Swisscom share

Swisscom’s market capitalisation as at 31 December 2015 amounted to CHF 26.1 billion (previous year: CHF 27.1 billion). The number of shares outstanding remained the same at 51.8 million. Par value per registered share is CHF 1. Each share entitles the holder to one vote. Voting rights can only be exercised if the shareholder is entered in the share register of Swisscom Ltd with voting rights. The Board of Directors may refuse to enter a shareholder with voting rights if such voting rights exceed 5% of the company’s share capital.

Ownership structure

	31.12.2015			31.12.2014
	Number of Shareholders	Number of Shares	Share in %	Number of Shareholders	Number of Shares	Share in %
Confederation	1	26,394,000	51.0%	1	26,394,000	51.0%
Natural person	69,929	4,929,030	9.5%	62,359	4,260,624	8.2%
Institution	3,094	20,478,913	39.5%	2,699	21,147,319	40.8%
Total	73,024	51,801,943	100.0%	65,059	51,801,943	100.0%

The majority shareholder as at 31 December 2015 was the Swiss Confederation, with 51.0% of the voting rights and capital. The Confederation is obligated by current law to hold the majority of the capital and voting rights. As at 31 December 2015, 21% of the shares were held in unregistered shareholdings.

Stock exchanges

Swisscom shares are listed on the SIX Swiss Exchange under the symbol SCMN (Securities No. 874251). In the United States they are traded in the form of American Depositary Receipts (ADR) at a ratio of 1:10 (Over The Counter, Level 1) under the symbol SCMWY (Pink Sheet No. 69769).

Share performance

The Swiss Market Index (SMI) declined by 1.8% compared with the previous year. The Swisscom share price fell by 3.7% to CHF 503, underperforming the Stoxx Europe 600 Telecommunications Index (–2.2% in CHF; 9.0% in EUR). Average daily trading volume increased by 40% to 137,589 shares. Total trading volume of Swisscom shares in 2015 amounted to CHF 18.2 billion.

See www.swisscom.ch/shareprice

Shareholder return

On 15 April 2015 Swisscom paid out an ordinary dividend of CHF 22 per share. Based on the closing price at the end of 2014, this equates to a return of 4.2%. Taking into account the fall in share price, the total shareholder return (TSR) of the Swisscom share was 0.12% in 2015. The TSR for the SMI was 1.1% and for the Stoxx Europe 600 Telecommunications Index 2.1% in CHF and 13.6% in EUR.

Swisscom share performance indicators

		2011	2012	2013	2014	2015
Par value per share at end of year	CHF	1.00	1.00	1.00	1.00	1.00
Number of issued shares at end of period	in thousand	51,802	51,802	51,802	51,802	51,802
Market capitalisation at end of year	in CHF million	18,436	20,400	24,394	27,067	26,056
Closing price at end of period	CHF	355.90	393.80	470.90	522.50	503.00
Closing price highest	CHF	433.50	400.00	474.00	587.50	580.50
Closing price lowest	CHF	323.10	334.40	390.20	467.50	471.10
Earnings per share	CHF	13.19	34.90	32.53	32.70	26.27
Ordinary dividend per share	CHF	22.00	22.00	22.00	22.00	22.00¹
Ratio payout/earnings per share	%	166.79	63.04	67.63	67.27	83.75
Equity per share at end of year	CHF	82.47	79.77	115.30	105.29	101.10
¹ In accordance with the proposal of the Board of Directors to the Annual General Meeting.

Analysts’ recommendations

Investment specialists analyse Swisscom’s business performance, results and market situation on an ongoing basis. Their findings and recommendations offer valuable indicators for investors. 25 analysts regularly publish studies on Swisscom. At the end of 2015, 20% of the analysts recommended a buy rating for the Swisscom share, 56% a hold rating and 24% a sell rating. The average price target at 31 December 2015, according to the analysts’ estimates, was CHF 537 per share.