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|In CHF million||31.3.2018||31.3.2017||Change|
|Other Operating segments||197||187||5.3%|
|Operating income before depreciation and amortisation (EBITDA)|
|Other Operating segments||39||40||–2.5%|
|Reconciliation to pension cost 2||(15)||(20)||–25.0%|
|Operating income before depreciation and amortisation (EBITDA)||1,058||1,073||–1.4%|
1 Since 1 January 2018, Swisscom has applied IFRS 15 “Revenue from Contracts with Customers”. The prior year’s figures have not been adjusted. Without the application of IFRS 15, net revenue would have been CHF 4 million higher (Swisscom Switzerland CHF 1 million and Fastweb CHF 3 million) and EBITDA would have been CHF 20 million higher (Swisscom Switzerland CHF 9 million and Fastweb CHF 11 million) in the first quarter of 2018.
2 Operating income of segments includes ordinary employer contributions as pension fund expense. The difference to the pension cost according to IAS 19 is recognised as a reconciliation item.
|In CHF million, except where indicated||31.3.2018||31.3.2017||Change|
|Net revenue and results|
|Revenue from external customers||2,186||2,227||–1.8%|
|Segment result before depreciation and amortisation (EBITDA)||892||928||–3.9%|
|Margin as % of net revenue||40.4||41.3|
|Depreciation, amortisation and impairment losses||(378)||(367)||3.0%|
|Operational data at end of period in thousand|
|Fixed telephony access lines||1,977||2,297||–13.9%|
|Broadband access lines retail||2,025||1,988||1.9%|
|Swisscom TV access lines||1,492||1,438||3.8%|
|Mobile access lines||6,632||6,601||0.5%|
|Revenue generating units (RGU)||12,126||12,324||–1.6%|
|Unbundled fixed access lines||100||120||–16.7%|
|Broadband access lines wholesale||449||385||16.6%|
|Capital expenditure and headcount|
|Capital expenditure in property, plant and equipment and intangible assets||311||357||–12.9%|
|Full-time equivalent employees at end of period (number)||15,031||15,719||–4.4%|
1 Since 1 January 2018, Swisscom has applied IFRS 15 “Revenue from Contracts with Customers”. The prior year’s figures have not been adjusted. Without the application of IFRS 15, net revenue would have been CHF 1 million higher and EBITDA would have been CHF 9 million higher in the first quarter of 2018.
Segment expense fell by CHF 4 million or 0.3% to CHF 1,314 million, with direct costs increasing and indirect costs decreasing versus the prior year. The rise of CHF 19 million or 4.3% in direct costs to CHF 459 million is due to the higher costs of purchasing merchandise. Indirect costs fell by CHF 23 million or 2.6% to CHF 855 million, driven by the declining headcount and lower costs for external staff. Headcount fell year-on-year as a result of efficiency measuresby 688 FTEs or 4.4% to 15,031, including 126 FTEs in the first quarter of 2018. The segment result before depreciationand amortisation was CHF 36 million or 3.9% lower at CHF 892 million. In spite of the decrease in capital expenditure as a result of delayed investments by CHF 46 million or 12.9% to CHF 311 million, progress continues to be made on expanding the broadband network. At the end of March 2018, Swisscom had connected over 3.95 million households and businesses in Switzerland with ultra-fast broadband (with speeds of more than 50 Mbps), around 2.6 million of which benefit from speeds of more than 100 Mbps.
|In EUR million, except where indicated||31.3.2018||31.3.2017||Change|
|Revenue from external customers||490||451||8.6%|
|Segment result before depreciation and amortisation (EBITDA)||144||145||–0.7%|
|Margin as % of net revenue||29.3||32.0|
|Depreciation, amortisation and impairment losses||(129)||(131)||–1.5%|
|Capital expenditure in property, plant and equipment and intangible assets||159||155||2.6%|
|Full-time equivalent employees at end of period (number)||2,510||2,503||0.3%|
|Broadband access lines in thousand||2,483||2,400||3.5%|
|Mobile access lines in thousand||1,185||763||55.3%|
1 Since 1 January 2018, Swisscom has applied IFRS 15 “Revenue from Contracts with Customers”. The prior year’s figures have not been adjusted. Without the application of IFRS 15, net revenue would have been EUR 3 million higher and EBITDA would have been EUR 8 million higher in the first quarter of 2018.
EBITDA amounted to EUR 144 million (+4.8% on a like-for-like basis). The increase as a result of the higher revenue was partially offset by a non-recurring item resulting from changes to regulatory conditions in the previous year coupled with higher subscriber acquisition costs. The EBITDA margin declined by 1.3 percentage points to 30.7% on a like-for-like basis. The expansion of Italy’s fibre-optic broadband network is continuing as planned. Capital expenditure remains at a high level, totalling EUR 159 million. The increase in capital expenditure versus the prior year of EUR 4 million or 2.6% is attributable to higher customer-driven investments. Fastweb’s headcount was nearly unchanged year-on-year at 2,510 FTEs.
Other Operating Segments
The net revenue of the Other Operating Segments rose year-on-year by CHF 10 million or 5.3% to CHF 197 million. The increase was mainly due to increased production output on the third-party market at cablex and higher revenue from construction services rendered by cablex for Swisscom Switzerland. The segment result before depreciation and amortisation was practically unchanged year-on-year at CHF 39 million (–2.5%). This corresponds to a profit margin of 19.8%. Headcount declined by 52 FTEs to 2,523 FTEs, driven by the sale of foreign Group companies following the restructuring of the portfolio.