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Annual Report 2019
Annual Report 2019
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Con­sol­i­dated statement of com­pre­hen­sive income

In CHF million, except for per share amounts   Note   2019   2018
             
Income statement
Net revenue   1.1    11,453   11,714
Direct costs   1.2    (2,815)   (2,954)
Personnel expense   1.2, 4.1    (2,800)   (2,815)
Other operating expense   1.2    (1,989)   (2,193)
Capitalised self-constructed assets and other income   1.2    509   461
Operating income before de­pre­ci­a­tion and amor­ti­sa­tion       4,358   4,213
De­pre­ci­a­tion and amor­ti­sa­tion of property, plant and equipment and intangible assets   3.2, 3.3    (2,166)   (2,144)
De­pre­ci­a­tion of right-of-use assets   2.3    (282)   –
Operating income       1,910   2,069
Financial income   2.4    33   28
Financial expense   2.4    (191)   (186)
Result of equity-accounted investees   5.3    (28)   5
Income before income taxes       1,724   1,916
Income tax expense   6.1    (55)   (395)
Net income       1,669   1,521
     
             
Other com­pre­hen­sive income
Actuarial gains and losses from defined benefit pension plans   2.1    146   (62)
Change in fair value of equity instruments   2.1    2   9
Items that will not be reclassified to income statement       148   (53)
Foreign currency translation adjustments of foreign sub­sidiaries   2.1    (55)   (40)
Change in cash flow hedges   2.1    7   6
Other com­pre­hen­sive income from equity-accounted investees   2.1    2   1
Items that may be reclassified to income statement       (46)   (33)
Other com­pre­hen­sive income       102   (86)
     
             
Com­pre­hen­sive income
Net income       1,669   1,521
Other com­pre­hen­sive income       102   (86)
Com­pre­hen­sive income       1,771   1,435
     
             
Share of net income and com­pre­hen­sive income
Equity holders of Swisscom Ltd       1,672   1,527
Non-controlling interests       (3)   (6)
Net income       1,669   1,521
             
Equity holders of Swisscom Ltd       1,774   1,441
Non-controlling interests       (3)   (6)
Com­pre­hen­sive income       1,771   1,435
     
             
Earnings per share
Basic and diluted earnings per share (in CHF)   2.1    32.28   29.48