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2nd Interim Report 2018
2nd Interim Report 2018
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2nd Interim Report 2018
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Quarterly review 2017 and 2018


In CHF million, except where indicated		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2017		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2018
                                         
Income statement
Net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920           5,805
Direct costs   (606)   (607)   (698)   (810)   (2,721)   (704)   (692)           (1,396)
Personnel expense   (753)   (738)   (695)   (816)   (3,002)   (723)   (714)           (1,437)
Other operating expense   (490)   (517)   (513)   (632)   (2,152)   (503)   (540)           (1,043)
Capitalised self-constructed assets and other income   91   190   86   141   508   103   111           214
Operating income (EBITDA)   1,073   1,187   1,094   941   4,295   1,058   1,085           2,143
Depreciation and amortisation   (523)   (534)   (531)   (576)   (2,164)   (540)   (540)           (1,080)
Operating income (EBIT)   550   653   563   365   2,131   518   545           1,063
Net interest expense   (36)   (37)   (36)   (40)   (149)   (35)   (35)           (70)
Other financial result   (13)   (12)   16   (2)   (11)   (6)   6           –
Result of associates   (1)   (2)   (3)   (5)   (11)   (2)   2           –
Income before income taxes   500   602   540   318   1,960   475   518           993
Income tax expense   (127)   (136)   (110)   (19)   (392)   (96)   (110)           (206)
Net income   373   466   430   299   1,568   379   408           787
Attributable to equity holders of Swisscom Ltd   373   467   430   300   1,570   381   409           790
Share attributable to non-controlling interests   –   (1)   –   (1)   (2)   (2)   (1)           (3)
                                         
Earnings per share (in CHF)   7.20   9.02   8.30   5.79   30.31   7.36   7.90           15.25
                                       
                                         
Net revenue
Swisscom Switzerland   2,246   2,241   2,250   2,321   9,058   2,206   2,194           4,400
Fastweb   484   511   556   613   2,164   574   606           1,180
Other Operating segments   187   210   215   238   850   197   228           425
Group Headquarters   –   1   1   (1)   1   –   1           1
Intersegment elimination   (86)   (104)   (108)   (113)   (411)   (92)   (109)           (201)
Total net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920           5,805
         
                                         
Segment result before depreciation and amortisation (EBITDA)
Swisscom Switzerland   928   924   909   739   3,500   892   894           1,786
Fastweb   155   279   194   217   845   167   195           362
Other Operating segments   40   40   49   51   180   39   47           86
Group Headquarters   (26)   (21)   (24)   (40)   (111)   (22)   (31)           (53)
Reconciliation to pension cost   (20)   (27)   (28)   (17)   (92)   (15)   (14)           (29)
Intersegment elimination   (4)   (8)   (6)   (9)   (27)   (3)   (6)           (9)
Total segment result (EBITDA)   1,073   1,187   1,094   941   4,295   1,058   1,085           2,143
         
                                         
Capital expenditure in property, plant and equipment and intangible assets
Swisscom Switzerland   357   362   364   571   1,654   311   400           711
Fastweb   165   161   158   208   692   185   162           347
Other Operating segments   11   13   15   19   58   8   11           19
Intersegment elimination   (4)   (8)   (7)   (7)   (26)   (3)   (5)           (8)
Total capital expenditure   529   528   530   791   2,378   501   568           1,069
         
                                         
Full-time equivalent employees at end of period
Swisscom Switzerland   15,719   15,420   15,307   15,157   15,157   15,031   14,587           14,587
Fastweb   2,503   2,494   2,509   2,504   2,504   2,510   2,483           2,483
Other Operating segments   2,575   2,585   2,617   2,580   2,580   2,523   2,563           2,563
Group Headquarters   282   276   271   265   265   262   262           262
Total full-time equivalent employees   21,079   20,775   20,704   20,506   20,506   20,326   19,895           19,895
                                         
Operating free cash flow   463   549   660   487   2,159   359   392           751
Net debt   7,689   8,441   7,868   7,447   7,447   7,294   8,146           8,146

In CHF million, except where indicated		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2017		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2018
                                         
Swisscom Switzerland Revenue and results
Retail Customers   673   677   688   664   2,702   655   659           1,314
Enterprise Customers   121   122   122   119   484   113   118           231
Revenue mobile   794   799   810   783   3,186   768   777           1,545
Retail Customers   680   667   654   661   2,662   643   645           1,288
Enterprise Customers   142   140   136   137   555   131   134           265
Revenue fixed-line   822   807   790   798   3,217   774   779           1,553
Other revenue Enterprise Customers   16   15   15   15   61   16   15           31
Total revenue telecoms services   1,632   1,621   1,615   1,596   6,464   1,558   1,571           3,129
Solution business   261   271   264   288   1,084   268   252           520
Merchandise   147   145   142   214   648   170   163           333
Wholesale   138   135   157   148   578   141   145           286
Other revenue   49   50   49   55   203   49   43           92
Revenue from external customers   2,227   2,222   2,227   2,301   8,977   2,186   2,174           4,360
                                         
Retail Customers   1,497   1,481   1,478   1,515   5,971   1,456   1,448           2,904
Enterprise Customers   586   599   586   631   2,402   584   576           1,160
Wholesale   138   135   157   148   578   141   145           286
IT, Network & Infrastructure   6   7   6   7   26   5   5           10
Revenue from external customers   2,227   2,222   2,227   2,301   8,977   2,186   2,174           4,360
         
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Retail Customers   923   903   863   793   3,482   880   860           1,740
Enterprise Customers   199   212   212   199   822   194   192           386
Wholesale   104   103   123   116   446   109   114           223
IT, Network & Infrastructure   (298)   (294)   (288)   (370)   (1,250)   (290)   (273)           (563)
Intersegment elimination   –   –   (1)   1   –   (1)   1           –
Segment result (EBITDA)   928   924   909   739   3,500   892   894           1,786
Margin as % of net revenue   41.3   41.2   40.4   31.8   38.6   40.4   40.7           40.6
         
                                         
Fastweb, in EUR million
Residential Customers   232   238   253   263   986   257   264           521
Corporate Business   168   173   177   192   710   180   188           368
Wholesale   51   57   58   74   240   53   66           119
Revenue from external customers   451   468   488   529   1,936   490   518           1,008
Segment result (EBITDA)   145   258   170   186   759   144   166           310
Margin as % of net revenue   32.0   54.9   34.6   35.1   39.0   29.3   32.0           30.7
                                         
Capital expenditure in property, plant and equipment and intangible assets   155   147   139   181   622   159   138           297
Broadband access lines in thousand   2,400   2,411   2,421   2,451   2,451   2,483   2,500           2,500
Mobile access lines in thousand   763   880   989   1,065   1,065   1,185   1,280           1,280

In CHF million, except where indicated		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2017		   1.
quarter		   2.
quarter		   3.
quarter		   4.
quarter		  
2018
                                         
Swisscom Switzerland Operational data in thousand
Access lines
Retail Customers   2,063   1,982   1,911   1,840   1,840   1,779   1,730           1,730
Enterprise Customers   234   226   217   207   207   198   176           176
Fixed telephony access lines   2,297   2,208   2,128   2,047   2,047   1,977   1,906           1,906
                                         
Retail Customers   1,950   1,951   1,962   1,976   1,976   1,988   1,991           1,991
Enterprise Customers   38   38   38   38   38   37   37           37
Broadband access lines retail   1,988   1,989   2,000   2,014   2,014   2,025   2,028           2,028
                                         
Retail Customers   1,438   1,447   1,453   1,467   1,467   1,492   1,501           1,501
Swisscom TV access lines   1,438   1,447   1,453   1,467   1,467   1,492   1,501           1,501
                                         
Postpaid Retail Customers   3,306   3,315   3,334   3,375   3,375   3,381   3,379           3,379
Postpaid Enterprise Customers   1,256   1,260   1,268   1,267   1,267   1,265   1,270           1,270
Postpaid mobile acces lines   4,562   4,575   4,602   4,642   4,642   4,646   4,649           4,649
Prepaid Retail Customers   2,039   2,018   1,980   1,995   1,995   1,986   1,966           1,966
Mobile access lines   6,601   6,593   6,582   6,637   6,637   6,632   6,615           6,615
                                         
RGU Retail Customers   10,796   10,713   10,640   10,653   10,653   10,626   10,567           10,567
RGU Enterprise Customers   1,528   1,524   1,523   1,512   1,512   1,500   1,483           1,483
Revenue generating units (RGU)   12,324   12,237   12,163   12,165   12,165   12,126   12,050           12,050
                                         
Broadband access lines wholesale   385   402   419   435   435   449   462           462
Unbundled fixed access lines   120   116   114   107   107   100   95           95
                                         
Swisscom Group Information by geographical regions
Net revenue in Switzerland   2,343   2,343   2,352   2,438   9,476   2,308   2,310           4,618
Net revenue in other countries   488   516   562   620   2,186   577   610           1,187
Total net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920           5,805
                                         
EBITDA in Switzerland   917   905   898   731   3,451   889   891           1,780
EBITDA in other countries   156   282   196   210   844   169   194           363
Total EBITDA   1,073   1,187   1,094   941   4,295   1,058   1,085           2,143
                                         
Capital expenditure in Switzerland   362   366   369   581   1,678   315   406           721
Capital expenditure in other countries   167   162   161   210   700   186   162           348
Total capital expenditure   529   528   530   791   2,378   501   568           1,069
                                         
Full-time equivalent employees in Switzerland   18,280   17,974   17,877   17,688   17,688   17,611   17,203           17,203
Full-time equivalent employees in other countries   2,799   2,801   2,827   2,818   2,818   2,715   2,692           2,692
Total full-time equivalent employees (count)   21,079   20,775   20,704   20,506   20,506   20,326   19,895           19,895