Table of contents for the 2nd 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

Depreciation and amortisation, non-operating results

In CHF million, except where indicated H1 2026 H1 2025 Change in %
EBITDA after lease expense (EBITDAaL) 2,557 2,474 83 3.3%
Lease expense 796 816 (20) –2.4%
EBITDA 3,353 3,290 63 1.9%
Depreciation and amortisation of property, plant and equipment and intangible assets (1,584) (1,563) (21) 1.3%
Depreciation of right-of-use assets (769) (781) 12 –1.6%
Operating income (EBIT) 1,000 946 55 5.8%
Net interest expense on financial assets and liabilities (110) (115) 5 –4.1%
Interest expense on lease liabilities (49) (56) 7 –13.0%
Other financial result (23) (9) (14) 155.3%
Income before income taxes 818 766 53 6.9%
Income tax expense (150) (141) (9) 6.6%
Net income 668 625 43 6.9%
Earnings per share (in CHF) 12.92 12.08 0.84 6.9%

Net income increased by CHF 43 million or 6.9% to CHF 668 million, mainly due to the higher operating income. Income tax expense amounted to CHF 150 million (prior year: CHF 141 million), which corresponds to an effective income tax rate of 18.3% (prior year: 18.4%).