Table of contents for the 1st Interim Report 2026 report

Interim Report 2026KPIs GroupKPIs segmentsFinancial review
SummaryDepreciation and amortisation, non-operating resultsCash flowsNet asset positionFinancial outlook
Consolidated interim financial statements
Consolidated statement of comprehensive income (unaudited)Consolidated balance sheet (unaudited)Consolidated statement of cash flows (unaudited)Consolidated statement of changes in equity (unaudited)
Notes to the interim financial statements
About this report1 Changes in accounting principles2 Segment information3 Operating costs4 Dividend5 Financial liabilities6 Financial result7 Net current operating assets8 Provisions and contingent liabilities
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2025 and 2026Disclaimer

KPIs segments

In CHF million Q1 2026 Q1 2025 Change in %
Revenue
Switzerland 1,937 1,962 (25) –1.3%
Italy 1,596 1,717 (121) –7.0%
Others 225 258 (33) –12.8%
Elimination (152) (178) 26 –14.4%
Revenue 3,606 3,759 (153) –4.1%
EBITDA after lease expense (EBITDAaL)
Switzerland 861 866 (5) –0.6%
Italy 420 398 22 5.6%
Others 19 29 (11) –37.0%
Elimination (12) (16) 4 –26.2%
EBITDAaL 1,288 1,277 10 0.8%
Capital expenditure
Switzerland 382 422 (40) –9.4%
Italy 312 360 (48) –13.4%
Others 9 10 (1) –9.8%
Elimination (10) (12) 3 –22.3%
Capital expenditure 693 780 (86) –11.0%
Operating free cash flow
Switzerland 478 444 34 7.7%
Italy 108 38 71 186.2%
Others 10 20 (10) –50.2%
Elimination (2) (4) 2 –39.3%
Operating free cash flow 594 498 96 19.3%