SIX Achieves Strong Operating Profit In The First Half Of 2013

28/08/2013

  • Operating income rises 4.3% in the first half of 2013. All business areas contributed to this growth, particularly the international business of Payment Services
  • Earnings before interest and tax (EBIT) amount to CHF 116.6 million (-67.5%). Adjusted by the gain on disposal of the Eurex investment in 2012, EBIT increases 25.2% or CHF 23.5 million compared to the previous year. All business areas have improved their results
  • Group net profit stands at CHF 93.1 million (-72.3%). Adjusted by the gain on disposal of Eurex, Group net profit improved by 31.9% or CHF 22.5 million in comparison with the previous year
  • SIX is reporting in accordance with the International Financial Reporting Standards (IFRS) for the first time. The previous year's figures have been adjusted accordingly for the purposes of comparison

«SIX achieved a strong operating profit in the first half of 2013, » says Urs Rüegsegger, Group CEO SIX. «This is partly due to an increase in revenues in all business areas, particularly international transactions in Payment Services, and the cost-cutting measures introduced in the previous year. »

SIX markedly improved its operating profit in the first half of 2013. With the higher level of activity on the financial markets and expansion of the international business in Payment Services, operating income rose by 4.3% to CHF 746.7 million in the first half of the year. Despite the growth, operating expenses fell 2.2% to CHF 642.4 million as a result of the systematic optimization of the cost structure over the past twelve months. Consequently, the operating profit climbed a considerable 76.0% to CHF 104.4 million.

The net financial result amounts to CHF 0.3 million, compared with CHF 284.4 million in the previous year. This is primarily attributable to the sale of Eurex in 2012. The gain on the disposal of Eurex amounts to CHF 266.0 million, of which CHF 95.4 million is due to an IFRS transition adjustment.

Earnings before interest and tax (EBIT) total CHF 116.6 million. Adjusted by the gain of CHF 266.0million from the sale of Eurex in the previous year, EBIT rises by 25.2% or CHF 23.5 million. The adjusted EBIT margin increases from 13.0% to 15.6%.

The Group net profit is CHF 93.1 million (CHF 336.6 million in the previous year), which represents a decline of CHF 243.5 million. Adjusted by the gain on the disposal of Eurex, the increase in theGroup net profit in the first half of 2013 was a pleasing CHF 22.5 million, or 31.9%.

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