In the first half of 2025, SIX Group generated operating income of 823,0 million francs, a 4,0 percent increase compared to the previous year, according to figures released Monday.

However, EBITDA rose only slightly year-on-year by 0,3 percent to  234,9 million francs.

Worldline Remains a Burden

Once again, SIX had to write down the value of its 10,5 percent stake in the French payment services company Worldline. This time, the value was reduced by 69,3 million francs. The stake has already weighed on profits in the previous two years: in 2024, the value was adjusted down by 168 million francs, and in 2023 by as much as 862 million francs.

As a result, SIX’s EBIT for the first half of the year fell by 47 percent to 81,5 million francs. Net profit dropped by 64 percent to 42,2 million francs.

Excluding the impairment, net profit would have amounted to 111,5 million francs – still a 4,2 percent decrease.

SIX stated that the economic environment was shaped by lower interest rates, U.S. trade policies, and geopolitical tensions. These developments contributed to spikes in stock market volatility, which in turn drove higher trading volumes.

Strategic Program Underway

The strategic program launched in March has already begun contributing to revenue growth and cost savings. The associated transformation costs for the first half are estimated at 31,0 million francs.

As previously reported, the program also includes a reduction of approximately 150 jobs across the group by the end of 2025.

Targets Confirmed

«In the first half of 2025, we delivered strong operational performance and accelerated our business growth,» said SIX CEO Bjørn Sibbern. «The positive momentum confirms that we are on the right track with the introduction of more customer-centric structures and offerings. As previously communicated, we have raised our business targets based on our strong market position. I am confident that our current course will ensure the achievement of our 2027 goals.»

According to the goals announced in March, revenue is expected to grow by a mid-single-digit percentage annually through 2027. The EBITDA margin is projected to rise from 28 percent in 2024 to over 40 percent. Additionally, the cost base is to be reduced by more than 120 million francs over the next three years.

Continued Decline in Worldline Shares

Worldline’s share price has again dropped significantly since the beginning of the year – from over EUR 8 to around EUR 3.80 most recently. SIX’s stake is now likely worth just under 100 million francs.

Back in mid-2021, Worldline shares had peaked at around 85 euro.