Quarterly review 2016 and 2017
In CHF million, except where indicated |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2016 |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2017 |
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Income statement | ||||||||||||||||||||
Net revenue | 2,885 | 2,884 | 2,874 | 3,000 | 11,643 | 2,831 | 2,859 | 2,914 | 8,604 | |||||||||||
Goods and services purchased | (544) | (558) | (580) | (641) | (2,323) | (522) | (503) | (585) | (1,610) | |||||||||||
Personnel expense | (765) | (743) | (695) | (744) | (2,947) | (753) | (738) | (695) | (2,186) | |||||||||||
Other operating expense | (597) | (600) | (613) | (738) | (2,548) | (574) | (621) | (626) | (1,821) | |||||||||||
Capitalised self-constructed assets and other income | 102 | 163 | 94 | 109 | 468 | 91 | 190 | 86 | 367 | |||||||||||
Operating income (EBITDA) | 1,081 | 1,146 | 1,080 | 986 | 4,293 | 1,073 | 1,187 | 1,094 | 3,354 | |||||||||||
Depreciation and amortisation | (546) | (546) | (524) | (529) | (2,145) | (523) | (534) | (531) | (1,588) | |||||||||||
Operating income (EBIT) | 535 | 600 | 556 | 457 | 2,148 | 550 | 653 | 563 | 1,766 | |||||||||||
Net interest expense | (39) | (42) | (31) | (43) | (155) | (36) | (38) | (35) | (109) | |||||||||||
Other financial result | (40) | (24) | (5) | 69 | – | (13) | (11) | 15 | (9) | |||||||||||
Result of associates | – | – | 1 | (4) | (3) | (1) | (2) | (3) | (6) | |||||||||||
Income before income taxes | 456 | 534 | 521 | 479 | 1,990 | 500 | 602 | 540 | 1,642 | |||||||||||
Income tax expense | (92) | (110) | (112) | (72) | (386) | (127) | (136) | (110) | (373) | |||||||||||
Net income | 364 | 424 | 409 | 407 | 1,604 | 373 | 466 | 430 | 1,269 | |||||||||||
Attributable to equity holders of Swisscom Ltd | 365 | 424 | 410 | 405 | 1,604 | 373 | 467 | 430 | 1,270 | |||||||||||
Attributable to non-controlling interests | (1) | – | (1) | 2 | – | – | (1) | – | (1) | |||||||||||
Earnings per share (in CHF) | 7.05 | 8.20 | 7.90 | 7.82 | 30.97 | 7.20 | 9.02 | 8.30 | 24.52 | |||||||||||
Net revenue | ||||||||||||||||||||
Swisscom Switzerland | 2,305 | 2,292 | 2,293 | 2,367 | 9,257 | 2,246 | 2,241 | 2,250 | 6,737 | |||||||||||
Fastweb | 482 | 483 | 476 | 516 | 1,957 | 484 | 511 | 556 | 1,551 | |||||||||||
Other Operating Segments | 170 | 195 | 199 | 225 | 789 | 187 | 210 | 215 | 612 | |||||||||||
Group Headquarters | – | 1 | – | 1 | 2 | – | 1 | 1 | 2 | |||||||||||
Intersegment elimination | (72) | (87) | (94) | (109) | (362) | (86) | (104) | (108) | (298) | |||||||||||
Total net revenue | 2,885 | 2,884 | 2,874 | 3,000 | 11,643 | 2,831 | 2,859 | 2,914 | 8,604 | |||||||||||
Segment result before depreciation and amortisation (EBITDA) | ||||||||||||||||||||
Swisscom Switzerland | 954 | 927 | 916 | 819 | 3,616 | 928 | 924 | 909 | 2,761 | |||||||||||
Fastweb | 144 | 223 | 169 | 185 | 721 | 155 | 279 | 194 | 628 | |||||||||||
Other Operating Segments | 34 | 46 | 47 | 37 | 164 | 40 | 40 | 49 | 129 | |||||||||||
Group Headquarters | (30) | (27) | (27) | (30) | (114) | (26) | (21) | (24) | (71) | |||||||||||
Intersegment elimination | (3) | (6) | (5) | (8) | (22) | (4) | (8) | (6) | (18) | |||||||||||
Reconciliation pension cost | (18) | (17) | (20) | (17) | (72) | (20) | (27) | (28) | (75) | |||||||||||
Total segment result (EBITDA) | 1,081 | 1,146 | 1,080 | 986 | 4,293 | 1,073 | 1,187 | 1,094 | 3,354 | |||||||||||
Capital expenditure in property, plant and equipment and other intangible assets | ||||||||||||||||||||
Swisscom Switzerland | 424 | 448 | 411 | 472 | 1,755 | 357 | 362 | 364 | 1,083 | |||||||||||
Fastweb | 169 | 145 | 156 | 163 | 633 | 165 | 161 | 158 | 484 | |||||||||||
Other Operating Segments | 7 | 10 | 13 | 19 | 49 | 11 | 13 | 15 | 39 | |||||||||||
Intersegment elimination | (4) | (6) | (5) | (6) | (21) | (4) | (8) | (7) | (19) | |||||||||||
Total capital expenditure | 596 | 597 | 575 | 648 | 2,416 | 529 | 528 | 530 | 1,587 | |||||||||||
Full-time equivalent employees at end of period | ||||||||||||||||||||
Swisscom Switzerland | 16,417 | 16,221 | 16,035 | 15,876 | 15,876 | 15,719 | 15,420 | 15,307 | 15,307 | |||||||||||
Fastweb | 2,407 | 2,422 | 2,457 | 2,468 | 2,468 | 2,503 | 2,494 | 2,509 | 2,509 | |||||||||||
Other Operating Segments | 2,507 | 2,491 | 2,503 | 2,493 | 2,493 | 2,575 | 2,585 | 2,617 | 2,617 | |||||||||||
Group Headquarters | 314 | 309 | 297 | 290 | 290 | 282 | 276 | 271 | 271 | |||||||||||
Total full-time equivalent employees | 21,645 | 21,443 | 21,292 | 21,127 | 21,127 | 21,079 | 20,775 | 20,704 | 20,704 | |||||||||||
Operating free cash flow | 184 | 604 | 616 | 387 | 1,791 | 463 | 549 | 660 | 1,672 | |||||||||||
Net debt | 8,108 | 8,856 | 8,310 | 7,846 | 7,846 | 7,689 | 8,441 | 7,868 | 7,868 |
In CHF million, except where indicated |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2016 |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2017 |
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Swisscom Switzerland Revenue and results | ||||||||||||||||||||
Residential Customers | 520 | 522 | 531 | 523 | 2,096 | 501 | 500 | 499 | 1,500 | |||||||||||
Enterprise Customers | 125 | 125 | 126 | 127 | 503 | 120 | 122 | 121 | 363 | |||||||||||
Revenue mobile single subscription | 645 | 647 | 657 | 650 | 2,599 | 621 | 622 | 620 | 1,863 | |||||||||||
Residential Customers | 260 | 245 | 225 | 197 | 927 | 178 | 155 | 132 | 465 | |||||||||||
Enterprise Customers | 145 | 142 | 140 | 145 | 572 | 140 | 136 | 132 | 408 | |||||||||||
Revenue fixed-line single subscription | 405 | 387 | 365 | 342 | 1,499 | 318 | 291 | 264 | 873 | |||||||||||
Residential Customers | 602 | 608 | 631 | 654 | 2,495 | 674 | 689 | 711 | 2,074 | |||||||||||
Enterprise Customers | 1 | 2 | 2 | 2 | 7 | 3 | 4 | 5 | 12 | |||||||||||
Revenue bundles | 603 | 610 | 633 | 656 | 2,502 | 677 | 693 | 716 | 2,086 | |||||||||||
Other revenue Enterprise Customers | 16 | 16 | 14 | 16 | 62 | 16 | 15 | 15 | 46 | |||||||||||
Total revenue telecoms services | 1,669 | 1,660 | 1,669 | 1,664 | 6,662 | 1,632 | 1,621 | 1,615 | 4,868 | |||||||||||
Solution business | 268 | 269 | 252 | 283 | 1,072 | 261 | 271 | 264 | 796 | |||||||||||
Trade goods | 157 | 144 | 145 | 191 | 637 | 147 | 145 | 142 | 434 | |||||||||||
Wholesale | 139 | 148 | 149 | 155 | 591 | 138 | 135 | 157 | 430 | |||||||||||
Revenue other | 52 | 50 | 57 | 54 | 213 | 49 | 50 | 49 | 148 | |||||||||||
Revenue from external customers | 2,285 | 2,271 | 2,272 | 2,347 | 9,175 | 2,227 | 2,222 | 2,227 | 6,676 | |||||||||||
Residential Customers | 1,532 | 1,513 | 1,532 | 1,555 | 6,132 | 1,497 | 1,481 | 1,478 | 4,456 | |||||||||||
Enterprise Customers | 609 | 603 | 579 | 630 | 2,421 | 586 | 599 | 586 | 1,771 | |||||||||||
Wholesale | 139 | 148 | 149 | 155 | 591 | 138 | 135 | 157 | 430 | |||||||||||
IT, Netowork & Infrastructure | 5 | 7 | 12 | 7 | 31 | 6 | 7 | 6 | 19 | |||||||||||
Revenue from external customers | 2,285 | 2,271 | 2,272 | 2,347 | 9,175 | 2,227 | 2,222 | 2,227 | 6,676 | |||||||||||
Segment result before depreciation and amortisation (EBITDA) | ||||||||||||||||||||
Residential Customers | 951 | 926 | 907 | 867 | 3,651 | 931 | 910 | 871 | 2,712 | |||||||||||
Enterprise Customers | 217 | 209 | 209 | 213 | 848 | 201 | 215 | 214 | 630 | |||||||||||
Wholesale | 91 | 97 | 102 | 89 | 379 | 104 | 103 | 123 | 330 | |||||||||||
IT, Netowork & Infrastructure | (305) | (305) | (302) | (350) | (1,262) | (308) | (304) | (298) | (910) | |||||||||||
Intersegment elimination | – | – | – | – | – | – | – | (1) | (1) | |||||||||||
Segment result (EBITDA) | 954 | 927 | 916 | 819 | 3,616 | 928 | 924 | 909 | 2,761 | |||||||||||
Margin as % of net revenue | 41.4 | 40.4 | 39.9 | 34.6 | 39.1 | 41.3 | 41.2 | 40.4 | 41.0 | |||||||||||
Fastweb, in EUR million | ||||||||||||||||||||
Residential Customers | 223 | 227 | 225 | 231 | 906 | 232 | 238 | 253 | 723 | |||||||||||
Corporate Business | 171 | 177 | 169 | 189 | 706 | 168 | 173 | 177 | 518 | |||||||||||
Wholesale | 44 | 35 | 40 | 56 | 175 | 51 | 57 | 58 | 166 | |||||||||||
Revenue from external customers | 438 | 439 | 434 | 476 | 1,787 | 451 | 468 | 488 | 1,407 | |||||||||||
Segment result (EBITDA) | 131 | 204 | 155 | 171 | 661 | 145 | 258 | 170 | 573 | |||||||||||
Margin as % of net revenue | 29.8 | 46.3 | 35.5 | 35.8 | 36.8 | 32.0 | 54.9 | 34.6 | 40.5 | |||||||||||
Capital expenditure | 154 | 132 | 144 | 151 | 581 | 155 | 147 | 139 | 441 | |||||||||||
Broadband access lines in thousand | 2,241 | 2,257 | 2,295 | 2,355 | 2,355 | 2,400 | 2,411 | 2,421 | 2,421 | |||||||||||
Mobile access lines in thousand | 582 | 606 | 630 | 676 | 676 | 763 | 880 | 989 | 989 |
In thousand, except where indicated |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2016 |
1. quarter |
2. quarter |
3. quarter |
4. quarter |
2017 |
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Swisscom Switzerland Operational data | ||||||||||||||||||||
Access lines | ||||||||||||||||||||
Residential Customers | 2,319 | 2,260 | 2,202 | 2,134 | 2,134 | 2,063 | 1,982 | 1,911 | 1,911 | |||||||||||
Enterprise Customers | 263 | 258 | 256 | 233 | 233 | 234 | 226 | 217 | 217 | |||||||||||
Fixed telephony access lines | 2,582 | 2,518 | 2,458 | 2,367 | 2,367 | 2,297 | 2,208 | 2,128 | 2,128 | |||||||||||
Residential Customers | 1,930 | 1,940 | 1,947 | 1,954 | 1,954 | 1,950 | 1,951 | 1,962 | 1,962 | |||||||||||
Enterprise Customers | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | |||||||||||
Broadband access lines | 1,968 | 1,978 | 1,985 | 1,992 | 1,992 | 1,988 | 1,989 | 2,000 | 2,000 | |||||||||||
Residential Customers | 1,323 | 1,351 | 1,377 | 1,418 | 1,418 | 1,438 | 1,447 | 1,453 | 1,453 | |||||||||||
Swisscom TV access lines | 1,323 | 1,351 | 1,377 | 1,418 | 1,418 | 1,438 | 1,447 | 1,453 | 1,453 | |||||||||||
Postpaid Retail Customers | 3,264 | 3,269 | 3,286 | 3,305 | 3,305 | 3,306 | 3,311 | 3,333 | 3,333 | |||||||||||
Postpaid Enterprise Customers | 1,228 | 1,242 | 1,242 | 1,247 | 1,247 | 1,256 | 1,260 | 1,268 | 1,268 | |||||||||||
Postpaid mobile acces lines | 4,492 | 4,511 | 4,528 | 4,552 | 4,552 | 4,562 | 4,571 | 4,601 | 4,601 | |||||||||||
Prepaid Retail Customers | 2,123 | 2,112 | 2,085 | 2,060 | 2,060 | 2,039 | 2,018 | 1,980 | 1,980 | |||||||||||
Mobile access lines | 6,615 | 6,623 | 6,613 | 6,612 | 6,612 | 6,601 | 6,589 | 6,581 | 6,581 | |||||||||||
RGU Retail Customers | 10,959 | 10,932 | 10,897 | 10,871 | 10,871 | 10,796 | 10,709 | 10,639 | 10,639 | |||||||||||
RGU Enterprise Customers | 1,529 | 1,538 | 1,536 | 1,518 | 1,518 | 1,528 | 1,524 | 1,523 | 1,523 | |||||||||||
Revenue generating units (RGU) | 12,488 | 12,470 | 12,433 | 12,389 | 12,389 | 12,324 | 12,233 | 12,162 | 12,162 | |||||||||||
Therof in bundles | 4,362 | 4,497 | 4,709 | 4,952 | 4,952 | 5,146 | 5,290 | 5,520 | 5,520 | |||||||||||
Bundles | 1,465 | 1,515 | 1,588 | 1,672 | 1,672 | 1,736 | 1,784 | 1,850 | 1,850 | |||||||||||
Broadband access lines wholesale | 329 | 342 | 351 | 364 | 364 | 385 | 402 | 419 | 419 | |||||||||||
Unbundled fixed access lines | 120 | 125 | 128 | 128 | 128 | 120 | 116 | 114 | 114 | |||||||||||
Swisscom Group Information by geographical regions | ||||||||||||||||||||
Net revenue in Switzerland | 2,398 | 2,396 | 2,393 | 2,478 | 9,665 | 2,343 | 2,343 | 2,352 | 7,038 | |||||||||||
Net revenue in other countries | 487 | 488 | 481 | 522 | 1,978 | 488 | 516 | 562 | 1,566 | |||||||||||
Total net revenue | 2,885 | 2,884 | 2,874 | 3,000 | 11,643 | 2,831 | 2,859 | 2,914 | 8,604 | |||||||||||
EBITDA in Switzerland | 936 | 923 | 908 | 805 | 3,572 | 917 | 905 | 898 | 2,720 | |||||||||||
EBITDA in other countries | 145 | 223 | 172 | 181 | 721 | 156 | 282 | 196 | 634 | |||||||||||
Total EBITDA | 1,081 | 1,146 | 1,080 | 986 | 4,293 | 1,073 | 1,187 | 1,094 | 3,354 | |||||||||||
Capital expenditure in Switzerland | 425 | 451 | 416 | 482 | 1,774 | 362 | 366 | 369 | 1,097 | |||||||||||
Capital expenditure in other countries | 171 | 146 | 159 | 166 | 642 | 167 | 162 | 161 | 490 | |||||||||||
Total capital expenditure | 596 | 597 | 575 | 648 | 2,416 | 529 | 528 | 530 | 1,587 | |||||||||||
Full-time equivalent employees in Switzerland | 18,960 | 18,754 | 18,551 | 18,372 | 18,372 | 18,280 | 17,974 | 17,877 | 17,877 | |||||||||||
Full-time equivalent employees in other countries | 2,685 | 2,689 | 2,741 | 2,755 | 2,755 | 2,799 | 2,801 | 2,827 | 2,827 | |||||||||||
Total full-time equivalent employees | 21,645 | 21,443 | 21,292 | 21,127 | 21,127 | 21,079 | 20,775 | 20,704 | 20,704 | |||||||||||
1 In 2016, adjustment of not activated TV access lines: 1 quarter –44 k., 2 quarter –49 k., 3 quarter –63 k., 4 quarter –58 k.
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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.