Depreciation and amortisation, non-operating results
| In CHF million, except where indicated | 31.03.2024 | 31.03.2023 | Change | |||
|---|---|---|---|---|---|---|
| Operating income before depreciation and amortisation (EBITDA) | 1,155 | 1,164 | –0.8% | |||
| Depreciation and amortisation of property, plant and equipment and intangible assets | (522) | (525) | –0.6% | |||
| Depreciation of right-of-use assets | (65) | (66) | –1.5% | |||
| Operating income (EBIT) | 568 | 573 | –0.9% | |||
| Net interest expense on financial assets and liabilities | (15) | (14) | 7.1% | |||
| Interest expense on lease liabilities | (12) | (12) | –% | |||
| Other financial result | 13 | (4) | ||||
| Result of equity-accounted investees | – | – | –% | |||
| Income before income taxes | 554 | 543 | 2.0% | |||
| Income tax expense | (99) | (101) | –2.0% | |||
| Net income | 455 | 442 | 2.9% | |||
| Attributable to equity holders of Swisscom Ltd | 455 | 442 | 2.9% | |||
| Attributable to non-controlling interests | – | – | –% | |||
| Earnings per share (in CHF) | 8.78 | 8.53 | 2.9% |
Net income increased by 2.9% or CHF 13 million to CHF 455 million. The lower operating income (CHF –5 million) was offset by an improvement in the financial result (CHF +16 million) and lower income tax expense (CHF +2 million). The income tax expense was CHF 99 million (prior year: CHF 101 million), corresponding to an effective income tax rate of 17.9% (prior year: 18.6%).