The stock market volatility that followed the emergence of Covid-19 helped Swiss exchange operator SIX in the first half. The company also concluded its biggest acquisition in years in the reporting period.
SIX, the Zurich-based stock exchange operator, in March recorded the biggest-ever trading volume amid a crash that ensued followed the lockdown in most major industrialized countries. The turnover helped boost the company’s operating profit by a third to 151.6 million Swiss francs ($166.6 million).
Net income was up even more substantially given a one-off item that had weighed on the result of the first half of 2019. Net reached 184.2 million compared with 32.4 million a year ago.
Integration of BME
The financial result of SIX was much better this year, due to the completion of the divestment of the Worldline stake. The 10.1 million shares had been added to its books in connection with the divestment of the payments unit to the French company.
In June, SIX had concluded the acquisition of a majority in Spanish stock exchange operator BME. The integration of SIX and BME will result in Europe’s third-largest financial-market infrastructure provider. The operative side of the integration is currently ongoing, said the Swiss company.
