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Quarterly review 2017 and 2018


In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2017
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2018
                                         
Income statement
Net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920   2,884       8,689
Direct costs   (606)   (607)   (698)   (810)   (2,721)   (704)   (692)   (723)       (2,119)
Personnel expense   (753)   (738)   (695)   (816)   (3,002)   (723)   (714)   (661)       (2,098)
Other operating expense   (490)   (517)   (513)   (632)   (2,152)   (503)   (540)   (519)       (1,562)
Capitalised self-constructed assets and other income   91   190   86   141   508   103   111   107       321
Operating income (EBITDA)   1,073   1,187   1,094   941   4,295   1,058   1,085   1,088       3,231
Depreciation and amortisation   (523)   (534)   (531)   (576)   (2,164)   (540)   (540)   (530)       (1,610)
Operating income (EBIT)   550   653   563   365   2,131   518   545   558       1,621
Net interest expense   (36)   (37)   (36)   (40)   (149)   (35)   (35)   (33)       (103)
Other financial result   (13)   (12)   16   (2)   (11)   (6)   6   (3)       (3)
Result of equity-accounted investees   (1)   (2)   (3)   (5)   (11)   (2)   2   3       3
Income before income taxes   500   602   540   318   1,960   475   518   525       1,518
Income tax expense   (127)   (136)   (110)   (19)   (392)   (96)   (110)   (99)       (305)
Net income   373   466   430   299   1,568   379   408   426       1,213
Attributable to equity holders of Swisscom Ltd   373   467   430   300   1,570   381   409   427       1,217
Share attributable to non-controlling interests     (1)     (1)   (2)   (2)   (1)   (1)       (4)
                                         
Earnings per share (in CHF)   7.20   9.02   8.30   5.79   30.31   7.36   7.90   8.24       23.49
                                       
                                         
Net revenue
Swisscom Switzerland   2,246   2,241   2,250   2,321   9,058   2,206   2,194   2,191       6,591
Fastweb   484   511   556   613   2,164   574   606   577       1,757
Other Operating segments   187   210   215   238   850   197   228   229       654
Group Headquarters     1   1   (1)   1     1         1
Intersegment elimination   (86)   (104)   (108)   (113)   (411)   (92)   (109)   (113)       (314)
Total net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920   2,884       8,689
         
                                         
Segment result before depreciation and amortisation (EBITDA)
Swisscom Switzerland   928   924   909   739   3,500   892   894   875       2,661
Fastweb   155   279   194   217   845   167   195   198       560
Other Operating segments   40   40   49   51   180   39   47   53       139
Group Headquarters   (26)   (21)   (24)   (40)   (111)   (22)   (31)   (20)       (73)
Reconciliation to pension cost   (20)   (27)   (28)   (17)   (92)   (15)   (14)   (17)       (46)
Intersegment elimination   (4)   (8)   (6)   (9)   (27)   (3)   (6)   (1)       (10)
Total segment result (EBITDA)   1,073   1,187   1,094   941   4,295   1,058   1,085   1,088       3,231
         
                                         
Capital expenditure in property, plant and equipment and intangible assets
Swisscom Switzerland   357   362   364   571   1,654   311   400   391       1,102
Fastweb   165   161   158   208   692   185   162   154       501
Other Operating segments   11   13   15   19   58   8   11   12       31
Intersegment elimination   (4)   (8)   (7)   (7)   (26)   (3)   (5)   (5)       (13)
Total capital expenditure   529   528   530   791   2,378   501   568   552       1,621
         
                                         
Full-time equivalent employees at end of period
Swisscom Switzerland   15,719   15,420   15,307   15,157   15,157   15,031   14,587   14,550       14,550
Fastweb   2,503   2,494   2,509   2,504   2,504   2,510   2,483   2,470       2,470
Other Operating segments   2,575   2,585   2,617   2,580   2,580   2,523   2,563   2,587       2,587
Group Headquarters   282   276   271   265   265   262   262   243       243
Total full-time equivalent employees   21,079   20,775   20,704   20,506   20,506   20,326   19,895   19,850       19,850
                                         
Operating free cash flow   463   549   660   487   2,159   359   392   564       1,315
Net debt   7,689   8,441   7,868   7,447   7,447   7,294   8,146   7,641       7,641

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2017
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2018
                                         
Swisscom Switzerland Revenue and results
Retail Customers   673   677   688   664   2,702   655   659   662       1,976
Enterprise Customers   121   122   122   119   484   113   118   114       345
Revenue mobile   794   799   810   783   3,186   768   777   776       2,321
Retail Customers   680   667   654   661   2,662   643   645   642       1,930
Enterprise Customers   142   140   136   137   555   131   134   128       393
Revenue fixed-line   822   807   790   798   3,217   774   779   770       2,323
Other revenue Enterprise Customers   16   15   15   15   61   16   15   14       45
Total revenue telecoms services   1,632   1,621   1,615   1,596   6,464   1,558   1,571   1,560       4,689
Solution business   261   271   264   288   1,084   268   252   248       768
Merchandise   147   145   142   214   648   170   163   171       504
Wholesale   138   135   157   148   578   141   145   148       434
Other revenue   49   50   49   55   203   49   43   45       137
Revenue from external customers   2,227   2,222   2,227   2,301   8,977   2,186   2,174   2,172       6,532
                                         
Retail Customers   1,497   1,481   1,478   1,515   5,971   1,456   1,448   1,457       4,361
Enterprise Customers   586   599   586   631   2,402   584   576   562       1,722
Wholesale   138   135   157   148   578   141   145   148       434
IT, Network & Infrastructure   6   7   6   7   26   5   5   5       15
Revenue from external customers   2,227   2,222   2,227   2,301   8,977   2,186   2,174   2,172       6,532
         
                                         
Segment result before depreciation and amortisation (EBITDA)
Retail Customers   923   903   863   793   3,482   880   860   852       2,592
Enterprise Customers   199   212   212   199   822   194   192   195       581
Wholesale   104   103   123   116   446   109   114   119       342
IT, Network & Infrastructure   (298)   (294)   (288)   (370)   (1,250)   (290)   (273)   (291)       (854)
Intersegment elimination       (1)   1     (1)   1        
Segment result (EBITDA)   928   924   909   739   3,500   892   894   875       2,661
Margin as % of net revenue   41.3   41.2   40.4   31.8   38.6   40.4   40.7   39.9       40.4
         
                                         
Fastweb, in EUR million
Residential Customers   232   238   253   263   986   257   264   264       785
Corporate Business   168   173   177   192   710   180   188   190       558
Wholesale   51   57   58   74   240   53   66   49       168
Revenue from external customers   451   468   488   529   1,936   490   518   503       1,511
Segment result (EBITDA)   145   258   170   186   759   144   166   173       483
Margin as % of net revenue   32.0   54.9   34.6   35.1   39.0   29.3   32.0   34.3       31.9
                                         
Capital expenditure in property, plant and equipment and intangible assets   155   147   139   181   622   159   138   135       432
Broadband access lines in thousand   2,400   2,411   2,421   2,451   2,451   2,483   2,500   2,518       2,518
Mobile access lines in thousand   763   880   989   1,065   1,065   1,185   1,280   1,324       1,324
    1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2017
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2018
                                         
Swisscom Switzerland Operational data in thousand
Access lines
Retail Customers   2,063   1,982   1,911   1,840   1,840   1,779   1,730   1,684       1,684
Enterprise Customers   234   226   217   207   207   198   176   162       162
Fixed telephony access lines   2,297   2,208   2,128   2,047   2,047   1,977   1,906   1,846       1,846
                                         
Retail Customers   1,950   1,951   1,962   1,976   1,976   1,988   1,991   1,993       1,993
Enterprise Customers   38   38   38   38   38   37   37   37       37
Broadband access lines retail   1,988   1,989   2,000   2,014   2,014   2,025   2,028   2,030       2,030
                                         
Retail Customers   1,438   1,447   1,453   1,467   1,467   1,492   1,501   1,510       1,510
Swisscom TV access lines   1,438   1,447   1,453   1,467   1,467   1,492   1,501   1,510       1,510
                                         
Postpaid Retail Customers   3,306   3,315   3,334   3,375   3,375   3,381   3,379   3,385       3,385
Postpaid Enterprise Customers   1,256   1,260   1,268   1,267   1,267   1,265   1,270   1,283       1,283
Postpaid mobile acces lines   4,562   4,575   4,602   4,642   4,642   4,646   4,649   4,668       4,668
Prepaid Retail Customers   2,039   2,018   1,980   1,995   1,995   1,986   1,966   1,922       1,922
Mobile access lines   6,601   6,593   6,582   6,637   6,637   6,632   6,615   6,590       6,590
                                         
RGU Retail Customers   10,796   10,713   10,640   10,653   10,653   10,626   10,567   10,494       10,494
RGU Enterprise Customers   1,528   1,524   1,523   1,512   1,512   1,500   1,483   1,482       1,482
Revenue generating units (RGU)   12,324   12,237   12,163   12,165   12,165   12,126   12,050   11,976       11,976
                                         
Broadband access lines wholesale   385   402   419   435   435   449   462   472       472
Unbundled fixed access lines   120   116   114   107   107   100   95   91       91
                                         
Swisscom Group Information by geographical regions in CHF million
Net revenue in Switzerland   2,343   2,343   2,352   2,438   9,476   2,308   2,310   2,305       6,923
Net revenue in other countries   488   516   562   620   2,186   577   610   579       1,766
Total net revenue   2,831   2,859   2,914   3,058   11,662   2,885   2,920   2,884       8,689
                                         
EBITDA in Switzerland   917   905   898   731   3,451   889   891   887       2,667
EBITDA in other countries   156   282   196   210   844   169   194   201       564
Total EBITDA   1,073   1,187   1,094   941   4,295   1,058   1,085   1,088       3,231
                                         
Capital expenditure in Switzerland   362   366   369   581   1,678   315   406   398       1,119
Capital expenditure in other countries   167   162   161   210   700   186   162   154       502
Total capital expenditure   529   528   530   791   2,378   501   568   552       1,621
                                         
Full-time equivalent employees in Switzerland   18,280   17,974   17,877   17,688   17,688   17,611   17,203   17,165       17,165
Full-time equivalent employees in other countries   2,799   2,801   2,827   2,818   2,818   2,715   2,692   2,685       2,685
Total full-time equivalent employees   21,079   20,775   20,704   20,506   20,506   20,326   19,895   19,850       19,850