SIX reports steep increase in FY22 net profit
Swiss exchange SIX today posted its financial report for 2022.
SIX successfully grew in the majority of its business units at constant currencies, despite the challenging environment.
- Operating Income amounted to CHF 1,494.1 million (-0.3% in reporting currency, +2.1% at constant currencies).
- Earnings before interest, tax, depreciation and amortization (EBITDA) remained solid at CHF 397.7 million (-5.7% in reporting currency, with a margin of 26.6%, -0.9% at constant currencies)
- Earnings before interest and tax (EBIT) increased to CHF 243.9 million (+65.7% in reporting currency, +82.7% at constant currencies).
- Group net profit amounted to CHF 185.0 million (2021: CHF 73.5 million).
SIX realigned its legal structure for further growth in the international capital market infrastructure business. The consolidation of the three business units Exchanges, Securities Services, and Financial Information in the newly formed SIX Exchange Group Ltd is effective as per 1 January 2023. This realignment has no impact on the governance or management of SIX.
For 2022, in accordance with the SIX Group dividend policy, the Board of Directors recommends that the Annual General Meeting approve an ordinary dividend of CHF 5.10 per share, which equates an increase of 7.4% compared to the previous year (prior year: CHF 4.7).
Despite a challenging 2022 and external headwinds, SIX remains committed to its growth strategy. SIX expects a revenue increase of > 4% p.a. in the medium term, driven by dedicated initiatives such as SDX and digital assets, revenue synergies from the BME acquisition, and growth from the Financial Information business unit.
Jos Dijsselhof, CEO of SIX, commented:
“Despite challenging market conditions, we have delivered a solid result. It is paramount for an international infrastructure operator like ourselves that our customers and all market participants can always rely on us. We continuously invest in new and improved services, as well as in our infrastructure and security. We shape the Swiss and Spanish capital markets for the future and make them the go-to markets for customers and clients around the globe.”