SIX Sees 83% Decline in 2021 Profits, Revenue Rises

SIX Swiss Exchange released its consolidated financials for 2021, reporting an annual net profit of CHF 73.5 million (around $79.2 million), which is a decline of 83.2 percent from the prior year.

However, the European exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term strengthened its operating income by 8.9 percent to almost CHF 1.9 billion. EBITDA for the year came in at CHF 421.7 million, which is 14.8 percent higher. But, EBIT came down by 71.4 percent to CHF 147.2 million.

“Despite the improved operating result, EBIT and group net profit substantially decreased compared to the previous year. This was due to two opposing effects from the stake of SIX in Worldline in 2020 and 2021,” the Swiss exchange explained.

Indeed, without the Worldline-related effects, SIX’s net profits in 2021 jumped by 37.3 percent.

Meanwhile, 2021 remained a key year for the Swiss exchange. It launched the SIX Digital Exchange and expanded in the areas of ESG indices and data offerings. Moreover, it started offering a new equity segment for SMEs under the brand Sparks.

“While equity trading on the stock exchanges did not reach the unprecedented volumes of the previous year, the economic environment was still favorable for the Exchanges and Securities Services business,” SIX stated.

The Zurich-headquartered exchange even closed three acquisitions last year: two were financial information businesses, while one operates in the post-trading sector.

Bullish Future

SIX is now focusing on its business strategies that include the expansion of its stable infrastructure, the setting up of new digital infrastructures, and investment in the security of its systems. In addition, it is aiming for a 4 percent annual revenue increase between 2022 and 2024, which it is anticipating to generate from new services with the BME acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term and from its financial information business.

“The resulting increase in profitability will further improve the financial flexibility of SIX, ensuring sufficient financing for continuous investments to grow the business and further strengthen the competitiveness of the Swiss and Spanish financial centers,” the exchange added.