Cash flows
In CHF million |
1.01.–30.09. 2024 |
1.01.–30.09. 2023 |
Change |
|||
|---|---|---|---|---|---|---|
| Operating income before depreciation and amortisation (EBITDA) | 3,438 | 3,477 | (39) | |||
| Lease expense | (217) | (217) | – | |||
| EBITDA after lease expense (EBITDAaL) | 3,221 | 3,260 | (39) | |||
| Capital expenditure | (1,731) | (1,630) | (101) | |||
| Operating free cash flow | 1,490 | 1,630 | (140) | |||
| Change in net working capital | (195) | (242) | 47 | |||
| Change in net defined benefit liabilities | 3 | (25) | 28 | |||
| Net interest payments on financial assets and liabilities | (5) | (56) | 51 | |||
| Income taxes paid | (242) | (271) | 29 | |||
| Other operating cash flow | (14) | 1 | (15) | |||
| Free cash flow | 1,037 | 1,037 | – | |||
| Net expenditures for company acquisitions and disposals | (19) | (60) | 41 | |||
| Dividends paid to equity holders of Swisscom Ltd | (1,140) | (1,140) | – | |||
| Proceeds from sale of FiberCop | 423 | – | 423 | |||
| Other changes 1 | (123) | 30 | (153) | |||
| Decrease (increase) in net debt | 178 | (133) | 311 | |||
|
1 Includes foreign currency effects, fair value adjustments and non-cash changes in net debt positions.
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Operating free cash flow fell by CHF 140 million to CHF 1,490 (–8,6%) million due to higher capital expenditure and lower EBITDA. Net working capital grew by CHF 195 million compared with the end of 2023 (prior year: increase of CHF 242 million). Various payment maturities for interest income and expenses resulted in lower net interest paid. Income taxes paid also dropped further due to other maturities. As a result, free cash flow remained stable at CHF 1,037 million. In the second quarter of 2024, an unchanged dividend per share of CHF 22 was paid, representing a total dividend payment of CHF 1,140 million. In 2024, Fastweb sold its 4.5% share in FiberCop for a purchase price of EUR 439 million (CHF 423 million).