Segment results
In CHF million |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
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---|---|---|---|---|---|---|---|---|---|---|---|---|
In CHF million |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
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In CHF millionRevenue 1 |
||||||||||||
In CHF millionResidential Customers |
2nd quarter 20231,099 |
2nd quarter 20221,108 |
Change–0.8% |
1st half-year 20232,235 |
1st half-year 20222,239 |
Change–0.2% |
||||||
In CHF millionBusiness Customers |
2nd quarter 2023763 |
2nd quarter 2022766 |
Change–0.4% |
1st half-year 20231,535 |
1st half-year 20221,557 |
Change–1.4% |
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In CHF millionWholesale |
2nd quarter 2023136 |
2nd quarter 2022136 |
Change–% |
1st half-year 2023270 |
1st half-year 2022269 |
Change0.4% |
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In CHF millionInfrastructure & Support Functions |
2nd quarter 202319 |
2nd quarter 202218 |
Change5.6% |
1st half-year 202338 |
1st half-year 202236 |
Change5.6% |
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In CHF millionIntersegment elimination |
2nd quarter 2023(17) |
2nd quarter 2022(17) |
Change–% |
1st half-year 2023(34) |
1st half-year 2022(34) |
Change–% |
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In CHF millionSwisscom Switzerland |
2nd quarter 20232,000 |
2nd quarter 20222,011 |
Change–0.5% |
1st half-year 20234,044 |
1st half-year 20224,067 |
Change–0.6% |
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In CHF millionFastweb |
2nd quarter 2023617 |
2nd quarter 2022615 |
Change0.3% |
1st half-year 20231,236 |
1st half-year 20221,230 |
Change0.5% |
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In CHF millionOther Operating Segments |
2nd quarter 2023258 |
2nd quarter 2022259 |
Change–0.4% |
1st half-year 2023501 |
1st half-year 2022500 |
Change0.2% |
||||||
In CHF millionIntersegment elimination |
2nd quarter 2023(172) |
2nd quarter 2022(172) |
Change–% |
1st half-year 2023(331) |
1st half-year 2022(330) |
Change0.3% |
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In CHF millionTotal revenue |
2nd quarter 20232,703 |
2nd quarter 20222,713 |
Change–0.4% |
1st half-year 20235,450 |
1st half-year 20225,467 |
Change–0.3% |
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In CHF million |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF millionOperating income before depreciation and amortisation (EBITDA) 1 |
||||||||||||
In CHF millionResidential Customers |
2nd quarter 2023741 |
2nd quarter 2022730 |
Change1.5% |
1st half-year 20231,489 |
1st half-year 20221,476 |
Change0.9% |
||||||
In CHF millionBusiness Customers |
2nd quarter 2023334 |
2nd quarter 2022339 |
Change–1.5% |
1st half-year 2023679 |
1st half-year 2022691 |
Change–1.7% |
||||||
In CHF millionWholesale |
2nd quarter 202386 |
2nd quarter 202274 |
Change16.2% |
1st half-year 2023166 |
1st half-year 2022155 |
Change7.1% |
||||||
In CHF millionInfrastructure & Support Functions |
2nd quarter 2023(247) |
2nd quarter 2022(326) |
Change–24.2% |
1st half-year 2023(478) |
1st half-year 2022(575) |
Change–16.9% |
||||||
In CHF millionIntersegment elimination |
2nd quarter 2023(1) |
2nd quarter 20221 |
Change–% |
1st half-year 2023– |
1st half-year 20221 |
Change–100.0% |
||||||
In CHF millionSwisscom Switzerland |
2nd quarter 2023913 |
2nd quarter 2022818 |
Change11.6% |
1st half-year 20231,856 |
1st half-year 20221,748 |
Change6.2% |
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In CHF millionFastweb |
2nd quarter 2023206 |
2nd quarter 2022222 |
Change–7.2% |
1st half-year 2023393 |
1st half-year 2022413 |
Change–4.8% |
||||||
In CHF millionOther Operating Segments |
2nd quarter 202321 |
2nd quarter 202241 |
Change–48.8% |
1st half-year 202355 |
1st half-year 202283 |
Change–33.7% |
||||||
In CHF millionReconciliation pension cost 2 |
2nd quarter 202310 |
2nd quarter 2022(15) |
Change–% |
1st half-year 202319 |
1st half-year 2022(30) |
Change–% |
||||||
In CHF millionIntersegment elimination |
2nd quarter 2023(11) |
2nd quarter 2022(12) |
Change–8.3% |
1st half-year 2023(20) |
1st half-year 2022(23) |
Change–13.0% |
||||||
In CHF millionTotal EBITDA |
2nd quarter 20231,139 |
2nd quarter 20221,054 |
Change8.1% |
1st half-year 20232,303 |
1st half-year 20222,191 |
Change5.1% |
||||||
In CHF million 1 Swisscom has changed the revenue recognition for roaming contracts with minimum guarantees as of 1 January 2023 and made adjustments to the financial management. The previous year’s figures have been adjusted accordingly. For further information, see notes 1 and 2 to the interim financial statements.
|
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In CHF million 2 Operating income of segments includes ordinary employer contributions as pension fund expense. The difference to the pension cost according to IAS 19 is recognised as a reconciliation item.
|
Swisscom’s reporting focuses on the operating divisions Swisscom Switzerland and Fastweb. The other business divisions are grouped together under Other Operating Segments. Swisscom Switzerland comprises the customer segments Residential Customers, Business Customers and Wholesale, along with the Infrastructure & Support Functions business division. Fastweb is a telecommunications provider for residential and business customers in Italy. Other Operating Segments primarily comprises Swisscom Directories Ltd (localsearch), Swisscom Broadcast Ltd (radio transmitters) and cablex Ltd (network construction and maintenance).
The Infrastructure & Support Functions business division does not charge any network costs or management fees to other segments for its services. The remaining services between the segments are charged at market prices. Network costs in Switzerland are budgeted, monitored and controlled by the Infrastructure & Support Functions segment, which is managed as a cost centre. For this reason, no revenue is credited to the Infrastructure & Support Functions segment within the segment reporting, with the exception of the rental and administration of buildings and vehicles. The results of the Residential Customers, Business Customers and Wholesale segments thus correspond to a contribution margin before network costs.
Swisscom Switzerland
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedRevenue and operating income before depreciation and amortisation (EBITDA) |
||||||||||||
In CHF million, except where indicatedTelecom services |
2nd quarter 20231,341 |
2nd quarter 20221,357 |
Change–1.2% |
1st half-year 20232,689 |
1st half-year 20222,722 |
Change–1.2% |
||||||
In CHF million, except where indicatedIT services |
2nd quarter 2023292 |
2nd quarter 2022285 |
Change2.5% |
1st half-year 2023583 |
1st half-year 2022574 |
Change1.6% |
||||||
In CHF million, except where indicatedMerchandise |
2nd quarter 2023175 |
2nd quarter 2022185 |
Change–5.4% |
1st half-year 2023392 |
1st half-year 2022407 |
Change–3.7% |
||||||
In CHF million, except where indicatedWholesale |
2nd quarter 2023132 |
2nd quarter 2022133 |
Change–0.8% |
1st half-year 2023263 |
1st half-year 2022263 |
Change–% |
||||||
In CHF million, except where indicatedRevenue other |
2nd quarter 202344 |
2nd quarter 202234 |
Change29.4% |
1st half-year 202386 |
1st half-year 202269 |
Change24.6% |
||||||
In CHF million, except where indicatedExternal revenue |
2nd quarter 20231,984 |
2nd quarter 20221,994 |
Change–0.5% |
1st half-year 20234,013 |
1st half-year 20224,035 |
Change–0.5% |
||||||
In CHF million, except where indicatedIntersegment revenue |
2nd quarter 202316 |
2nd quarter 202217 |
Change–5.9% |
1st half-year 202331 |
1st half-year 202232 |
Change–3.1% |
||||||
In CHF million, except where indicatedRevenue |
2nd quarter 20232,000 |
2nd quarter 20222,011 |
Change–0.5% |
1st half-year 20234,044 |
1st half-year 20224,067 |
Change–0.6% |
||||||
In CHF million, except where indicatedDirect costs |
2nd quarter 2023(393) |
2nd quarter 2022(400) |
Change–1.8% |
1st half-year 2023(816) |
1st half-year 2022(820) |
Change–0.5% |
||||||
In CHF million, except where indicatedIndirect costs |
2nd quarter 2023(694) |
2nd quarter 2022(793) |
Change–12.5% |
1st half-year 2023(1,372) |
1st half-year 2022(1,499) |
Change–8.5% |
||||||
In CHF million, except where indicatedOperating expense |
2nd quarter 2023(1,087) |
2nd quarter 2022(1,193) |
Change–8.9% |
1st half-year 2023(2,188) |
1st half-year 2022(2,319) |
Change–5.6% |
||||||
In CHF million, except where indicatedEBITDA |
2nd quarter 2023913 |
2nd quarter 2022818 |
Change11.6% |
1st half-year 20231,856 |
1st half-year 20221,748 |
Change6.2% |
||||||
In CHF million, except where indicatedMargin as % of revenue |
2nd quarter 202345.7 |
2nd quarter 202240.7 |
Change |
1st half-year 202345.9 |
1st half-year 202243.0 |
Change |
||||||
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedOperating free cash flow proxy |
||||||||||||
In CHF million, except where indicatedEBITDA |
2nd quarter 2023913 |
2nd quarter 2022818 |
Change11.6% |
1st half-year 20231,856 |
1st half-year 20221,748 |
Change6.2% |
||||||
In CHF million, except where indicatedLease expense |
2nd quarter 2023(55) |
2nd quarter 2022(55) |
Change–% |
1st half-year 2023(111) |
1st half-year 2022(111) |
Change–% |
||||||
In CHF million, except where indicatedEBITDA after lease expense (EBITDAaL) |
2nd quarter 2023858 |
2nd quarter 2022763 |
Change12.5% |
1st half-year 20231,745 |
1st half-year 20221,637 |
Change6.6% |
||||||
In CHF million, except where indicatedCapital expenditure |
2nd quarter 2023(427) |
2nd quarter 2022(391) |
Change9.2% |
1st half-year 2023(821) |
1st half-year 2022(755) |
Change8.7% |
||||||
In CHF million, except where indicatedOperating free cash flow proxy |
2nd quarter 2023431 |
2nd quarter 2022372 |
Change15.9% |
1st half-year 2023924 |
1st half-year 2022882 |
Change4.8% |
||||||
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedOperational data in thousand and headcount |
||||||||||||
In CHF million, except where indicatedFixed telephony access lines |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20231,271 |
1st half-year 20221,369 |
Change–7.2% |
||||||
In CHF million, except where indicatedBroadband access lines retail |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20232,012 |
1st half-year 20222,026 |
Change–0.7% |
||||||
In CHF million, except where indicatedTV access lines |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20231,549 |
1st half-year 20221,582 |
Change–2.1% |
||||||
In CHF million, except where indicatedMobile access lines |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20236,195 |
1st half-year 20226,157 |
Change0.6% |
||||||
In CHF million, except where indicatedAccess lines wholesale |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023682 |
1st half-year 2022692 |
Change–1.4% |
||||||
In CHF million, except where indicatedFull-time equivalent employees |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 202313,054 |
1st half-year 202212,927 |
Change1.0% |
Swisscom Switzerland’s revenue decreased slightly by 0.6% or CHF 23 million to CHF 4,044 million. Revenue from telecoms services decreased by 1.2% or CHF 33 million to CHF 2,689 million. Of the decrease, CHF 25 million (–3.1%) is attributable to the Business Customers segment; revenue from telecoms services in the Residential Customers segment remained almost stable at CHF 1,919 million (–0.4%). In contrast, revenue from IT services with business customers rose by 1.6% to CHF 583 million. Market saturation is reflected in fewer connections and declining subscriber bases for broadband retail (–0.7%) and TV (–2.1%). Fixed network telephony (–7.2%) is significantly affected by its substitution with mobile telephony. In mobile telephony, the number of subscribers increased slightly (+0.6%), while the customer structure changed due to an increase in postpaid lines (+164,000) and a similarly strong decrease in prepaid connections (–126,000). The share of secondary and third-party brands in the Residential Customers segment rose from 25% to 30%.
The operating expense decreased by 5.6% or CHF 131 million. Direct costs fell slightly by 0.5% to CHF 816 million. The costs for subscriber acquisition and retention increased, while the costs for purchasing services and merchandise decreased. Indirect costs fell by CHF 127 million (–8.5%) and were influenced primarily by non-recurring items in connection with provisions for legal proceedings. In the first half of 2023, provisions for legal proceedings of CHF 10 million (net) were reversed with an effect on EBITDA. In the same period of the previous year, provisions of CHF 82 million had been recognised with an effect on EBITDA. Excluding these items, indirect costs fell by CHF 35 million (–2.5%). In telecommunications, cost savings of CHF 40 million were realised through efficiency improvement measures and optimised network maintenance. In the area of IT services, indirect costs rose by CHF 5 million. Headcount increased year-on-year by 1.0% to 13,054 FTEs. The increase can be attributed primarily to the acquisition of Axept Business Software AG in the current financial year. Operating income before depreciation and amortisation (EBITDA) was up by 6.2% or CHF 108 million to CHF 1,856 million. Without the non-recurring items mentioned, it increased by 0.9% or CHF 16 million. The decline in revenue from telecoms services was more than compensated for thanks to ongoing cost-cutting measures. Capital expenditure increased by 8.7% or CHF 66 million to CHF 821 million mainly due to the expansion and upgrading of transport networks. Swisscom plans to increase fibre-optic coverage (FTTH) to around 55% by the end of 2025, and to 70–80% by 2030.
Fastweb
In EUR million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
In EUR million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In EUR million, except where indicatedRevenue and operating income before depreciation and amortisation (EBITDA) |
||||||||||||
In EUR million, except where indicatedResidential customers |
2nd quarter 2023291 |
2nd quarter 2022287 |
Change1.4% |
1st half-year 2023580 |
1st half-year 2022572 |
Change1.4% |
||||||
In EUR million, except where indicatedCorporate customers |
2nd quarter 2023266 |
2nd quarter 2022250 |
Change6.4% |
1st half-year 2023527 |
1st half-year 2022497 |
Change6.0% |
||||||
In EUR million, except where indicatedWholesale |
2nd quarter 202370 |
2nd quarter 202264 |
Change9.4% |
1st half-year 2023141 |
1st half-year 2022126 |
Change11.9% |
||||||
In EUR million, except where indicatedExternal revenue |
2nd quarter 2023627 |
2nd quarter 2022601 |
Change4.3% |
1st half-year 20231,248 |
1st half-year 20221,195 |
Change4.4% |
||||||
In EUR million, except where indicatedIntersegment revenue |
2nd quarter 20231 |
2nd quarter 20223 |
Change–66.7% |
1st half-year 20233 |
1st half-year 20224 |
Change–25.0% |
||||||
In EUR million, except where indicatedRevenue |
2nd quarter 2023628 |
2nd quarter 2022604 |
Change4.0% |
1st half-year 20231,251 |
1st half-year 20221,199 |
Change4.3% |
||||||
In EUR million, except where indicatedOperating expense |
2nd quarter 2023(418) |
2nd quarter 2022(386) |
Change8.3% |
1st half-year 2023(853) |
1st half-year 2022(796) |
Change7.2% |
||||||
In EUR million, except where indicatedEBITDA |
2nd quarter 2023210 |
2nd quarter 2022218 |
Change–3.7% |
1st half-year 2023398 |
1st half-year 2022403 |
Change–1.2% |
||||||
In EUR million, except where indicatedMargin as % of revenue |
2nd quarter 202333.4 |
2nd quarter 202236.1 |
Change |
1st half-year 202331.8 |
1st half-year 202233.6 |
Change |
||||||
In EUR million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In EUR million, except where indicatedOperating free cash flow proxy |
||||||||||||
In EUR million, except where indicatedEBITDA |
2nd quarter 2023210 |
2nd quarter 2022218 |
Change–3.7% |
1st half-year 2023398 |
1st half-year 2022403 |
Change–1.2% |
||||||
In EUR million, except where indicatedLease expense |
2nd quarter 2023(14) |
2nd quarter 2022(15) |
Change–6.7% |
1st half-year 2023(27) |
1st half-year 2022(29) |
Change–6.9% |
||||||
In EUR million, except where indicatedEBITDA after lease expense (EBITDAaL) |
2nd quarter 2023196 |
2nd quarter 2022203 |
Change–3.4% |
1st half-year 2023371 |
1st half-year 2022374 |
Change–0.8% |
||||||
In EUR million, except where indicatedCapital expenditure |
2nd quarter 2023(144) |
2nd quarter 2022(142) |
Change1.4% |
1st half-year 2023(297) |
1st half-year 2022(299) |
Change–0.7% |
||||||
In EUR million, except where indicatedOperating free cash flow proxy |
2nd quarter 202352 |
2nd quarter 202261 |
Change–14.8% |
1st half-year 202374 |
1st half-year 202275 |
Change–1.3% |
||||||
In EUR million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022. |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In EUR million, except where indicatedOperational data in thousand and headcount |
||||||||||||
In EUR million, except where indicatedBroadband access lines retail |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20232,631 |
1st half-year 20222,712 |
Change–3.0% |
||||||
In EUR million, except where indicatedBroadband access lines wholesale |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023532 |
1st half-year 2022386 |
Change37.8% |
||||||
In EUR million, except where indicatedMobile access lines |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20233,343 |
1st half-year 20222,805 |
Change19.2% |
||||||
In EUR million, except where indicatedFull-time equivalent employees |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20233,117 |
1st half-year 20222,880 |
Change8.2% |
Fastweb’s revenue rose year-on-year by 4.3% or EUR 52 million to EUR 1,251 million. Competition remained fierce. The customer base in the fixed-network business (end-customer and wholesale) grew by 2.1% overall to 3.16 million. Although this fell by 3.0% to 2.63 million in the end-customer business as a result of the value strategy pursued by Fastweb and due to the challenging market environment, the number of ultra-fast broadband connections provided by Fastweb to other operators rose to 532,000 (+37.8%). Among end customers, the share of ultra-fast broadband connections increased by 3 percentage points to 88%. The number of mobile access lines increased by 538,000 (+19.2%) to 3.34 million, with bundled offerings continuing to play an important role here. 42% of broadband customers used a bundled offering combining fixed network and mobile. Revenue from residential customers increased by 1.4% or EUR 8 million to EUR 580 million, mainly as a result of the greater mobile customer base. Revenue from business customers increased by 6.0% or EUR 30 million to EUR 527 million, driven by the strong market position in the area of public administration. Revenue from wholesale business increased by 11.9% or EUR 15 million to EUR 141 million due to the higher number of subscribers.
Operating expense and operating income before depreciation and amortisation (EBITDA) increased due to revenue growth and were influenced by the recognition of provisions for legal proceedings in the amount of EUR 13 million in the first half of 2023. Without this effect, operating expense rose by EUR 44 million (+5.5%) and EBITDA by 2.0% or EUR 8 million to EUR 411 million. Capital expenditure fell by 0.7% to EUR 297 million due to a decrease in customer-driven investment. Headcount increased by 8.2% or 237 FTEs to 3,117 FTEs as the company took on external staff and the growth created a need for more personnel.
Other Operating Segments
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedRevenue and operating income before depreciation and amortisation (EBITDA) |
||||||||||||
In CHF million, except where indicatedExternal revenue |
2nd quarter 2023104 |
2nd quarter 2022106 |
Change–1.9% |
1st half-year 2023204 |
1st half-year 2022206 |
Change–1.0% |
||||||
In CHF million, except where indicatedIntersegment revenue |
2nd quarter 2023154 |
2nd quarter 2022153 |
Change0.7% |
1st half-year 2023297 |
1st half-year 2022294 |
Change1.0% |
||||||
In CHF million, except where indicatedRevenue |
2nd quarter 2023258 |
2nd quarter 2022259 |
Change–0.4% |
1st half-year 2023501 |
1st half-year 2022500 |
Change0.2% |
||||||
In CHF million, except where indicatedOperating expense |
2nd quarter 2023(237) |
2nd quarter 2022(218) |
Change8.7% |
1st half-year 2023(446) |
1st half-year 2022(417) |
Change7.0% |
||||||
In CHF million, except where indicatedEBITDA |
2nd quarter 202321 |
2nd quarter 202241 |
Change–48.8% |
1st half-year 202355 |
1st half-year 202283 |
Change–33.7% |
||||||
In CHF million, except where indicatedMargin as % of revenue |
2nd quarter 20238.1 |
2nd quarter 202215.8 |
Change |
1st half-year 202311.0 |
1st half-year 202216.6 |
Change |
||||||
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedOperating free cash flow proxy |
||||||||||||
In CHF million, except where indicatedEBITDA |
2nd quarter 202321 |
2nd quarter 202241 |
Change–48.8% |
1st half-year 202355 |
1st half-year 202283 |
Change–33.7% |
||||||
In CHF million, except where indicatedLease expense |
2nd quarter 2023(3) |
2nd quarter 2022(2) |
Change50.0% |
1st half-year 2023(5) |
1st half-year 2022(5) |
Change–% |
||||||
In CHF million, except where indicatedEBITDA after lease expense (EBITDAaL) |
2nd quarter 202318 |
2nd quarter 202239 |
Change–53.8% |
1st half-year 202350 |
1st half-year 202278 |
Change–35.9% |
||||||
In CHF million, except where indicatedCapital expenditure |
2nd quarter 2023(10) |
2nd quarter 2022(8) |
Change25.0% |
1st half-year 2023(18) |
1st half-year 2022(14) |
Change28.6% |
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In CHF million, except where indicatedOperating free cash flow proxy |
2nd quarter 20238 |
2nd quarter 202231 |
Change–74.2% |
1st half-year 202332 |
1st half-year 202264 |
Change–50.0% |
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In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedHeadcount |
||||||||||||
In CHF million, except where indicatedFull-time equivalent employees |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 20233,326 |
1st half-year 20223,260 |
Change2.0% |
Revenue in Other Operating Segments remained almost stable year-on-year at CHF 501 million (+0.2%). Operating income before depreciation and amortisation (EBITDA) fell by 33.7% or CHF 28 million to CHF 55 million due primarily to one-off charges in connection with customer projects and lower operating income from localsearch (advertising and directory platform business for Swiss SMEs). Accordingly, the profit margin fell to 11.0% (prior year: 16.6%). Headcount increased by 2.0% or 66 FTEs to 3,326 FTEs, partly as the result of an acquisition in the previous year.
Depreciation and amortisation, non-operating results
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
In CHF million, except where indicatedOperating income before depreciation and amortisation (EBITDA) |
2nd quarter 2023 1,139 |
2nd quarter 2022 1,054 |
Change 8.1% |
1st half-year 2023 2,303 |
1st half-year 2022 2,191 |
Change 5.1% |
||||||
In CHF million, except where indicatedDepreciation and amortisation of property, plant and equipment and intangible assets |
2nd quarter 2023 (531) |
2nd quarter 2022 (536) |
Change –0.9% |
1st half-year 2023 (1,056) |
1st half-year 2022 (1,058) |
Change –0.2% |
||||||
In CHF million, except where indicatedDepreciation of right-of-use assets |
2nd quarter 2023(66) |
2nd quarter 2022(68) |
Change–2.9% |
1st half-year 2023(132) |
1st half-year 2022(134) |
Change–1.5% |
||||||
In CHF million, except where indicatedOperating income (EBIT) |
2nd quarter 2023542 |
2nd quarter 2022450 |
Change20.4% |
1st half-year 20231,115 |
1st half-year 2022999 |
Change11.6% |
||||||
In CHF million, except where indicatedNet interest expense on financial assets and liabilities |
2nd quarter 2023 (19) |
2nd quarter 2022 (18) |
Change 5.6% |
1st half-year 2023 (33) |
1st half-year 2022 (33) |
Change –% |
||||||
In CHF million, except where indicatedInterest expense on lease liabilities |
2nd quarter 2023(9) |
2nd quarter 2022(11) |
Change–18.2% |
1st half-year 2023(21) |
1st half-year 2022(22) |
Change–4.5% |
||||||
In CHF million, except where indicatedOther financial result |
2nd quarter 2023(6) |
2nd quarter 202214 |
Change–% |
1st half-year 2023(10) |
1st half-year 202242 |
Change–% |
||||||
In CHF million, except where indicatedResult of equity-accounted investees |
2nd quarter 2023– |
2nd quarter 2022– |
Change–% |
1st half-year 2023– |
1st half-year 2022(1) |
Change–100.0% |
||||||
In CHF million, except where indicatedIncome before income taxes |
2nd quarter 2023508 |
2nd quarter 2022435 |
Change16.8% |
1st half-year 20231,051 |
1st half-year 2022985 |
Change6.7% |
||||||
In CHF million, except where indicatedIncome tax expense |
2nd quarter 2023(102) |
2nd quarter 2022(97) |
Change5.2% |
1st half-year 2023(203) |
1st half-year 2022(200) |
Change1.5% |
||||||
In CHF million, except where indicatedNet income |
2nd quarter 2023406 |
2nd quarter 2022338 |
Change20.1% |
1st half-year 2023848 |
1st half-year 2022785 |
Change8.0% |
||||||
In CHF million, except where indicatedAttributable to equity holders of Swisscom Ltd |
2nd quarter 2023406 |
2nd quarter 2022337 |
Change20.5% |
1st half-year 2023848 |
1st half-year 2022784 |
Change8.2% |
||||||
In CHF million, except where indicatedAttributable to non-controlling interests |
2nd quarter 2023– |
2nd quarter 20221 |
Change–100.0% |
1st half-year 2023– |
1st half-year 20221 |
Change–100.0% |
||||||
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
In CHF million, except where indicatedEarnings per share (in CHF) |
2nd quarter 20237.84 |
2nd quarter 20226.51 |
Change20.4% |
1st half-year 202316.37 |
1st half-year 202215.13 |
Change8.2% |
Net income rose by 8.0% to CHF 848 million. The increase in operating income was partly offset by the deterioration in the financial result. The financial result decreased mainly due to positive effects of CHF 62 million from the valuation of interest rate swaps at market value in the previous year. Income tax expense was CHF 203 million (prior year: CHF 200 million), corresponding to an effective income tax rate of 19.3% (prior year: 20.3%).