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Annual Report 2023
Annual Report 2023
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Five-year review

In CHF million, except where indicated       2019   2020   2021   2022   2023
                         
Revenue and results
Revenue       11,453   11,100   11,183   11,051   11,072
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)       4,358   4,382   4,478   4,406   4,622
EBITDA as % of revenue   %   38.1   39.5   40.0   39.9   41.7
EBITDA after lease expense (EBITDAaL)       4,064   4,082   4,177   4,120   4,334
Operating income (EBIT)       1,910   1,947   2,066   2,040   2,205
Net income       1,669   1,528   1,833   1,603   1,711
Earnings per share   CHF   32.28   29.54   35.37   30.93   33.03
           
                         
Balance sheet and cash flows
Equity       8,875   9,491   10,813   11,171   11,622
Equity ratio   %   36.6   39.1   43.6   45.4   47.0
Capital ex­pen­di­ture       2,438   2,229   2,286   2,309   2,292
Operating free cash flow       1,626   1,853   1,891   1,811   2,042
Free cash flow       1,345   1,706   1,513   1,349   1,480
Net debt       8,785   8,206   7,706   7,374   7,071
           
                         
Employees
Full-time equivalent employees   number   19,317   19,062   18,905   19,157   19,729
Average number of full-time equivalent employees   number   19,561   19,095   19,099   19,046   19,461
           
                         
Operational data
Fixed tele­phony access lines in Switzer­land   in thousand   1,594   1,523   1,424   1,322   1,226
Broad­band access lines retail in Switzer­land   in thousand   2,058   2,043   2,037   2,027   2,006
TV access lines in Switzer­land   in thousand   1,555   1,588   1,592   1,571   1,537
Mobile access lines in Switzer­land   in thousand   6,333   6,224   6,177   6,173   6,202
Access lines wholesale Switzer­land   in thousand   585   611   698   679   692
Broad­band access lines retail in Italy   in thousand   2,637   2,747   2,750   2,683   2,601
Broad­band access lines wholesale in Italy   in thousand   117   158   306   458   648
Mobile access lines in Italy   in thousand   1,746   1,961   2,472   3,087   3,509
           
                         
Swisscom share
Number of issued shares   in million of shares   51.802   51.802   51.802   51.802   51.802
Market capitalisation       26,554   24,715   26,657   26,243   26,212
Closing price at end of period   CHF   512.60   477.10   514.60   506.60   506.00
Closing price highest   CHF   523.40   577.80   562.40   590.40   619.40
Closing price lowest   CHF   441.10   446.70   456.30   443.40   501.20
Dividend per share   CHF   22.00   22.00   22.00   22.00   22.00 1
Ratio payout/earnings per share   %   68.16   74.48   62.20   71.13   66.61
           
                         
In­for­ma­tion Switzer­land
Revenue       8,969   8,614   8,579   8,566   8,516
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)       3,508   3,522   3,569   3,534   3,842
Capital ex­pen­di­ture       1,770   1,596   1,634   1,688   1,685
Full-time equivalent employees   number   16,628   16,048   15,882   15,750   16,050
1 In accordance with the proposal of the Board of Directors to the Annual General Meeting.