Swisscom Q3 profit dips
October 31, 2024
Swisscom has reported that Q3 group revenue fell slightly by 0.4 per cent to CHF 8,173 million (€8,686m), which translates to a minor increase of 0.3 per cent at constant exchange rates.
In the Swiss core business, revenue fell by 1.7 per cent to CHF 5,966 million. Revenue from telecom services decreased by 1.9 per cent to CHF 3,976 million. In contrast, revenue from IT services for business customers rose by 5 per cent to CHF 897 million. The business in Italy continues to show positive development: the year-on-year revenue growth at Fastweb comes in at €120 million (+6.3 per cent).
The number of Swisscom fixed-line broadband connections fell by 1.8 per cent year-on-year to 1.97 million connections, with the number of TV connections dropping by 2.7 per cent to 1.5 million.
Fastweb, the company’s Italian subsidiary, saw overall revenue rise year-on-year to €2.031 million (up 6.3 per cent).
“Swisscom remains on track with virtually stable revenue and solid operating income,” commented CEO Christoph Aeschlimann with reference to the first nine months of 2024. “With our infrastructure and our products, we are operating at the highest level. This has been confirmed by the fact that we once again won the connect tests for best fixed network and best service. Fastweb continues to enjoy revenue and operating income growth in Italy. The takeover of Vodafone Italia is on schedule.”