Swiss exchange operator SIX reports higher operating income but lower profit for the first half of 2023.
Exchange operator SIX increased its operating income by 2.6 percent to 771.1 million Swiss francs for the first half of the year in a challenging market environment. Adjusted for currency effects, growth was 4.4 percent, according to a media release Friday.
In particular, the post-trade business with high volumes in the repo markets as well as successful contract conclusions in the data business contributed to the positive development. This more than compensated for lower income in the Banking Services division and declining stock exchange trading volumes, according to the statement.
Challenging Environment
The cost base was stable despite the challenges posed by inflation. They increased only slightly by 1.4 percent compared to the previous year.
Against this background, Ebitda increased by 5.6 percent to 225.6 million francs. But due to a one-off effect from the full acquisition of the Regis-TR trade repository in the first half of 2022, operating profit (Ebit) fell by 17.4 percent to 133.3 million francs. Group profit declined by 13.3 percent to 105.1 million francs.
