SIX Delivers 2.6% Yearly Increase in Operating Income for H1 2023

SIX Swiss Exchange (SIX) achieved a good result for the first half of the year. SIX increased its operating income by 2.6% year-on-year to CHF 771.1 million, with growth at constant currencies coming to 4.4%.

Post-trading business made a particular contribution to this increase as a result of high volumes on the repo markets and the data business with successful contract wins. These positive developments more than compensated for lower income in the Banking Services business unit and declining stock exchange trading volumes, which had been higher in the previous year due to a sharp rise in volatility as a result of the outbreak of the war in Ukraine.

At the same time, SIX kept its cost base stable despite a challenging environment due to inflation, with costs up only slightly year-on-year (+1.4%). Overall, this resulted in a 5.6% increase in the operating result before interest, tax, depreciation and amortization (EBITDA) to CHF 225.6 million. Due to a positive one-off effect from the full acquisition of the trade repository Regis-TR in the first half of 2022, earnings before interest and tax (EBIT) declined to CHF 133.3 million (-17.4%) and Group net profit to CHF 105.1 million (-13.3%).

Jos Dijsselhof, CEO of SIX, emphasizes, "With this increase in our operating income for the first half of the year, we are on track to achieve our medium-term target for annual turnover growth of four percent. Our well-diversified business model has thus proven successful again. Even in these challenging times, our services and innovations ensure access to the capital markets and the flow of information and money between financial market players in Switzerland and abroad."