Swiss exchange SIX has released its financial results for the 2022 financial year. The company has reported annual profits of CHF 185 million during this financial period, which is a 152% increase compared to the previous financial year.

SIX exchange reports a 152% increase in profits in fy 2022

Besides the staggering profit growth, the bank also reported a total operating income of around CHF 1.5 billion, which was around a 2.1% increase. According to the company, these positive financial results were attributed to having a diversified business model.

The operating income reported in the 2022 fiscal year was a 6% increase in the reporting currency. Moreover, the financial information unit reported a 1.1% increase in revenue. Additionally, the business dealings from the two units were a significant growth, overshadowing a drop in demand in the company’s Exchanges and Securities Services business arm.

SIX also reported an EBITDA of CHF 397.7 million during the financial year, with a margin of 26%. The figure was a 5.7% decline in the reporting currency and a 0.9% drop in constant currencies.

The Swiss exchange reported growth in its EBIT, which came in at CHF 243.9 million. The figure was a 65.7% increase in the reporting currency and an 82.7% increase in constant currencies. The increase in EBIT was attributed to a “one-off effect” in 2021. At the time, the exchange sold a stake in the group in Worldline.

The performance of the Swiss exchange in the fiscal year was healthy during the two halves of the periods. During the first half, the company reported an operating income of CHF 751.7 million. On the other hand, the net profits increased by 12.1% to reach CHF 121.3 million.

SIX’s CEO, Jos Dijsselhof, commented on this development, saying that despite the harsh market conditions witnessed by the company, it had reported solid financial results. The executive noted that the company was always exploring new areas and services to invest in to benefit customers and all market players.

“It is paramount for an international infrastructure operator like ourselves that our customers and all market participants can always rely on us. We continuously invest in new and improved services, as well as in our infrastructure and security. We shape the Swiss and Spanish capital markets for the future and make them the go-to markets for customers and clients around the globe.”

Positive expectations for the future

The Swiss exchange is optimistic about its expectations for the future. It anticipates that the medium-term revenue will increase by over 4% because of multiple factors such as SDX and digital assets, integrating revenue from the BME acquisition, and the growth of the company’s Financial Information business unit.

The group is also looking to optimize the cost base by leveraging its operations’ fixed cost nature. It is also looking to benefit more financially from the BME acquisition. It forecasts more growth in profits and revenues in the upcoming financial periods.