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Segment results

In CHF million, except where indicated   2019   2018   Change
Net revenue
Residential Cus­tomers   5,691   5,924   –3.9%
Enterprise Cus­tomers   2,312   2,408   –4.0%
Wholesale 1   968   894   8.3%
IT, Net­work & In­fra­struc­ture   85   79   7.6%
Intersegment elimination   (493)   (499)   –1.2%
Swisscom Switzer­land   8,563   8,806   –2.8%
Fastweb   2,468   2,426   1.7%
Other Operating Segments   929   909   2.2%
Group Headquarters   1   2   –50.0%
Intersegment elimination   (508)   (429)   18.4%
Revenue from external cus­tomers   11,453   11,714   –2.2%
             
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)
Residential Cus­tomers   3,415   3,463   –1.4%
Enterprise Cus­tomers   705   804   –12.3%
Wholesale   525   447   17.4%
IT, Net­work & In­fra­struc­ture   (1,154)   (1,138)   1.4%
Swisscom Switzer­land   3,491   3,576   –2.4%
Fastweb   834   803   3.9%
Other Operating Segments   188   197   –4.6%
Group Headquarters   (72)   (76)   –5.3%
Rec­on­cil­i­a­tion pension cost 2   (47)   (60)   –21.7%
Rec­on­cil­i­a­tion lease expense (IAS 17) 3     (207)   –100.0%
Intersegment elimination   (36)   (20)   80.0%
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)   4,358   4,213   3.4%
1 Incl. intersegment recharges of services performed by other network providers.
2 Operating income of segments includes ordinary employer con­tri­bu­tions as pension fund expense. The difference to the pension cost according to IAS 19 is recog­nised as a rec­on­cil­i­a­tion item.
3 Swisscom has been applying IFRS 16 "Leases" since 1 January 2019. The operating result before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA) of the segments for 2018 does not include any expenses for operating leases in accordance with IAS 17. The 2018 expense for operating leases in accordance with IAS 17 is shown as a rec­on­cil­i­a­tion item.

Swisscom’s reporting focuses on the three operating divisions Swisscom Switzer­land, Fastweb and Other Operating Segments. Group Headquarters, which includes non-allocated costs, is reported separately. Swisscom Switzer­land comprises the customer segments Residential Cus­tomers, Enterprise Cus­tomers and Wholesale, as well as the IT, Net­work & In­fra­struc­ture division. Fastweb is a telecom­mu­ni­ca­tions provider for residential and business cus­tomers in Italy. Other Operating Segments primarily comprises the Digital Business division, Swisscom Broadcast Ltd (radio transmitters) and cablex Ltd (network con­struc­tion and main­te­nance).

The IT, Net­work & In­fra­struc­ture segment does not charge any network costs to other segments, nor does Group Headquarters charge any management fees to other segments. The remaining services between the segments are recharged at market prices. Net­work costs in Switzer­land are budgeted, mon­i­tored and controlled by the IT, Net­work & In­fra­struc­ture division, which is managed as a cost centre. For this reason, no revenue is credited to the IT, Net­work & In­fra­struc­ture segment within the segment reporting, with the exception of the rental and administration of buildings and vehicles. The results of the segments “Residential Cus­tomers”, “Enterprise Cus­tomers” and “Wholesale” correspond to a contribution margin prior to network costs.