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Annual Report 2020
Annual Report 2020
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Con­sol­i­dated statement of com­pre­hen­sive income

In CHF million, except for per share amounts   Note   2020   2019
             
Income statement
Net revenue   1.1    11,100   11,453
Direct costs   1.2    (2,669)   (2,815)
Personnel expense   1.2, 4.1    (2,717)   (2,800)
Other operating expense   1.2    (1,798)   (1,989)
Capitalised self-constructed assets and other income   1.2    466   509
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion       4,382   4,358
De­pre­ci­a­tion and amor­ti­sa­tion of property, plant and equipment and intangible assets   3.2, 3.3    (2,149)   (2,166)
De­pre­ci­a­tion of right-of-use assets   2.3    (286)   (282)
Operating income       1,947   1,910
Financial income   2.4    41   33
Financial expense   2.4    (193)   (191)
Result of equity-accounted investees   5.3    4   (28)
Income before income taxes       1,799   1,724
Income tax expense   6.1    (271)   (55)
Net income       1,528   1,669
     
             
Other com­pre­hen­sive income
Actuarial gains and losses from defined benefit pension plans   2.1    261   146
Change in fair value of equity instruments   2.1    (9)   2
Items that will not be reclassified to income statement       252   148
Foreign currency translation adjustments of foreign sub­sidiaries   2.1    (5)   (55)
Change in cash flow hedges   2.1    (3)   7
Other com­pre­hen­sive income from equity-accounted investees   2.1    (5)   2
Items that may be reclassified to income statement       (13)   (46)
Other com­pre­hen­sive income       239   102
     
             
Com­pre­hen­sive income
Net income       1,528   1,669
Other com­pre­hen­sive income       239   102
Com­pre­hen­sive income       1,767   1,771
     
             
Share of net income and com­pre­hen­sive income
Equity holders of Swisscom Ltd       1,530   1,672
Non-controlling interests       (2)   (3)
Net income       1,528   1,669
             
Equity holders of Swisscom Ltd       1,769   1,774
Non-controlling interests       (2)   (3)
Com­pre­hen­sive income       1,767   1,771
     
             
Earnings per share
Basic and diluted earnings per share (in CHF)   2.1    29.54   32.28