SIX Group, the financial services company that operates the infrastructure for the Swiss financial centre, published its financial results for last year. The Group registered a significant leap in operating income which reached CHF 1,375.9 million, marking a 21.8% rise compared to 2019.
The Group reported that earnings before interest, tax, depreciation and amortization (EBITDA) amounted to CHF 368.9 million, up 72.8% compared to 2019. The total net profit of the Group was CHF 439.6 million.
SIX also noted that the newly acquired Bolsas y Mercados Espanoles (BME) contributed significantly to the operating income. The Spanish financial market infrastructure was responsible for CHF 196.6 million of the total operating income.
The announcement said:
The high level of trading activity on the exchanges boosted the contribution from the Securities & Exchanges business unit (+11.7%), supported by the fact that SIX enjoyed a market share of almost 100% in the trading of Swiss equities, with EU equivalence remaining suspended.
The Group also highlighted the contribution of the Securities & Exchanges business unit. It accounted for the largest share of operating income in 2020 with CHF 565.6 million.
The exchange also outlined that going forward it will focus on organic growth, as well as possible acquisitions in all areas of business.
The announcement noted:
While organic growth is the focus for SIX, partnerships and acquisitions offer the opportunity to accelerate or complement the growth strategy. Financial market infrastructures entail high fixed costs. Additional volumes enable significant economies of scale to be achieved quickly, which increases profitability and thus enhances the capacity for innovation. This means that the competitiveness of the infrastructure is augmented.
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