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2nd Interim Report 2024
2nd Interim Report 2024
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2nd Interim Report 2024
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Table of contents for the 2nd Interim Report 2024 report

2nd Interim Report 2024
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 Accounting policies2 Segment information3 Operating costs4 Dividend5 Financial liabilities6 Financial result7 Net current operating assets8 Provisions and contingent liabilities9 Company acquisition of Vodafone Italia10 Sale of shares in FiberCop
Alternative performance measures
Reconciliation of alternative performance measures
Further information
Share informationQuarterly review 2023 and 2024Forward looking statements
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Cash flows


In CHF million
  1st half-year
2024
  1st half-year
2023
 
Change
Operating income before depreciation and amortisation (EBITDA)   2,279   2,303   (24)
Lease expense   (145)   (143)   (2)
EBITDA after lease expense (EBITDAaL)   2,134   2,160   (26)
Capital expenditure   (1,157)   (1,113)   (44)
Operating free cash flow   977   1,047   (70)
Change in net working capital   (386)   (346)   (40)
Change in net defined benefit liabilities   (6)   (17)   11
Net interest payments on financial assets and liabilities   (9)   (23)   14
Income taxes paid   (189)   (201)   12
Other operating cash flows   (34)   2   (36)
Free cash flow   353   462   (109)
Net expenditures for company acquisitions and disposals   (10)   (56)   46
Dividends paid to equity holders of Swisscom Ltd   (1,140)   (1,140)   –
Other changes 1   (51)   –   (51)
Increase in net debt   (848)   (734)   (114)
1 Includes foreign currency effects, fair value adjustments and non-cash changes in net debt positions.

Operating free cash flow fell by CHF 70 million to CHF 977 million due to higher capital expenditure and lower EBITDA. Net working capital grew by CHF 386 million compared with the end of 2023 (prior year: increase of CHF 346 million). As a result, free cash flow fell by CHF 109 million to CHF 353 million. An unchanged dividend per share of CHF 22 was paid in the second quarter of 2024, representing a total dividend payment of CHF 1,140 million.