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3rd Interim Report 2017
3rd Interim Report 2017
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3rd Interim Report 2017
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Balance sheet

In CHF million, except where indicated   30.09.2017   31.12.2016   Change
             
Assets
Cash and cash equivalents and current financial assets   414   506   –18.2%
Trade and other receivables   2,580   2,532   1.9%
Property, plant and equipment   10,405   10,177   2.2%
Goodwill   5,195   5,156   0.8%
Other intangible assets   1,732   1,756   –1.4%
Investments in associates and non-current financial assets   446   455   –2.0%
Tax assets   245   299   –18.1%
Other current and non-current assets   622   573   8.6%
Total assets   21,639   21,454   0.9%
             
Liabilities and equity
Financial liabilities   8,419   8,496   –0.9%
Trade and other payables   1,893   1,896   –0.2%
Defined benefit obligations   1,297   1,850   –29.9%
Provisions   913   962   –5.1%
Tax liabilities   936   746   25.5%
Other current and non-current liabilities   1,033   982   5.2%
Total liabilities   14,491   14,932   –3.0%
Share of equity attributable to equity holders of Swisscom Ltd   7,158   6,514   9.9%
Share of equity attributable to non-controlling interests   (10)   8   –225.0%
Total equity   7,148   6,522   9.6%
Total liabilities and equity   21,639   21,454   0.9%
Equity ratio at end of period   33.0%   30.4%    
             
Net debt   7,868   7,846   0.3%

Total assets at 30 September 2017 amounted to CHF 21,639 million, which equates to an increase of CHF 185 million or 0.9% versus the end of 2016. The increase is mainly due to the higher property, plant and equipment. Defined benefit obligations decreased by CHF 553 million to CHF 1,297 million, mainly due to income from plan assets and the higher discount rate. Equity rose by CHF 626 million to CHF 7,148 million, which corresponds to an equity ratio of 33.0% (30.4% as at 31 December 2016). The dividend payment amounted to CHF 1,140 million, compared to net income of CHF 1,269 million and other net positive effects recognised in equity of CHF 550 million. Compared to 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.