Financial Result

The decline in the financial result from CHF 789.6 million to CHF 2.3 million is mainly attributable to the effect of CHF 778.5 million recognised in the previous year, which was achieved in the course of integrating the shares in TX Markets AG into the new joint venture SMG Swiss Marketplace Group AG. A further one-off effect in the previous year related to the CHF 11.8 million compensation from legal proceedings connected with Trendsales ApS. In the current financial year, net interest income increased by CHF 4.3 million net on account of higher loan receivables.