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In CHF million   Note   2021   2020
Net income       1,833   1,528
Income tax expense   6.1    319   271
Result of equity-accounted investees   5.3    10   (4)
Financial income   2.4    (269)   (41)
Financial expense   2.4    173   193
De­pre­ci­a­tion and amor­ti­sa­tion of property, plant and equipment and intangible assets   3.2, 3.3    2,131   2,149
De­pre­ci­a­tion of right-of-use assets   2.3    281   286
Gain on sale of property, plant and equipment   1.2    (10)   (10)
Expense for share-based payments       1   1
Revenue from finance leases       (120)   (101)
Proceeds from finance leases       112   100
Change in deferred gain from the sale and leaseback of real estate   2.3    (11)   (16)
Change in operating assets and liabilities   3.1    65   178
Change in provisions   3.5    (73)   (22)
Change in defined benefit obligations   4.3    (9)   65
Interest received       14   24
Dividends received   5.3    1   15
Interest payments on financial liabilities   2.2    (81)   (93)
Interest payments on lease liabilities   2.3    (44)   (45)
Income taxes paid   6.1    (279)   (309)
Cash flow from operating activities       4,044   4,169
Purchase of property, plant and equipment and intangible assets   3.2, 3.3    (2,270)   (2,188)
Proceeds from sale of property, plant and equipment and intangible assets       17   16
Acquisition of sub­sidiaries, net of cash and cash equivalents acquired   5.2    (42)   (39)
Proceeds from sale of sub­sidiaries, net of cash and cash equivalents sold   5.2    1  
Acquisition of equity-accounted investees   5.2    (3)   (15)
Proceeds from sale of equity-accounted investees   5.2    149  
Purchase of other financial assets       (73)   (121)
Proceeds from other financial assets       120   20
Other cash flows from investing activities       (19)   (4)
Cash flow used in investing activities       (2,120)   (2,331)
Issuance of financial liabilities   2.2    350   732
Repayment of financial liabilities   2.2    (792)   (1,110)
Repayment of lease liabilities   2.3    (259)   (287)
Dividends paid to equity holders of Swisscom Ltd   2.1    (1,140)   (1,140)
Dividends paid to non-controlling interests       (1)   (1)
Acquisition of non-controlling interests         (1)
Other cash flows from financing activities       (14)   (17)
Cash flow used in financing activities       (1,856)   (1,824)
Net increase in cash and cash equivalents       68   14
Cash and cash equivalents at 1 January       340   328
Foreign currency translation adjustments in respect of cash and cash equivalents       (7)   (2)
Cash and cash equivalents at 31 December       401   340