SIX Faces Financial Challenge Amid Worldline Woes

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.