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Capital expenditure
In CHF million, except where indicated | 2019 | 2018 | Change | |||
---|---|---|---|---|---|---|
Fixed access and infrastructure | 459 | 496 | –7.5% | |||
Expansion of the fibre-optic network | 494 | 490 | 0.8% | |||
Mobile network | 270 | 307 | –12.1% | |||
Mobile frequencies | 196 | – | ||||
Customer driven | 81 | 77 | 5.2% | |||
Projects and others | 261 | 250 | 4.4% | |||
Swisscom Switzerland | 1,761 | 1,620 | 8.7% | |||
Fastweb | 667 | 757 | –11.9% | |||
Other Operating Segments | 47 | 46 | 2.2% | |||
Group Headquarters and eliminations | (37) | (19) | 94.7% | |||
Total capital expenditure | 2,438 | 2,404 | 1.4% | |||
Thereof Switzerland | 1,770 | 1,645 | 7.6% | |||
Thereof foreign countries | 668 | 759 | –12.0% | |||
Total capital expenditure as % of net revenue | 21.3 | 20.5 |
Capital expenditure rose year-on-year by CHF 34 million or 1.4% to CHF 2,438 million, corresponding to 21.3% of net revenue (prior year: 20.5%). Swisscom Switzerland accounted for 72% of 2019 capital expenditure, while Fastweb accounted for 27% and Other Operating Segments for 1%.
Capital expenditure incurred by Swisscom Switzerland increased year-on-year by CHF 141 million or 8.7% to CHF 1,761 million, corresponding to 20.6% of net revenue (prior year: 18.4%) and included expenditure of CHF 196 million in connection with the mobile radio frequencies acquired auction in the first half of 2019. Capital expenditure on broadband expansion with fibre optics remained stable at a high level, while capital expenditure on mobile communications and other fixed network and infrastructure declined.
Fastweb decreased its capital expenditure by CHF 90 million or 11.9% to CHF 667 million. In local currency, capital expenditure decreased by EUR 58 million or 8.8% to EUR 599 million. The decrease is mainly due to the expenses for the acquisition and extension of mobile radio frequencies in the amount of EUR 64 million in the previous year. The investment volume remains at a high level overall, driven by the further expansion of the broadband networks. The ratio of capital expenditure to net revenue fell as a result to 27.0% (prior year: 31.2%).