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2nd Interim Report 2022
2nd Interim Report 2022
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2nd Interim Report 2022
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  • 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
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Table of contents for the 2nd Interim Report 2022 report

2nd 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
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Quarterly review 2021 and 2022


In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Income statement
Net revenue   2,803   2,780   2,760   2,840   11,183   2,768   2,726           5,494
Direct costs   (680)   (670)   (681)   (748)   (2,779)   (643)   (629)           (1,272)
Personnel expense   (716)   (611)   (636)   (704)   (2,667)   (697)   (676)           (1,373)
Other operating expense   (422)   (444)   (463)   (528)   (1,857)   (437)   (565)           (1,002)
Capitalised self-constructed assets and other income   139   138   168   153   598   146   198           344
Operating income (EBITDA)   1,124   1,193   1,148   1,013   4,478   1,137   1,054           2,191
Depreciation and amortisation   (538)   (549)   (527)   (517)   (2,131)   (522)   (536)           (1,058)
Depreciation of right-of-use assets   (70)   (71)   (70)   (70)   (281)   (66)   (68)           (134)
Operating income (EBIT)   516   573   551   426   2,066   549   450           999
Net interest expense on financial assets and liabilities   (17)   (16)   (13)   (14)   (60)   (15)   (18)           (33)
Interest expense on lease liabilities   (11)   (11)   (11)   (11)   (44)   (11)   (11)           (22)
Other financial result   252   (35)   –   (17)   200   28   14           42
Equity-accounted investees   –   (4)   (1)   (5)   (10)   (1)   –           (1)
Income before income taxes   740   507   526   379   2,152   550   435           985
Income tax expense   (102)   (99)   (36)   (82)   (319)   (103)   (97)           (200)
Net income   638   408   490   297   1,833   447   338           785
Attributable to equity holders of Swisscom Ltd   638   407   490   297   1,832   447   337           784
Attributable to non-controlling interests   –   1   –   –   1   –   1           1
                                         
Earnings per share (in CHF)   12.32   7.86   9.46   5.73   35.37   8.63   6.51           15.13
                                       
                                         
Net revenue
Swisscom Switzerland   2,080   2,023   2,047   2,083   8,233   2,070   2,024           4,094
Fastweb   634   659   621   669   2,583   615   615           1,230
Other Operating Segments   240   265   265   263   1,033   241   259           500
Intersegment elimination   (151)   (167)   (173)   (175)   (666)   (158)   (172)           (330)
Total net revenue   2,803   2,780   2,760   2,840   11,183   2,768   2,726           5,494
         
                                         
Operating income before depreciation and amortisation (EBITDA)
Swisscom Switzerland   916   881   879   777   3,453   930   818           1,748
Fastweb   195   225   236   236   892   191   222           413
Other Operating Segments   34   49   53   30   166   42   41           83
Reconciliation pension cost   (13)   49   (11)   (11)   14   (15)   (15)           (30)
Elimination   (8)   (11)   (9)   (19)   (47)   (11)   (12)           (23)
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137   1,054           2,191
         
                                         
Capital expenditure
Swisscom Switzerland   371   382   372   517   1,642   364   391           755
Fastweb   168   162   149   170   649   163   143           306
Other Operating Segments   9   10   10   12   41   6   8           14
Intersegment elimination   (8)   (11)   (9)   (18)   (46)   (11)   (11)           (22)
Total capital expenditure   540   543   522   681   2,286   522   531           1,053

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Operating free cash flow proxy
Operating income (EBITDA)   1,124   1,193   1,148   1,013   4,478   1,137   1,054           2,191
Lease expense   (75)   (76)   (75)   (75)   (301)   (72)   (74)           (146)
EBITDA after lease expense (EBITDA AL)   1,049   1,117   1,073   938   4,177   1,065   980           2,045
Capital expenditure   (540)   (543)   (522)   (681)   (2,286)   (522)   (531)           (1,053)
Operating free cash flow proxy   509   574   551   257   1,891   543   449           992
                                         
Net debt
Net debt excl. lease liabilities.   5,849   6,626   6,040   5,689   5,689   5,695   6,595           6,595
Net debt   7,825   8,568   7,999   7,706   7,706   7,680   8,538           8,538
                                         
Full-time equivalent employees
Swisscom Switzerland   12,830   12,867   12,963   12,889   12,889   12,999   12,927           12,927
Fastweb   2,733   2,750   2,741   2,753   2,753   2,737   2,880           2,880
Other Operating Segments   3,514   3,493   3,468   3,263   3,263   3,273   3,260           3,260
Total personnel expense   19,077   19,110   19,172   18,905   18,905   19,009   19,067           19,067
Information by geographical regions
Net revenue in Switzerland   2,164   2,115   2,134   2,166   8,579   2,154   2,114           4,268
Net revenue in other countries   639   665   626   674   2,604   614   612           1,226
Total net revenue   2,803   2,780   2,760   2,840   11,183   2,768   2,726           5,494
                                         
EBITDA Switzerland   927   962   907   773   3,569   941   829           1,770
EBITDA other countries   197   231   241   240   909   196   225           421
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137   1,054           2,191
                                         
Capital expenditure in Switzerland   371   381   372   510   1,634   359   387           746
Capital expenditure in other countries   169   162   150   171   652   163   144           307
Total capital expenditure   540   543   522   681   2,286   522   531           1,053
                                         
Headcount in Switzerland   15,975   15,964   16,006   15,882   15,882   15,987   15,874           15,874
Headcount in other countries   3,102   3,146   3,166   3,023   3,023   3,022   3,193           3,193
Total headcount (ful-time equivalent)   19,077   19,110   19,172   18,905   18,905   19,009   19,067           19,067
                                         
Fastweb, in EUR million
Residential customers   286   288   282   286   1,142   285   287           572
Corporate customers   237   244   231   267   979   247   250           497
Wholesale   56   66   60   81   263   62   64           126
Revenue from external customers   579   598   573   634   2,384   594   601           1,195
Segment result (EBITDA)   179   205   218   224   826   185   218           403
Margin as % of net revenue   30.8   34.2   38.0   35.2   34.5   31.1   36.1           33.6
Lease expense   (14)   (13)   (13)   (14)   (54)   (14)   (15)           (29)
EBITDA after lease expense (EBITDA AL)   165   192   205   210   772   171   203           374
Capital expenditure   (154)   (147)   (138)   (162)   (601)   (157)   (142)           (299)
Operating free cash flow proxy   11   45   67   48   171   14   61           75
                                         
Broadband access lines in thousand   2,765   2,774   2,768   2,750   2,750   2,731   2,712           2,712
Broadband access lines wholesale in thousand   153   190   237   306   306   363   386           386
Mobile access lines in thousand   2,066   2,188   2,316   2,472   2,472   2,649   2,805           2,805

In CHF million, except where indicated
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2021
  1.
quarter
  2.
quarter
  3.
quarter
  4.
quarter
 
2022
                                         
Swisscom Switzerland Revenue and results
Residential Customers   465   464   467   458   1,854   460   462           922
Business Customers   199   195   193   190   777   188   186           374
Revenue wireless   664   659   660   648   2,631   648   648           1,296
Residential Customers   504   500   498   499   2,001   505   500           1,005
Business Customers   222   217   213   214   866   212   209           421
Revenue fixed-line   726   717   711   713   2,867   717   709           1,426
Total revenue telecoms services   1,390   1,376   1,371   1,361   5,498   1,365   1,357           2,722
Solutions business   273   274   274   290   1,111   297   292           589
Merchandise   211   174   179   208   772   214   178           392
Wholesale   169   156   163   156   644   144   146           290
Revenue other   24   31   45   52   152   35   34           69
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055   2,007           4,062
                                         
Residential Customers   1,134   1,108   1,134   1,153   4,529   1,127   1,104           2,231
Business Customers   759   741   730   752   2,982   779   753           1,532
Wholesale   169   156   163   156   644   144   146           290
Infrastructure & Support Functions   5   6   5   6   22   5   4           9
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055   2,007           4,062
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Residential Customers   728   736   758   694   2,916   745   729           1,474
Business Customers   360   348   349   318   1,375   353   340           693
Wholesale   89   75   56   78   298   81   75           156
Infrastructure & Support Functions   (261)   (278)   (283)   (315)   (1,137)   (249)   (327)           (576)
Intersegment elimination   –   –   (1)   2   1   –   1           1
Segment result (EBITDA)   916   881   879   777   3,453   930   818           1,748
Margin as % of net revenue   44.0   43.5   42.9   37.3   41.9   44.9   40.4           42.7
Lease expense   (58)   (59)   (57)   (58)   (232)   (56)   (55)           (111)
EBITDA after lease expense (EBITDA AL)   858   822   822   719   3,221   874   763           1,637
Capital expenditure   (371)   (382)   (372)   (517)   (1,642)   (364)   (391)           (755)
Operating free cash flow proxy   487   440   450   202   1,579   510   372           882
                                         
Operational data in thousand
Access lines
Residential Customers   1,207   1,188   1,171   1,159   1,159   1,139   1,121           1,121
Business Customers   284   283   270   265   265   260   248           248
Fixed telephony access lines   1,491   1,471   1,441   1,424   1,424   1,399   1,369           1,369
                                         
Residential Customers   1,733   1,733   1,736   1,743   1,743   1,736   1,733           1,733
Business Customers   295   294   294   294   294   294   293           293
Broadband access lines retail   2,028   2,027   2,030   2,037   2,037   2,030   2,026           2,026
                                         
Residential Customers   1,512   1,513   1,516   1,523   1,523   1,517   1,513           1,513
Business Customers   69   69   69   69   69   69   69           69
Swisscom TV access lines   1,581   1,582   1,585   1,592   1,592   1,586   1,582           1,582
                                         
Postpaid Residential Customers   2,990   3,016   3,063   3,110   3,110   3,136   3,169           3,169
Postpaid Business Customers   1,863   1,856   1,859   1,870   1,870   1,879   1,883           1,883
Mobile access lines Postpaid   4,853   4,872   4,922   4,980   4,980   5,015   5,052           5,052
Prepaid Residential Customers   1,324   1,297   1,268   1,197   1,197   1,136   1,105           1,105
Mobile access lines   6,177   6,169   6,190   6,177   6,177   6,151   6,157           6,157
                                         
RGU Residential Customers   8,766   8,747   8,754   8,732   8,732   8,664   8,641           8,641
RGU Business Customers   2,511   2,502   2,492   2,498   2,498   2,502   2,493           2,493
Revenue generating units (RGU)   11,277   11,249   11,246   11,230   11,230   11,166   11,134           11,134
                                         
Access lines wholesale   677   689   692   698   698   703   692           692