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25 Investments in associates

In CHF million   2016   2015
Balance at 1 January   223   182
Additions   11   50
Disposals   (41)  
Dividends   (17)   (22)
Share of net results   26   23
Share of other comprehensive income   (7)  
Foreign currency translation adjustments   (2)   (10)
Balance at 31 December   193   223

The participations which are reflected in the consolidated financial statements of Swisscom using the equity method of accounting are set out in Note 40. Dividend income of CHF 17 million (prior year: CHF 22 million) is attributable mainly to the dividends distributed by Belgacom International Carrier Services. In 2016, an aggregate negative amount of CHF 3 million was recognised as part of the attributable share of results in associates. Included in this amount are impairment losses of CHF 29 million on loans to associates which are regarded as a net investment in associates. See Note 19.

In December 2016, Swisscom disposed of its share in Metroweb S.p.A. for a purchase price of EUR 80 million (CHF 86 million) thus giving rise to a gain on disposal of CHF 41 million which was recognised as other finance income.

Additions in 2015 comprise investments by Swisscom in finnova ltd bankware (banking software), siroop Ltd (online marketplace), Admeira Ltd (previously known as Ringier Publishing AG, advertising marketing) and Managed Mobility AG (fleet management and fleet optimisation).

The following table provides selected summarised key financial data of the associates:

In CHF million   2016   2015
         
Income statement
Net revenue   2,453   2,575
Operating expense   (2,371)   (2,418)
Operating income   82   157
Net income   34   104
 
         
Balance sheet at 31 December
Current assets   1,178   1,073
Non-current assets   202   933
Current liabilities   (899)   (964)
Non-current liabilities   (113)   (429)
Equity   368   613