SIX reported an operating income of CHF 771.1 million for the first half of 2023, an increase of 2.6 percent YoY, or 4.4 percent after adjusting for constant currency. In a press release announcing its financial results, the Swiss exchange attributed the growth to its post-trade business, stating that it “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”.
The positive developments in post trade “more than compensated” for the lower income seen in banking services as well as declining stock exchange trading volumes. The firm states that it has also managed to “keep its cost base stable” in the face of high inflation, with costs “only slightly” up YoY by 1.4 percent. EBITDA increased 5.6 percent to CHF 225.6 million.
Despite this, operating profit declined by 17.4 percent to CHF 133.3 million and group net profit by 13.3 percent to CHF 105.1 million. SIX cites the positive effects of its acquisition of trade repository Regis-TR in the first half of 2022 as a reason for this year’s comparative decline.