Swiss incumbent Swisscom has booked a 9.2% year-on-year drop in net profit to CHF1.387 billion (USD1.466 billion) for the first nine months of 2012 as price erosion and increasing investments ate into the telco’s bottom line. Revenues were down 1.3% against the corresponding period of the previous year to CHF8.427 billion whilst earnings before interest, tax, depreciation and amortisation (EBITDA) were CHF3.363 billion falling by 4.5% on an annualised basis. Heavy investment in fibre-based access networks and the wireless spectrum auction saw CAPEX rise by 36.1% y-o-y to CHF1.458 billion.
Subscriber growth remains positive, with Swisscom’s TV subscriber base increasing by 30.9% to 728,000 whilst its mobile and broadband subscriptions grew by 2.9% and 4.5% to 6.153 million and 1.708 million respectively. Swisscom’s bundled offerings continue to gain traction with 739,000 subscribers on the telco’s multi-play plans.