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Depreciation and amortisation, non-operating results


In CHF million, except where indicated
  3. quarter
2018
  3. quarter
2017
 
Change
  1.1.–
30.9.2018
  1.1.–
30.9.2017
 
Change
Operating income before depreciation and amortisation (EBITDA)   1,088   1,094   –0.5%   3,231   3,354   –3.7%
Depreciation, amortisation and impairment losses   (530)   (531)   –0.2%   (1,610)   (1,588)   1.4%
Operating income (EBIT)   558   563   –0.9%   1,621   1,766   –8.2%
Net interest expense   (33)   (36)   –8.3%   (103)   (109)   –5.5%
Other financial result   (3)   16       (3)   (9)   –66.7%
Result of equity-accounted investees   3   (3)       3   (6)    
Income before income taxes   525   540   –2.8%   1,518   1,642   –7.6%
Income tax expense   (99)   (110)   –10.0%   (305)   (373)   –18.2%
Net income   426   430   –0.9%   1,213   1,269   –4.4%
Share of net income attributable to equity holders of Swisscom Ltd   427   430   –0.7%   1,217   1,270   –4.2%
Share of net income attributable to non-controlling interests   (1)         (4)   (1)    
                         
Earnings per share (in CHF)   8.24   8.30   –0.7%   23.49   24.52   –4.2%

Depreciation and amortisation increased year-on-year by CHF 22 million or 1.4% to CHF 1,610 million, remaining virtually unchanged at constant exchange rates (–0.1%). Net interest expense was CHF 6 million lower at CHF 103 million as a result of the lower average interest costs for financial debt. Income tax expense was CHF 305 million (prior year: CHF 373 million), corresponding to an effective income tax rate of 20.1% (prior year: 22.7%). The decrease in the effective income tax rate is primarily attributable to the effects of prior periods in 2017. Net income posted by Swisscom fell by CHF 56 million or 4.4% to CHF 1,213 million, primarily due to the non-recurring items described in the summary. Earnings per share fell accordingly from CHF 24.52 to CHF 23.49.