SIX earns more profits with stable sales

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2022 is the second year that Spanish BME acquired in 2020 makes a full contribution to the group result. Operating income remained roughly flat at CHF 1.49 billion, after CHF 1.50 billion (-0.3%) in 2021. Financial infrastructure provider SIX said on Thursday that its diversified business model has once again proven its worth in challenging market conditions.

Operating result EBIT increased from 147.2 million in 2021 to 243.9 million. The consolidated result even increased to 185.0 million after 73.5 million previously. SIX had lost profits last year due to its stake in French payment processing company Worldline. The resulting share of subsidiaries in 2022 is now +21.6 million, after -102.1 million in 2021.

As a result, shareholders can expect a higher dividend of CHF 5.10 per share after CHF 4.75 the previous year. SIX is owned by approximately 120 financial institutions that are also clients. Big banks UBS and CS have a good third place together.

Looking ahead, SIX plans to continue growing. The business is a classic scale business. The company said on Thursday that it continues to expect annual sales growth of over 4 percent at constant currencies over the medium term. In 2022, it was plus 2.1 percent, adjusted for currency effects.

The drivers are initiatives such as the SDX digital exchange, “sales synergies” from the BME acquisition, and growth from the “Financial Information” business unit (financial data). The exchange operator also added that “cost efficiency” remains a priority. Higher profitability is also expected due to increased sales and an “optimized” cost base. In addition, “inorganic growth opportunities will continue to be explored”.

(SDA)

Source :Blick