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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   2,731       8,225
Direct costs   (680)   (670)   (681)   (748)   (2,779)   (643)   (629)   (680)       (1,952)
Personnel expense   (716)   (611)   (636)   (704)   (2,667)   (697)   (676)   (650)       (2,023)
Other operating expense   (422)   (444)   (463)   (528)   (1,857)   (437)   (565)   (404)       (1,406)
Capitalised self-constructed assets and other income   139   138   168   153   598   146   198   153       497
Operating income (EBITDA)   1,124   1,193   1,148   1,013   4,478   1,137   1,054   1,150       3,341
Depreciation and amortisation   (538)   (549)   (527)   (517)   (2,131)   (522)   (536)   (525)       (1,583)
Depreciation of right-of-use assets   (70)   (71)   (70)   (70)   (281)   (66)   (68)   (67)       (201)
Operating income (EBIT)   516   573   551   426   2,066   549   450   558       1,557
Net interest expense on financial assets and liabilities   (17)   (16)   (13)   (14)   (60)   (15)   (18)   (13)       (46)
Interest expenses on lease liabilities   (11)   (11)   (11)   (11)   (44)   (11)   (11)   (11)       (33)
Other financial result   252   (35)     (17)   200   28   14   (10)       32
Equity-accounted investees     (4)   (1)   (5)   (10)   (1)     (1)       (2)
Income before income taxes   740   507   526   379   2,152   550   435   523       1,508
Income tax expense   (102)   (99)   (36)   (82)   (319)   (103)   (97)   (94)       (294)
Net income   638   408   490   297   1,833   447   338   429       1,214
Attributable to equity holders of Swisscom Ltd   638   407   490   297   1,832   447   337   429       1,213
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   8.28       23.42
                                       
                                         
Net revenue
Swisscom Switzerland   2,080   2,023   2,047   2,083   8,233   2,070   2,024   2,058       6,152
Fastweb   634   659   621   669   2,583   615   615   588       1,818
Other Operating Segments   240   265   265   263   1,033   241   259   259       759
Intersegment elimination   (151)   (167)   (173)   (175)   (666)   (158)   (172)   (174)       (504)
Total net revenue   2,803   2,780   2,760   2,840   11,183   2,768   2,726   2,731       8,225
                   
                                         
Operating income before depreciation and amortisation (EBITDA)
Swisscom Switzerland   916   881   879   777   3,453   930   818   917       2,665
Fastweb   195   225   236   236   892   191   222   220       633
Other Operating Segments   34   49   53   30   166   42   41   39       122
Reconciliation pension cost   (13)   49   (11)   (11)   14   (15)   (15)   (15)       (45)
Elimination   (8)   (11)   (9)   (19)   (47)   (11)   (12)   (11)       (34)
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137   1,054   1,150       3,341
                   
                                         
Capital expenditure
Swisscom Switzerland   371   382   372   517   1,642   364   391   406       1,161
Fastweb   168   162   149   170   649   163   143   147       453
Other Operating Segments   9   10   10   12   41   6   8   8       22
Intersegment elimination   (8)   (11)   (9)   (18)   (46)   (11)   (11)   (13)       (35)
Total capital expenditure   540   543   522   681   2,286   522   531   548       1,601

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   1,150       3,341
Lease expense   (75)   (76)   (75)   (75)   (301)   (72)   (74)   (73)       (219)
EBITDA after lease expense (EBITDA AL)   1,049   1,117   1,073   938   4,177   1,065   980   1,077       3,122
Capital expenditure   (540)   (543)   (522)   (681)   (2,286)   (522)   (531)   (548)       (1,601)
Operating free cash flow proxy   509   574   551   257   1,891   543   449   529       1,521
                                         
Net debt
Net debt excl. lease liabilities   5,849   6,626   6,040   5,689   5,689   5,695   6,595   5,776       5,776
Net debt   7,825   8,568   7,999   7,706   7,706   7,680   8,538   7,704       7,704
                                         
Full-time equivalent employees
Swisscom Switzerland   12,830   12,867   12,963   12,889   12,889   12,999   12,927   12,870       12,870
Fastweb   2,733   2,750   2,741   2,753   2,753   2,737   2,880   2,915       2,915
Other Operating Segments   3,514   3,493   3,468   3,263   3,263   3,273   3,260   3,248       3,248
Total headcount   19,077   19,110   19,172   18,905   18,905   19,009   19,067   19,033       19,033
Information by geographical regions
Net revenue in Switzerland   2,164   2,115   2,134   2,166   8,579   2,154   2,114   2,145       6,413
Net revenue in other countries   639   665   626   674   2,604   614   612   586       1,812
Total net revenue   2,803   2,780   2,760   2,840   11,183   2,768   2,726   2,731       8,225
                                         
EBITDA in Switzerland   927   962   907   773   3,569   941   829   925       2,695
EBITDA in other countries   197   231   241   240   909   196   225   225       646
Total EBITDA   1,124   1,193   1,148   1,013   4,478   1,137   1,054   1,150       3,341
                                         
Capital expenditure in Switzerland   371   381   372   510   1,634   359   387   401       1,147
Capital expenditure in other countries   169   162   150   171   652   163   144   148       455
Total capital expenditure   540   543   522   681   2,286   522   531   549       1,602
                                         
Headcount in Switzerland   15,975   15,964   16,006   15,882   15,882   15,987   15,874   15,786       15,786
Headcount in other countries   3,102   3,146   3,166   3,023   3,023   3,022   3,193   3,247       3,247
Total headcount (full-time equivalents)   19,077   19,110   19,172   18,905   18,905   19,009   19,067   19,033       19,033
                                         
Fastweb, in EUR million
Residential Customers   286   288   282   286   1,142   285   287   284       856
Enterprise Customers   237   244   231   267   979   247   250   239       736
Wholesale   56   66   60   81   263   62   64   78       204
Revenue from external customers   579   598   573   634   2,384   594   601   601       1,796
Segment result (EBITDA)   179   205   218   224   826   185   218   225       628
Margin as % of net revenue   30.8   34.2   38.0   35.2   34.5   31.1   36.1   37.3       34.9
Lease expense   (14)   (13)   (13)   (14)   (54)   (14)   (15)   (14)       (43)
EBITDA after lease expense (EBITDA AL)   165   192   205   210   772   171   203   211       585
Capital expenditure   (154)   (147)   (138)   (162)   (601)   (157)   (142)   (150)       (449)
Operating free cash flow proxy   11   45   67   48   171   14   61   61       136
                                         
Broadband access lines in thousand   2,765   2,774   2,768   2,750   2,750   2,731   2,712   2,696       2,696
Broadband access lines wholesale in thousand   153   190   237   306   306   363   386   418       418
Mobile access lines in thousand   2,066   2,188   2,316   2,472   2,472   2,649   2,805   2,937       2,937

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   469       1,391
Business Customers   199   195   193   190   777   188   186   189       563
Revenue wireless   664   659   660   648   2,631   648   648   658       1,954
Residential Customers   504   500   498   499   2,001   505   500   501       1,506
Business Customers   222   217   213   214   866   212   209   210       631
Revenue fixed-line   726   717   711   713   2,867   717   709   711       2,137
Total revenue telecoms services   1,390   1,376   1,371   1,361   5,498   1,365   1,357   1,369       4,091
Solutions business   273   274   274   290   1,111   297   292   288       877
Merchandise   211   174   179   208   772   214   178   197       589
Wholesale   169   156   163   156   644   144   146   161       451
Revenue other   24   31   45   52   152   35   34   29       98
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055   2,007   2,044       6,106
                                         
Residential Customers   1,134   1,108   1,134   1,153   4,529   1,127   1,104   1,126       3,357
Business Customers   759   741   730   752   2,982   779   753   753       2,285
Wholesale   169   156   163   156   644   144   146   161       451
Infrastructure & Support Functions   5   6   5   6   22   5   4   4       13
Total revenue from external customers   2,067   2,011   2,032   2,067   8,177   2,055   2,007   2,044       6,106
                                         
Segment result before depreciation and amortisation (EBITDA)                                        
Residential Customers   728   736   758   694   2,916   745   729   756       2,230
Business Customers   360   348   349   318   1,375   353   340   361       1,054
Wholesale   89   75   56   78   298   81   75   54       210
Infrastructure & Support Functions   (261)   (278)   (283)   (315)   (1,137)   (249)   (327)   (254)       (830)
Intersegment elimination       (1)   2   1     1         1
Segment result (EBITDA)   916   881   879   777   3,453   930   818   917       2,665
Margin as % of net revenue   44.0   43.5   42.9   37.3   41.9   44.9   40.4   44.6       43.3
Lease expense   (58)   (59)   (57)   (58)   (232)   (56)   (55)   (56)       (167)
EBITDA after lease expense (EBITDA AL)   858   822   822   719   3,221   874   763   861       2,498
Capital expenditure   (371)   (382)   (372)   (517)   (1,642)   (364)   (391)   (406)       (1,161)
Operating free cash flow proxy   487   440   450   202   1,579   510   372   455       1,337
                                         
Operational data in thousand
Access lines
Residential Customers   1,207   1,188   1,171   1,159   1,159   1,139   1,121   1,103       1,103
Business Customers   284   283   270   265   265   260   248   248       248
Fixed telephony access lines   1,491   1,471   1,441   1,424   1,424   1,399   1,369   1,351       1,351
                                         
Residential Customers   1,733   1,733   1,736   1,743   1,743   1,736   1,733   1,734       1,734
Business Customers   295   294   294   294   294   294   293   293       293
Broadband access lines retail   2,028   2,027   2,030   2,037   2,037   2,030   2,026   2,027       2,027
                                         
Residential Customers   1,512   1,513   1,516   1,523   1,523   1,517   1,513   1,508       1,508
Business Customers   69   69   69   69   69   69   69   68       68
TV access lines   1,581   1,582   1,585   1,592   1,592   1,586   1,582   1,576       1,576
                                         
Postpaid Residential Customers   2,990   3,016   3,063   3,110   3,110   3,136   3,169   3,226       3,226
Postpaid Business Customers   1,863   1,856   1,859   1,870   1,870   1,879   1,883   1,874       1,874
Mobile access lines Postpaid   4,853   4,872   4,922   4,980   4,980   5,015   5,052   5,100       5,100
Prepaid Residential Customers   1,324   1,297   1,268   1,197   1,197   1,136   1,105   1,066       1,066
Mobile access lines   6,177   6,169   6,190   6,177   6,177   6,151   6,157   6,166       6,166
                                         
RGU Residential Customers   8,766   8,747   8,754   8,732   8,732   8,664   8,641   8,637       8,637
RGU Business Customers   2,511   2,502   2,492   2,498   2,498   2,502   2,493   2,483       2,483
Revenue generating units (RGU)   11,277   11,249   11,246   11,230   11,230   11,166   11,134   11,120       11,120
                                         
Access lines wholesale   677   689   692   698   698   703   692   691       691