Christoph Aeschlimann, CEO of Swisscom.
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Christoph Aeschlimann, CEO of Swisscom.
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It’s hard to navigate the financial markets and the world of fake news when Swisscom publishes its results for 2e trimester. According to the stock market, where the title remained almost stable (-0.6% over the day) with an SMI which barely progressed, we can say that investors were satisfied!
Overall, Swisscom’s results show great stability in a relatively competitive market. The Swiss Stock Exchange has therefore taken note, without more, of the performance of the incumbent operator, which always seems to be more than resistant to its competitors, who are sometimes very aggressive….
Stable turnover
According to the press release from the operator, “the group’s turnover fell by 1.6% to reach 5.494 billion francs. At constant exchange rates, it remained almost stable (-0.1%)”. That said, on the Swiss market, the turnover of the main activity fell slightly by 0.2%, to 4.094 million, specifies the blue giant.
If we take a closer look at the operator’s core business, we see that the turnover of telecommunications services fell by 1.6% to 2.722 billion francs. On the other hand, sales in the IT solutions sector for business customers increased by 7.7% to 589 million francs. Finally, in Italy, Fastweb’s turnover increased by 18 million euros (+1.5%) over one year.
A half-hearted reality
On the ground, we see that Swisscom is at best at a standstill, or even retreating. For example, in the market for fixed Internet access or television, there is stability, despite the invasive campaigns for the new “Blue” offers, i.e. sometimes the ultimate form mowing from the Swisscom customer.
On the mobile side, we see that the competition still does not really work. Despite very aggressive offers from Swisscom’s competitors, who can often claim quality networks, the operator only lost 0.2% to 6.157 million mobile connections. We would have expected a loss of several percent. No doubt, customers and investors blindly trust the former monopolist.
Xavier Studer
The main figures in brief
| 01.01.-30.06.2022 | 01.01.-30.06.2021 | Variation adjusted* |
|
| Net turnover (in millions of CHF) | 5494 | 5583 | -1,6%
(-0,1%) |
| Operating result before depreciation and amortization, EBITDA (in millions of CHF) | 2191 | 2317 | -5,4%
(1,0%) |
| Operating result, EBIT (in millions of CHF) | 999 | 1089 | -8,3% |
| Net profit (in CHF million) | 785 | 1046 | -25,0% |
| Broadband connections, retail segment, in Switzerland (as of June 30, in thousands) | 2026 | 2027 | -0,0% |
| blue TV connections in Switzerland (as of June 30, in thousands) | 1582 | 1582 | 0,0% |
| Mobile communication connections in Switzerland (as of June 30, in thousands) | 6157 | 6169 | -0,2% |
| Fastweb broadband connections (as of June 30, in thousands) | 2712 | 2774 | -2,2% |
| Fastweb mobile communication connections (as of June 30, in thousands) | 2805 | 2 188 | 28,2% |
| Investments (in millions of CHF) | 1053 | 1083 | -2,8% |
| Of which investments in Switzerland (in millions of CHF) | 746 | 752 | -0,8% |
| Group workforce (full-time equivalents as of June 30) | 19 067 | 19 110 | -0,2% |
| Of which employees in Switzerland (full-time equivalents as of June 30) | 15 874 | 15 964 | -0,6% |
- On a comparable basis and at constant exchange rates
