Quarterly review 2022 and 2023

In CHF million, except where indicated	1st quarter	2nd quarter	3rd quarter	4th quarter	2022	1st quarter	2nd quarter	2023

Income statement
Revenue	2,754	2,713	2,712	2,872	11,051	2,747	2,703	5,450
Direct costs	(629)	(616)	(661)	(720)	(2,626)	(661)	(627)	(1,288)
Personnel expense	(697)	(676)	(650)	(682)	(2,705)	(680)	(670)	(1,350)
Other operating expense	(437)	(565)	(404)	(576)	(1,982)	(406)	(461)	(867)
Capitalised self-constructed assets and other income	146	198	153	171	668	164	194	358
Operating income (EBITDA)	1,137	1,054	1,150	1,065	4,406	1,164	1,139	2,303
Depreciation and amortisation	(522)	(536)	(525)	(521)	(2,104)	(525)	(531)	(1,056)
Depreciation of right-of-use assets	(66)	(68)	(67)	(61)	(262)	(66)	(66)	(132)
Operating income (EBIT)	549	450	558	483	2,040	573	542	1,115
Net interest expense on financial assets and liabilities	(15)	(18)	(13)	(11)	(57)	(14)	(19)	(33)
Interest expense on lease liabilities	(11)	(11)	(11)	(11)	(44)	(12)	(9)	(21)
Other financial result	28	14	(10)	(3)	29	(4)	(6)	(10)
Equity-accounted investees	(1)	–	(1)	(3)	(5)	–	–	–
Income before income taxes	550	435	523	455	1,963	543	508	1,051
Income tax expense	(103)	(97)	(94)	(66)	(360)	(101)	(102)	(203)
Net income	447	338	429	389	1,603	442	406	848
Attributable to equity holders of Swisscom Ltd	447	337	429	389	1,602	442	406	848
Attributable to non-controlling interests	–	1	–	–	1	–	–	–

Earnings per share (in CHF)	8.63	6.51	8.28	7.51	30.93	8.53	7.84	16.37


Revenue
Swisscom Switzerland	2,056	2,011	2,039	2,103	8,209	2,044	2,000	4,044
Fastweb	615	615	588	675	2,493	619	617	1,236
Other Operating Segments	241	259	259	279	1,038	243	258	501
Intersegment elimination	(158)	(172)	(174)	(185)	(689)	(159)	(172)	(331)
Total revenue	2,754	2,713	2,712	2,872	11,051	2,747	2,703	5,450


Operating income before depreciation and amortisation (EBITDA)
Swisscom Switzerland	930	818	917	818	3,483	943	913	1,856
Fastweb	191	222	220	224	857	187	206	393
Other Operating Segments	42	41	39	38	160	34	21	55
Reconciliation pension cost	(15)	(15)	(15)	(8)	(53)	9	10	19
Elimination	(11)	(12)	(11)	(7)	(41)	(9)	(11)	(20)
Total EBITDA	1,137	1,054	1,150	1,065	4,406	1,164	1,139	2,303


Capital expenditure
Swisscom Switzerland	364	391	406	537	1,698	394	427	821
Fastweb	163	143	147	166	619	152	141	293
Other Operating Segments	6	8	8	12	34	8	10	18
Intersegment elimination	(11)	(11)	(13)	(7)	(42)	(9)	(10)	(19)
Total capital expenditure	522	531	548	708	2,309	545	568	1,113

In CHF million, except where indicated	1st quarter	2nd quarter	3rd quarter	4th quarter	2022	1st quarter	2nd quarter	2023

Operating free cash flow proxy
Operating income (EBITDA)	1,137	1,054	1,150	1,065	4,406	1,164	1,139	2,303
Lease expense	(72)	(74)	(73)	(67)	(286)	(73)	(70)	(143)
EBITDA after lease expense (EBITDAaL)	1,065	980	1,077	998	4,120	1,091	1,069	2,160
Capital expenditure	(522)	(531)	(548)	(708)	(2,309)	(545)	(568)	(1,113)
Operating free cash flow proxy	543	449	529	290	1,811	546	501	1,047

Free cash flow
Free cash flow	63	230	687	369	1,349	209	253	462

Net debt
Net debt	7,680	8,538	7,704	7,374	7,374	7,171	8,108	8,108

Full-time equivalent employees
Swisscom Switzerland	12,999	12,927	12,870	12,822	12,822	12,841	13,054	13,054
Fastweb	2,737	2,880	2,915	3,039	3,039	3,087	3,117	3,117
Other Operating Segments	3,273	3,260	3,248	3,296	3,296	3,324	3,326	3,326
Total personnel expense	19,009	19,067	19,033	19,157	19,157	19,252	19,497	19,497
Information by geographical regions
Revenue in Switzerland	2,141	2,100	2,126	2,199	8,566	2,129	2,088	4,217
Revenue in other countries	613	613	586	673	2,485	618	615	1,233
Total revenue	2,754	2,713	2,712	2,872	11,051	2,747	2,703	5,450

Operating income (EBITDA) in Switzerland	941	829	925	839	3,534	975	933	1,908
Operating income (EBITDA) in other countries	196	225	225	226	872	189	206	395
Total EBITDA	1,137	1,054	1,150	1,065	4,406	1,164	1,139	2,303

Capital expenditure in Switzerland	359	387	401	541	1,688	392	427	819
Capital expenditure in other countries	163	144	148	166	621	153	141	294
Total capital expenditure	522	531	549	707	2,309	545	568	1,113

Headcount in Switzerland	15,987	15,874	15,786	15,750	15,750	15,755	15,929	15,929
Headcount in other countries	3,022	3,193	3,247	3,407	3,407	3,497	3,568	3,568
Total headcount (ful-time equivalent)	19,009	19,067	19,033	19,157	19,157	19,252	19,497	19,497

Fastweb, in EUR million
Residential customers	285	287	284	289	1,145	289	291	580
Corporate customers	247	250	239	279	1,015	261	266	527
Wholesale	62	64	78	111	315	71	70	141
External revenue	594	601	601	679	2,475	621	627	1,248
Intersegment revenue	1	3	2	1	7	2	1	3
Revenue	595	604	603	680	2,482	623	628	1,251

Operating income (EBITDA)	185	218	225	226	854	188	210	398
Margin as % of revenue	31.1	36.1	37.3	33.2	34.4	30.2	33.4	31.8
Lease expense	(14)	(15)	(14)	(14)	(57)	(13)	(14)	(27)
EBITDA after lease expense (EBITDAaL)	171	203	211	212	797	175	196	371
Capital expenditure	(157)	(142)	(150)	(167)	(616)	(153)	(144)	(297)
Operating free cash flow proxy	14	61	61	45	181	22	52	74

Broadband access lines in thousand	2,731	2,712	2,696	2,683	2,683	2,662	2,631	2,631
Broadband access lines wholesale in thousand	363	386	418	458	458	498	532	532
Mobile access lines in thousand	2,649	2,805	2,937	3,087	3,087	3,231	3,343	3,343

In CHF million, except where indicated	1st quarter	2nd quarter	3rd quarter	4th quarter	2022	1st quarter	2nd quarter	2023

Swisscom Switzerland Revenue and results
Residential Customers	965	962	970	964	3,861	960	959	1,919
Business Customers	400	395	399	394	1,588	388	382	770
Revenue telecoms services	1,365	1,357	1,369	1,358	5,449	1,348	1,341	2,689
IT services	289	285	281	297	1,152	291	292	583
Merchandise	222	185	204	249	860	217	175	392
Wholesale	130	133	142	135	540	131	132	263
Revenue other	35	34	29	50	148	42	44	86
External revenue	2,041	1,994	2,025	2,089	8,149	2,029	1,984	4,013
Intersegment revenue	15	17	14	14	60	15	16	31
Revenue	2,056	2,011	2,039	2,103	8,209	2,044	2,000	4,044


Residential Customers	1,131	1,108	1,131	1,157	4,527	1,136	1,099	2,235
Business Customers	791	766	764	808	3,129	772	763	1,535
Wholesale	133	136	144	138	551	134	136	270
Infrastructure & Support Functions	18	18	18	17	71	19	19	38
Intersegment elimination	(17)	(17)	(18)	(17)	(69)	(17)	(17)	(34)
Revenue	2,056	2,011	2,039	2,103	8,209	2,044	2,000	4,044


Residential Customers	746	730	757	746	2,979	748	741	1,489
Business Customers	352	339	360	330	1,381	345	334	679
Wholesale	81	74	54	80	289	80	86	166
Infrastructure & Support Functions	(249)	(326)	(254)	(336)	(1,165)	(231)	(247)	(478)
Intersegment elimination	–	1	–	(2)	(1)	1	(1)	–
EBITDA	930	818	917	818	3,483	943	913	1,856
Margin as % of revenue	45.2	40.7	45.0	38.9	42.4	46.1	45.7	45.9
Lease expense	(56)	(55)	(56)	(51)	(218)	(56)	(55)	(111)
EBITDA after lease expense (EBITDAaL)	874	763	861	767	3,265	887	858	1,745
Capital expenditure	(364)	(391)	(406)	(537)	(1,698)	(394)	(427)	(821)
Operating free cash flow proxy	510	372	455	230	1,567	493	431	924

Operational data in thousand
Residential Customers	1,139	1,121	1,103	1,082	1,082	1,058	1,041	1,041
Business Customers	260	248	248	240	240	234	230	230
Fixed telephony access lines	1,399	1,369	1,351	1,322	1,322	1,292	1,271	1,271

Residential Customers	1,736	1,733	1,734	1,736	1,736	1,727	1,724	1,724
Business Customers	294	293	293	291	291	290	288	288
Broadband access lines retail	2,030	2,026	2,027	2,027	2,027	2,017	2,012	2,012

Residential Customers	1,517	1,513	1,508	1,503	1,503	1,491	1,483	1,483
Business Customers	69	69	68	68	68	67	66	66
TV access lines	1,586	1,582	1,576	1,571	1,571	1,558	1,549	1,549

Residential Customers	3,136	3,169	3,226	3,275	3,275	3,288	3,313	3,313
Business Customers	1,879	1,883	1,874	1,871	1,871	1,888	1,903	1,903
Mobile access lines Postpaid	5,015	5,052	5,100	5,146	5,146	5,176	5,216	5,216
Prepaid Residential Customers	1,136	1,105	1,066	1,027	1,027	1,001	979	979
Mobile access lines	6,151	6,157	6,166	6,173	6,173	6,177	6,195	6,195

Access lines wholesale	703	692	691	679	679	688	682	682