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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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Depreciation and amortisation, non-operating results


In CHF million, except where indicated
  2nd quarter
2024
  2nd quarter
2023
 
Change
  1st half-year
2024
  1st half-year
2023
 
Change
Operating income before depreciation and amortisation (EBITDA)   1,124   1,139   –1.3%   2,279   2,303   –1.0%
Depreciation and amortisation of property, plant and equipment and intangible assets   (539)   (531)   1.5%   (1,061)   (1,056)   0.5%
Depreciation of right-of-use assets   (65)   (66)   –1.5%   (130)   (132)   –1.5%
Operating income (EBIT)   520   542   –4.1%   1,088   1,115   –2.4%
Net interest expense on financial assets and liabilities   (21)   (19)   10.5%   (36)   (33)   9.1%
Interest expense on lease liabilities   (12)   (9)   33.3%   (24)   (21)   14.3%
Other financial result   (16)   (6)   –%   (3)   (10)   –%
Result of equity-accounted investees   (1)   –   –%   (1)   –    
Income before income taxes   470   508   –7.5%   1,024   1,051   –2.6%
Income tax expense   (89)   (102)   –12.7%   (188)   (203)   –7.4%
Net income   381   406   –6.2%   836   848   –1.4%
Attributable to equity holders of Swisscom Ltd   381   406   –6.2%   836   848   –1.4%
Attributable to non-controlling interests   –   –       –   –    
                         
Earnings per share (in CHF)   7.35   7.84   –6.3%   16.14   16.37   –1.4%

Net income fell slightly by CHF –12 million (–1.4%) to CHF 836 million. The lower operating income (CHF –27 million) was offset by an improvement in the financial result (CHF +1 million) and lower tax expense (CHF +15 million). The income tax expense was CHF 188 million (prior year: CHF 203 million), corresponding to an effective income tax rate of 18.4% (prior year: 19.3%).