Net asset position
| In CHF million, except where indicated | 31.03.2022 | 31.12.2021 | Change | |||
|---|---|---|---|---|---|---|
| In CHF million, except where indicatedProperty, plant and equipment | 31.03.202210,674 | 31.12.202110,771 | Change–0.9% | |||
| In CHF million, except where indicatedIntangible assets | 31.03.20221,730 | 31.12.20211,714 | Change0.9% | |||
| In CHF million, except where indicatedGoodwill | 31.03.20225,189 | 31.12.20215,157 | Change0.6% | |||
| In CHF million, except where indicatedRight-of-use assets | 31.03.20222,118 | 31.12.20212,134 | Change–0.7% | |||
| In CHF million, except where indicatedTrade receivables | 31.03.20222,257 | 31.12.20212,315 | Change–2.5% | |||
| In CHF million, except where indicatedReceivables from finance leases | 31.03.2022111 | 31.12.202199 | Change12.1% | |||
| In CHF million, except where indicatedTrade payables | 31.03.2022(1,554) | 31.12.2021(1,600) | Change–2.9% | |||
| In CHF million, except where indicatedProvisions | 31.03.2022(1,031) | 31.12.2021(1,149) | Change–10.3% | |||
| In CHF million, except where indicatedDeferred gain on sale and leaseback of real estate | 31.03.2022(94) | 31.12.2021(95) | Change–1.1% | |||
| In CHF million, except where indicatedOther operating assets and liabilities, net | 31.03.2022(185) | 31.12.2021(438) | Change–57.8% | |||
| In CHF million, except where indicatedNet operating assets | 31.03.202219,215 | 31.12.202118,908 | Change1.6% | |||
| In CHF million, except where indicatedNet debt | 31.03.2022(7,680) | 31.12.2021(7,706) | Change–0.3% | |||
| In CHF million, except where indicatedDefined benefit obligations | 31.03.2022(10) | 31.12.2021(13) | Change–23.1% | |||
| In CHF million, except where indicatedIncome tax assets and liabilities, net | 31.03.2022(760) | 31.12.2021(835) | Change–9.0% | |||
| In CHF million, except where indicatedEquity-accounted investees and other non-current financial assets | 31.03.2022495 | 31.12.2021459 | Change7.8% | |||
| In CHF million, except where indicatedEquity | 31.03.202211,260 | 31.12.202110,813 | Change4.1% | |||
| In CHF million, except where indicated | 31.03.2022 | 31.12.2021 | Change | |||
| In CHF million, except where indicatedEquity ratio in % | 31.03.202245.2 | 31.12.202143.6 | Change |
Net operating assets were up slightly compared with year-end 2021 at CHF 19,215 million (+1.6%). The increase in equity by 4.1% or CHF 447 million to CHF 11,260 million corresponds to net income for the first quarter of 2022. The equity ratio rose by 43.6% to 45.2% versus the end of 2021.
On 31 March 2022, the Annual General Meeting of Swisscom AG approved the payment of an unchanged gross dividend of CHF 22 per share. A total dividend amount of CHF 1,140 million was paid out on 5 April 2022.
Net debt
Net debt comprises financial liabilities and lease liabilities less cash and cash equivalents, listed debt instruments, derivative financial instruments held for hedging financial liabilities and other current financial assets.
| In CHF million | 31.03.2022 | 31.12.2021 | ||
|---|---|---|---|---|
| In CHF millionDebenture bonds | 31.03.20225,525 | 31.12.20215,564 | ||
| In CHF millionBank loans | 31.03.2022484 | 31.12.2021488 | ||
| In CHF millionPrivate placements | 31.03.2022150 | 31.12.2021151 | ||
| In CHF millionOther financial liabilities | 31.03.2022219 | 31.12.2021242 | ||
| In CHF millionTotal financial liabilities | 31.03.20226,378 | 31.12.20216,445 | ||
| In CHF millionCash and cash equivalents | 31.03.2022(333) | 31.12.2021(401) | ||
| In CHF millionListed debt instruments | 31.03.2022(283) | 31.12.2021(278) | ||
| In CHF millionDerivative financial instruments for financing | 31.03.2022(5) | 31.12.2021(19) | ||
| In CHF millionOther current financial assets | 31.03.2022(62) | 31.12.2021(58) | ||
| In CHF millionNet debt excl. lease liabilities | 31.03.20225,695 | 31.12.20215,689 | ||
| In CHF millionLease liabilities | 31.03.20221,985 | 31.12.20212,017 | ||
| In CHF millionNet debt | 31.03.20227,680 | 31.12.20217,706 |
In recent years, Swisscom has taken advantage of favourable capital market conditions with a view to optimising the interest and maturity structure of the Group’s financial liabilities. As at 31 March 2022, the average interest expense on financial liabilities was 0.9%, the average residual term to maturity was 5.9 years, and the share of fixed-interest-bearing financial liabilities was 88%. Swisscom also has two lines of credit totalling CHF 2.2 billion, which have not been used.