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In CHF million, except where indicated       31.3.2018   31.3.2017   Change
                 
Revenue and results
Net revenue 1       2,885   2,831   1.9%
Operating income before depreciation and amortisation (EBITDA) 1, 2       1,058   1,073   –1.4%
EBITDA as % of net revenue   %   36.7   37.9    
Operating income (EBIT) 3       518   550   –5.8%
Net income       379   373   1.6%
Earnings per share   CHF   7.36   7.20   2.2%
     
Balance sheet and cash flows
Equity at end of period       8,410   6,897   21.9%
Equity ratio at end of period 4   %   36.8   31.8    
Operating free cash flow 5       359   463   –22.5%
Capital expenditure in property, plant and equipment and intangible assets       501   529   –5.3%
Net debt at end of period 6       7,294   7,689   –5.1%
     
Operational data at end of period
Fixed telephony access lines in Switzerland   in thousand   1,977   2,297   –13.9%
Broadband access lines retail in Switzerland   in thousand   2,025   1,988   1.9%
Swisscom TV access lines in Switzerland   in thousand   1,492   1,438   3.8%
Mobile access lines in Switzerland   in thousand   6,632   6,601   0.5%
Revenue generating units (RGU) in Switzerland 7   in thousand   12,126   12,324   –1.6%
Unbundled fixed access lines in Switzerland   in thousand   100   120   –16.7%
Broadband access lines wholesale in Switzerland   in thousand   449   385   16.6%
Broadband access lines in Italy   in thousand   2,483   2,400   3.5%
Mobile acces lines in Italy   in thousand   1,185   763   55.3%
       
Swisscom share
Number of shares issued at end of period   in thousand   51,802   51,802  
Market capitalisation at end of period 8       24,533   23,938   2.5%
Closing price at end of period   CHF   473.60   462.10   2.5%
                 
Employees
Full-time equivalent employees at end of period   number   20,326   21,079   –3.6%
Average number of full-time equivalent employees   number   20,435   21,069   –3.0%
1 Since 1 January 2018, Swisscom has applied IFRS 15 “Revenue from Contracts with Customers”. The prior year’s figures have not been adjusted. Without the application of IFRS 15, net revenue would have been CHF 4 million higher and EBITDA would have been CHF 20 million higher in the first quarter of 2018.
2 Definition operating income before depreciation and amortization (EBITDA): operating income before depreciation and amortization, gain on sale of subsidiaries, net financial result, share of results of equity-accounted investees and income tax expense.
3 Definition operating income (EBIT): operating income before gain on sale of subsidiaries, net financial result, share of results of equity-accounted investees and income tax expense.
4 Equity as a percentage of total assets.
5 Definition operating free cash flow: operating income before depreciation and amortisation (EBITDA), change in operating assets and liabilities (excluding cash and cash equivalents) less net capital expenditure in tangible and intangible assets and dividends paid to non-controlling interests.
6 Definition net debt: financial liabilities less cash and cash equivalents, current financial assets as well as non-current fixed interest-bearing certificates of deposit and derivative financial instruments for financing received.
7 Definition revenue generating units (RGU) in Switzerland: fixed telephony access lines, broadband access lines retail, Swisscom TV access lines and mobile access lines.
8 Closing price at end of period, multiplied by number of shares outstanding at end of period.