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2nd Interim Report 2018
2nd Interim Report 2018
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KPIs


In CHF million, except where indicated		    
   1st half-year
2018		   1st half-year
2017		  
Change
                 
Revenue and results
Net revenue 1       5,805   5,690   2.0%
Operating income before depreciation and amortisation (EBITDA) 1, 2       2,143   2,260   –5.2%
EBITDA as % of net revenue   %   36.9   39.7    
Operating income (EBIT) 3       1,063   1,203   –11.6%
Net income       787   839   –6.2%
Earnings per share   CHF   15.25   16.22   –6.0%
     
Balance sheet and cash flows
Equity at end of period       7,685   6,531   17.7%
Equity ratio at end of period 4   %   34.4   30.3    
Operating free cash flow 5       751   1,012   –25.8%
Capital expenditure in property, plant and equipment and intangible assets       1,069   1,057   1.1%
Net debt at end of period 6       8,146   8,441   –3.5%
     
Operational data at end of period
Fixed telephony access lines in Switzerland   in thousand   1,906   2,208   –13.7%
Broadband access lines retail in Switzerland   in thousand   2,028   1,989   2.0%
Swisscom TV access lines in Switzerland   in thousand   1,501   1,447   3.7%
Mobile access lines in Switzerland   in thousand   6,615   6,593   0.3%
Revenue generating units (RGU) in Switzerland 7   in thousand   12,050   12,237   –1.5%
Unbundled fixed access lines in Switzerland   in thousand   95   116   –18.1%
Broadband access lines wholesale in Switzerland   in thousand   462   402   14.9%
Broadband access lines in Italy   in thousand   2,500   2,411   3.7%
Mobile acces lines in Italy   in thousand   1,280   880   45.5%
       
Swisscom share
Number of shares issued at end of period   in thousand   51,802   51,802   –
Market capitalisation at end of period 8       22,959   23,969   –4.2%
Closing price at end of period   CHF   443.20   462.70   –4.2%
                 
Employees
Full-time equivalent employees at end of period   number   19,895   20,775   –4.2%
Average number of full-time equivalent employees   number   20,284   21,005   –3.4%
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 2 million higher and EBITDA would have been CHF 33 million higher in the first half year 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.