SIX Sees Solid H1 2020 Financial Results, Driven by COVID-19 Boost

The Group reported the highest weekly trading turnover in its history in March.

SIX Group Ltd, operator of the SIX Swiss Exchange, has published its financial results for the first half of 2020, revealing an overall solid period for the company, despite the challenges presented by the coronavirus pandemic.

During the first half of the year, SIX reported CHF 624.1 million in operating income. When measuring this number against the operating income achieved in the first half of 2019, it is stronger by 13.1 per cent.

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According to the report, the uptick in operating income was mainly due to amplified trading activity caused by heightened market volatility. This was a result of the uncertainty surrounding the coronavirus pandemic.

Group net profit was reported at CHF 184.2 million for the first six months of the year and earnings per share closed out the period at CHF 9.74. Hence, EBITDA increased by 32.7 per cent year on year.

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SIX Group Registers Highest Weekly Trading Turnover in March

The Group’s business unit Securities & Exchanges, which covers the operations of the SIX Swiss Exchange, delivered a profit of CHF 128.7 million in the first half of this year. This represents a 59.4 per cent increase in profit against the prior corresponding period, which was boosted by higher trading and post-trading activities. 

“In March, SIX registered the highest weekly trading turnover in its history. The record-high volatility during that time was managed without any problems,” SIX Group said in its statement today.

“Stable and secure financial market infrastructures are crucial, especially in highly volatile times. They guarantee that all participants of capital markets can rely on the orderly functioning of exchanges. This has never been more apparent than during COVID-19.”

During H1 of 2020, SIX successfully completed the acquisition of a controlling stake in Bolsas y Mercados Españoles (BME). For the period of the closing of the acquisition until the end of June this year, profit contribution from BME was CHF 15.1 million.

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