SIX achieves good results in the first half of 2015 despite strong Swiss franc

26 August 2015

  • Operating income up 0.7% to CHF 887.5 million in the first six months of 2015; adjusted for currency effects, growth reaches 6.3%
  •  Earnings before interest and tax (EBIT) rises by 4.4% to CHF 157.7 million
  • Net financial result down significantly year-on-year due to strong franc and weak capital markets (CHF 14.5 million lower)
  • Group net profit amounts to CHF 127.5 million (–2.4%)  

SIX performed well in the first half of 2015. Results improved slightly compared with the previous year. EBIT rose by 4.4% to CHF 157.7 million, which is particularly impressive given the difficult environment caused by the strong Swiss franc. The tougher environment was reflected in the net financial result, which declined by CHF 14.4 million compared with the previous year. Due to lower net interest income and higher taxes, Group net profit decreased by 2.4% to CHF 127.5 million.  
Income in the areas of securities trading and post-trade services, in particular, rose sharply. Both areas benefited from the high level of volatility and increased trading activity following the discontinuation of the Swiss franc/euro exchange rate floor by the SNB in January 2015. In contrast, the strong Swiss franc led to a lower income in the Financial Information and Payment Services business areas.   

Performance of the business areas  
Operating income in the Swiss Exchange business area rose by 8.4% to CHF 110.5 million. At the same time, EBIT increased by 1.9% to CHF 55.8 million. This strong result is attributable to a significant increase in trading activity compared with the previous year. The number of stock exchange trades climbed by 39.6%, with trading turnover up by 30.9%. At 68.9%, the average market share in trading with Swiss blue chip stock is up on the previous year's level (66.6%).  
The Securities Services business area achieved the strongest growth of all of the business areas in the first half of the year, with operating income up 10.7% to CHF 177.6 million and EBIT 4.5% higher year-on-year, at CHF 30.9 million. Following the discontinuation of the exchange rate floor, settlement transactions grew sharply (+18.4%) and the volume of securities under custody rose by 9.2%. 

  
                                                                           
 

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