Reconciliation of alternative performance measures
In CHF million | 1.1.–31.3.2025 | 1.1.–31.3.2024 | Change | |||
---|---|---|---|---|---|---|
EBITDA after lease expense (EBITDAaL) | ||||||
Operating income before depreciation and amortisation | 1,686 | 1,255 | 431 | |||
Depreciation of right-of-use assets | (394) | (165) | (229) | |||
Depreciation of indefeasible rights of use (IRU) | 11 | 5 | 6 | |||
Interest expense on lease liabilities | (26) | (12) | (14) | |||
EBITDA after lease expense (EBITDAaL) | 1,277 | 1,083 | 194 | |||
Capital expenditure | ||||||
Purchase of property, plant and equipment and intangible assets | 761 | 590 | 171 | |||
Payments for indefeasible rights of use (IRU) | 18 | 4 | 14 | |||
Capital expenditure | 779 | 594 | 185 | |||
Operating free cash flow | ||||||
Cash flow from operating activities | 1,663 | 981 | 682 | |||
Purchase of property, plant and equipment and intangible assets | (761) | (590) | (171) | |||
Payments for indefeasible rights of use (IRU) | (18) | (4) | (14) | |||
Depreciation of right-of-use assets | (394) | (165) | (229) | |||
Depreciation of indefeasible rights of use (IRU) | 11 | 5 | 6 | |||
Proceeds from finance lease receivables | (13) | (23) | 10 | |||
Change in deferred gain from the sale and leaseback of real estate | 1 | 1 | – | |||
Change in operating assets and liabilities | (95) | 198 | (293) | |||
Change in provisions | 40 | 27 | 13 | |||
Change in defined benefit obligations | (5) | 2 | (7) | |||
Gain on sale of property, plant and equipment | 9 | 2 | 7 | |||
Loss on sale of property, plant and equipment | (2) | – | (2) | |||
Revenue from finance leases | 11 | 15 | (4) | |||
Interest received | (8) | (2) | (6) | |||
Interest payments for financial liabilities | 13 | 12 | 1 | |||
Income taxes paid | 46 | 30 | 16 | |||
Operating free cash flow | 498 | 489 | 9 | |||
Free cash flow | ||||||
Cash flow from operating activities | 1,663 | 981 | 682 | |||
Cash flow used in investing activities | (773) | (585) | (188) | |||
Repayment of lease liabilities | (442) | (196) | (246) | |||
Acquisition of subsidiaries, net of cash and cash equivalents acquired | 8 | 9 | (1) | |||
Purchase of other financial assets | 21 | 1 | 20 | |||
Proceeds from other financial assets | (7) | (12) | 5 | |||
Other cash flows from financing activities | 1 | – | 1 | |||
Free cash flow | 471 | 198 | 273 |
In CHF million |
1.1.–31.3.2025 |
1.1.–31.3.2024 |
Change |
Change at constant exchange rates |
||||
---|---|---|---|---|---|---|---|---|
Revenue, reported | 3,759 | 2,699 | 39.3% | 39.5% | ||||
Pro forma revenue Vodafone Italia | – | 1,107 | ||||||
Revenue, pro forma | 3,759 | 3,806 | –1.2% | –1.1% | ||||
EBITDA after lease expense (EBITDAaL), reported | 1,277 | 1,083 | 17.9% | 18.0% | ||||
Pro forma EBITDAaL Vodafone Italia | – | 284 | ||||||
EBITDAaL, pro forma | 1,277 | 1,367 | –6.6% | –6.5% | ||||
Integration cost of Vodafone Italia | 6 | – | ||||||
Transaction cost for the acquisition of Vodafone Italia | – | 6 | ||||||
Release of provisions for legal proceedings in Switzerland | – | (24) | ||||||
Pension cost (IAS 19 reconciliation) | 4 | (4) | ||||||
EBITDAaL, adjusted | 1,287 | 1,345 | –4.3% | –4.2% | ||||
Capital expenditure, reported | 779 | 594 | 31.1% | 31.3% | ||||
Pro forma capital expenditure Vodafone Italia | – | 303 | ||||||
Capital expenditure, pro forma | 779 | 897 | –13.2% | –13.0% | ||||
Integration capital expenditure of Vodafone Italia | (10) | (43) | ||||||
Capital expenditure, adjusted | 769 | 854 | –10.0% | –9.8% | ||||
Operarting free cash flow, reported | 498 | 489 | 1.8% | 1.8% | ||||
Pro forma revenue Vodafone Italia | – | (19) | ||||||
Operating free cash flow, pro forma | 498 | 470 | 6.0% | 6.0% | ||||
EBITDAaL adjustments | 10 | (22) | ||||||
Capital expenditure adjustments | 10 | 43 | ||||||
Operating free cash flow, adjusted | 518 | 491 | 5.5% | 5.5% |