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Full-Year 2020 Financial Results

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Full-Year 2020 Financial Results Full-Year 2020 Financial Results SIX Demonstrates Operational Stability and Strengthens the Competitiveness of the Financial Center 17 March 2021 Sensitivity: C1 Public Agenda Business Highlights 2020 1 Jos Dijsselhof, CEO Financial Figures 2020 2 Daniel Schmucki, CFO Outlook 3 Jos Dijsselhof, CEO Sensitivity: C1 Public 1 Business Highlights 2020 Sensitivity: C1 Public 2020 – Highlights in a Challenging Year Company Securities & Exchanges Financial Information Banking Services BME Acquisition Two Listings on Primary Significant Growth in Rollout New Generation Market in CH: Ina Invest Indices, Tax and Regulatory Debit Cards with Improved Significant Investments in and V-Zug Segments Security and Functionality Efficiency, Stability, Security and Reliability of our Nine Listings on Primary SARON Launch as Libor Launch b.Link Open- Infrastructures Market in ESP Replacement Banking Platform SIX Digital Exchange (SDX) Stability despite High New Product Launches Migration of Postfinance to Levels of Market Volatility including SIX Tax Score eBill Platform Commitment in Worldline (Ingenico) Investment in 12H, Regulatory Services Launch of Digital QR-Bill Europe’s largest microwave Enhanced with Expansion Impact of COVID-19 Completion ATM Futura network to SIX Sanctions Monitoring Project – Standardization Service and Launch of CSDR New Triparty Agent to of ATM Software for and PRI Regulatory Services Enhance Collateral and 6,000 ATMs Liquidity Management 4 Sensitivity: C1 Public Summary of Full-Year 2020 Financial Results Financial results of BME since closing are included in SIX Full-Year 2020 Financial Results1 Operating Income Besides the additional revenue from BME since the closing in June, strong trading results from the SIX Swiss Stock Exchange more than compensated for a decrease in some business 1’375.9 mCHF / YoY +21.8% areas that were negatively impacted by COVID-19. Adj. 1’179.3 mCHF / YoY +4.4% EBITDA By realizing efficiency gains, operating expenses could be kept at a similar level to last year despite the impact of extraordinary items, such as expenses related to mCHF / YoY +72.8% 368.9 the BME acquisition. Adj. 248.0 mCHF / YoY +16.1% GroupNET Net FINANCIAL Profit RESULT Aside from the high operating performance, net profit was also significantly impacted by a strong financial result, which was mainly driven by a partial divestment of the stake mCHF 439.6 273.8 mCHF in Worldline as well as an increase in Worldline's valuation. Adj. 386.4 mCHF 2021 Investment Outlook SIX will continue to invest strongly in the expansion of its reach, customers and product portfolio. While capitalizing on new growth opportunities, SIX will also further improve mCHF ~200 efficiency by investing into automatization and continuous process optimization. (1) Closing of the acquisition was in June 2020. Slide also shows adjusted figures, i.e., financial results excluding BME contribution since closing. 5 Sensitivity: C1 Public 2 Financial Figures 2020 Sensitivity: C1 Public Full-Year 2020 Financial Results1 (1/5) Despite Challenging Market Conditions, the Diversified Business Portfolio of SIX Allowed for a Solid Operational Performance in 2020 FY 2020 (mCHF) FY 2019 (mCHF) Total Operating 1’375.9 1’129.7 +21.8% The increase in total operating income by 21.8% was Income driven by two factors. First, the completed acquisition Adj. 1’179.3 2 +4.4% of BME added an additional revenue of 196.6 mCHF to the Group. Second, a strong trading result due to high market volatility and resulting trading volumes. Theses Total Operating -1’007.0 -916.2 +9.9% effects offset a drop in both card and ATM Expenses transactions. 2 Adj. -931.3 +1.7% Due to the realization of efficiency gains in all business units, the year-on-year increase in adjusted operating +72.8% expenses was limited to only 1.7%, despite EBITDA 368.9 213.5 extraordinary cost items such as expenses related to Adj. 248.0 2 +16.1% the BME acquisition as well as additional costs related to the higher trading volume. As a result, adjusted EBITDA grew by 16.1% to 248.0 3’529 18’402 Workforce: Total Assets: Equity Ratio: 76.0% mCHF compared to 213.5 mCHF in 2019. FTE mCHF (1) SIX financial reporting includes BME results since closing in June. Any results of BME prior to the acquisition are not considered. (2) Closing of the acquisition was in June 2020. Slide also shows adjusted figures, i.e., financial results excluding BME contribution since closing. 7 Sensitivity: C1 Public Full-Year 2020 Financial Results (2/5) Impact of COVID-19 on Trading Business Total trading turnover per month Swiss Stock Exchange Total trading turnover per month – BME2 (in bnCHF) (in bnEuro) Jan Feb Mär Apr Mai Jun Jul Aug Sep Okt Nov Dez Jan Feb Mär Apr Mai Jun Jul Aug Sep Okt Nov Dez 12’000 350 12’000 120 11’000 300 100 11’000 10’000 250 75 77 72 72 10’000 9’000 70 70 66 80 61 57 200 8’000 56 55 9’000 73 60 138 131 139 142 7’000 119 110 119 122 114 110 122 111 150 8’000 6’000 40 100 Index Points Index Index Points Index 5’000 7’000 20 128 162 293 154 130 153 119 96 129 119 150 119 50 4’000 60 63 87 62 50 87 53 31 51 57 58 50 Total turnover per month per turnover Total 6’000 0 month per turnover Total 3’000 - Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total turnover per month (in bnCHF) 2020 Total turnover per month (in bnEUR) 2020 Total turnover per month (in bnCHF) 2019 Total turnover per month (in bnEUR) 2019 SMI IBEX 35 The strong year-on-year increase in trading turnover was driven by a spike in volatility caused by the uncertainties around COVID-19 and the discontinuation of EU Equivalence as of July 20191. Despite a relaxation in trading volume during the summer months, SIX reached record-high annual volumes. This was mostly driven by the volumes registered in March, which was the month with the highest turnover ever recorded at the SIX Swiss Stock Exchange. Despite these all-time highs in volume, SIX as well as BME infrastructures remained available without any capacity or system issues. (1) EU Equivalence was in place until 30 June 2019. Its discontinuation led to higher turnover at the Swiss Stock Exchange for the following 18 months. (2) Turnover financials include the asset classes equity and fixed income. Derivatives are not included. 8 Sensitivity: PublicC1 Public Full-Year 2020 Financial Results (3/5) The Pandemic Caused a Shift in Consumer Payment Behavior, Greatly Affecting the ATM and Cards Business of SIX ATM & Card Transactions 100 +3% The COVID-19 pandemic has strongly affected consumer 80 payment behavior and has likely accelerated the adaptation of digital payment solutions: 60 The number of ATM & card transactions dropped by -28% almost 50% and 30%, respectively, as a result of the COVID-19 measures mandated in March. (millions) 40 ATM transactions remained below the pre-COVID-19 level. 20 However, card transactions recovered quickly, exceeding Monthly Monthly transactions previous year’s numbers especially during the time -30% -47% between the first and second Corona waves in 0 Switzerland. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec The figures from July to October might be an indication ATM-Transactions 2019 for a sustainable change in consumer payment behavior Cards-Transactions 2019 after the restrictions related to COVID-19 are lifted. ATM-Transactions 2020 Cards-Transactions 2020 9 Sensitivity: C1 Public Full-Year 2020 Financial Results1 (4/5) Group Net Profit Was Strongly and Positively Impacted by the Partial Divestment of the Worldline Stake 1 1 EBITDA increased significantly versus prior in mCHF FY 2020 FY 2019 Δ year due to the inclusion of BME results as well Total operating income 1’375.9 1’129.7 21.8% as increased trading turnover. Efficiency gains partially offset extraordinary cost items, such as Total operating expenses -1’007.0 -916.2 9.9% M&A expenses related to the BME acquisition. EBITDA 1 368.9 213.5 72.8% 2 The year-on-year decrease in share of profit of associates Depreciation & amortization -141.8 -90.1 57.4% was mostly driven by adverse developments in the Worldline participation as well as a partial divestment in Share of profit of associates 2 15.7 69.6 -77.5% Worldline by SIX. Net financial result 273.8 -25.1 n/a 3 3 EBIT was strongly impacted by a positive net financial EBIT 516.6 168.0 n/a result. This is mostly due to realized income resulting from the partial sale of Worldline shares held by SIX and Net interest and tax expenses -77.1 -47.5 62.3% an increased Worldline valuation due to the merger with Group net profit 4 439.6 120.5 n/a Ingenico. 31/12/2020 31/12/2019 4 As a consequence of the improved operational results and favorable Worldline impact, Group net profit grew Dividend paid per share (CHF) 4.3 3.9 10.3% substantially compared to the previous year. Pay-out ratio2 65% 65% 0pp (1) SIX financial reporting includes BME results since closing in June. Any results of BME prior to the acquisitions are not considered. (2) According to the dividend policy, the distribution is based on the reported Group net profit without effects from the participation in Worldline. 10 Sensitivity: PublicC1 Public Full-Year 2020 Financial Results (5/5) Total Operating Income and Profit Contribution by Business Unit (excl.
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