Depreciation and amortisation, non-operating results
In CHF million, except where indicated | 2021 | 2020 | Change | |||
---|---|---|---|---|---|---|
In CHF million, except where indicatedOperating income before depreciation and amortisation (EBITDA) | 20214,478 | 20204,382 | Change2.2% | |||
In CHF million, except where indicatedDepreciation and amortisation of property, plant and equipment and intangible assets | 2021(2,131) | 2020(2,149) | Change–0.8% | |||
In CHF million, except where indicatedDepreciation of right-of-use assets | 2021(281) | 2020(286) | Change–1.7% | |||
In CHF million, except where indicatedOperating income (EBIT) | 20212,066 | 20201,947 | Change6.1% | |||
In CHF million, except where indicatedNet interest expense on financial assets and liabilities | 2021(60) | 2020(69) | Change–13.0% | |||
In CHF million, except where indicatedInterest expense on lease liabilities | 2021(44) | 2020(45) | Change–2.2% | |||
In CHF million, except where indicatedOther financial result | 2021200 | 2020(38) | Change | |||
In CHF million, except where indicatedResult of equity-accounted investees | 2021(10) | 20204 | Change | |||
In CHF million, except where indicatedIncome before income taxes | 20212,152 | 20201,799 | Change19.6% | |||
In CHF million, except where indicatedIncome tax expense | 2021(319) | 2020(271) | Change17.7% | |||
In CHF million, except where indicatedNet income | 20211,833 | 20201,528 | Change20.0% | |||
In CHF million, except where indicatedAttributable to equity holders of Swisscom Ltd | 20211,832 | 20201,530 | Change19.7% | |||
In CHF million, except where indicatedAttributable to non-controlling interests | 20211 | 2020(2) | Change | |||
In CHF million, except where indicated | 2021 | 2020 | Change | |||
In CHF million, except where indicatedEarnings per share (in CHF) | 202135.37 | 202029.54 | Change19.7% |
Swisscom’s net income rose by CHF 305 million or 20.0% to CHF 1,833 million, largely due to non-recurring items in the financial result and the higher EBITDA. Earnings per share rose accordingly from CHF 29.54 to CHF 35.37. Income before income taxes rose by 19.6%. The depreciation and amortisation of property, plant and equipment and intangible assets decreased by CHF 18 million or 0.8% year-on-year to CHF 2,131 million; these went down at Swisscom Switzerland and up at Fastweb. The non-recurring items in the financial result originate from the first quarter of 2021. As part of its strategic partnership with TIM, Fastweb transferred its stake in FlashFiber as a capital contribution to the newly established fibre-optic company FiberCop. This resulted in an upward revaluation of the participation recognised in the income statement of CHF 169 million. In addition, Swisscom realised a gain of CHF 38 million on the sale of its investment in Belgacom International Carrier Services. Income tax expense stood at CHF 319 million (prior year: CHF 271 million), which corresponds to an effective income tax rate of 14.8% (prior year: 15.1%).