Hiag revises profit expectations
The planned partnership between Hiag and the stock exchange operator SIX for a cloud solution for the Swiss financial market will not materialise. Hiag therefore expects a decline in profits for the first half of 2019.
Hiag Immobilien Holding announced that talks between its subsidiary Hiag Data and the stock exchange operator SIX on the development and distribution of a Secure Swiss Cloud Service for the Swiss financial market will not be continued.
According to the company, variants for the development of its own multicloud platform are now being examined. In doing so, Hiag Data wants to open up to partners in order to broaden the financing of the subsidiary.
Due to this changed situation, earnings expectations for the 2019 financial year are also being revised: Due to the negative earnings contribution of the subsidiary, the company expects a lower corporate profit for the first half of 2019 compared to the previous year.
The half-year results will be published on 2 September 2019, when Hiag plans to announce further details. (ah)
