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Financial outlook


In CHF million, except where indicated
  2020
reported
  Change Swisscom
without Fastweb
  Change
Fastweb
  2021
outlook 1
                 
Net revenue
Swisscom Group   11,100   < 0   > 0   ~ CHF 11.1 bn
Swisscom w/o Fastweb               ~ CHF 8.5 bn
Fastweb               ~ EUR 2.4 bn
                 
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)
Swisscom Group   4,382   < 0   > 0   ~ CHF 4.3 bn 2
Swisscom w/o Fastweb               ~ CHF 3.4 bn
Fastweb               ~ EUR 0.8 bn
                 
Capital ex­pen­di­ture
Swisscom Group   2,229   > 0   0   ~ CHF 2.3 bn
Swisscom w/o Fastweb               > CHF 1.6 bn
Fastweb               ~ EUR 0.6 bn
1 Exchange rate CHF/EUR 1.07 (2020: CHF/EUR 1.07).
2 2021 outlook for EBITDA after lease expense ~ CHF 4.0 bil­lion

For 2021, Swisscom expects net revenue of around CHF 11.1 bil­lion, EBITDA of around CHF 4.3 bil­lion and capital ex­pen­di­ture of around CHF 2.3 bil­lion. Due to strong competition and price pressure, Swisscom expects revenue to be lower excluding Fastweb. Fastweb’s revenue is expected to increase slightly from 2020. For Swisscom excluding Fastweb, it will not be possible to fully make up for the decline in revenue through cost savings. In contrast, an increase in EBITDA is anticipated for Fastweb. Capital ex­pen­di­ture in Switzer­land will be slightly higher than in 2020. In the case of Fastweb, the capital ex­pen­di­ture is expected to be at the level of 2020. Subject to achieving its targets, Swisscom will propose payment of an unchanged, attractive dividend of CHF 22 per share for the 2021 financial year at the 2022 Annual General Meeting.