1 Changes in accounting principles

As of 1 January 2024, Swisscom adopted various amendments to the existing International Accounting Standards (IFRS) and interpretations, none of which have a material impact on the results or the financial position of the Group.

Swisscom reviewed the classification and presentation of direct and indirect costs. The review resulted primarily in the introduction of changes to the way purchased network services are classified. As of 2024, these will be reported as direct costs. In the past, these costs were included in indirect costs. The change will improve the presentation of operating expense in the consolidated financial reporting, making it more relevant. The prior year’s comparatives have been restated accordingly. The change increases direct costs, and reduces indirect costs, for the 2023 financial year by CHF 181 million in each case (Q1 2023: CHF 49 million).