Balance sheet
In CHF million, except where indicated | 31.3.2017 | 31.12.2016 | Change | |||
---|---|---|---|---|---|---|
Assets | ||||||
Cash and cash equivalents and current financial assets | 492 | 506 | –2.8% | |||
Trade and other receivables | 2,575 | 2,532 | 1.7% | |||
Property, plant and equipment | 10,209 | 10,177 | 0.3% | |||
Goodwill | 5,154 | 5,156 | –0.0% | |||
Other intangible assets | 1,715 | 1,756 | –2.3% | |||
Investments in associates and non-current financial assets | 461 | 455 | 1.3% | |||
Tax assets | 327 | 299 | 9.4% | |||
Other current and non-current assets | 735 | 573 | 28.3% | |||
Total assets | 21,668 | 21,454 | 1.0% | |||
Liabilities and equity | ||||||
Financial liabilities | 8,323 | 8,496 | –2.0% | |||
Trade and other payables | 1,838 | 1,896 | –3.1% | |||
Defined benefit obligations | 1,818 | 1,850 | –1.7% | |||
Provisions | 941 | 962 | –2.2% | |||
Tax liabilities | 727 | 746 | –2.5% | |||
Other current and non-current liabilities | 1,124 | 982 | 14.5% | |||
Total liabilities | 14,771 | 14,932 | –1.1% | |||
Share of equity attributable to equity holders of Swisscom Ltd | 6,895 | 6,514 | 5.8% | |||
Share of equity attributable to non-controlling interests | 2 | 8 | –75.0% | |||
Total equity | 6,897 | 6,522 | 5.7% | |||
Total liabilities and equity | 21,668 | 21,454 | 1.0% | |||
Equity ratio at end of period (in %) | 31.8 | 30.4 | ||||
Net debt | 7,689 | 7,846 | –2.0% |
Total assets at 31 March 2017 amounted to CHF 21,668 million, which equates to an increase of CHF 214 million or 1.0% versus the end of 2016. The increase is mainly due to the higher other current and non-current assets. Other current and non-current assets increased mainly as a result of higher accruals for prepaid expenses for the 2017 financial year. Equity rose due to the increase in net income by CHF 375 million or 5.7% to CHF 6,897 million, which corresponds to an equity ratio of 31.8% (30.4% as at 31 December 2016). At the end of 2016, the cumulative currency translation losses included in equity remained unchanged at around CHF 1.7 billion.
Net debt comprises financial liabilities less cash and cash equivalents, current financial assets and non-current, fixed-interest-bearing deposits. Swisscom targets a net debt/ EBITDA ratio of around 1.9.