Reconciliation of alternative performance measures
in CHF million | 1.1.–30.6.2025 | 1.1.–30.6.2024 | Change reported | |||
---|---|---|---|---|---|---|
EBITDA after lease expense (EBITDAaL) | ||||||
Operating income before depreciation and amortisation | 3,290 | 2,483 | 807 | |||
Depreciation of right-of-use assets | (782) | (333) | (449) | |||
Depreciation of indefeasible rights of use (IRU) | 22 | 9 | 13 | |||
Interest expense on lease liabilities | (56) | (25) | (31) | |||
EBITDA after lease expense (EBITDAaL) | 2,474 | 2,134 | 340 | |||
Capital expenditure | ||||||
Purchase of property, plant and equipment and intangible assets | 1,461 | 1,150 | 27.0% | |||
Payments for indefeasible rights of use (IRU) | 24 | 7 | 242.9% | |||
Capital expenditure | 1,485 | 1,157 | 28.3% | |||
Operating free cash flow | ||||||
Cash flow from operating activities | 2,745 | 1,862 | 883 | |||
Purchase of property, plant and equipment and intangible assets | (1,461) | (1,150) | (311) | |||
Payments for indefeasible rights of use (IRU) | (24) | (7) | (17) | |||
Depreciation of right-of-use assets | (782) | (333) | (449) | |||
Depreciation of indefeasible rights of use (IRU) | 22 | 9 | 13 | |||
Proceeds from finance leases | (42) | (38) | (4) | |||
Change in deferred gain from the sale and leaseback of real estate | 2 | 2 | – | |||
Change in operating assets and liabilities | 104 | 348 | (244) | |||
Change in provisions | 127 | 36 | 91 | |||
Change in defined benefit obligations | (9) | 6 | (15) | |||
Gain on sale of property, plant and equipment | 14 | 4 | 10 | |||
Loss on sale of property, plant and equipment | (2) | – | (2) | |||
Expense for share-based payments | (1) | (1) | – | |||
Revenue from finance leases | 44 | 42 | 2 | |||
Interest received | (9) | (13) | 4 | |||
Interest payments on financial liabilities | 78 | 22 | 56 | |||
Dividends received | (1) | (1) | – | |||
Income taxes paid | 184 | 189 | (5) | |||
Operating free cash flow | 989 | 977 | 12 | |||
Free cash flow | ||||||
Cash flow from operating activities | 2,745 | 1,862 | 883 | |||
Cash flow used in investing activities | (1,542) | (1,155) | (387) | |||
Repayment of lease liabilities | (785) | (356) | (429) | |||
Acquisition of subsidiaries, net of cash and cash equivalents acquired | 8 | 10 | (2) | |||
Purchase of other financial assets | 68 | 4 | 64 | |||
Proceeds from other financial assets | – | (12) | 12 | |||
Other cash flows from financing activities | 2 | – | 2 | |||
Free cash flow | 496 | 353 | 143 |
in CHF million |
1.1.–30.6.2025 |
1.1.–30.6.2024 |
Change reported |
Change at constant exchange rates |
||||
---|---|---|---|---|---|---|---|---|
Revenue, reported | 7,446 | 5,446 | 36.7% | 37.9% | ||||
Pro forma revenue Vodafone Italia | ||||||||
Revenue, pro forma | 7,446 | 7,619 | –2.3% | –1.4% | ||||
EBITDA after lease expense (EBITDAaL), reported | 2,474 | 2,134 | 15.9% | 16.6% | ||||
Pro forma EBITDAaL Vodafone Italia | – | 484 | ||||||
EBITDAaL, pro forma | 2,474 | 2,618 | –5.5% | –4.9% | ||||
Restructuring cost | 2 | – | ||||||
Integration cost of Vodafone Italia | 19 | – | ||||||
Transaction cost for the acquisition of Vodafone Italia | – | 13 | ||||||
Release of provisions for legal proceedings in Switzerland | – | (24) | ||||||
Pension cost (IAS 19 reconciliation) | 8 | (9) | ||||||
EBITDAaL, adjusted | 2,503 | 2,598 | –3.7% | –3.1% | ||||
Capital expenditure, reported | 1,485 | 1,157 | 28.3% | 29.4% | ||||
Pro forma capital expenditure Vodafone Italia | – | 455 | ||||||
Capital expenditure, pro forma | 1,485 | 1,612 | –7.9% | –7.1% | ||||
Integration capital expenditure of Vodafone Italia | (32) | (50) | ||||||
Capital expenditure, adjusted | 1,453 | 1,562 | –7.0% | –6.2% | ||||
Operarting free cash flow, reported | 989 | 977 | 1.2% | 1.2% | ||||
Pro forma operating free cash flow Vodafone Italia | – | 29 | ||||||
Operating free cash flow, pro forma | 989 | 1,006 | –1.7% | –1.4% | ||||
EBITDAaL adjustments | 29 | (20) | ||||||
Capital expenditure adjustments | 32 | 50 | ||||||
Operating free cash flow, adjusted | 1,050 | 1,036 | 1.4% | 1.6% |