SIX Swiss exchange sees profit plunge at mid-year

Swiss stock exchange operator SIX had to absorb a further setback to its stake in France’s Worldline in the first six months of the year, causing its profits to fall sharply. +Get the most important news from Switzerland in your inbox Operating income rose by 4% to CHF823 million ($1 billion), SIX reported on Monday. At constant exchange rates, the increase was 4.7%. Gross operating profit (Ebitda) stabilised at CHF234 million, excluding transformation programme costs estimated at CHF31 million The latter corresponds in particular to one-off personnel and IT infrastructure costs. The Zurich-based group took a further impairment charge of CHF69.3 million on its 10.5% stake in the French payment and transaction specialist Worldline. Net profit was slashed by 64% to CHF42.2 million. Excluding adjustments on holdings, SIX calculated a net profit of CHF111.5 million (-4%). Adapted from German by DeepL/jdp How we work We select the most relevant news for an international audience and use ...