Menu

1st Interim Report 2020
1st Interim Report 2020
Open report

Language

Leave

Report switcher allows selecting another report from a different reporting period

1st Interim Report 2020
  • 1st Interim Report 2025
  • Sustainability Impact Report 2024
  • Annual Report 2024
  • 3rd Interim Report 2024
  • 2nd Interim Report 2024
  • 1st Interim Report 2024
  • Annual Report 2023
  • 3rd Interim Report 2023
  • 2nd Interim Report 2023
  • 1st Interim Report 2023
  • Annual Report 2022
  • 3rd Interim Report 2022
  • 2nd Interim Report 2022
  • 1st Interim Report 2022
  • Annual Report 2021
  • 3rd Interim Report 2021
  • 2nd Interim Report 2021
  • 1st Interim Report 2021
  • Annual Report 2020
  • 3rd Interim Report 2020
  • 2nd Interim Report 2020
  • 1st Interim Report 2020
  • Annual Report 2019
  • 3rd Interim Report 2019
  • 2nd Interim Report 2019
  • 1st Interim Report 2019
  • Index
  • Search

Table of contents for the 1st Interim Report 2020 report

1st Interim Report 2020
KPIsFinancial review
SummarySegment resultsDepreciation and amortisation, non operating resultsCash flowsNet asset positionOutlook
Consolidated interim financial statements
Consolidated statement of comprehensive income (unaudited)Consolidated balance sheet (unaudited)Consolidated statement of cash flows (unaudited)Consolidated statement of changes in equity (unaudited)
Notes to the interim financial statements
About this report1 Changes in accounting principles2 Segment information3 Operating costs4 Dividends5 Financial liabilities6 Financial result7 Operating net working capital8 Provisions and contingent liabilities
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2019 and 2020Forward looking statements
We found 0 search results

No search results. Please enter a different search term.

Cash flows

In CHF million   31.03.2020   31.03.2019   Change
Operating income before depreciation and amortisation (EBITDA)   1,111   1,119   (8)
Lease expense   (75)   (68)   (7)
EBITDA after lease expense (EBITDA AL)   1,036   1,051   (15)
Capital expenditure   (516)   (518)   2
Operating free cash flow proxy   520   533   (13)
Change in net working capital   (205)   (41)   (164)
Change in defined benefit obligations   14   12   2
Net interest payments on financial assets and liabilities   (5)   (3)   (2)
Income taxes paid   (119)   (242)   123
Other operating cash flows   (16)   (15)   (1)
Free cash flow   189   244   (55)
Net expenditures for company acquisitions and disposals   (8)   (246)   238
Other cash flows from investing activities, net   1   14   (13)
Issuance of financial liabilities   1,574   222   1,352
Repayment of financial liabilities   (562)   (310)   (252)
Other cash flows from financing activities   (33)   (6)   (27)
Net increase (net decrease) in cash and cash equivalents   1,161   (82)   1,243

Operating free cash flow proxy declined by CHF 13 million to CHF 520 million, owing mainly to lower EBITDA after lease expense (EBITDA AL). At CHF 516 million, capital expenditure was practically unchanged from the previous year’s level.

Free cash flow declined year-on-year by CHF 55 million to CHF 189 million. The decrease was mainly attributable to the change in net working capital. Net working capital grew by CHF 205 million compared with the end of 2019 (prior year: increase of CHF 41 million). Deferred income tax payments partially offset this effect.

In the first quarter of 2020, Swisscom took on short-term bank loans from unconfirmed credit lines to secure liquidity. Swisscom also has two confirmed lines of credit totalling CHF 2.0 bil­lion, which had not been used as at 31 March 2020. Net expenditure for company acquisitions and disposals in the previous year includes the purchase price of CHF 240 million paid to Tamedia for the acquisition of the outstanding share of 31% in Swisscom Directories Ltd.