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Table of contents for the 3rd Interim Report 2023 report

3rd Interim Report 2023
KPIsFinancial review
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 Dividend5 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 2022 and 2023Forward looking statements
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Cash flows


In CHF million
  1.01.–30.09.
2023
  1.01.–30.09.
2022
 
Change
Operating income before depreciation and amortisation (EBITDA)   3,477   3,341   136
Lease expense   (217)   (219)   2
EBITDA after lease expense (EBITDAaL)   3,260   3,122   138
Capital expenditure   (1,630)   (1,601)   (29)
Operating free cash flow proxy   1,630   1,521   109
Change in net working capital   (242)   (167)   (75)
Change in defined benefit obligations   (25)   41   (66)
Net interest payments on financial assets and liabilities   (56)   (47)   (9)
Income taxes paid   (271)   (352)   81
Other operating cash flow   1   (16)   17
Free cash flow   1,037   980   57
Net expenditures for company acquisitions and disposals   (60)   (65)   5
Dividends paid to equity holders of Swisscom Ltd   (1,140)   (1,140)   –
Other changes 1   30   227   (197)
(Increase) Decrease in net debt   (133)   2   (135)
1 Includes foreign currency effects, fair value adjustments and non-cash changes in net debt positions.

The operating free cash flow proxy rose by CHF 109 million to CHF 1,630 million. The better operating income before depreciation and amortisation (EBITDA) was partly offset by the higher volume of investment. Free cash flow increased by CHF 57 million to CHF 1,037 million mainly due to lower income tax payments. The decrease in income tax payments is due to the different payment due dates. A total net amount of EUR 60 million was incurred for company acquisitions and disposals in the first nine months of 2023 (prior year: CHF 65 million). In the second quarter of 2023, an unchanged dividend per share of CHF 22 was paid, representing a total dividend payment of CHF 1,140 million.