Due to strong competition and price pressure and the ongoing decline in the number of fixed-line telephone connections, Swisscom expects revenue to be lower without Fastweb. As a result of Covid-19 slightly lower revenue is also expected due to the smaller roaming volume. Fastweb’s revenue is expected to increase slightly from 2019. For Swisscom without Fastweb, the decline in revenue cannot be fully offset by cost savings; EBITDA is expected to decline on an adjusted basis. In contrast, an increase in EBITDA is anticipated for Fastweb. Capital expenditure in Switzerland, excluding costs for acquiring additional mobile radio frequencies at auction, will be slightly less than in the previous year. Capital expenditure at Fastweb is expected to be lower.