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Table of contents for the 2nd Interim Report 2021 report

2nd Interim Report 2021
KPIsFinancial review
SummarySegment resultsDepreciation and amortisation, non operating resultsCash flowsNet asset positionOutlook
Consolidated interim financial statements
Consolidated statement of comprehensive income (unaudited)Consolidated balance sheet (unaudited)Consolidated statement of cash flows (unaudited)Consolidated statement of changes in equity (unaudited)
Notes to the interim financial statements
About this report1 Changes in accounting principles2 Segment information3 Operating costs4 Dividends5 Financial liabilities6 Financial result7 Operating net working capital8 Provisions and contingent liabilities9 Post employment benefits
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2020 and 2021Forward looking statements
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6 Financial result

In CHF million   1.1.–30.6.2021   1.1.–30.6.2020
Interest income on financial assets   1   4
Change in fair value of interest rate swaps   18   –
Gain from transactions with equity-accounted investees   207   –
Foreign exchange gains   16   4
Other financial income   16   2
Total financial income   258   10
Interest expense on financial liabilities   (34)   (34)
Interest expense on lease liabilities   (22)   (22)
Interest expense on net defined benefit liabilities   (1)   (1)
Present-value adjustments on provisions   (27)   (34)
Change in fair value of interest rate swaps   –   (13)
Other financial expense   (12)   (10)
Total financial expense   (96)   (114)
Financial income and financial expense, net   162   (104)
     
Interest expense on lease liabilities   (22)   (22)
Net interest expense on financial assets and liabilities   (33)   (30)

As part of its strategic partnership with TIM, Fastweb transferred its stake in Flash Fiber as a capital contribution to the newly established fibre-optic company FiberCop. For contributing its 20% stake to Flash Fiber, Fastweb has received a 4.5% stake in FiberCop. The transaction was completed in March 2021. The fair value of the FiberCop investment is EUR 210 million (CHF 232 million). The transaction resulted in a gain on the Flash Fiber participation of CHF 169 million, which was recognised in the income statement in the first quarter of 2021. In addition, in the first quarter of 2021, Swisscom sold its holding in Belgacom International Carrier Services (BICS) for a sale price of EUR 115 million (CHF 126 million). Swisscom realised a gain of CHF 38 million from the sale of BICS.