Alternative performance measures
Swisscom uses key indicators defined in the IFRS Accounting Standards (IFRS) throughout its entire financial reporting, as well as selected alternative performance measures (APMs). These alternative measures provide useful information on the Group’s financial situation and are used for financial management and control purposes. As these measures are not defined under IFRS, the calculation may differ from the published APMs of other companies. For this reason, comparability across companies may be limited. The key alternative performance measures used at Swisscom for the interim financial reporting as at 31 March 2026 are defined as follows:
| Key performance measure | Swisscom definition |
|---|---|
| Adjustments | Significant items that, due to their exceptional nature, cannot be considered part of the Swisscom Group’s ongoing performance, such as restructuring costs, pension cost (IAS 19 reconciliation) and significant positions in connection with legal cases or other non-recurring items. In addition, significant mergers and acquisitions and the nonretroactive application of changes to IFRS Accounting Principles and Standards may affect comparability with the previous year. |
| At constant exchange rates | Key performance measures considering currency effects (figures for 2026 are translated at the 2025 exchange rate to eliminate the currency effect). |
| EBITDA after lease expense (EBITDAaL) | Operating income before depreciation and amortisation less lease expense (excl. depreciation of indefeasible rights of use (IRU) that are classified as leases under IFRS 16). |
| Capital expenditure | Purchase of property, plant and equipment and intangible assets and acquisition of indefeasible rights of use (IRU) that are classified as leases under IFRS 16. In general, IRUs are paid in full at the beginning of use. |
| Operating free cash flow | Operating income before depreciation and amortisation (EBITDA) less investments in property, plant and equipment and intangible assets as well as acquisition of indefeasible rights of use (IRU) and lease expense. Lease expense includes interest expense on lease liabilities and depreciation of right-of-use assets excluding depreciation of right-of-use assets for IRUs as well as impairments of right-of-use assets. |
| Free cash flow | Cash flows from operating and investing activities excluding cash flows from the purchase and sale of subsidiaries and purchase of and proceeds from equity-accounted investees and other financial assets. |
| Net debt | Financial liabilities and lease liabilities less cash and cash equivalents, listed debt instruments and derivative financial instruments. |