Swisscom books 0.3% drop in annual revenue

9 Feb 2017

State-owned full service provider Swisscom has reported a 0.3% decline in its annual revenue for 2016 to CHF11.643 billion (USD11.675 billion), with revenue growth at its Italian Fastweb division offsetting a 1.1% decline from its domestic operations. EBITDA, meanwhile, grew 4.8% year-on-year to CHF4.293 billion, with Swisscom noting again that cost-savings in Italy helped offset the impact of price erosion, higher sales costs and low subscriber growth in Switzerland. Net income for the year rose 17.8% to CHF1.604 billion, due primarily to non-recurring items. In terms of subscribers, Swisscom’s domestic division counted a total of 6.612 million mobile lines (a decrease of 0.2% y-o-y), whilst broadband lines grew 1.7% annually to 1.992 million and Swisscom TV subscriptions reached 1.476 million (+10.9%). In Italy, Fastweb reported a total of 2.355 million broadband lines, up from 2.201 million a year earlier.

Switzerland, Fastweb, Swisscom