Swisscom books 3.7% increase in Q1 net profit

4 May 2016

Swiss full service provider Swisscom, which also operates in Italy’s broadband sector via its Fastweb unit, has reported net revenue of CHF2.89 billion (USD3.03 billion) for the first three months of 2016, a 0.3% decrease compared to the same period of 2015, which Swisscom attributed to pricing pressure. EBITDA for the period was up 2.9% year-on-year to CHF1.08 billion due to cost reductions in Switzerland, leading to a 3.7% increase in net profit to CHF364 million. The group’s CAPEX for the quarter, meanwhile, was CHF596 million, up 8.6% y-o-y, driven by greater investment in its Swiss broadband network infrastructure: Swisscom’s fibre network passed 2.1 million homes at the end of March 2016, compared to 1.4 million a year earlier. In terms of subscribers, Swisscom counted 6.615 million mobile customers (0.7% y-o-y) in Switzerland, alongside 1.968 million broadband subscriptions (3.1% y-o-y), 2.582 million fixed lines (down 5.6% y-o-y) and 1.367 million pay-TV users, whilst its Italian unit counted a total of 2.124 million broadband lines (+5.5% y-o-y).

Switzerland, Fastweb, Swisscom