Net asset position
| In CHF million, except where indicated | 30.09.2021 | 31.12.2020 | Change | |||
|---|---|---|---|---|---|---|
| In CHF million, except where indicatedProperty, plant and equipment | 30.09.202110,733 | 31.12.202010,725 | Change0.1% | |||
| In CHF million, except where indicatedIntangible assets | 30.09.20211,698 | 31.12.20201,745 | Change–2.7% | |||
| In CHF million, except where indicatedGoodwill | 30.09.20215,163 | 31.12.20205,162 | Change–% | |||
| In CHF million, except where indicatedRight-of-use assets | 30.09.20212,106 | 31.12.20202,138 | Change–1.5% | |||
| In CHF million, except where indicatedTrade receivables | 30.09.20212,351 | 31.12.20202,132 | Change10.3% | |||
| In CHF million, except where indicatedTrade payables | 30.09.2021(1,467) | 31.12.2020(1,525) | Change–3.8% | |||
| In CHF million, except where indicatedProvisions | 30.09.2021(1,220) | 31.12.2020(1,216) | Change0.3% | |||
| In CHF million, except where indicatedDeferred gain on sale and leaseback of real estate | 30.09.2021(96) | 31.12.2020(106) | Change–9.4% | |||
| In CHF million, except where indicatedOther operating assets and liabilities, net | 30.09.2021(430) | 31.12.2020(240) | Change79.2% | |||
| In CHF million, except where indicatedNet operating assets | 30.09.202118,838 | 31.12.202018,815 | Change0.1% | |||
| In CHF million, except where indicatedNet debt | 30.09.2021(6,040) | 31.12.2020(6,218) | Change–2.9% | |||
| In CHF million, except where indicatedLease liabilities | 30.09.2021(1,959) | 31.12.2020(1,988) | Change–1.5% | |||
| In CHF million, except where indicatedNet defined benefit liabilities | 30.09.2021(11) | 31.12.2020(795) | Change–98.6% | |||
| In CHF million, except where indicatedIncome tax assets and liabilities, net | 30.09.2021(741) | 31.12.2020(643) | Change15.2% | |||
| In CHF million, except where indicatedEquity-accounted investees and other non-current financial assets | 30.09.2021454 | 31.12.2020320 | Change41.9% | |||
| In CHF million, except where indicatedEquity | 30.09.202110,541 | 31.12.20209,491 | Change11.1% | |||
| In CHF million, except where indicated | 30.09.2021 | 31.12.2020 | Change | |||
| In CHF million, except where indicatedEquity ratio in % | 30.09.202143.0 | 31.12.202039.1 | Change |
Net operating assets were virtually unchanged at CHF 18,838 million (+0.1%) compared with year-end 2020. Defined benefit obligations decreased by CHF 784 million to CHF 11 million as a result of an adjustment to the pension plan, a positive return on plan assets and a higher discount rate. The increase in equity by 11.1% or CHF 1,050 million to CHF 10,541 million was attributable to net income of CHF 1,536 million and other comprehensive income of CHF 652 million recognised directly in equity, minus the dividend payment of CHF 1,140 million. Correspondingly, the equity ratio rose from 39.1% to 43.0%.
Net debt
Net debt is presented both with and without classification of leases as financial liabilities. For credit rating purposes, rating agencies include lease liabilities in the calculation of net debt.
| In CHF million, except where indicated | 30.09.2021 | 31.12.2020 | Change | |||
|---|---|---|---|---|---|---|
| In CHF million, except where indicatedDebenture bonds | 30.09.20215,647 | 31.12.20206,110 | Change–7.6% | |||
| In CHF million, except where indicatedBank loans | 30.09.2021643 | 31.12.2020484 | Change32.9% | |||
| In CHF million, except where indicatedPrivate placements | 30.09.2021150 | 31.12.2020151 | Change–0.7% | |||
| In CHF million, except where indicatedOther financial liabilities | 30.09.2021241 | 31.12.2020297 | Change–18.9% | |||
| In CHF million, except where indicatedTotal financial liabilities | 30.09.20216,681 | 31.12.20207,042 | Change–5.1% | |||
| In CHF million, except where indicatedCash and cash equivalents | 30.09.2021(265) | 31.12.2020(340) | Change–22.1% | |||
| In CHF million, except where indicatedListed debt instruments | 30.09.2021(290) | 31.12.2020(271) | Change7.0% | |||
| In CHF million, except where indicatedDerivative financial instruments for financing | 30.09.2021(58) | 31.12.2020(79) | Change–26.6% | |||
| In CHF million, except where indicatedOther current financial assets | 30.09.2021(28) | 31.12.2020(134) | Change–79.1% | |||
| In CHF million, except where indicatedNet debt | 30.09.20216,040 | 31.12.20206,218 | Change–2.9% | |||
| In CHF million, except where indicatedLease liabilities | 30.09.20211,959 | 31.12.20201,988 | Change–1.5% | |||
| In CHF million, except where indicatedNet debt incl. lease liabilities | 30.09.20217,999 | 31.12.20208,206 | Change–2.5% |
In the previous year, Swisscom became the first listed company in Switzerland to issue a green bond in EUR. The first green bond issue in CHF followed in the second quarter of 2021. The nominal amount was CHF 100 million, with a coupon of 0.25% maturing in 2033. Swisscom repaid a EUR 500 million bond upon maturity in the third quarter of 2021. In recent years, Swisscom has taken advantage of favourable capital market conditions with a view to optimising the interest and maturity structure of the Group’s financial liabilities. As at 30 September 2021, the average interest expense on financial liabilities was 0.84%, the average residual term to maturity was 6.0 years, and the share of the Group’s variable interest-bearing financial liabilities was 17%.
Outlook
In CHF million or in CHF billion |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2 |
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In CHF million or in CHF billion |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2 |
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In CHF million or in CHF billionNet revenue |
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In CHF million or in CHF billionSwisscom Group |
2020 reportedCHF 11,100 mn |
2021 outlook previously 1,2~ CHF 11.3 bn |
2021 outlook adjusted 2~ CHF 11.2 bn |
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In CHF million or in CHF billionSwisscom w/o Fastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2~ CHF 8.6 bn |
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In CHF million or in CHF billionFastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2~ EUR 2.4 bn |
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In CHF million or in CHF billion |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2 |
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In CHF million or in CHF billionOperating income before depreciation and amortisation (EBITDA) |
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In CHF million or in CHF billionSwisscom Group |
2020 reportedCHF 4,382 mn |
2021 outlook previously 1,2CHF 4.4–4.5 bn |
2021 outlook adjusted 2CHF 4.4–4.5 bn 3 |
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In CHF million or in CHF billionSwisscom w/o Fastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2CHF 3.5–3.6 bn |
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In CHF million or in CHF billionFastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2~ EUR 0.8 bn |
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In CHF million or in CHF billion |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2 |
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In CHF million or in CHF billionCapital expenditure |
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In CHF million or in CHF billionSwisscom Group |
2020 reportedCHF 2,229 mn |
2021 outlook previously 1,2CHF 2.2–2.3 bn |
2021 outlook adjusted 2~ CHF 2.3 bn |
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In CHF million or in CHF billionSwisscom w/o Fastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2> CHF 1.6 bn |
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In CHF million or in CHF billionFastweb |
2020 reported |
2021 outlook previously 1,2 |
2021 outlook adjusted 2~ EUR 0.6 bn |
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In CHF million or in CHF billion 1 Communicated on 5 August 2021.
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In CHF million or in CHF billion 2 Exchange rate CHF/EUR 1.08 (2020: CHF/EUR 1.07).
|
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In CHF million or in CHF billion 3 2021 outlook for EBITDA after lease expense CHF 4.1–4.2 bn.
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The financial outlook for fiscal 2021 will be adjusted in terms of net revenue and capital expenditure. The adjustment takes into account the current status of the review of the fibre-optic partnership with Salt as well as the exchange rate development. Swisscom now expects net revenue of around CHF 11.2 billion (previously around CHF 11.3 billion) and capital expenditure of around CHF 2.3 billion (previously CHF 2.2 billion to CHF 2.3 billion). The expectation for EBITDA remains unchanged at between CHF 4.4 billion and CHF 4.5 billion. If business develops as planned, Swisscom will propose to the 2022 Annual General Meeting that the dividend for the 2021 financial year remain unchanged at CHF 22 per share.