SIX CEO expects half-year profit to roughly double in 2024
Published: Thursday, Nov 14th 2024, 16:20
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Following last year's billion-euro loss, stock exchange operator SIX aims to return to profitability. SIX CEO Jos Dijsselhof told the news agency AWP at an event in Zurich on Thursday that the company should roughly double its half-year profit in 2024 as a whole.
In the first six months, SIX increased its consolidated profit by 12% to CHF 117.5 million. This would put SIX well above the CHF 200 million mark again for the full year 2024.
In the last financial year 2023, the financial market infrastructure operator suffered a loss of CHF 1.0 billion. On the one hand, the payment transaction provider Worldline, in which SIX holds a 10.5% stake, was to blame for the huge loss. In view of the collapse in the share price of the French company. As a result, SIX had to make a negative value adjustment of CHF 862 million.
On the other hand, goodwill had to be adjusted downwards by 340 million on the Spanish stock exchange. "Goodwill" arises when a company is purchased at a price above its book value. This was due to higher discount rates and lower trading volumes in Spain and the rest of Europe. Without the value adjustments, SIX would have posted a net profit of CHF 181 million last year.
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