Net asset position
|In CHF million, except where indicated||31.03.2023||31.12.2022||Change|
|Property, plant and equipment||10,885||10,811||0.7%|
|Receivables from finance leases||109||131||–16.8%|
|Deferred gain on sale and leaseback of real estate||(84)||(85)||–1.2%|
|Other operating assets and liabilities, net||(5)||(218)||–97.7%|
|Net operating assets||19,245||18,966||1.5%|
|Defined benefit assets and obligations, net||(11)||(11)||–%|
|Income tax assets and liabilities, net||(865)||(829)||4.3%|
|Equity-accounted investees and other financial assets||497||419||18.6%|
|Equity ratio in %||46.1||45.4|
Net operating assets were higher at CHF 19.2 billion (+1.5%) compared with year-end 2022. The 4.7% increase in equity to CHF 11.7 billion corresponds to the net income for the first quarter of 2023. The equity ratio rose from 45.4% to 46.1% compared to the end of 2022. On 28 March 2023, the Annual General Meeting of Swisscom Ltd approved the payment of an unchanged dividend of CHF 22 gross per share. A total dividend amount of CHF 1,140 million was paid out on 3 April 2023.
Net debt consists of financial liabilities and lease liabilities less cash and cash equivalents, listed debt instruments and derivative financial instruments.
|In CHF million||31.03.2023||31.12.2022|
|Other financial liabilities||279||282|
|Total financial liabilities||8,081||7,913|
|Cash and cash equivalents||(513)||(121)|
|Other financial assets||(397)||(418)|
In the first quarter of 2023, Swisscom raised a green bond of CHF 150 million with a coupon of 1.875% and a maturity of 7.5 years, as well as a privately placed bond of CHF 50 million with a coupon of 2.19% and a maturity of 30 years.
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 31 March 2023, the average interest rate on financial liabilities was 1.1%, the average residual term to maturity was 5.7 years, and the share of fixed-interest-bearing financial liabilities was 89%. Swisscom also has two lines of credit totalling CHF 2.2 billion, which have not been used.