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Quarterly review 2020 and 2021


In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2020
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
                                         
Income statement
Net revenue   2,737   2,706   2,758   2,899   11,100   2,803   2,780   2,760       8,343
Direct costs   (626)   (624)   (656)   (763)   (2,669)   (680)   (670)   (681)       (2,031)
Personnel expense   (700)   (679)   (637)   (701)   (2,717)   (716)   (611)   (636)       (1,963)
Other operating expense   (407)   (416)   (441)   (534)   (1,798)   (422)   (444)   (463)       (1,329)
Capitalised self-constructed assets and other income   107   110   124   125   466   139   138   168       445
Operating income (EBITDA)   1,111   1,097   1,148   1,026   4,382   1,124   1,193   1,148       3,465
Depreciation and amortisation   (537)   (541)   (538)   (533)   (2,149)   (538)   (549)   (527)       (1,614)
Depreciation of right-of-use assets   (70)   (77)   (70)   (69)   (286)   (70)   (71)   (70)       (211)
Operating income (EBIT)   504   479   540   424   1,947   516   573   551       1,640
Net interest expense on financial assets and liabilities   (12)   (18)   (20)   (19)   (69)   (17)   (16)   (13)       (46)
Interest expense on lease liabilities   (11)   (11)   (12)   (11)   (45)   (11)   (11)   (11)       (33)
Other financial result   (14)   (38)   23   (9)   (38)   252   (35)         217
Equity-accounted investees   1   2   1     4     (4)   (1)       (5)
Income before income taxes   468   414   532   385   1,799   740   507   526       1,773
Income tax expense   (74)   (72)   (102)   (23)   (271)   (102)   (99)   (36)       (237)
Net income   394   342   430   362   1,528   638   408   490       1,536
Attributable to equity holders of Swisscom Ltd   395   343   431   361   1,530   638   407   490       1,535
Attributable to non-controlling interests   (1)   (1)   (1)   1   (2)     1         1
                                         
Earnings per share (in CHF)   7.63   6.62   8.32   6.97   29.54   12.32   7.86   9.46       29.63
                                       
                                         
Net revenue
Swisscom Switzerland   2,065   2,019   2,046   2,120   8,250   2,080   2,023   2,047       6,150
Fastweb   580   599   613   678   2,470   634   659   621       1,914
Other Operating Segments   241   246   268   259   1,014   240   265   265       770
Intersegment elimination   (149)   (158)   (169)   (158)   (634)   (151)   (167)   (173)       (491)
Total net revenue   2,737   2,706   2,758   2,899   11,100   2,803   2,780   2,760       8,343
         
                                         
Operating income before depreciation and amortisation (EBITDA)
Swisscom Switzerland   909   872   898   787   3,466   916   881   879       2,676
Fastweb   181   208   219   232   840   195   225   236       656
Other Operating Segments   42   40   56   46   184   34   49   53       136
Reconciliation pension cost   (15)   (16)   (16)   (18)   (65)   (13)   49   (11)       25
Elimination   (6)   (7)   (9)   (21)   (43)   (8)   (11)   (9)       (28)
Total EBITDA   1,111   1,097   1,148   1,026   4,382   1,124   1,193   1,148       3,465
         
                                         
Capital expenditure
Swisscom Switzerland   367   409   410   413   1,599   371   382   372       1,125
Fastweb   148   146   145   190   629   168   162   149       479
Other Operating Segments   7   11   12   14   44   9   10   10       29
Intersegment elimination   (6)   (7)   (10)   (20)   (43)   (8)   (11)   (9)       (28)
Total capital expenditure   516   559   557   597   2,229   540   543   522       1,605

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2020
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
                                         
Operating free cash flow proxy
Operating income (EBITDA)   1,111   1,097   1,148   1,026   4,382   1,124   1,193   1,148       3,465
Lease expense   (75)   (75)   (76)   (74)   (300)   (75)   (76)   (75)       (226)
EBITDA after lease expense (EBITDA AL)   1,036   1,022   1,072   952   4,082   1,049   1,117   1,073       3,239
Capital expenditure   (516)   (559)   (557)   (597)   (2,229)   (540)   (543)   (522)       (1,605)
Operating free cash flow proxy   520   463   515   355   1,853   509   574   551       1,634
                                         
Net debt
Net debt   6,552   7,171   6,625   6,218   6,218   5,849   6,626   6,040       6,040
Net debt incl. lease liabilities.   8,528   9,129   8,622   8,206   8,206   7,825   8,569   7,999       7,999
                                         
Full-time equivalent employees
Swisscom Switzerland   13,056   12,857   12,876   12,845   12,845   12,830   12,867   12,963       12,963
Fastweb   2,515   2,605   2,634   2,703   2,703   2,733   2,750   2,741       2,741
Other Operating Segments   3,539   3,522   3,516   3,514   3,514   3,514   3,493   3,468       3,468
Total personnel expense   19,110   18,984   19,026   19,062   19,062   19,077   19,110   19,172       19,172
Information by geographical regions
Net revenue in Switzerland   2,155   2,106   2,140   2,213   8,614   2,164   2,115   2,134       6,413
Net revenue in other countries   582   600   618   686   2,486   639   665   626       1,930
Total net revenue   2,737   2,706   2,758   2,899   11,100   2,803   2,780   2,760       8,343
                                         
EBITDA Switzerland   924   890   922   786   3,522   927   962   907       2,796
EBITDA other countries   187   207   226   240   860   197   231   241       669
Total EBITDA   1,111   1,097   1,148   1,026   4,382   1,124   1,193   1,148       3,465
                                         
Capital expenditure in Switzerland   367   412   412   405   1,596   371   381   372       1,124
Capital expenditure in other countries   149   147   145   192   633   169   162   150       481
Total capital expenditure   516   559   557   597   2,229   540   543   522       1,605
                                         
Headcount in Switzerland   16,357   16,119   16,119   16,048   16,048   15,975   15,964   16,006       16,006
Headcount in other countries   2,753   2,865   2,907   3,014   3,014   3,102   3,146   3,166       3,166
Total headcount (ful-time equivalent)   19,110   18,984   19,026   19,062   19,062   19,077   19,110   19,172       19,172
                                         
Fastweb, in EUR million
Residential customers   280   282   282   289   1,133   286   288   282       856
Corporate customers   211   224   226   246   907   237   244   231       712
Wholesale   50   55   59   93   257   56   66   60       182
Revenue from external customers   541   561   567   628   2,297   579   598   573       1,750
Segment result (EBITDA)   170   195   203   216   784   179   205   218       602
Margin as % of net revenue   31.3   34.7   35.7   34.3   34.0   30.8   34.2   38.0       34.3
Lease expense   (13)   (13)   (13)   (13)   (52)   (14)   (13)   (13)       (40)
EBITDA after lease expense (EBITDA AL)   157   182   190   203   732   165   192   205       562
Capital expenditure   (138)   (138)   (134)   (177)   (587)   (154)   (147)   (138)       (439)
Operating free cash flow proxy   19   44   56   26   145   11   45   67       123
                                         
Broadband access lines in thousand   2,659   2,692   2,704   2,747   2,747   2,765   2,774   2,768       2,768
Mobile access lines in thousand   1,779   1,830   1,889   1,961   1,961   2,066   2,188   2,316       2,316

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2020
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
                                         
Swisscom Switzerland Revenue and results
Residential Customers   497   478   485   474   1,934   465   463   468       1,396
Business Customers   196   189   190   186   761   182   179   176       537
Revenue wireless   693   667   675   660   2,695   647   642   644       1,933
Residential Customers   505   500   500   507   2,012   503   498   490       1,491
Business Customers   226   227   223   223   899   223   215   214       652
Revenue fixed-line   731   727   723   730   2,911   726   713   704       2,143
Other revenue Business Customers   15   15   15   16   61   15   16   15       46
Total revenue telecoms services   1,439   1,409   1,413   1,406   5,667   1,388   1,371   1,363       4,122
Solutions business   267   260   259   272   1,058   273   274   274       821
Merchandise   175   175   176   233   759   212   174   181       567
Wholesale   164   158   168   171   661   173   159   166       498
Revenue other   5   1   17   25   48   21   33   48       102
Total revenue from external customers   2,050   2,003   2,033   2,107   8,193   2,067   2,011   2,032       6,110
                                         
Residential Customers   1,120   1,080   1,120   1,164   4,484   1,130   1,105   1,131       3,366
Business Customers   760   760   739   767   3,026   759   741   730       2,230
Wholesale   164   158   168   171   661   173   159   166       498
Infrastructure & Support Functions   6   5   6   5   22   5   6   5       16
Total revenue from external customers   2,050   2,003   2,033   2,107   8,193   2,067   2,011   2,032       6,110
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Residential Customers   703   683   683   629   2,698   699   706   703       2,108
Business Customers   337   339   340   332   1,348   338   327   323       988
Wholesale   132   125   134   133   524   138   124   136       398
Infrastructure & Support Functions   (262)   (277)   (258)   (307)   (1,104)   (259)   (276)   (282)       (817)
Intersegment elimination   (1)   2   (1)           (1)       (1)
Segment result (EBITDA)   909   872   898   787   3,466   916   881   879       2,676
Margin as % of net revenue   44.0   43.2   43.9   37.1   42.0   44.0   43.5   42.9       43.5
Lease expense   (59)   (58)   (58)   (57)   (232)   (58)   (59)   (57)       (174)
EBITDA after lease expense (EBITDA AL)   850   814   840   730   3,234   858   822   822       2,502
Capital expenditure   (367)   (409)   (410)   (413)   (1,599)   (371)   (382)   (372)       (1,125)
Operating free cash flow proxy   483   405   430   317   1,635   487   440   450       1,377
                                         
Operational data in thousand
Access lines
Residential Customers   1,291   1,276   1,257   1,235   1,235   1,207   1,188   1,171       1,171
Business Customers   291   288   289   288   288   284   283   270       270
Fixed telephony access lines   1,582   1,564   1,546   1,523   1,523   1,491   1,471   1,441       1,441
                                         
Residential Customers   1,754   1,750   1,747   1,746   1,746   1,733   1,733   1,736       1,736
Business Customers   299   298   298   297   297   295   294   294       294
Broadband access lines retail   2,053   2,048   2,045   2,043   2,043   2,028   2,027   2,030       2,030
                                         
Residential Customers   1,518   1,516   1,518   1,519   1,519   1,512   1,513   1,516       1,516
Business Customers   68   68   68   69   69   69   69   69       69
Swisscom TV access lines   1,586   1,584   1,586   1,588   1,588   1,581   1,582   1,585       1,585
                                         
Postpaid Residential Customers   2,931   2,933   2,962   2,991   2,991   2,990   3,016   3,063       3,063
Postpaid Business Customers   1,842   1,850   1,859   1,861   1,861   1,863   1,856   1,859       1,859
Mobile access lines Postpaid   4,773   4,783   4,821   4,852   4,852   4,853   4,872   4,922       4,922
Prepaid Residential Customers   1,526   1,481   1,432   1,372   1,372   1,324   1,297   1,268       1,268
Mobile access lines   6,299   6,264   6,253   6,224   6,224   6,177   6,169   6,190       6,190
                                         
RGU Residential Customers   9,020   8,956   8,916   8,863   8,863   8,766   8,747   8,754       8,754
RGU Business Customers   2,500   2,504   2,514   2,515   2,515   2,511   2,502   2,492       2,492
Revenue generating units (RGU)   11,520   11,460   11,430   11,378   11,378   11,277   11,249   11,246       11,246
                                         
Broadband access lines wholesale   525   533   543   555   555   567   581   588       588
Unbundled fixed access lines   66   63   59   56   56   52   49   44       44