Cash flows
| In CHF million | 2023 | 2022 | Change | |||
|---|---|---|---|---|---|---|
| In CHF millionOperating income before depreciation and amortisation (EBITDA) | 20234,622 | 20224,406 | Change216 | |||
| In CHF millionLease expense | 2023(288) | 2022(286) | Change(2) | |||
| In CHF millionEBITDA after lease expense (EBITDAaL) | 20234,334 | 20224,120 | Change214 | |||
| In CHF millionCapital expenditure | 2023(2,292) | 2022(2,309) | Change17 | |||
| In CHF millionOperating free cash flow proxy | 20232,042 | 20221,811 | Change231 | |||
| In CHF millionChange in net working capital | 2023(133) | 2022(64) | Change(69) | |||
| In CHF millionChange in defined benefit obligations | 2023(31) | 202249 | Change(80) | |||
| In CHF millionNet interest payments on financial assets and liabilities | 2023(77) | 2022(60) | Change(17) | |||
| In CHF millionIncome taxes paid | 2023(313) | 2022(378) | Change65 | |||
| In CHF millionOther operating cash flow | 2023(8) | 2022(9) | Change1 | |||
| In CHF millionFree cash flow | 20231,480 | 20221,349 | Change131 | |||
| In CHF millionDividends paid to equity holders of Swisscom Ltd | 2023(1,140) | 2022(1,140) | Change– | |||
| In CHF millionNet expenditures for company acquisitions and disposals | 2023(63) | 2022(69) | Change6 | |||
| In CHF millionOther changes 1 | 202326 | 2022192 | Change(166) | |||
| In CHF millionDecrease in net debt | 2023303 | 2022332 | Change(29) | |||
| In CHF million
1 Includes foreign currency effects, fair value adjustments and non-cash changes in net debt positions.
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The operating free cash flow proxy rose by CHF 231 million year-on-year to CHF 2,042 million, mainly due to the improved operating income before depreciation and amortisation (EBITDA). Free cash flow rose by CHF 131 million, mainly due to the lower income taxes paid. The free cash flow of CHF 1,480 million financed the dividend totalling CHF 1,140 million, the business acquisitions and the reduction of net debt.