2023-11-02 06:24:03
Zurich (awp) – Swisscom increased its profitability after nine months. Showing stable revenues, the Swiss telecoms leader posted a net profit of 1.31 billion Swiss francs, up 7.9% over one year. The improvement, however, reflects the provisions that the historic operator had made last year, notably in respect of a fine imposed by the Competition Commission (Comco).
Operating income before interest, taxes, depreciation and amortization (Ebitda) rose to 3.48 billion Swiss francs, up 4.1%, Swisscom said on Thursday. Operating profit (Ebit) climbed to 1.71 billion, a jump of 10.1%.
The improvement in profitability is linked to non-recurring factors: during the first nine months of the 2022 financial year, performance was penalized by provisions for legal disputes of around 82 million Swiss francs. The Comco fine, of nearly 72 million, represented the heaviest burden.
As for revenues, they grew much more modestly, by 0.3% to 8.2 billion Swiss francs. The strength of the franc had a particular impact and this led to a slight adjustment of Swisscom’s annual objective in terms of turnover. The latter is now expected at around 11 billion, compared to 11.1 to 11.2 billion until now. Ebitda should be between 4.6 and 4.7 billion Swiss francs and investments at around 2.3 billion Swiss francs. If the objectives are achieved, shareholders will receive a dividend of 22 Swiss francs per share.
vj/fr
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