SIX, the operator of the Swiss stock exchange, has reported a loss of 1.01 billion Swiss francs $1.15 billion in 2023 after booking two non-cash impairments that it had previously flagged.
In December, the group announced that it would make a value adjustment of approximately 860 million Swiss francs on its 10.5% stake in Worldline, reflecting a decline in the share price of the payments provider.
It also indicated a non-cash charge of about 340 million francs related to goodwill impairment attributed to the BME Group due to increased discount rates and lower trading volumes.
According to SIX, it would have reported a profit of 181 million francs (compared to 185 million francs the previous year) without these impairments.
Jos Dijsselhof, CEO of SIX, expressed his disappointment about the non-cash value adjustments, but he remains positive about the group’s future growth, stable financial performance, and ability to generate strong returns for shareholders.
SIX has decided to increase its dividend from 2% to 5.20 Swiss francs per share for around 120 financial institutions, including UBS, its shareholders, for a payout of 101.5 million francs.
In addition, SIX has expressed an interest in conducting mergers and acquisitions (M&A), stating that bolt-on acquisitions, as well as partnering opportunities, would further strengthen its portfolio.
Daniel Schmucki, CFO of SIX, told Reuters that “we are constantly reviewing M&A opportunities in all four of our business areas” and that “globally, opportunities are more obvious in the Financial Information division than in the stock exchange business.”
In January, it was reported that SIX was considering a bid for fund distribution company Allfunds, citing two sources familiar with the matter.