SIX releases mixed H1 results
04 September 2018 Zurich
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SIX has recorded strong operational performance for the first half of 2018 in its H1 results, meaning “a transitional year for the company”.
The custody and trading business of securities and exchanges benefitted amongst others from favourable market conditions in H1. It generated an operating profit of CHF 109.2 million.
Seven initial public offering was completed in H1 2018, more than in the whole of 2017.
The financial information business unit posted increased turnover, mainly with reference and price data, as well as with services in the regulatory area.
No year-on-year comparison is published in the interim report at the business unit level, as the previous year's figures are not yet available, according to the new organisational structure.
SIX said it will report according to the new structure from the financial year 2018, including the previous year's figures.
Operating income for the remaining business units totalled CHF 572.5 million for the first half of 2018, while earnings before interest and tax stood at CHF 102.2 million.
Under its strategic and operating realignment, SIX grouped together its securities services in the first half of 2018 to enable it to offer all services for trading, settlement and custody of securities from a single source.
It also amalgamated services for the Swiss payment system—interbank payments, connecting to the single euro payments area, processing card-based and mobile payments for banks and e-bills.
In May, SIX announced that it was transferring its card business through a strategic partnership with the French company Worldline.
It will own a 27 percent stake in Worldline following the expected completion of the transaction in the fourth quarter of the year.
SIX said the 8 percent rise in operating income in the first six months took the figure to CHF 1,000.7 million (including the discontinued cards business unit).
This rise partially compensated for the increase in operating costs incurred as a result of the strategic and organisational realignment (including merger and acquisition activities).
At CHF 139.0 million, earnings before interest and tax, therefore, fell year on year by approximately 15 percent in the first half of 2018 which SIX said was in line with expectations.
Apart from the newly created payments business unit, which SIX said will complete its reorganisation later this year, all other business units contributed to the growth in operating income in the first half of the year.
The custody and trading business of securities and exchanges benefitted amongst others from favourable market conditions in H1. It generated an operating profit of CHF 109.2 million.
Seven initial public offering was completed in H1 2018, more than in the whole of 2017.
The financial information business unit posted increased turnover, mainly with reference and price data, as well as with services in the regulatory area.
No year-on-year comparison is published in the interim report at the business unit level, as the previous year's figures are not yet available, according to the new organisational structure.
SIX said it will report according to the new structure from the financial year 2018, including the previous year's figures.
Operating income for the remaining business units totalled CHF 572.5 million for the first half of 2018, while earnings before interest and tax stood at CHF 102.2 million.
Under its strategic and operating realignment, SIX grouped together its securities services in the first half of 2018 to enable it to offer all services for trading, settlement and custody of securities from a single source.
It also amalgamated services for the Swiss payment system—interbank payments, connecting to the single euro payments area, processing card-based and mobile payments for banks and e-bills.
In May, SIX announced that it was transferring its card business through a strategic partnership with the French company Worldline.
It will own a 27 percent stake in Worldline following the expected completion of the transaction in the fourth quarter of the year.
SIX said the 8 percent rise in operating income in the first six months took the figure to CHF 1,000.7 million (including the discontinued cards business unit).
This rise partially compensated for the increase in operating costs incurred as a result of the strategic and organisational realignment (including merger and acquisition activities).
At CHF 139.0 million, earnings before interest and tax, therefore, fell year on year by approximately 15 percent in the first half of 2018 which SIX said was in line with expectations.
Apart from the newly created payments business unit, which SIX said will complete its reorganisation later this year, all other business units contributed to the growth in operating income in the first half of the year.
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