Swisscom reports 1Q results

4 May 2011

Swisscom has reported a 3.1% fall in net revenue for the first three months of 2011 to CHF2.862 billion (USD3.31 billion). Operating income for the quarter climbed 16.3% to CHF648 million, while EBITDA rose 6.4% from CHF1.058 billion in 1Q 2010 to CHF1.126 billion in 1Q 2011. Net income rose by 25.7% to CHF474 million, though this was largely attributable to the provision recognised in the first quarter of 2010 for VAT proceedings against Fastweb, the group’s Italian broadband subsidiary. Capital expenditure for the period rose by CHF39 million, or 10.2%, to CHF422 million, while net debt was reduced by CHF289 million to CHF8.56 billion.

Switzerland, Swisscom