Quarterly review 2014 and 2015

In CHF million, except where indicated	1. quarter	2. quarter	3. quarter	4. quarter	2014	1. quarter	2. quarter	3. quarter	4. quarter	2015

Income statement
Net revenue	2,821	2,879	2,929	3,074	11,703	2,893	2,865	2,893	3,027	11,678
Goods and services purchased	(552)	(558)	(583)	(676)	(2,369)	(568)	(553)	(533)	(688)	(2,342)
Personnel expense	(692)	(684)	(655)	(720)	(2,751)	(756)	(757)	(703)	(803)	(3,019)
Other operating expenses	(597)	(599)	(620)	(724)	(2,540)	(609)	(577)	(785)	(726)	(2,697)
Capitalised costs and other income	81	83	119	87	370	91	104	94	189	478
Operating income (EBITDA)	1,061	1,121	1,190	1,041	4,413	1,051	1,082	966	999	4,098
Depreciation and amortisation	(510)	(512)	(511)	(558)	(2,091)	(507)	(521)	(517)	(541)	(2,086)
Operating income (EBIT)	551	609	679	483	2,322	544	561	449	458	2,012
Net interest expense	(61)	(53)	(51)	(53)	(218)	(47)	(49)	(51)	(42)	(189)
Other financial result	(23)	(11)	25	(33)	(42)	(57)	16	(6)	(36)	(83)
Result of associates	3	10	8	5	26	5	8	5	5	23
Income before income taxes	470	555	661	402	2,088	445	536	397	385	1,763
Income tax expense	(97)	(122)	(118)	(45)	(382)	(94)	(103)	(123)	(81)	(401)
Net income	373	433	543	357	1,706	351	433	274	304	1,362
Share attributable to equity holders of Swisscom Ltd	369	430	540	355	1,694	351	433	274	303	1,361
Share attributable to non-controlling interests	4	3	3	2	12	–	–	–	1	1

Earnings per share (in CHF)	7.12	8.30	10.43	6.85	32.70	6.78	8.35	5.29	5.85	26.27


Net revenue
Swisscom Switzerland	2,264	2,297	2,332	2,436	9,329	2,355	2,342	2,375	2,473	9,545
Fastweb	483	499	513	552	2,047	468	453	457	489	1,867
Other Operating Segments	144	168	172	181	665	144	156	149	154	603
Group Headquarters	–	1	–	1	2	–	1	–	1	2
Intersegment elimination	(70)	(86)	(88)	(96)	(340)	(74)	(87)	(88)	(90)	(339)
Total net revenue	2,821	2,879	2,929	3,074	11,703	2,893	2,865	2,893	3,027	11,678


Segment result before depreciation and amortisation (EBITDA)
Swisscom Switzerland	940	968	1,036	891	3,835	955	969	833	844	3,601
Fastweb	132	155	163	175	625	130	148	156	185	619
Other Operating Segments	22	33	31	17	103	16	19	24	10	69
Group Headquarters	(25)	(31)	(28)	(39)	(123)	(29)	(29)	(22)	(37)	(117)
Reconciliation pension cost	(2)	2	(4)	4	–	(17)	(19)	(18)	(6)	(60)
Intersegment elimination	(6)	(6)	(8)	(7)	(27)	(4)	(6)	(7)	3	(14)
Total segment result (EBITDA)	1,061	1,121	1,190	1,041	4,413	1,051	1,082	966	999	4,098


Capital expenditure in property, plant and equipment and other intangible assets
Swisscom Switzerland	346	423	470	505	1,744	388	453	459	499	1,799
Fastweb	173	173	148	188	682	160	138	133	150	581
Other Operating Segments	5	9	1	23	38	6	6	8	28	48
Intersegment elimination	(5)	(7)	(9)	(7)	(28)	(5)	(4)	(5)	(5)	(19)
Total capital expenditure	519	598	610	709	2,436	549	593	595	672	2,409


Full-time equivalent employees at end of year
Swisscom Switzerland	15,662	15,761	16,375	16,445	16,445	16,964	17,062	17,176	17,199	17,199
Fastweb	2,362	2,373	2,378	2,391	2,391	2,373	2,377	2,381	2,401	2,401
Other Operating Segments	1,731	1,768	1,994	1,962	1,962	1,940	1,722	1,725	1,723	1,723
Group Headquarters	326	326	328	327	327	322	325	321	314	314
Total headcount	20,081	20,228	21,075	21,125	21,125	21,599	21,486	21,603	21,637	21,637

Operating free cash flow	334	496	640	390	1,860	344	401	684	415	1,844
Net debt	7,676	8,502	8,398	8,120	8,120	7,895	8,760	8,320	8,042	8,042

In CHF million, except where indicated	1. quarter	2. quarter	3. quarter	4. quarter	2014	1. quarter	2. quarter	3. quarter	4. quarter	2015

Swisscom Switzerland Net revenue and results
Residential Customers	435	448	465	447	1,795	438	449	460	433	1,780
Small and Medium-Sized Enterprises	103	107	104	105	419	101	102	102	98	403
Enterprise Customers	135	141	142	144	562	132	140	140	134	546
Revenue mobile single subscriptions	673	696	711	696	2,776	671	691	702	665	2,729
Residential Customers	257	245	233	226	961	207	191	185	178	761
Small and Medium-Sized Enterprises	115	111	109	107	442	106	103	103	101	413
Enterprise Customers	143	141	139	141	564	139	141	140	137	557
Revenue fixed-line single subscriptions	515	497	481	474	1,967	452	435	428	416	1,731
Residential Customers	381	408	430	449	1,668	461	476	496	513	1,946
Small and Medium-Sized Enterprises	58	62	66	67	253	69	71	73	75	288
Revenue bundles	439	470	496	516	1,921	530	547	569	588	2,234
Total revenue single subscriptions and bundles	1,627	1,663	1,688	1,686	6,664	1,653	1,673	1,699	1,669	6,694
Solution business	249	261	245	263	1,018	261	260	253	294	1,068
Hardware sales	138	121	132	198	589	148	128	124	202	602
Wholesale	145	139	144	142	570	148	140	145	146	579
Revenue other	87	93	105	127	412	126	124	137	145	532
Total revenue from external customers	2,246	2,277	2,314	2,416	9,253	2,336	2,325	2,358	2,456	9,475

Residential Customers	1,202	1,225	1,256	1,323	5,006	1,252	1,247	1,267	1,309	5,075
Small and Medium-Sized Enterprises	314	319	327	341	1,301	320	332	344	343	1,339
Enterprise Customers	578	586	580	600	2,344	607	598	594	650	2,449
Wholesale	145	139	144	142	570	148	140	145	146	579
IT, Network & Innovation	7	8	7	10	32	9	8	8	8	33
Revenue from external customers	2,246	2,277	2,314	2,416	9,253	2,336	2,325	2,358	2,456	9,475

Segment result before depreciation and amortisation (EBITDA)
Residential Customers	710	716	731	688	2,845	730	742	756	705	2,933
Small and Medium-Sized Enterprises	226	233	233	223	915	217	232	239	219	907
Enterprise Customers	223	233	243	243	942	219	226	237	228	910
Wholesale	95	92	98	96	381	101	92	(86)	91	198
IT, Network & Innovation	(314)	(306)	(270)	(357)	(1,247)	(312)	(323)	(312)	(400)	(1,347)
Intersegment elimination	–	–	1	(2)	(1)	–	–	(1)	1	–
Segment result (EBITDA)	940	968	1,036	891	3,835	955	969	833	844	3,601
Margin as % of net revenue	41.5	42.1	44.4	36.6	41.1	40.6	41.4	35.1	34.1	37.7

Fastweb, in EUR million
Residential Customers	188	188	187	190	753	193	196	196	204	789
Corporate Business	177	188	202	222	789	191	200	193	216	800
Wholesale hubbing	7	7	7	7	28	7	7	6	6	26
Wholesale other	23	26	28	38	115	37	29	28	23	117
Revenue from external customers	395	409	424	457	1,685	428	432	423	449	1,732
Segment result (EBITDA)	108	128	134	145	515	120	140	145	171	576
Margin as % of net revenue	27.3	31.3	31.6	31.7	30.5	28.0	32.4	34.2	38.0	33.2

Capital expenditure	142	142	122	156	562	147	132	124	138	541
Broadband access lines in thousand	1,984	1,994	2,016	2,072	2,072	2,124	2,157	2,172	2,201	2,201

In thousand, except where indicated	1. quarter	2. quarter	3. quarter	4. quarter	2014	1. quarter	2. quarter	3. quarter	4. quarter	2015

Swisscom Switzerland Operational data
Access lines
Single subscriptions	2,007	1,948	1,902	1,840	1,840	1,763	1,695	1,632	1,573	1,573
Bundles	849	882	909	938	938	972	1,002	1,027	1,056	1,056
Fixed access lines	2,856	2,830	2,811	2,778	2,778	2,735	2,697	2,659	2,629	2,629

Single subscriptions	773	745	718	681	681	650	615	581	542	542
Bundles	1,060	1,110	1,154	1,209	1,209	1,258	1,307	1,356	1,416	1,416
Broadband access lines retail	1,833	1,855	1,872	1,890	1,890	1,908	1,922	1,937	1,958	1,958

Single subscriptions	271	259	246	218	218	200	182	165	148	148
Bundles	781	832	879	947	947	1,001	1,056	1,110	1,183	1,183
Swisscom TV access lines	1,052	1,091	1,125	1,165	1,165	1,201	1,238	1,275	1,331	1,331

Prepaid single subscriptions	2,173	2,165	2,165	2,163	2,163	2,149	2,131	2,125	2,124	2,124
Postpaid single subscriptions	3,812	3,828	3,850	3,872	3,872	3,888	3,910	3,920	3,905	3,905
Mobile access lines single subscriptions	5,985	5,993	6,015	6,035	6,035	6,037	6,041	6,045	6,029	6,029
Bundles	444	467	484	505	505	531	551	573	596	596
Mobile access lines	6,429	6,460	6,499	6,540	6,540	6,568	6,592	6,618	6,625	6,625

Revenue generating units (RGU)	12,170	12,236	12,307	12,373	12,373	12,412	12,449	12,489	12,543	12,543

Broadband access lines wholesale	221	224	241	262	262	278	291	301	315	315
Unbundled fixed access lines	241	228	204	180	180	162	150	139	128	128

Bundles
2play bundles	287	294	302	304	304	302	301	301	287	287
3play bundles	555	584	609	646	646	680	712	741	790	790
4play bundles	218	231	242	255	255	266	278	291	304	304
nplay bundles	–	1	1	4	4	10	16	23	35	35
Total bundles	1,060	1,110	1,154	1,209	1,209	1,258	1,307	1,356	1,416	1,416

Swisscom Group Information by geographical regions
Net revenue in Switzerland	2,323	2,361	2,401	2,501	9,586	2,407	2,395	2,431	2,531	9,764
Net revenue in other countries	498	518	528	573	2,117	486	470	462	496	1,914
Total net revenue	2,821	2,879	2,929	3,074	11,703	2,893	2,865	2,893	3,027	11,678

EBITDA Switzerland	924	966	1,028	870	3,788	914	932	804	811	3,461
EBITDA in other countries	137	155	162	171	625	137	150	162	188	637
Total EBITDA	1,061	1,121	1,190	1,041	4,413	1,051	1,082	966	999	4,098

Capital expenditure in Switzerland	345	424	463	519	1,751	388	454	460	520	1,822
Capital expenditure in other countries	174	174	147	190	685	161	139	135	152	587
Total capital expenditure	519	598	610	709	2,436	549	593	595	672	2,409

Full-time equivalent employees in Switzerland	17,395	17,545	18,220	18,272	18,272	18,776	18,828	18,936	18,965	18,965
Full-time equivalent employees in other countries	2,686	2,683	2,855	2,853	2,853	2,823	2,658	2,667	2,672	2,672
Total headcount	20,081	20,228	21,075	21,125	21,125	21,599	21,486	21,603	21,637	21,637

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Quarterly review 2014 and 2015