Depreciation and amortisation, non-operating results
In CHF million, except where indicated |
2nd quarter 2023 |
2nd quarter 2022 |
Change |
1st half-year 2023 |
1st half-year 2022 |
Change |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income before depreciation and amortisation (EBITDA) | 1,139 | 1,054 | 8.1% | 2,303 | 2,191 | 5.1% | ||||||
| Depreciation and amortisation of property, plant and equipment and intangible assets | (531) | (536) | –0.9% | (1,056) | (1,058) | –0.2% | ||||||
| Depreciation of right-of-use assets | (66) | (68) | –2.9% | (132) | (134) | –1.5% | ||||||
| Operating income (EBIT) | 542 | 450 | 20.4% | 1,115 | 999 | 11.6% | ||||||
| Net interest expense on financial assets and liabilities | (19) | (18) | 5.6% | (33) | (33) | –% | ||||||
| Interest expense on lease liabilities | (9) | (11) | –18.2% | (21) | (22) | –4.5% | ||||||
| Other financial result | (6) | 14 | –% | (10) | 42 | –% | ||||||
| Result of equity-accounted investees | – | – | –% | – | (1) | –100.0% | ||||||
| Income before income taxes | 508 | 435 | 16.8% | 1,051 | 985 | 6.7% | ||||||
| Income tax expense | (102) | (97) | 5.2% | (203) | (200) | 1.5% | ||||||
| Net income | 406 | 338 | 20.1% | 848 | 785 | 8.0% | ||||||
| Attributable to equity holders of Swisscom Ltd | 406 | 337 | 20.5% | 848 | 784 | 8.2% | ||||||
| Attributable to non-controlling interests | – | 1 | –100.0% | – | 1 | –100.0% | ||||||
| Earnings per share (in CHF) | 7.84 | 6.51 | 20.4% | 16.37 | 15.13 | 8.2% |
Net income rose by 8.0% to CHF 848 million. The increase in operating income was partly offset by the deterioration in the financial result. The financial result decreased mainly due to positive effects of CHF 62 million from the valuation of interest rate swaps at market value in the previous year. Income tax expense was CHF 203 million (prior year: CHF 200 million), corresponding to an effective income tax rate of 19.3% (prior year: 20.3%).