Menu

1st Interim Report 2022
1st Interim Report 2022
Open report

Language

Leave

Report switcher allows selecting another report from a different reporting period

1st Interim Report 2022
  • 1st Interim Report 2025
  • Sustainability Impact Report 2024
  • Annual Report 2024
  • 3rd Interim Report 2024
  • 2nd Interim Report 2024
  • 1st Interim Report 2024
  • Annual Report 2023
  • 3rd Interim Report 2023
  • 2nd Interim Report 2023
  • 1st Interim Report 2023
  • Annual Report 2022
  • 3rd Interim Report 2022
  • 2nd Interim Report 2022
  • 1st Interim Report 2022
  • Annual Report 2021
  • 3rd Interim Report 2021
  • 2nd Interim Report 2021
  • 1st Interim Report 2021
  • Annual Report 2020
  • 3rd Interim Report 2020
  • 2nd Interim Report 2020
  • 1st Interim Report 2020
  • Annual Report 2019
  • 3rd Interim Report 2019
  • 2nd Interim Report 2019
  • 1st Interim Report 2019
  • Index
  • Search

Table of contents for the 1st Interim Report 2022 report

1st Interim Report 2022
KPIsBusiness performance
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 Net current operating assets8 Provisions and contingent liabilities
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2021 and 2022Forward looking statements
We found 0 search results

No search results. Please enter a different search term.

Segment results

In CHF million   31.03.2022   31.03.2021   Change
In CHF million     31.03.2022     31.03.2021     Change 
In CHF millionNet revenue 1
In CHF millionResidential Customers    31.03.20221,131    31.03.20211,137    Change–0.5%
In CHF millionBusiness Customers    31.03.2022791    31.03.2021771    Change2.6%
In CHF millionWholesale    31.03.2022147    31.03.2021171    Change–14.0%
In CHF millionInfrastructure & Support Functions    31.03.202218    31.03.202119    Change–5.3%
In CHF millionIntersegment elimination    31.03.2022(17)    31.03.2021(18)    Change–5.6%
In CHF millionSwisscom Switzerland    31.03.20222,070    31.03.20212,080    Change–0.5%
In CHF millionFastweb    31.03.2022615    31.03.2021634    Change–3.0%
In CHF millionOther Operating Segments    31.03.2022241    31.03.2021240    Change0.4%
In CHF millionIntersegment elimination    31.03.2022(158)    31.03.2021(151)    Change4.6%
In CHF millionRevenue from external customers    31.03.20222,768    31.03.20212,803    Change–1.2%
In CHF million     31.03.2022     31.03.2021     Change 
In CHF millionOperating income before depreciation and amortisation (EBITDA) 1
In CHF millionResidential Customers    31.03.2022745    31.03.2021728    Change2.3%
In CHF millionBusiness Customers    31.03.2022353    31.03.2021360    Change–1.9%
In CHF millionWholesale    31.03.202281    31.03.202189    Change–9.0%
In CHF millionInfrastructure & Support Functions    31.03.2022(249)    31.03.2021(261)    Change–4.6%
In CHF millionSwisscom Switzerland    31.03.2022930    31.03.2021916    Change1.5%
In CHF millionFastweb    31.03.2022191    31.03.2021195    Change–2.1%
In CHF millionOther Operating Segments    31.03.202242    31.03.202134    Change23.5%
In CHF millionReconciliation pension cost 2    31.03.2022(15)    31.03.2021(13)    Change15.4%
In CHF millionIntersegment elimination    31.03.2022(11)    31.03.2021(8)    Change37.5%
In CHF millionOperating income before depreciation and amortisation (EBITDA)    31.03.20221,137    31.03.20211,124    Change1.2%
In CHF million
1 Swisscom has made adjustments to its financial management as of 1 January 2022 and has restated the previous year's figures accordingly. For further information, see note 2 to the interim financial statements.
In CHF million
2 Operating income of segments includes ordinary employer contributions as pension fund expense. The difference to the pension cost according to IAS 19 is recognised as a reconciliation item.

Swisscom’s reporting focuses on the operating divisions Swisscom Switzerland and Fastweb. The other business divisions are grouped together under Other Operating Segments. Swisscom Switzerland comprises the customer segments Residential Customers, Business Customers and Wholesale, along with the Infrastructure & Support Functions business division. Fastweb is a telecommunications provider for residential and business customers in Italy. Other Operating Segments primarily comprises the Digital Business division, Swisscom Broadcast Ltd (radio transmitters) and cablex Ltd (network construction and maintenance).

The Infrastructure & Support Functions business division does not charge any network costs or management fees for its services to other segments. Any other services between the segments are charged at market prices. Network costs in Switzerland are budgeted, monitored and controlled by the Infrastructure & Support Functions segment, which is managed as a cost centre. For this reason, no revenue is credited to the Infrastructure & Support Functions segment within the segment reporting, with the exception of the rental and administration of buildings and vehicles. The results of the Residential Customers, Business Customers and Wholesale segments thus correspond to a contribution margin before network costs.

Swisscom Switzerland

In CHF million, except where indicated   31.03.2022   31.03.2021   Change
In CHF million, except where indicated     31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedNet revenue and results    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedTelecom services    31.03.20221,365    31.03.20211,390    Change–1.8%
In CHF million, except where indicatedSolutions business    31.03.2022297    31.03.2021273    Change8.8%
In CHF million, except where indicatedMerchandise    31.03.2022214    31.03.2021211    Change1.4%
In CHF million, except where indicatedWholesale    31.03.2022144    31.03.2021169    Change–14.8%
In CHF million, except where indicatedRevenue other    31.03.202235    31.03.202124    Change45.8%
In CHF million, except where indicatedRevenue from external customers    31.03.20222,055    31.03.20212,067    Change–0.6%
In CHF million, except where indicatedIntersegment revenue    31.03.202215    31.03.202113    Change15.4%
In CHF million, except where indicatedNet revenue    31.03.20222,070    31.03.20212,080    Change–0.5%
In CHF million, except where indicatedDirect costs    31.03.2022(434)    31.03.2021(447)    Change–2.9%
In CHF million, except where indicatedIndirect costs    31.03.2022(706)    31.03.2021(717)    Change–1.5%
In CHF million, except where indicatedSegment expenses    31.03.2022(1,140)    31.03.2021(1,164)    Change–2.1%
In CHF million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.2022930    31.03.2021916    Change1.5%
In CHF million, except where indicatedMargin as % of net revenue    31.03.202244.9    31.03.202144.0    Change 
In CHF million, except where indicatedLease expense    31.03.2022(56)    31.03.2021(58)    Change–3.4%
In CHF million, except where indicatedDepreciation and amortisation    31.03.2022(368)    31.03.2021(374)    Change–1.6%
In CHF million, except where indicatedSegment result    31.03.2022506    31.03.2021484    Change4.5%
In CHF million, except where indicated     31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedOperating free cash flow proxy    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.2022930    31.03.2021916    Change1.5%
In CHF million, except where indicatedLease expense    31.03.2022(56)    31.03.2021(58)    Change–3.4%
In CHF million, except where indicatedEBITDA after lease expense (EBITDA AL)    31.03.2022874    31.03.2021858    Change1.9%
In CHF million, except where indicatedCapital expenditure    31.03.2022(364)    31.03.2021(371)    Change–1.9%
In CHF million, except where indicatedOperating free cash flow proxy    31.03.2022510    31.03.2021487    Change4.7%
In CHF million, except where indicated     31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedOperational data in thousand and headcount    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedFixed telephony access lines    31.03.20221,399    31.03.20211,491    Change–6.2%
In CHF million, except where indicatedBroadband access lines retail    31.03.20222,030    31.03.20212,028    Change0.1%
In CHF million, except where indicatedTV access lines    31.03.20221,586    31.03.20211,581    Change0.3%
In CHF million, except where indicatedMobile access lines    31.03.20226,151    31.03.20216,177    Change–0.4%
In CHF million, except where indicatedRevenue generating units (RGU)    31.03.202211,166    31.03.202111,277    Change–1.0%
In CHF million, except where indicatedAccess lines wholesale    31.03.2022703    31.03.2021677    Change3.8%
In CHF million, except where indicatedFull-time equivalent employees    31.03.202212,999    31.03.202112,830    Change1.3%

Swisscom Switzerland’s net revenue fell by 0.5% or CHF 10 million to CHF 2,070 million. Ongoing competitive and price pressure continued to drive down revenue from telecoms services, which decreased by 1.8% or CHF 25 million to CHF 1,365 million. Of this decline, CHF 4 million (–0.4%) was attributable to the Residential Customers segment and CHF 21 million (–5.0%) to the Business Customers segment. By contrast, revenue from the solutions business rose by 8.8% or CHF 24 million to CHF 297 million. Part of this increase is attributable to the acquisition of the MTF Group companies operating in German-speaking Switzerland and the Principality of Liechtenstein. The decline in Wholesale revenue is partially attributable to the loss of revenue where there is no longer any demand from UPC following the acquisition of Sunrise, and partially attributable to a price-related decline in inbound roaming revenue. The market is still showing signs of saturation and competitive pressure in the area of mobile communications and fixed-network services. The subscriber base in mobile communications shrank by 0.4% or 26,000 year-on-year to 6.15 million. The number of postpaid lines increased by 162,000 year-on-year, while the number of prepaid lines decreased by 188,000. The number of broadband connections remained almost unchanged year-on-year, at 2.03 million (+0.1%). The number of inOne customers continues to grow, however. At the end of March 2022, Swisscom Switzerland recorded 2.51 million inOne customers in the Residential Customers segment. In this segment, inOne accounts for 66% of postpaid mobile lines and 82% of broadband connections. The number of TV connections remained largely stable year-on-year at 1.59 million (+0.3%). The number of fixed telephony access lines fell year-on-year by 6.2% or 92,000 to 1.40 million.

Segment expense declined by 2.1% or CHF 24 million to CHF 1,140 million. Direct costs fell by 2.9% or CHF 13 million to CHF 434 million. In addition to the decline in subscriber acquisition and retention costs, costs for roaming traffic also fell. Indirect costs decreased by 1.5% or CHF 11 million to CHF 706 million. This decline in costs thanks to efficiency measures was partially offset by additional costs resulting from the acquisition of MTF Group companies. Headcount increased by 1.3% or 169 FTEs year-on-year to 12,999 FTEs due to the hiring of external staff and the acquisition of MTF Group companies. The segment result before depreciation and amortisation increased by 1.5% or CHF 14 million to CHF 930 million. The decline in revenue from telecoms services was more than offset thanks to growth in the solutions business and ongoing cost-cutting measures.

Capital expenditure fell by 1.9% or CHF 7 million to CHF 364 million. Capital expenditure in the expansion of broadband networks decreased, while capital expenditure in other infrastructure increased. As at the end of March 2022, 90% of all Swiss homes and offices were connected with ultra-fast broadband exceeding 80 Mbps. 74% of all homes and offices benefited from fast connections at over 200 Mbps. Swisscom aims to double the rolling out of the fibre-optic network to homes and offices (FTTH) to around 60% in Switzerland by 2025 using P2MP (point-to-multipoint) architecture. The Competition Commission questioned the network architecture and imposed precautionary measures in December 2020, which the Federal Administrative Court confirmed in 2021. Swisscom is interested in a rapid solution; to this end, it is holding in-depth discussions with the Competition Commission.

Fastweb

In EUR million, except where indicated   31.03.2022   31.03.2021   Change
In EUR million, except where indicated     31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedNet revenue and results    31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedResidential Customers    31.03.2022285    31.03.2021286    Change–0.3%
In EUR million, except where indicatedCorporate Business    31.03.2022247    31.03.2021237    Change4.2%
In EUR million, except where indicatedWholesale    31.03.202262    31.03.202156    Change10.7%
In EUR million, except where indicatedRevenue from external customers    31.03.2022594    31.03.2021579    Change2.6%
In EUR million, except where indicatedIntersegment revenue    31.03.20221    31.03.20212    Change–50.0%
In EUR million, except where indicatedNet revenue    31.03.2022595    31.03.2021581    Change2.4%
In EUR million, except where indicatedSegment expenses    31.03.2022(410)    31.03.2021(402)    Change2.0%
In EUR million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.2022185    31.03.2021179    Change3.4%
In EUR million, except where indicatedMargin as % of net revenue    31.03.202231.1    31.03.202130.8    Change 
In EUR million, except where indicatedLease expense    31.03.2022(14)    31.03.2021(14)    Change–%
In EUR million, except where indicatedDepreciation and amortisation    31.03.2022(147)    31.03.2021(146)    Change0.7%
In EUR million, except where indicatedSegment result    31.03.202224    31.03.202119    Change26.3%
In EUR million, except where indicated     31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedOperating free cash flow proxy    31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.2022185    31.03.2021179    Change3.4%
In EUR million, except where indicatedLease expense    31.03.2022(14)    31.03.2021(14)    Change–%
In EUR million, except where indicatedEBITDA after lease expense (EBITDA AL)    31.03.2022171    31.03.2021165    Change3.6%
In EUR million, except where indicatedCapital expenditure    31.03.2022(157)    31.03.2021(154)    Change1.9%
In EUR million, except where indicatedOperating free cash flow proxy    31.03.202214    31.03.202111    Change27.3%
In EUR million, except where indicated     31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedOperational data in thousand and headcount    31.03.2022     31.03.2021     Change 
In EUR million, except where indicatedBroadband access lines retail    31.03.20222,731    31.03.20212,765    Change–1.2%
In EUR million, except where indicatedBroadband access lines wholesale    31.03.2022363    31.03.2021153    Change137.3%
In EUR million, except where indicatedMobile access lines    31.03.20222,649    31.03.20212,066    Change28.2%
In EUR million, except where indicatedFull-time equivalent employees    31.03.20222,737    31.03.20212,733    Change0.1%

Fastweb’s net revenue rose year-on-year by 2.4% or EUR 14 million to EUR 595 million. Competition has intensified further. Due to the very challenging market conditions, Fastweb’s broadband customer base declined by 1.2% or 34,000 to 2.73 million. By contrast, the number of mobile lines increased by 28.2% or 583,000 year-on-year to 2.65 million. Bundled offerings continue to play an important role. 39% of subscribers use a bundled offering combining fixed network and mobile. Residential customer revenue fell by 0.3% or EUR 1 million to EUR 285 million as a result of strong competition. Revenue from business customers rose by 4.2% or EUR 10 million to EUR 247 million, driven by higher revenue from public authorities. Revenue from wholesale business increased by 10.7% or EUR 6 million to EUR 62 million, while the number of broadband access lines rose year-on-year by 137.3% or 210,000 to 363,000.

The segment result before depreciation and amortisation was 3.4% or EUR 6 million higher at EUR 185 million on the back of the growth in revenue. Capital expenditure increased by 1.9% or EUR 3 million year-on-year to EUR 157 million, largely as a result of increased capital expenditure in network infrastructure. Fastweb’s headcount was practically unchanged year-on-year at 2,737 FTEs.

Other Operating segments

In CHF million, except where indicated   31.03.2022   31.03.2021   Change
In CHF million, except where indicated     31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedNet revenue and results    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedRevenue from external customers    31.03.2022100    31.03.2021104    Change–3.8%
In CHF million, except where indicatedIntersegment revenue    31.03.2022141    31.03.2021136    Change3.7%
In CHF million, except where indicatedNet revenue    31.03.2022241    31.03.2021240    Change0.4%
In CHF million, except where indicatedSegment expenses    31.03.2022(199)    31.03.2021(206)    Change–3.4%
In CHF million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.202242    31.03.202134    Change23.5%
In CHF million, except where indicatedMargin as % of net revenue    31.03.202217.4    31.03.202114.2    Change 
In CHF million, except where indicatedLease expense    31.03.2022(3)    31.03.2021(3)    Change–%
In CHF million, except where indicatedDepreciation and amortisation    31.03.2022(11)    31.03.2021(13)    Change–15.4%
In CHF million, except where indicatedSegment result    31.03.202228    31.03.202118    Change55.6%
In CHF million, except where indicated    31.03.2022    31.03.2021    Change
In CHF million, except where indicatedOperating free cash flow proxy    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedSegment result before depreciation and amortisation (EBITDA)    31.03.202242    31.03.202134    Change23.5%
In CHF million, except where indicatedLease expense    31.03.2022(3)    31.03.2021(3)    Change–%
In CHF million, except where indicatedEBITDA after lease expense (EBITDA AL)    31.03.202239    31.03.202131    Change25.8%
In CHF million, except where indicatedCapital expenditure    31.03.2022(6)    31.03.2021(9)    Change–33.3%
In CHF million, except where indicatedOperating free cash flow proxy    31.03.202233    31.03.202122    Change50.0%
In CHF million, except where indicated     31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedHeadcount    31.03.2022     31.03.2021     Change 
In CHF million, except where indicatedFull-time equivalent employees    31.03.20223,273    31.03.20213,514    Change–6.9%

The net revenue of the Other Operating Segments remains largely unchanged year-on-year at CHF 241 million (+0.4%). The segment result before depreciation and amortisation increased by 23.5% or CHF 8 million to CHF 42 million thanks to lower costs, and the profit margin rose accordingly to 17.4% (prior year: 14.2%). The headcount decreased by 6.9% or 241 FTEs to 3,273 FTEs, mainly as a result of the sale of the French subsidiary local.fr.