructure group.
The planning of the operational integration of BME into SIX is underway, with several board changes in July.
In addition to this, SIX will also be focusing on implementing a new strategy for the financial information business unit, including analytics and alternative data that covers environmental, social and governance criteria.
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