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Quarterly review 2015 and 2016


In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2015
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2016
                                         
Income statement
Net revenue   2,893   2,865   2,893   3,027   11,678   2,885               2,885
Goods and services purchased   (568)   (553)   (533)   (688)   (2,342)   (544)               (544)
Personnel expense   (756)   (757)   (703)   (803)   (3,019)   (765)               (765)
Other operating expense   (609)   (577)   (785)   (726)   (2,697)   (597)               (597)
Capitalised self-constructed assets and other income   91   104   94   189   478   102               102
Operating income (EBITDA)   1,051   1,082   966   999   4,098   1,081               1,081
Depreciation and amortisation   (507)   (521)   (517)   (541)   (2,086)   (546)               (546)
Operating income (EBIT)   544   561   449   458   2,012   535               535
Net interest expense   (47)   (49)   (51)   (42)   (189)   (39)               (39)
Other financial result   (57)   16   (6)   (36)   (83)   (40)               (40)
Result of associates   5   8   5   5   23                
Income before income taxes   445   536   397   385   1,763   456               456
Income tax expense   (94)   (103)   (123)   (81)   (401)   (92)               (92)
Net income   351   433   274   304   1,362   364               364
Attributable to equity holders of Swisscom Ltd   351   433   274   303   1,361   365               365
Attributable to non-controlling interests         1   1   (1)               (1)
                                         
Earnings per share (in CHF)   6.78   8.35   5.29   5.85   26.27   7.05               7.05
                                       
                                         
Net revenue
Swisscom Switzerland   2,355   2,342   2,375   2,473   9,545   2,345               2,345
Fastweb   468   453   457   489   1,867   482               482
Other Operating segments   144   156   149   154   603   129               129
Group Headquarters     1     1   2                
Intersegment elimination   (74)   (87)   (88)   (90)   (339)   (71)               (71)
Total net revenue   2,893   2,865   2,893   3,027   11,678   2,885               2,885
                                         
Segment result before depreciation and amortisation (EBITDA)
Swisscom Switzerland   955   969   833   844   3,601   966               966
Fastweb   130   148   156   185   619   144               144
Other Operating segments   16   19   24   10   69   22               22
Group Headquarters   (29)   (29)   (22)   (37)   (117)   (30)               (30)
Intersegment elimination   (4)   (6)   (7)   3   (14)   (3)               (3)
Reconciliation to pension cost   (17)   (19)   (18)   (6)   (60)   (18)               (18)
Total segment result (EBITDA)   1,051   1,082   966   999   4,098   1,081               1,081
                                         
Capital expenditure in property, plant and equipment and other intangible assets
Swisscom Switzerland   388   453   459   499   1,799   425               425
Fastweb   160   138   133   150   581   169               169
Other Operating segments   6   6   8   28   48   6               6
Intersegment elimination   (5)   (4)   (5)   (5)   (19)   (4)               (4)
Total capital expenditure   549   593   595   672   2,409   596               596
                                         
Full-time equivalent employees at end of period
Swisscom Switzerland   16,964   17,062   17,176   17,199   17,199   17,155               17,155
Fastweb   2,373   2,377   2,381   2,401   2,401   2,407               2,407
Other Operating segments   1,940   1,722   1,725   1,723   1,723   1,769               1,769
Group Headquarters   322   325   321   314   314   314               314
Total full-time equivalent employees   21,599   21,486   21,603   21,637   21,637   21,645               21,645
                                         
Operating free cash flow   344   401   684   415   1,844   184               184
Net debt   7,895   8,760   8,320   8,042   8,042   8,108               8,108

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2015
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2016
                                         
Swisscom Switzerland Revenue and results
Residential Customers   438   449   460   433   1,780   426               426
Small and Medium-Sized Enterprises   101   102   102   98   403   95               95
Enterprise Customers   132   140   140   134   546   128               128
Revenue mobile single subscription   671   691   702   665   2,729   649               649
Residential Customers   207   191   185   178   761   159               159
Small and Medium-Sized Enterprises   106   103   103   101   413   100               100
Enterprise Customers   139   141   140   137   557   138               138
Revenue fixed-line single subscription   452   435   428   416   1,731   397               397
Residential Customers   461   476   496   513   1,946   524               524
Small and Medium-Sized Enterprises   69   71   73   75   288   78               78
Enterprise Customers             1               1
Revenue bundles   530   547   569   588   2,234   603               603
Total revenue single subscription and bundles   1,653   1,673   1,699   1,669   6,694   1,649               1,649
Solution business   261   260   253   294   1,068   277               277
Hardware sold   148   128   124   202   602   136               136
Wholesale   148   140   145   146   579   139               139
Revenue other   126   124   137   145   532   128               128
Revenue from external customers   2,336   2,325   2,358   2,456   9,475   2,329               2,329
                                         
Residential Customers   1,252   1,247   1,267   1,309   5,075   1,252               1,252
Small and Medium-Sized Enterprises   320   332   344   343   1,339   328               328
Enterprise Customers   607   598   594   650   2,449   605               605
Wholesale   148   140   145   146   579   139               139
IT, Network & Innovation   9   8   8   8   33   5               5
Revenue from external customers   2,336   2,325   2,358   2,456   9,475   2,329               2,329
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Residential Customers   730   742   756   705   2,933   755               755
Small and Medium-Sized Enterprises   217   232   239   219   907   224               224
Enterprise Customers   219   226   237   228   910   212               212
Wholesale   101   92   (86)   91   198   93               93
IT, Network & Innovation   (312)   (323)   (312)   (400)   (1,347)   (318)               (318)
Intersegment elimination       (1)   1                  
Segment result (EBITDA)   955   969   833   844   3,601   966               966
Margin as % of net revenue   40.6   41.4   35.1   34.1   37.7   41.2               41.2
                                         
Fastweb, in EUR million
Residential Customers   216   219   218   225   878   223               223
Corporate Business   168   177   171   195   711   171               171
Wholesale hubbing   7   7   6   6   26   6               6
Wholesale other   37   29   28   23   117   38               38
Revenue from external customers   428   432   423   449   1,732   438               438
Segment result (EBITDA)   120   140   145   171   576   131               131
Margin as % of net revenue   28.0   32.4   34.2   38.0   33.2   29.9               29.9
                                         
Capital expenditure   147   132   124   138   541   154               154
Broadband access lines in thousand   2,124   2,157   2,172   2,201   2,201   2,241               2,241

In thousand, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2015
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2016
                                         
Swisscom Switzerland Operational data
Access lines
Single subscriptions   1,763   1,695   1,632   1,573   1,573   1,500               1,500
Bundles   972   1,002   1,027   1,056   1,056   1,082               1,082
Fixed access lines   2,735   2,697   2,659   2,629   2,629   2,582               2,582
                                         
Single subscriptions   650   615   581   542   542   503               503
Bundles   1,258   1,307   1,356   1,416   1,416   1,465               1,465
Broadband access lines retail   1,908   1,922   1,937   1,958   1,958   1,968               1,968
                                         
Single subscriptions   200   182   165   148   148   127               127
Bundles   1,001   1,056   1,110   1,183   1,183   1,240               1,240
Swisscom TV access lines   1,201   1,238   1,275   1,331   1,331   1,367               1,367
                                         
Prepaid single subscriptions   2,149   2,131   2,125   2,124   2,124   2,123               2,123
Postpaid single subscriptions   3,888   3,910   3,920   3,905   3,905   3,877               3,877
Mobile access lines single subscriptions   6,037   6,041   6,045   6,029   6,029   6,000               6,000
Bundles   531   551   573   596   596   615               615
Mobile access lines   6,568   6,592   6,618   6,625   6,625   6,615               6,615
                                         
Revenue generating units (RGU)   12,412   12,449   12,489   12,543   12,543   12,532               12,532
                                         
Broadband access lines wholesale   278   291   301   315   315   329               329
Unbundled fixed access lines   162   150   139   128   128   120               120
                                         
Bundles
2Play bundles   302   301   301   287   287   280               280
3Play bundles   680   712   741   790   790   826               826
4Play bundles   266   278   291   304   304   313               313
nPlay bundles   10   16   23   35   35   46               46
Total bundles   1,258   1,307   1,356   1,416   1,416   1,465               1,465
                                         
Swisscom Group Information by geographical regions
Net revenue in Switzerland   2,407   2,395   2,431   2,531   9,764   2,398               2,398
Net revenue in other countries   486   470   462   496   1,914   487               487
Total net revenue   2,893   2,865   2,893   3,027   11,678   2,885               2,885
                                         
EBITDA in Switzerland   914   932   804   811   3,461   936               936
EBITDA in other countries   137   150   162   188   637   145               145
Total EBITDA   1,051   1,082   966   999   4,098   1,081               1,081
                                         
Capital expenditure in Switzerland   388   454   460   520   1,822   425               425
Capital expenditure in other countries   161   139   135   152   587   171               171
Total capital expenditure   549   593   595   672   2,409   596               596
                                         
Full-time equivalent employees in Switzerland   18,776   18,828   18,936   18,965   18,965   18,960               18,960
Full-time equivalent employees in other countries   2,823   2,658   2,667   2,672   2,672   2,685               2,685
Total full-time equivalent employees   21,599   21,486   21,603   21,637   21,637   21,645               21,645

Forward-looking statements

This interim report is published in German and English. The German version is binding.

This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Swisscom’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of governmental regulators and other risk factors detailed in Swisscom’s and Fastweb’s past and future filings and reports, including those filed with the U.S. Securities and Exchange Commission and in past and future filings, press releases, reports and other information posted on Swisscom Group Companies’ websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Swisscom disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.