Swisscom “in excellent position”
November 2, 2023
Swisscom, the Switzerland-based telco provider, has reported Q3 group revenue rose slightly by 0.3 per cent to CHF 8,202 million (€8.5bn), which translates to an increase of 0.9 per cent at constant exchange rates.
In the Swiss core business, revenue fell slightly by 0.6 per cent to CHF 6,067 million. Revenue from telecommunications services decreased by 1.4 per cent to CHF 4,035 million. In contrast, revenue from IT services for business customers rose by 2.6 per cent to CHF 877 million. The business in Italy continues to show positive development: year-on-year revenue growth at Fastweb comes in at €109 million (+6 per cent).
Consolidated operating income before depreciation and amortisation (EBITDA) was up by 4.1 per cent in a year-on-year comparison to CHF 3,477 million. Excluding non-recurring items and at constant exchange rates, the increase comes to 2.2 per cent.
In the Swiss core business, the drop in revenue was offset by ongoing efficiency improvements, with EBITDA up by 0.4 per cent on a like-for-like basis. The comparable EBITDA at Fastweb was up by 1.9 per cent. Net income rose by 7.9 per cent year-on-year to CHF 1,310 million.
“Exactly 25 years after its IPO, Swisscom is in an excellent position and can face the future with confidence”, commented CEO Christoph Aeschlimann. “In the first nine months of this year, we achieved strong customer satisfaction and excellent financial results, with higher operating income. We recently launched a key product innovation with the new TV-Box 5: The box offers a whole host of new options and is a lot smaller and more energy-efficient at the same time. In Italy, our subsidiary Fastweb continues to report growth in customers, revenue and operating income.”