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About this report

Compared to the prior year, the contents and structure of the 2017 Swisscom consolidated financial statements are fundamentally redesigned in order to enhance, for its addressees, the transparency and relevance of the financial reporting information for decision-making purposes. These amendments encompass the following:

  • modification of the structure of the notes.
  • elimination of irrelevant and immaterial information.
  • reduction of the complexity of note disclosures through highlighting and the use of tables.

In addition, the following changes were made to improve the presentation of the consolidated financial statements:

  • expenses for materials and services used are now designated as «direct costs». Commissions paid to dealers are now classified under contract acquisition costs as part of direct costs. In addition, usage charges for networks of other telecommunication providers abroad are now disclosed under traffic charges of subsidiaries abroad. Until the present, dealer commissions and traffic charges were classified under other operating costs.
  • all revenue and cost accruals which apply in the normal course of business are now disclosed as current items in the balance sheet.
  • dividends received as well as interest paid and received are now disclosed under cash flow from operating activities.

The prior-year amounts were restated as follows:

In CHF million   Reported   Adjustment   Restated
             
Income statement
Direct costs   (2,323)   (436)   (2,759)
Other operating expense   (2,548)   436   (2,112)
             
Balance sheet
Current assets   3,535   94   3,629
Non-current assets   17,919   (94)   17,825
Current liabilities   (3,978)   (174)   (4,152)
Non-current liabilities   (10,954)   174   (10,780)
             
Cash flow statement
Cash flow from operating activities   3,862   (140)   3,722
Cash flow used in investing activities   (2,402)   (44)   (2,446)
Cash flow used in financing activities   (1,453)   184   (1,269)