Key figures

In CHF million, except where indicated		31.3.2019¹	31.3.2018	Change

Revenue and results
Net revenue		2,860	2,885	–0.9%
Operating income before depreciation and amortisation (EBITDA)²		1,119	1,058	5.8%
EBITDA as % of net revenue	%	39.1	36.7
Operating income (EBIT)³		505	518	–2.5%
Net income		383	379	1.1%
Earnings per share	CHF	7.43	7.36	1.0%

Balance sheet and cash flows
Equity at end of period		8,390	8,399	–0.1%
Equity ratio at end of period^{1, 4}	%	34.8	36.8
Operating free cash flow proxy⁵		533	557	–4.3%
Capital expenditure in property, plant and equipment and intangible assets		518	501	3.4%
Net debt at end of period^{1, 6}		8,455	7,294	15.9%

Operational data at end of period
Fixed telephony access lines in Switzerland	in thousand	1,737	1,977	–12.1%
Broadband access lines retail in Switzerland	in thousand	2,030	2,025	0.2%
Swisscom TV access lines in Switzerland	in thousand	1,523	1,492	2.1%
Mobile access lines in Switzerland	in thousand	6,378	6,451	–1.1%
Revenue generating units (RGU) in Switzerland⁷	in thousand	11,668	11,945	–2.3%
Unbundled fixed access lines in Switzerland	in thousand	83	100	–17.0%
Broadband access lines wholesale in Switzerland	in thousand	492	449	9.6%
Broadband access lines in Italy	in thousand	2,575	2,483	3.7%
Mobile acces lines in Italy	in thousand	1,517	1,185	28.0%

Swisscom share
Number of shares issued at end of period	in thousand	51,802	51,802	–
Market capitalisation at end of period⁸		25,228	24,533	2.8%
Closing price at end of period	CHF	487.00	473.60	2.8%

Employees
Full-time equivalent employees at end of period	number	19,719	20,326	–3.0%
Average number of full-time equivalent employees	number	19,715	20,435	–3.5%

¹ Swisscom has been applying IFRS 16 “Leases” since 1 January 2019. The prior year's figures have not been adjusted. As a consequence of the first-time application of IFRS 16, additional lease liabilities and right-of-use assets of CHF 1,319 million were reported with effect from 1 January 2019. As a result, the equity ratio fell to 34.2% as at 1 January 2019.
² Definition operating income before depreciation and amortisation (EBITDA): operating income before depreciation and amortisation of property, plant and equipment, intangible assets and of right-of-use assets, gain on sale of subsidiaries, net financial result, share of results of equity-accounted investees and income tax expense. The EBITDA of the previous year includes expenses of CHF 52 million from operating leases in accordance with IAS 17.
³ Definition operating income (EBIT): operating income before gain on sale of subsidiaries, net financial result, share of results of equity- accounted investees and income tax expense.
⁴ Equity as a percentage of total assets.
⁵ Definition operating free cash flow proxy: operating income before depreciation and amortisation (EBITDA), less lease expense according to IFRS 16 and capital expenditure in property, plant and equipment and intangible assets.
⁶ Definition net debt: financial liabilities and lease liabilities less cash and cash equivalents, current financial assets, non-current fixed interest-bearing financial assets and derivative financial instruments for financing received.
⁷ Definition revenue generating units (RGU) in Switzerland: fixed telephony access lines, broadband access lines retail, Swisscom TV access lines and mobile access lines.
⁸ Closing price at end of period, multiplied by number of shares outstanding at end of period.