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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   2,884           5,769
Goods and services purchased   (568)   (553)   (533)   (688)   (2,342)   (544)   (558)           (1,102)
Personnel expense   (756)   (757)   (703)   (803)   (3,019)   (765)   (743)           (1,508)
Other operating expense   (609)   (577)   (785)   (726)   (2,697)   (597)   (600)           (1,197)
Capitalised self-constructed assets and other income   91   104   94   189   478   102   163           265
Operating income (EBITDA)   1,051   1,082   966   999   4,098   1,081   1,146           2,227
Depreciation and amortisation   (507)   (521)   (517)   (541)   (2,086)   (546)   (546)           (1,092)
Operating income (EBIT)   544   561   449   458   2,012   535   600           1,135
Net interest expense   (47)   (49)   (51)   (42)   (189)   (39)   (42)           (81)
Other financial result   (57)   16   (6)   (36)   (83)   (40)   (24)           (64)
Result of associates   5   8   5   5   23              
Income before income taxes   445   536   397   385   1,763   456   534           990
Income tax expense   (94)   (103)   (123)   (81)   (401)   (92)   (110)           (202)
Net income   351   433   274   304   1,362   364   424           788
Attributable to equity holders of Swisscom Ltd   351   433   274   303   1,361   365   424           789
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   8.36           15.23
                                         
Net revenue
Swisscom Switzerland   2,355   2,342   2,375   2,473   9,545   2,345   2,337           4,682
Fastweb   468   453   457   489   1,867   482   483           965
Other Operating Segments   144   156   149   154   603   129   146           275
Group Headquarters     1     1   2     1           1
Intersegment elimination   (74)   (87)   (88)   (90)   (339)   (71)   (83)           (154)
Total net revenue   2,893   2,865   2,893   3,027   11,678   2,885   2,884           5,769
                   
                                         
Segment result before depreciation and amortisation (EBITDA)
Swisscom Switzerland   955   969   833   844   3,601   966   946           1,912
Fastweb   130   148   156   185   619   144   223           367
Other Operating Segments   16   19   24   10   69   22   27           49
Group Headquarters   (29)   (29)   (22)   (37)   (117)   (30)   (27)           (57)
Intersegment elimination   (4)   (6)   (7)   3   (14)   (3)   (6)           (9)
Reconciliation pension cost   (17)   (19)   (18)   (6)   (60)   (18)   (17)           (35)
Total segment result (EBITDA)   1,051   1,082   966   999   4,098   1,081   1,146           2,227
                   
                                         
Capital expenditure in property, plant and equipment and other intangible assets
Swisscom Switzerland   388   453   459   499   1,799   425   447           872
Fastweb   160   138   133   150   581   169   145           314
Other Operating Segments   6   6   8   28   48   6   11           17
Intersegment elimination   (5)   (4)   (5)   (5)   (19)   (4)   (6)           (10)
Total capital expenditure   549   593   595   672   2,409   596   597           1,193
                   
                                         
Full-time equivalent employees at end of period
Swisscom Switzerland   16,964   17,062   17,176   17,199   17,199   17,155   16,969           16,969
Fastweb   2,373   2,377   2,381   2,401   2,401   2,407   2,422           2,422
Other Operating Segments   1,940   1,722   1,725   1,723   1,723   1,769   1,743           1,743
Group Headquarters   322   325   321   314   314   314   309           309
Total full-time equivalent employees   21,599   21,486   21,603   21,637   21,637   21,645   21,443           21,443
                                         
Operating free cash flow   344   401   684   415   1,844   184   604           788
Net debt   7,895   8,760   8,320   8,042   8,042   8,108   8,856           8,856

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   428           854
Small and Medium-Sized Enterprises   101   102   102   98   403   95   93           188
Enterprise Customers   132   140   140   134   546   128   128           256
Revenue mobile single subscription   671   691   702   665   2,729   649   649           1,298
Residential Customers   207   191   185   178   761   159   147           306
Small and Medium-Sized Enterprises   106   103   103   101   413   100   99           199
Enterprise Customers   139   141   140   137   557   138   136           274
Revenue fixed-line single subscription   452   435   428   416   1,731   397   382           779
Residential Customers   461   476   496   513   1,946   524   528           1,052
Small and Medium-Sized Enterprises   69   71   73   75   288   78   80           158
Enterprise Customers             1   2           3
Revenue bundles   530   547   569   588   2,234   603   610           1,213
Total revenue single subscription and bundles   1,653   1,673   1,699   1,669   6,694   1,649   1,641           3,290
Solution business   261   260   253   294   1,068   277   273           550
Hardware sold   148   128   124   202   602   136   123           259
Wholesale   148   140   145   146   579   139   148           287
Revenue other   126   124   137   145   532   128   136           264
Revenue from external customers   2,336   2,325   2,358   2,456   9,475   2,329   2,321           4,650
                                         
Residential Customers   1,252   1,247   1,267   1,309   5,075   1,252   1,236           2,488
Small and Medium-Sized Enterprises   320   332   344   343   1,339   328   334           662
Enterprise Customers   607   598   594   650   2,449   605   597           1,202
Wholesale   148   140   145   146   579   139   148           287
IT, Network & Innovation   9   8   8   8   33   5   6           11
Revenue from external customers   2,336   2,325   2,358   2,456   9,475   2,329   2,321           4,650
                   
                                         
Segment result before depreciation and amortisation (EBITDA)
Residential Customers   730   742   756   705   2,933   755   729           1,484
Small and Medium-Sized Enterprises   217   232   239   219   907   224   228           452
Enterprise Customers   219   226   237   228   910   212   205           417
Wholesale   101   92   (86)   91   198   93   100           193
IT, Network & Innovation   (312)   (323)   (312)   (400)   (1,347)   (318)   (316)           (634)
Intersegment elimination       (1)   1                
Segment result (EBITDA)   955   969   833   844   3,601   966   946           1,912
Margin as % of net revenue   40.6   41.4   35.1   34.1   37.7   41.2   40.5           40.8
                   
                                 
Fastweb, in EUR million
Residential Customers   216   219   218   225   878   223   227           450
Corporate Business   168   177   171   195   711   171   177           348
Wholesale hubbing   7   7   6   6   26   6   5           11
Wholesale other   37   29   28   23   117   38   30           68
Revenue from external customers   428   432   423   449   1,732   438   439           877
Segment result (EBITDA)   120   140   145   171   576   131   204           335
Margin as % of net revenue   28.0   32.4   34.2   38.0   33.2   29.9   46.3           38.2
                                         
Capital expenditure   147   132   124   138   541   154   132           286
Broadband access lines in thousand   2,124   2,157   2,172   2,201   2,201   2,241   2,257           2,257

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   1,412           1,412
Bundles   972   1,002   1,027   1,056   1,056   1,082   1,106           1,106
Fixed access lines   2,735   2,697   2,659   2,629   2,629   2,582   2,518           2,518
                                         
Single subscriptions   650   615   581   542   542   503   463           463
Bundles   1,258   1,307   1,356   1,416   1,416   1,465   1,515           1,515
Broadband access lines retail   1,908   1,922   1,937   1,958   1,958   1,968   1,978           1,978
                                         
Single subscriptions   200   182   165   148   148   127   111           111
Bundles   1,001   1,056   1,110   1,183   1,183   1,240   1,289           1,289
Swisscom TV access lines   1,201   1,238   1,275   1,331   1,331   1,367   1,400           1,400
                                         
Prepaid single subscriptions   2,149   2,131   2,125   2,124   2,124   2,123   2,112           2,112
Postpaid single subscriptions   3,888   3,910   3,920   3,905   3,905   3,877   3,882           3,882
Mobile access lines single subscriptions   6,037   6,041   6,045   6,029   6,029   6,000   5,994           5,994
Bundles   531   551   573   596   596   615   629           629
Mobile access lines   6,568   6,592   6,618   6,625   6,625   6,615   6,623           6,623
                                         
Revenue generating units (RGU)   12,412   12,449   12,489   12,543   12,543   12,532   12,519           12,519
                                         
Broadband access lines wholesale   278   291   301   315   315   329   342           342
Unbundled fixed access lines   162   150   139   128   128   120   125           125
                                         
Bundles
2Play bundles   302   301   301   287   287   280   281           281
3Play bundles   680   712   741   790   790   826   856           856
4Play bundles   266   278   291   304   304   313   319           319
nPlay bundles   10   16   23   35   35   46   59           59
Total bundles   1,258   1,307   1,356   1,416   1,416   1,465   1,515           1,515
                                         
Swisscom Group Information by geographical regions
Net revenue in Switzerland   2,407   2,395   2,431   2,531   9,764   2,398   2,396           4,794
Net revenue in other countries   486   470   462   496   1,914   487   488           975
Total net revenue   2,893   2,865   2,893   3,027   11,678   2,885   2,884           5,769
                                         
EBITDA in Switzerland   914   932   804   811   3,461   936   923           1,859
EBITDA in other countries   137   150   162   188   637   145   223           368
Total EBITDA   1,051   1,082   966   999   4,098   1,081   1,146           2,227
                                         
Capital expenditure in Switzerland   388   454   460   520   1,822   425   451           876
Capital expenditure in other countries   161   139   135   152   587   171   146           317
Total capital expenditure   549   593   595   672   2,409   596   597           1,193
                                         
Full-time equivalent employees in Switzerland   18,776   18,828   18,936   18,965   18,965   18,960   18,754           18,754
Full-time equivalent employees in other countries   2,823   2,658   2,667   2,672   2,672   2,685   2,689           2,689
Total full-time equivalent employees   21,599   21,486   21,603   21,637   21,637   21,645   21,443           21,443

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.