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

KPIs segments

In CHF million H1 2026 H1 2025 Change in %
Revenue
Switzerland 3,870 3,897 (27) –0.7%
Italy 3,190 3,380 (190) –5.6%
Others 464 527 (63) –12.0%
Elimination (304) (359) 55 –15.3%
Revenue 7,221 7,446 (225) –3.0%
EBITDA after lease expense (EBITDAaL)
Switzerland 1,700 1,687 13 0.8%
Italy 838 760 78 10.2%
Others 45 60 (15) –25.7%
Elimination (25) (33) 8 –23.4%
EBITDAaL 2,557 2,474 83 3.3%
Capital expenditure
Switzerland 761 831 (70) –8.4%
Italy 598 661 (63) –9.6%
Others 16 18 (3) –14.8%
Elimination (20) (25) 5 –19.9%
Capital expenditure 1,355 1,486 (131) –8.8%
Operating free cash flow
Switzerland 938 856 83 9.7%
Italy 240 99 141 142.3%
Others 29 42 (13) –30.5%
Elimination (5) (8) 3 –35.0%
Operating free cash flow 1,202 989 214 21.6%