Outlook

Swisscom continues to expect EBITDA of around CHF 4.3 bil­lion and capital expenditure of around CHF 2.3 bil­lion for 2020. Mainly as a result of Covid-19, Swisscom expects net revenue to be slightly lower at around CHF 11.0 bil­lion (previously around CHF 11.1 bil­lion) due to the smaller roaming volume. If business develops as planned, Swisscom will propose to the 2021 Annual General Meeting that the dividend for the 2020 financial year remain unchanged at CHF 22 per share.

Due to strong competition and price pressure and the ongoing decline in the number of fixed-line telephone connections, Swisscom expects revenue to be lower without Fastweb. As a result of Covid-19 slightly lower revenue is also expected due to the smaller roaming volume. Fastweb’s revenue is expected to increase slightly from 2019. For Swisscom without Fastweb, the decline in revenue cannot be fully offset by cost savings; EBITDA is expected to decline on an adjusted basis. In contrast, an increase in EBITDA is anticipated for Fastweb. Capital expenditure in Switzerland, excluding costs for acquiring additional mobile radio frequencies at auction, will be slightly less than in the previous year. Capital expenditure at Fastweb is expected to be lower.