{"id":77791,"date":"2024-03-13T02:58:30","date_gmt":"2024-03-13T07:58:30","guid":{"rendered":"https:\/\/equitynewsreport.com\/swiss-exchange-operator-six-posts-1-15-billion-loss-on-impairments\/"},"modified":"2024-03-13T02:58:30","modified_gmt":"2024-03-13T07:58:30","slug":"swiss-exchange-operator-six-posts-1-15-billion-loss-on-impairments","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/swiss-exchange-operator-six-posts-1-15-billion-loss-on-impairments\/","title":{"rendered":"Swiss exchange operator SIX posts $1.15 billion loss on impairments"},"content":{"rendered":"
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\n\u00a9 Reuters. FILE PHOTO: The logo of Swiss stock exchange operator SIX Group is seen at its headquarters in Zurich, Switzerland November 13, 2020. REUTERS\/Arnd Wiegmann\/File Photo<\/span>
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ZURICH (Reuters) – Swiss stock exchange operator SIX reported a loss of 1.01 billion Swiss francs ($1.15 billion) in 2023, after it booked two previously flagged non-cash impairments.<\/p>\n

The group had said in December it would book a value adjustment of around 860 million Swiss francs on its 10.5% stake in Worldline reflecting a decline in the payments provider’s share price.<\/p>\n

It had also flagged a non-cash charge of about 340 million francs in relation to an impairment of goodwill attributed to the BME Group stemming from increased discount rates and lower trading volumes.<\/p>\n

Without these, SIX would have reported a profit of 181 million francs, it said, versus 185 million a year earlier.<\/p>\n

“Unfortunately, the strong operating result was affected by two major non-cash value adjustments,” CEO Jos Dijsselhof said in a statement.<\/p>\n

“We are confident about our future growth, consistent financial performance, and ability to generate strong returns for our shareholders.”<\/p>\n

SIX said it would increase its dividend by 2% to 5.20 Swiss francs per share for the around 120 financial institutions, including UBS which are its shareholders, for a payout of 101.5 million francs. <\/p>\n

It also suggested an openness to doing M&A and said bolt-on acquisitions as well as partnering opportunities would further strengthen its portfolio.<\/p>\n

“We are constantly reviewing M&A opportunities in all four of our business areas,” CFO Daniel Schmucki told Reuters. <\/p>\n

“Globally, opportunities are more obvious in the Financial Information division than in the stock exchange business.”<\/p>\n

In January Reuters reported that SIX was mulling a bid for fund distribution company Allfunds citing two sources with knowledge of the situation. <\/p>\n

($1 = 0.8781 Swiss francs) <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The logo of Swiss stock exchange operator SIX Group is seen at its headquarters in Zurich, Switzerland November 13, 2020. REUTERS\/Arnd Wiegmann\/File Photo ZURICH (Reuters) – Swiss stock exchange operator SIX reported a loss of 1.01 billion Swiss francs ($1.15 billion) in 2023, after it booked two previously flagged non-cash impairments. The group had said in December it would book a value adjustment of around 860 million Swiss francs on its 10.5% stake in Worldline reflecting a decline in the payments provider’s share price. It had also flagged a non-cash charge of about 340 million francs […]<\/p>\n","protected":false},"author":5,"featured_media":77792,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77791"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77791"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77792"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}