Depreciation and amortisation, non-operating results
In CHF million, except where indicated |
3. quarter 2023 |
3. quarter 2022 |
Change |
1.01.–30.09. 2023 |
1.01.–30.09. 2022 |
Change |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income before depreciation and amortisation (EBITDA) | 1,174 | 1,150 | 2.1% | 3,477 | 3,341 | 4.1% | ||||||
| Depreciation and amortisation of property, plant and equipment and intangible assets | (510) | (525) | –2.9% | (1,566) | (1,583) | –1.1% | ||||||
| Depreciation of right-of-use assets | (65) | (67) | –3.0% | (197) | (201) | –2.0% | ||||||
| Operating income (EBIT) | 599 | 558 | 7.3% | 1,714 | 1,557 | 10.1% | ||||||
| Net interest expense on financial assets and liabilities | (18) | (13) | 38.5% | (51) | (46) | 10.9% | ||||||
| Interest expense on lease liabilities | (13) | (11) | 18.2% | (34) | (33) | 3.0% | ||||||
| Other financial result | 2 | (10) | (8) | 32 | ||||||||
| Result of equity-accounted investees | – | (1) | –100.0% | – | (2) | –100.0% | ||||||
| Income before income taxes | 570 | 523 | 9.0% | 1,621 | 1,508 | 7.5% | ||||||
| Income tax expense | (108) | (94) | 14.9% | (311) | (294) | 5.8% | ||||||
| Net income | 462 | 429 | 7.7% | 1,310 | 1,214 | 7.9% | ||||||
| Attributable to equity holders of Swisscom Ltd | 463 | 429 | 7.9% | 1,311 | 1,213 | 8.1% | ||||||
| Attributable to non-controlling interests | (1) | – | (1) | 1 | ||||||||
| Earnings per share (in CHF) | 8.94 | 8.28 | 8.0% | 25.31 | 23.42 | 8.1% |
Net income rose by 7.9% to CHF 1,310 million. The higher operating income was partly offset by the deterioration in the financial result. The financial result decreased mainly due to positive effects of CHF 65 million from the valuation of interest rate swaps at market value in the previous year. Income tax expense was CHF 311 million (prior year: CHF 294 million), corresponding to an effective income tax rate of 19.2% (prior year: 19.5%).