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Net Financial Result Added Strength to EBIT and Group Net Profit
In addition to the strong operating performance, the non-operating net financial result of SIX was also well up on the previous year at CHF 273.8 million. This was brought about, firstly, by realized valuation gains from the sale of 10.1 million Worldline shares (5.5% of Worldline’s share capital), which SIX disposed of in April during an accelerated book-building procedure. Secondly, Worldline acquired payment services provider Ingenico in October, which was settled with newly issued shares and likewise had a positive effect on the SIX net financial result because of the higher valuation of the Worldline shares remaining in the possession of SIX.
Worldline remains the largest equity interest held by SIX. However, due to the transactions effected on both sides, the equity share of SIX in Worldline was reduced from 21.8% to 10.7% in comparison to 2019. In the SIX income statement, this is reflected in the item “Share of profit or loss of associates and joint ventures” (–77.5% compared to the previous year). With an equity interest of around 10.7% and a proportion of the voting rights of 18.9%, SIX nevertheless remains Worldline’s largest shareholder and, through this interest, also shares in the growth of digital payments. Worldline shares rose from EUR 63.15 to EUR 79.10 (+25.3%) in the year under review.
In terms of overall profitability, the high net financial result increased earnings before interest and tax (EBIT) and Group net profit. The result was a significant increase in net income compared to the previous year: EBIT amounted to CHF 516.6 million, while Group net profit totaled CHF 439.6 million.
For 2020, the Board of Directors recommends that the Annual General Meeting approve an ordinary dividend of CHF 4.30 per share.