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1st Interim Report 2022
1st Interim Report 2022
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1st Interim Report 2022
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  • Annual Report 2022
  • 3rd Interim Report 2022
  • 2nd Interim Report 2022
  • 1st Interim Report 2022
  • Annual Report 2021
  • 3rd Interim Report 2021
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  • 1st Interim Report 2021
  • Annual Report 2020
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Table of contents for the 1st Interim Report 2022 report

1st Interim Report 2022
KPIsBusiness performance
SummarySegment resultsDepreciation and amortisation, non operating resultsCash flowsNet asset positionOutlook
Consolidated interim financial statements
Consolidated statement of comprehensive income (unaudited)Consolidated balance sheet (unaudited)Consolidated statement of cash flows (unaudited)Consolidated statement of changes in equity (unaudited)
Notes to the interim financial statements
About this report1 Changes in accounting principles2 Segment information3 Operating costs4 Dividends5 Financial liabilities6 Financial result7 Net current operating assets8 Provisions and contingent liabilities
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2021 and 2022Forward looking statements
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Quarterly review 2021 and 2022


In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Income statement
Net revenue   2,803   2,780   2,760   2,840   11,183   2,768               2,768
Direct costs   (680)   (670)   (681)   (748)   (2,779)   (643)               (643)
Personnel expense   (716)   (611)   (636)   (704)   (2,667)   (697)               (697)
Other operating expense   (422)   (444)   (463)   (528)   (1,857)   (437)               (437)
Capitalised self-constructed assets and other income   139   138   168   153   598   146               146
Operating income (EBITDA)   1,124   1,193   1,148   1,013   4,478   1,137               1,137
Depreciation and amortisation   (538)   (549)   (527)   (517)   (2,131)   (522)               (522)
Depreciation of right-of-use assets   (70)   (71)   (70)   (70)   (281)   (66)               (66)
Operating income (EBIT)   516   573   551   426   2,066   549               549
Net interest expenses on financial assets and liabilities   (17)   (16)   (13)   (14)   (60)   (15)               (15)
Interest expense on lease liabilities   (11)   (11)   (11)   (11)   (44)   (11)               (11)
Other financial result   252   (35)   –   (17)   200   28               28
Equity-accounted investees   –   (4)   (1)   (5)   (10)   (1)               (1)
Income before income taxes   740   507   526   379   2,152   550               550
Income tax expense   (102)   (99)   (36)   (82)   (319)   (103)               (103)
Net income   638   408   490   297   1,833   447               447
Attributable to equity holders of Swisscom Ltd   638   407   490   297   1,832   447               447
Attributable to non-controlling interests   –   1   –   –   1   –               –
                                         
Earnings per share (in CHF)   12.32   7.86   9.46   5.73   35.37   8.63               8.63
                                       
                                         
Net revenue
Swisscom Switzerland   2,080   2,023   2,047   2,083   8,233   2,070               2,070
Fastweb   634   659   621   669   2,583   615               615
Other Operating Segments   240   265   265   263   1,033   241               241
Intersegment elimination   (151)   (167)   (173)   (175)   (666)   (158)               (158)
Total net revenue   2,803   2,780   2,760   2,840   11,183   2,768               2,768
         
                                         
Operating income before depreciation and amortisation (EBITDA)
Swisscom Switzerland   916   881   879   777   3,453   930               930
Fastweb   195   225   236   236   892   191               191
Other Operating Segments   34   49   53   30   166   42               42
Reconciliation pension cost   (13)   49   (11)   (11)   14   (15)               (15)
Elimination   (8)   (11)   (9)   (19)   (47)   (11)               (11)
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137               1,137
         
                                         
Capital expenditure
Swisscom Switzerland   371   382   372   517   1,642   364               364
Fastweb   168   162   149   170   649   163               163
Other Operating Segments   9   10   10   12   41   6               6
Intersegment elimination   (8)   (11)   (9)   (18)   (46)   (11)               (11)
Total capital expenditure   540   543   522   681   2,286   522               522

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Operating free cash flow proxy
Operating income (EBITDA)   1,124   1,193   1,148   1,013   4,478   1,137               1,137
Lease expense   (75)   (76)   (75)   (75)   (301)   (72)               (72)
EBITDA after lease expense (EBITDA AL)   1,049   1,117   1,073   938   4,177   1,065               1,065
Capital expenditure   (540)   (543)   (522)   (681)   (2,286)   (522)               (522)
Operating free cash flow proxy   509   574   551   257   1,891   543               543
                                         
Net debt
Net debt excl. lease liabilities   5,849   6,626   6,040   5,689   5,689   5,695               5,695
Net debt   7,825   8,569   7,999   7,706   7,706   7,680               7,680
                                         
Full-time equivalent employees
Swisscom Switzerland   12,830   12,867   12,963   12,889   12,889   12,999               12,999
Fastweb   2,733   2,750   2,741   2,753   2,753   2,737               2,737
Other Operating Segments   3,514   3,493   3,468   3,263   3,263   3,273               3,273
Total headcount   19,077   19,110   19,172   18,905   18,905   19,009               19,009
Information by geographical regions
Net revenue in Switzerland   2,164   2,115   2,134   2,213   8,579   2,154               2,154
Net revenue in other countries   639   665   626   686   2,604   614               614
Total net revenue   2,803   2,780   2,760   2,899   11,183   2,768               2,768
                                         
EBITDA Switzerland   927   962   907   773   3,569   941               941
EBITDA other countries   197   231   241   240   909   196               196
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137               1,137
                                         
Capital expenditure in Switzerland   371   381   372   510   1,634   359               359
Capital expenditure in other countries   169   162   150   171   652   163               163
Total capital expenditure   540   543   522   681   2,286   522               522
                                         
Headcount in Switzerland   15,975   15,964   16,006   15,882   15,882   15,987               15,987
Headcount in other countries   3,102   3,146   3,166   3,023   3,023   3,022               3,022
Total headcount (ful-time equivalent)   19,077   19,110   19,172   18,905   18,905   19,009               19,009
                                         
Fastweb, in EUR million
Residential Customers   286   288   282   286   1,142   285               285
Corporate Business   237   244   231   267   979   247               247
Wholesale   56   66   60   81   263   62               62
Revenue from external customers   579   598   573   634   2,384   594               594
Segment result (EBITDA)   179   205   218   224   826   185               185
Margin as % of net revenue   30.8   34.2   38.0   35.2   34.5   31.1               31.0
Lease expense   (14)   (13)   (13)   (14)   (54)   (14)               (14)
EBITDA after lease expense (EBITDA AL)   165   192   205   210   772   171               171
Capital expenditure   (154)   (147)   (138)   (162)   (601)   (157)               (157)
Operating free cash flow proxy   11   45   67   48   171   14               14
                                         
Broadband access lines in thousand   2,765   2,774   2,768   2,750   2,750   2,731               2,731
Broadband access lines wholesale in thousand   153   190   237   306   306   363               363
Mobile access lines in thousand   2,066   2,188   2,316   2,472   2,472   2,649               2,649

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Swisscom Switzerland Revenue and results
Residential Customers   465   464   467   458   1,854   460               460
Business Customers   199   195   193   190   777   188               188
Revenue wireless   664   659   660   648   2,631   648               648
Residential Customers   504   500   498   499   2,001   505               505
Business Customers   222   217   213   214   866   212               212
Revenue fixed-line   726   717   711   713   2,867   717               717
Total revenue telecoms services   1,390   1,376   1,371   1,361   5,498   1,365               1,365
Solutions business   273   274   274   290   1,111   297               297
Merchandise   211   174   179   208   772   214               214
Wholesale   169   156   163   156   644   144               144
Revenue other   24   31   45   52   152   35               35
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055               2,055
                                         
Residential Customers   1,134   1,108   1,134   1,153   4,529   1,127               1,127
Business Customers   759   741   730   752   2,982   779               779
Wholesale   169   156   163   156   644   144               144
Infrastructure & Support Functions   5   6   5   6   22   5               5
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055               2,055
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Residential Customers   728   736   758   694   2,916   745               745
Business Customers   360   348   349   318   1,375   353               353
Wholesale   89   75   56   78   298   81               81
Infrastructure & Support Functions   (261)   (278)   (283)   (315)   (1,137)   (249)               (249)
Intersegment elimination   –   –   (1)   2   1   –               –
Segment result (EBITDA)   916   881   879   777   3,453   930               930
Margin as % of net revenue   44.0   43.5   42.9   37.3   41.9   44.9               44.9
Lease expense   (58)   (59)   (57)   (58)   (232)   (56)               (56)
EBITDA after lease expense (EBITDA AL)   858   822   822   719   3,221   874               874
Capital expenditure   (371)   (382)   (372)   (517)   (1,642)   (364)               (364)
Operating free cash flow proxy   487   440   450   202   1,579   510               510
                                         
Operational data in thousand
Access lines
Residential Customers   1,207   1,188   1,171   1,159   1,159   1,139               1,139
Business Customers   284   283   270   265   265   260               260
Fixed telephony access lines   1,491   1,471   1,441   1,424   1,424   1,399               1,399
                                         
Residential Customers   1,733   1,733   1,736   1,743   1,743   1,736               1,736
Business Customers   295   294   294   294   294   294               294
Broadband access lines retail   2,028   2,027   2,030   2,037   2,037   2,030               2,030
                                         
Residential Customers   1,512   1,513   1,516   1,523   1,523   1,517               1,517
Business Customers   69   69   69   69   69   69               69
Swisscom TV access lines   1,581   1,582   1,585   1,592   1,592   1,586               1,586
                                         
Postpaid Residential Customers   2,990   3,016   3,063   3,110   3,110   3,136               3,136
Postpaid Business Customers   1,863   1,856   1,859   1,870   1,870   1,879               1,879
Mobile access lines Postpaid   4,853   4,872   4,922   4,980   4,980   5,015               5,015
Prepaid Residential Customers   1,324   1,297   1,268   1,197   1,197   1,136               1,136
Mobile access lines   6,177   6,169   6,190   6,177   6,177   6,151               6,151
                                         
RGU Residential Customers   8,766   8,747   8,754   8,732   8,732   8,664               8,664
RGU Business Customers   2,511   2,502   2,492   2,498   2,498   2,502               2,502
Revenue generating units (RGU)   11,277   11,249   11,246   11,230   11,230   11,166               11,166
                                         
Broadband access lines wholesale   677   689   692   698   698   703               703