SIX Faces Financial Challenge Amid Worldline Woes

Swiss stock exchange operator SIX forecasts a net loss of 300 million Swiss francs in 2025, attributed to a 550 million franc impairment on its stake in French payments group Worldline. The setback follows consecutive yearly losses linked to Worldline's decline in market value. SIX will reclassify its stake and maintain its dividend policy.

In a significant financial forecast, Swiss stock exchange operator SIX announced an anticipated net loss of 300 million Swiss francs for 2025. This is largely due to a 550 million franc impairment on its 10.5% stake in the French payments group Worldline, aligning with a goodwill impairment revealed in Worldline's half-year results.

For the third consecutive year, SIX will endure impairment charges connected to its investment in Worldline. Previously, the Swiss operator faced a 167.7 million franc impairment in 2024 and reported a total net loss of 1.0 billion francs in 2023, partly due to declining Worldline share values.

Worldline's market value has plummeted by approximately 97% from its peak in 2021, hit by customer loss, diminished profits, unstable leadership, and a money-laundering investigation in Belgium. In response, Worldline plans a 500 million euro equity raise, which SIX will not join, choosing instead to accept dilution and reclassify its stake as a financial investment.

(With inputs from agencies.)