SIX has recently announced that it supports Worldline’s transformation plans and will back various proposals at the planned extraordinary general meeting. Worldline remains a key partner of SIX in the payments sector. Reflecting its capital allocation and strategic business growth priorities, SIX stated that it does not intend to participate in Worldline’s recently unveiled capital increase.
SIX’s 2025 Group net result will now reportedly include an “estimated non-cash impact in relation to Worldline of approx. CHF -550 million, primarily reflecting Worldline’s goodwill impairment announced with its 2025 half-year results.”
Adjusted for Worldline-related effects, the Group net result is “expected at approx. CHF 250 million, and the Board of Directors expects to propose a stable dividend for 2025.”
SIX confirmed its recent support of the so-called transformation plans presented by Worldline at its Investor Day and intends to “back the related proposals at the extraordinary general meeting.”
But it decided not to actually participate in Worldline’s announced capital raise and is, therefore, ready to to accept the “corresponding dilution compared to the current 10.5%.”
SIX now claims it is convinced that this is the “right course of action in view of its capital-allocation priorities, business and growth strategy, customer relationships and responsibilities vis-a-vis its shareholders.”
As a consequence of the anticipated dilution as well as reduction of influence after Giulia Fitzpatrick’s resignation as a member of the Worldline Board of Directors before year-end, SIX will now “manage its Worldline stake as a financial investment in the future.”
SIX further stated that it agreed to acquire the electronic data management business from Worldline (ex-CETREL Securities), which “supports customers in complying with regulatory requirements and minimising related risks.”
This acquisition will aim to enhance SIX’s position in the important sanctioned securities monitoring business as “part of its growth strategy.”
Closing is expected in the first half year of 2026, “subject to customary regulatory approvals.”
SIX’s 2025 Group net result will include an “accounting impact totaling approx. CHF -550 million in relation to its Worldline participation, an estimate based on yesterday’s closing price of the Worldline share.”
This includes the previously reported value adjustment in H1 2025, SIX’s share of Worldline’s “goodwill impairment announced by Worldline with its half-year results, as well as effects resulting from an expected accounting reclassification, which remain subject to the development of Worldline’s share price until year-end.”
SIX says it now expects to report a “negative Group net result in the estimated amount of approx. CHF -300 million for 2025.”
As stated in the update, Worldline-related effects are non-cash and will “not affect the company’s strong free cash flow generation.”
In the operating business, SIX continued the positive trend of the first half of the year and expects “mid-single digit revenue growth as well as strong EBITDA growth for the full year 2025.”
Adjusted for Worldline-related effects, the Group net result is “expected at approx. CHF 250 million.”
For the FY 2025, the SIX Board of Directors now reportedly expects to propose a stable dividend “compared to the CHF 5.30 per share paid out for the year 2024.”
The capital position of SIX reportedly remains “solid.” At year-end, the equity ratio is projected to lie “above 60%, and the net debt to adjusted EBITDA ratio will reach approx. 1.0x.”
SIX has concluded it would its 2025 financial results on 24 March 2026.