Selected financial figures for the first half of 2024
(% corresponds to change in comparison with the same period of the previous year)
- Operating income rose to CHF 790.9 million (+3.4% at constant exchange rates, +2.6% at reported rates)
- Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 1.0% at constant exchange rates to CHF 224.7 million (-0.4% at reported rates)
- Earnings before interest and tax (EBIT) of CHF 153.2 million are above previous year’s level (+16.9% at constant exchange rates, +14.9% at reported rates)
- Group net profit grew by 14.0% at constant exchange rates, to CHF 117.5 million (+11.8% at reported rates)
Growth in Operating Income and Group Net Profit
In the first half of the year, SIX increased its operating income by 2.6% year-on-year to CHF 790.9 million. At constant exchange rates, this amounts to 3.4%. Three out of the four business units contributed to this growth. This was primarily driven by higher revenues from debit cards services, mobile payments and eBill, from international securities custody, as well as from reference data, regulatory services, and indices. The growth in these areas significantly overcompensated for lower earnings in equity trading.
In the period under review, costs grew by 3.8%, corresponding to 4.4% at constant exchange rates. The main elements contributing to this figure were higher personnel expenses caused by acquisitions and inflation, and sales-related costs. The latter are primarily composed of fees from third-party providers in payment services and revenue shares for data products to partners. Overall, operating income before interest, taxes, depreciation, and amortization (EBITDA) of CHF 224.7 million was 1.0% above last year's level at constant exchange rates (-0.4 % at reported rates). Due to a higher financial result, earnings before interest and taxes (EBIT) rose by 14.9% (16.9% at constant exchange rates) to CHF 153.2 million. As a result, group net profit also increased by 11.8% (14.0% at constant exchange rates) to CHF 117.5 million.
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