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3rd Interim Report 2022
3rd Interim Report 2022
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3rd Interim Report 2022
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Table of contents for the 3rd Interim Report 2022 report

3nd 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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8 Provisions and contingent liabilities

Provisions

Provisions changed as follows in the first nine months of 2022:


In CHF million
  Dismantlement
and restoration
costs
  Regulatory and
competition law
proceedings
 
Termination
benefits
 

Others
 

Total
Balance at 1 January 2022   712   176   55   206   1,149
Additions to provisions   –   85   –   24   109
Present-value adjustments   2   9   –   –   11
Adjustments recognised under property, plant and equipment   (58)   –   –   –   (58)
Release of unused provisions   –   –   (3)   (4)   (7)
Use of provisions   (17)   (72)   (13)   (27)   (129)
Foreign currency translation adjustments   –   –   –   (2)   (2)
Balance at 30 September 2022   639   198   39   197   1,073
Thereof current provisions   –   –   34   71   105
Thereof non-current provisions   639   198   5   126   968

In accordance with the revised Telecommunications Act, Swisscom provides access services (incl. interconnection) to other telecommunications service providers in Switzerland. In previous years, several telecommunications service providers demanded ComCom reduce the prices charged to them by Swisscom. The procedures for setting access prices for 2013 onwards are still pending before ComCom. In addition, an appeal is pending before the Federal Administrative Court in connection with the interest on recovery claims from access-related proceedings, which should be based on the weighted average cost of capital (WACC).

The Competition Commission (COMCO) has opened various investigations against Swisscom in the past. In April 2013, COMCO opened an investigation against Swisscom under the Federal Cartel Act concerning the broadcasting of sporting events on pay TV. In May 2016, COMCO imposed a penalty of CHF 72 million on Swisscom in these proceedings. Swisscom appealed against this ruling before the Federal Administrative Court. In June 2022, the Federal Administrative Court largely confirmed COMCO’s ruling and ordered Swisscom to pay a fine of CHF 72 million. The fine was paid by Swisscom in the third quarter of 2022. Swisscom has lodged an appeal against the decision of the Federal Administrative Court with the Federal Court. Also pending are the appeals to the Federal Court against COMCO’s rulings in connection with the invitation to tender for a corporate network for Swiss Post and the precautionary measures concerning Swisscom’s fibre-optic expansion. In the event of a legally binding finding of abuse of a market-dominant position, claims could be asserted against Swisscom under civil law.

In the past, Swisscom recognised provisions for regulatory and antitrust proceedings on the basis of legal assessments. As a result of the reassessment of these proceedings, provisions of CHF 85 million were made in the first nine months of 2022 and present-value adjustments of CHF 9 million were recorded. Any payments to be made will depend upon the date on which legally binding decrees and decisions are issued, and could probably occur within five years.