SIX posts 12% Y/Y increase in net profit in H1 2022
SIX today posted its financial report for the six-month period to June 30, 2022.
Despite increasing macroeconomic challenges, SIX kept its operating income virtually unchanged year-on-year in the first half of the year (+0.8%). Adjusted for currency effects, the growth rate increased to 2.6%.
Operating earnings before interest, tax, depreciation and amortization (EBITDA) amounted to CHF 213.7 million, down 5.5% year-on-year. Earnings before interest and tax (EBIT) of CHF 161.4 million are 4.9% above the previous year’s level due to one-off effects in financial income mainly related to the full acquisition of REGIS-TR trade repository.
Net profit increased by a substantial 12.1% to CHF 121.3 million.
SIX achieved various further milestones in the implementation of its strategy during the reporting period, increasing volumes, reach and productivity. Xlife Sciences was the first SME to go public in the new “Sparks” Swiss SME segment. At the same time, the Spanish market counterpart “BME Growth,” which has already existed for some time, recorded six company listings: Enerside Energy, Vytrus Biotech, Hannun, SUBSTRATE AI, Labiana Health and IBI LION. In the international custody business, SIX expanded into Singapore and launched a new clearing platform for the Scandinavian markets.
SIX took further steps in the integration of Spanish Bolsas y Mercados Españoles (BME) in the first half of the year. Among other things, it introduced the CONNEXOR reference data platform, which is well established in the Swiss market, to the Spanish market in February and has enabled customers there to settle and hold Swiss securities via its Spanish central securities depository Iberclear since June.
“Despite turbulent market conditions, we have achieved a solid result in the first half of the year,” emphasizes Jos Dijsselhof, CEO of SIX. “We provide global access to the Swiss and Spanish financial centers, guarantee capital raising, trading and settlement, and ensure the supply of data to the financial markets and payment transactions. In economically and geopolitically challenging times, it is particularly important that our customers and all market participants can always rely on us.
At the same time, we are continuing to drive forward our growth in order to systematically develop new business potential and continuously invest in new and improved services, as well as in our infrastructure and security. This enables us to ensure that we continue to drive change in response to changing needs in our markets and can continue to offer our customers excellent service at all times in the future.”