Swisscom reports y/e results

18 Feb 2010

Swisscom said increasing competition will keep its sales and profit under pressure in 2010, after it posted a rise in 2009 profits when lower depreciation charges helped to offset weaker domestic demand. Swisscom said revenue fell by 1.6% in 2009 to CHF12 billion (USD8.59 billion) while full year net profit rose to CHF1.925 billion, helped by a reduction in depreciation and exceptional items relating to the termination of long-term lease agreements in the previous year. The group’s fourth quarter profit was CHF401 million. Swisscom’s Italian subsidiary Fastweb reported a net profit of EUR35.6 million (USD48.6 million) for 2009.

Switzerland, Swisscom