Investor Relations
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Facts & Figures pro forma as per September 30, 2025Group
Switzerland Italy
Others
Reconciliation
Switzerland B2C Switzerland B2B Switzerland Wholesale
Italy B2C Italy B2B
Italy Wholesale
Switzerland ISF Italy operational data Switzerland operational data
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
E)
23'717
23'498
23'374
P&L
Revenue |
Direct costs |
Indirect costs |
EBITDAaL |
EBITDAaL as % of revenue |
Lease expense |
EBITDA Number of employees (FT |
3'806 | 3'813 | 7'619 | 3'798 | 11'417 | 3'941 | 15'358 |
(1'171) | (1'191) | (2'362) | (1'188) | (3'550) | (1'341) | (4'891) |
(1'268) | (1'371) | (2'639) | (1'260) | (3'899) | (1'524) | (5'423) |
1'367 | 1'251 | 2'618 | 1'350 | 3'968 | 1'076 | 5'044 |
35.9% | 32.8% | 34.4% | 35.5% | 34.8% | 27.3% | 32.8% |
399 | 410 | 809 | 404 | 1'213 | 402 | 1'615 |
1'766 24'360 | 1'661 | 3'427 24'336 | 1'754 | 5'181 23'980 | 1'478 | 6'659 23'839 |
3'759 | 3'687 | 7'446 | 3'729 | 11'175 |
(1'188) | (1'162) | (2'350) | (1'179) | (3'529) |
(1'294) | (1'328) | (2'622) | (1'247) | (3'869) |
1'277 | 1'197 | 2'474 | 1'303 | 3'777 |
34.0% | 32.5% | 33.2% | 34.9% | 33.8% |
409 | 407 | 816 | 406 | 1'222 |
1'686 | 1'604 | 3'290 | 1'709 | 4'999 |
-2.1% | -1.8% | +1.1% |
-0.6% | -0.8% | +1.5% |
-0.8% | -1.0% | -6.1% |
-4.8% +0.7% -3.5% -2.5% | -3.5% +0.5% -2.6% -2.5% | +8.9% -0.2% +6.5% -0.5% |
Free cash flow
EBITDAaL |
CAPEX |
Operating Free Cash Flow (OpFCF) |
1'367 | 1'251 | 2'618 | 1'350 | 3'968 | 1'076 | 5'044 |
(897) | (715) | (1'612) | (733) | (2'345) | (770) | (3'115) |
470 | 536 | 1'006 | 617 | 1'623 | 306 | 1'929 |
1'277 | 1'197 | 2'474 | 1'303 | 3'777 |
(779) | (706) | (1'485) | (686) | (2'171) |
498 | 491 | 989 | 617 | 1'606 |
-4.8% | -3.5% | +8.9% |
-7.4% | -6.4% | -2.8% |
-1.0% | +0.0% | +25.7% |
Adjustments
Revenue |
Currency effect |
At constant currency |
EBITDAaL Provisions for legal proceedings Provisions for contractual risks Restructuring cost Transaction cost Vodafone Italia Adjustments Switzerland Integration cost Vodafone Italia Provisions for contractual risks Adjustments Italy Restructuring cost Adjustments others Pension cost (IAS19 reconciliation) Adjustments Group Adjustments EBITDAaL EBITDAaL adjusted Currency effect At constant currency |
3'806 | 3'813 | 7'619 | 3'798 | 11'417 | 3'941 | 15'358 |
1'367 1'251 2'618 1'350 3'968 1'076 5'044 (24) 0 (24) 0 (24) 0 (24) 13 13 6 7 13 5 18 42 60 (18) 7 (11) 5 (6) 55 49 167 167 167 167 1 1 0 0 0 0 0 1 1 (4) (5) (9) (5) (14) (11) (25) (4) (5) (9) (5) (14) (11) (25) (22) 2 (20) 0 (20) 212 192 1'345 1'253 2'598 1'350 3'948 1'288 5'236 | ||||||
3'759 | 3'687 | 7'446 | 3'729 | 11'175 |
6 | 60 | 66 | 23 | 89 |
1'277 1'197 2'474 1'303 3'777 (90) (90) 52 52 2 2 10 12 0 2 2 (28) (26) 6 13 19 19 38 8 8 6 13 19 27 46 0 0 0 0 0 4 4 8 4 12 4 4 8 4 12 10 19 29 3 32 1'287 1'216 2'503 1'306 3'809 1 14 15 6 21 | ||||
-2.1% | -1.8% | +1.1% |
-1.3% -1.2% +0.1% -4.8% -3.5% +8.9% -3.5% -3.3% +7.4% | ||
-3.0% -2.8% +6.7% | ||
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
(897) (715) (1'612) (733) (2'345) (770) (3'115) 43 7 50 8 58 10 68 43 7 50 8 58 10 68 43 7 50 8 58 10 68 (854) (708) (1'562) (725) (2'287) (760) (3'047) | ||||||
470 536 1'006 617 1'623 306 1'929 (22) 2 (20) 0 (20) 212 192 43 7 50 8 58 10 68 21 9 30 8 38 222 260 491 545 1'036 625 1'661 528 2'189 | ||||||
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
(779) (706) (1'485) (686) (2'171) 7 6 13 8 21 3 16 19 31 50 10 22 32 39 71 10 22 32 39 71 (769) (684) (1'453) (647) (2'100) (1) (11) (12) (4) (16) | ||||||
498 491 989 617 1'606 10 19 29 3 32 10 22 32 39 71 20 41 61 42 103 518 532 1'050 659 1'709 0 3 3 2 5 | ||||||
Change | ||
YtD | Q3/Q3 | Q3/Q2 |
-7.4% | -6.4% | -2.8% |
-8.2% | -10.8% | -5.4% |
-7.5% | -10.2% | -6.3% |
-1.0% | +0.0% | +25.7% |
+2.9% | +5.4% | +23.9% |
+3.2% | +5.8% | +23.6% |
CAPEX |
INWIT consolidation CAPEX |
Integration CAPEX Vodafone Italia |
Adjustments Italy |
Adjustments CAPEX |
CAPEX adjusted |
Currency effect |
At constant currency |
OpFCF Adjustments EBITDAaL Adjustments CAPEX Adjustments OpFCF OpFCF adjusted Currency effect At constant currency |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
s
n and retention costs urchased
% of revenue
(incl. other income)
e
work tructure
(FTE)
13'280
13'158
13'059
Wireless |
Wireline |
Telco services |
IT services |
Hard- and software |
Wholesale |
Other |
External revenue |
Intersegment revenue |
Revenue Network access cost Subscriber acquisitio Goods and service p Other direct costs Direct costs Contribution margin Contribution margin as Workforce expenses Other indirect costs Indirect costs EBITDAaL EBITDAaL as % of revenu CAPEX OpFCF OpFCF as % of revenue Wireless network Wireline access net Backbone and Infras IT Other CAPEX Number of employees |
634 | 635 | 1'269 | 637 | 1'906 | 624 | 2'530 |
686 | 684 | 1'370 | 687 | 2'057 | 683 | 2'740 |
1'320 | 1'319 | 2'639 | 1'324 | 3'963 | 1'307 | 5'270 |
297 | 304 | 601 | 296 | 897 | 294 | 1'191 |
187 | 195 | 382 | 169 | 551 | 250 | 801 |
134 | 123 | 257 | 131 | 388 | 126 | 514 |
35 | 36 | 71 | 38 | 109 | 39 | 148 |
1'973 | 1'977 | 3'950 | 1'958 | 5'908 | 2'016 | 7'924 |
13 | 11 | 24 | 13 | 37 | 15 | 52 |
1'986 (44) (43) (289) (6) (382) 1'604 80.8% (485) (233) (718) 886 44.6% (445) 441 22.2% (90) (172) (32) (129) (22) (445) 13'389 | 1'988 (55) (48) (294) (7) (404) 1'584 79.7% (488) (279) (767) 817 41.1% (420) 397 20.0% (64) (181) (30) (116) (29) (420) | 3'974 (99) (91) (583) (13) (786) 3'188 80.2% (973) (512) (1'485) 1'703 42.9% (865) 838 21.1% (154) (353) (62) (245) (51) (865) 13'361 | 1'971 (73) (51) (271) (5) (400) 1'571 79.7% (443) (281) (724) 847 43.0% (437) 410 20.8% (61) (184) (28) (134) (30) (437) | 5'945 (172) (142) (854) (18) (1'186) 4'759 80.1% (1'416) (793) (2'209) 2'550 42.9% (1'302) 1'248 21.0% (215) (537) (90) (379) (81) (1'302) 13'400 | 2'031 (49) (45) (355) (8) (457) 1'574 77.5% (489) (306) (795) 779 38.4% (423) 356 17.5% (53) (176) (28) (125) (41) (423) | 7'976 (221) (187) (1'209) (26) (1'643) 6'333 79.4% (1'905) (1'099) (3'004) 3'329 41.7% (1'725) 1'604 20.1% (268) (713) (118) (504) (122) (1'725) 13'319 |
617 | 621 | 1'238 | 624 | 1'862 |
677 | 667 | 1'344 | 665 | 2'009 |
1'294 | 1'288 | 2'582 | 1'289 | 3'871 |
304 | 306 | 610 | 296 | 906 |
175 | 169 | 344 | 204 | 548 |
141 | 127 | 268 | 130 | 398 |
35 | 35 | 70 | 35 | 105 |
1'949 | 1'925 | 3'874 | 1'954 | 5'828 |
13 | 10 | 23 | 11 | 34 |
1'962 | 1'935 | 3'897 | 1'965 | 5'862 |
-2.3% | -2.0% | +0.5% |
-2.3% | -3.2% | -0.3% |
-2.3% | -2.6% | +0.1% |
+1.0% | +0.0% | -3.3% |
-0.5% | +20.7% | +20.7% |
+2.6% | -0.8% | +2.4% |
-3.7% | -7.9% | +0.0% |
-1.4% | -0.2% | +1.5% |
-8.1% | -15.4% | +10.0% |
-1.4% -5.2% -13.4% +0.8% +0.0% -1.8% -1.3% -0.4% -8.2% -3.2% +0.4% -5.5% +6.4% -9.8% +2.0% -3.3% -15.0% -1.2% -5.5% -2.5% | -0.3% -9.6% -15.7% +13.3% +40.0% +5.8% -1.8% +1.4% -22.4% -7.9% +3.3% -8.9% +16.3% +18.0% -7.6% -7.1% -25.4% +0.0% -8.9% -2.5% | +1.6% +24.5% +4.9% +11.2% +133.3% +13.4% -1.3% -6.1% -17.7% -10.2% +6.8% -2.9% +16.6% +20.0% -11.9% -13.3% -2.9% +25.0% -2.9% -0.8% |
(44) | (53) | (97) | (66) | (163) |
(39) | (41) | (80) | (43) | (123) |
(278) | (276) | (554) | (307) | (861) |
(8) | (3) | (11) | (7) | (18) |
(369) | (373) | (742) | (423) | (1'165) |
1'593 | 1'562 | 3'155 | 1'542 | 4'697 |
81.2% | 80.7% | 81.0% | 78.5% | 80.1% |
Switzerland
(483) | (478) | (961) | (449) | (1'410) |
(245) | (265) | (510) | (218) | (728) |
(728) | (743) | (1'471) | (667) | (2'138) |
865 | 819 | 1'684 | 875 | 2'559 |
44.1% | 42.3% | 43.2% | 44.5% | 43.7% |
(423) | (410) | (833) | (398) | (1'231) |
442 | 409 | 851 | 477 | 1'328 |
22.5% | 21.1% | 21.8% | 24.3% | 22.7% |
(62) | (60) | (122) | (72) | (194) |
(185) | (193) | (378) | (170) | (548) |
(31) | (30) | (61) | (26) | (87) |
(119) | (103) | (222) | (100) | (322) |
(26) | (24) | (50) | (30) | (80) |
(423) | (410) | (833) | (398) | (1'231) |
Adjustments
+0.4%
+3.3%
+6.8%
-0.4% -0.6% +3.2%
EBITDAaL |
Provisions for legal proceedings |
Provisions for contractual risks |
Restructuring cost |
Transaction cost Vodafone Italia |
Adjustments EBITDAaL |
EBITDAaL adjusted |
EBITDAaL adjusted as % of revenue |
886 | 817 | 1'703 | 847 | 2'550 | 779 | 3'329 |
(24) 6 (18) | 0 7 7 | (24) 13 (11) | 0 5 5 | (24) 18 (6) | 0 13 42 55 | (24) 13 60 49 |
868 824 1'692 852 2'544 834 3'378 | ||||||
43.7% 41.4% 42.6% 43.2% 42.8% 41.1% 42.4% | ||||||
865 | 819 | 1'684 | 875 | 2'559 |
(90) | (90) | |||
52 | 52 | |||
2 | 2 | 10 | 12 | |
0 | 2 | 2 | (28) | (26) |
865 | 821 | 1'686 | 847 | 2'533 |
44.1% | 42.4% | 43.3% | 43.1% | 43.2% |
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
441 397 838 410 1'248 356 1'604 (18) 7 (11) 5 (6) 55 49 (18) 7 (11) 5 (6) 55 49 | ||||||
423 404 827 415 1'242 411 1'653 | ||||||
21.3% 20.3% 20.8% 21.1% 20.9% 20.2% 20.7% | ||||||
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
442 409 851 477 1'328 0 2 2 (28) (26) 0 2 2 (28) (26) | ||||||
442 411 853 449 1'302 | ||||||
22.5% 21.2% 21.9% 22.8% 22.2% | ||||||
YtD Q3/Q3 Q3/Q2
+6.4%
+16.3%
+16.6%
+4.8% +8.2% +9.2%
OpFCF |
Adjustments EBITDAaL |
Adjustments OpFCF |
OpFCF adjusted |
OpFCF adjusted as % of revenue |
+0.4% | +3.3% | +6.8% |
+1.7% | +1.7% | +0.0% |
+0.4% | +3.2% | +6.4% |
EBITDAaL |
Lease expense |
EBITDA |
865 | 819 | 1'684 | 875 | 2'559 |
60 | 61 | 121 | 61 | 182 |
925 | 880 | 1'805 | 936 | 2'741 |
EBITDA reconciliation | ||||||||
886 | 817 | 1'703 | 847 | 2'550 | 779 | 3'329 | ||
60 | 59 | 119 | 60 | 179 | 61 | 240 | ||
946 | 876 | 1'822 | 907 | 2'729 | 840 | 3'569 | ||
Remarks: | ||||||||
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wireless |
Wireline |
Telco services |
Hard- and software |
Other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin Indirect costs EBITDAaL CAPEX OpFCF |
457 | 457 | 914 | 461 | 1'375 | 451 | 1'826 |
485 | 487 | 972 | 489 | 1'461 | 488 | 1'949 |
942 | 944 | 1'886 | 950 | 2'836 | 939 | 3'775 |
103 | 101 | 204 | 100 | 304 | 144 | 448 |
25 | 26 | 51 | 31 | 82 | 32 | 114 |
1'070 | 1'071 | 2'141 | 1'081 | 3'222 | 1'115 | 4'337 |
4 | 3 | 7 | 5 | 12 | 4 | 16 |
1'074 (190) 884 (147) 737 (6) 731 | 1'074 (185) 889 (155) 734 (8) 726 | 2'148 (375) 1'773 (302) 1'471 (14) 1'457 | 1'086 (189) 897 (151) 746 (9) 737 | 3'234 (564) 2'670 (453) 2'217 (23) 2'194 | 1'119 (227) 892 (155) 737 (14) 723 | 4'353 (791) 3'562 (608) 2'954 (37) 2'917 |
446 | 450 | 896 | 455 | 1'351 |
486 | 481 | 967 | 478 | 1'445 |
932 | 931 | 1'863 | 933 | 2'796 |
104 | 102 | 206 | 108 | 314 |
28 | 26 | 54 | 29 | 83 |
1'064 | 1'059 | 2'123 | 1'070 | 3'193 |
3 | 5 | 8 | 3 | 11 |
1'067 | 1'064 | 2'131 | 1'073 | 3'204 |
-1.7% | -1.3% | +1.1% |
-1.1% | -2.2% | -0.6% |
-1.4% | -1.8% | +0.2% |
+3.3% | +8.0% | +5.9% |
+1.2% | -6.5% | +11.5% |
-0.9% | -1.0% | +1.0% |
-8.3% | -40.0% | -40.0% |
-0.9% -0.9% -0.9% -3.3% -0.5% +4.3% -0.5% | -1.2% +0.5% -1.6% -6.6% -0.5% +0.0% -0.5% | +0.8% +3.3% +0.3% -3.4% +1.1% +12.5% +1.0% |
Switzerland B2C
(185) | (184) | (369) | (190) | (559) |
882 | 880 | 1'762 | 883 | 2'645 |
(151) | (146) | (297) | (141) | (438) |
731 | 734 | 1'465 | 742 | 2'207 |
(7) | (8) | (15) | (9) | (24) |
724 | 726 | 1'450 | 733 | 2'183 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wireless |
Wireline |
Telco services |
IT services |
Hard- and software |
Other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin Indirect costs EBITDAaL CAPEX OpFCF |
178 | 176 | 354 | 176 | 530 | 174 | 704 |
200 | 199 | 399 | 198 | 597 | 194 | 791 |
378 | 375 | 753 | 374 | 1'127 | 368 | 1'495 |
297 | 304 | 601 | 296 | 897 | 294 | 1'191 |
84 | 94 | 178 | 68 | 246 | 107 | 353 |
6 | 5 | 11 | 4 | 15 | 3 | 18 |
765 | 778 | 1'543 | 742 | 2'285 | 772 | 3'057 |
8 | 8 | 16 | 10 | 26 | 14 | 40 |
773 (178) 595 (279) 316 (13) 303 | 786 (193) 593 (283) 310 (8) 302 | 1'559 (371) 1'188 (562) 626 (21) 605 | 752 (169) 583 (261) 322 (10) 312 | 2'311 (540) 1'771 (823) 948 (31) 917 | 786 (212) 574 (285) 289 (8) 281 | 3'097 (752) 2'345 (1'108) 1'237 (39) 1'198 |
171 | 170 | 341 | 170 | 511 |
191 | 187 | 378 | 186 | 564 |
362 | 357 | 719 | 356 | 1'075 |
304 | 306 | 610 | 296 | 906 |
71 | 67 | 138 | 95 | 233 |
3 | 5 | 8 | 3 | 11 |
740 | 735 | 1'475 | 750 | 2'225 |
10 | 6 | 16 | 9 | 25 |
750 | 741 | 1'491 | 759 | 2'250 |
-3.6% | -3.4% | +0.0% |
-5.5% | -6.1% | -0.5% |
-4.6% | -4.8% | -0.3% |
+1.0% | +0.0% | -3.3% |
-5.3% | +39.7% | +41.8% |
-26.7% | -25.0% | -40.0% |
-2.6% | +1.1% | +2.0% |
-3.8% | -10.0% | +50.0% |
-2.6% -3.9% -2.3% +0.6% -4.7% +3.2% -5.0% | +0.9% +12.4% -2.4% +0.0% -4.3% -10.0% -4.2% | +2.4% +15.2% -1.2% -8.1% +5.5% -18.2% +6.4% |
Switzerland B2B
(164) | (165) | (329) | (190) | (519) |
586 | 576 | 1'162 | 569 | 1'731 |
(283) | (284) | (567) | (261) | (828) |
303 | 292 | 595 | 308 | 903 |
(12) | (11) | (23) | (9) | (32) |
291 | 281 | 572 | 299 | 871 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wholesale wireless |
Wholesale wireline |
Wholesale other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin Indirect costs EBITDAaL CAPEX OpFCF |
43 | 42 | 85 | 46 | 131 | 43 | 174 |
87 | 79 | 166 | 82 | 248 | 80 | 328 |
4 | 2 | 6 | 3 | 9 | 3 | 12 |
134 | 123 | 257 | 131 | 388 | 126 | 514 |
2 | 3 | 5 | 2 | 7 | 3 | 10 |
136 (43) 93 (1) 92 0 92 | 126 (56) 70 (4) 66 0 66 | 262 (99) 163 (5) 158 0 158 | 133 (72) 61 (4) 57 0 57 | 395 (171) 224 (9) 215 0 215 | 129 (50) 79 (4) 75 0 75 | 524 (221) 303 (13) 290 0 290 |
49 | 41 | 90 | 45 | 135 |
89 | 83 | 172 | 83 | 255 |
3 | 3 | 6 | 2 | 8 |
141 | 127 | 268 | 130 | 398 |
2 | 2 | 4 | 1 | 5 |
143 | 129 | 272 | 131 | 403 |
+3.1% | -2.2% | +9.8% |
+2.8% | +1.2% | +0.0% |
-11.1% | -33.3% | -33.3% |
+2.6% | -0.8% | +2.4% |
-28.6% | -50.0% | -50.0% |
+2.0% -1.2% +4.5% +44.4% +2.8% n.m. +2.8% | -1.5% -5.6% +3.3% +0.0% +3.5% n.m. +3.5% | +1.6% +23.6% -14.9% +0.0% -15.7% n.m. -15.7% |
Switzerland Wholesale
(46) | (55) | (101) | (68) | (169) |
97 | 74 | 171 | 63 | 234 |
(5) | (4) | (9) | (4) | (13) |
92 | 70 | 162 | 59 | 221 |
0 | 0 | 0 | 0 | 0 |
92 | 70 | 162 | 59 | 221 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
(26
(25
(42
(68
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin Indirect costs EBITDAaL CAPEX OpFCF |
4 | 5 | 9 | 4 | 13 | 3 | 16 |
5 | 4 | 9 | 5 | 14 | 5 | 19 |
9 | 9 | 18 | 9 | 27 | 8 | 35 |
0 | 0 | 0 | (2) | (2) | 0 | (2) |
9 | 9 | 18 | 7 | 25 | 8 | 33 |
8) | (302) | (570) | (284) | (854) | (332) | (1'186) |
9) | (293) | (552) | (277) | (829) | (324) | (1'153) |
6) | (404) | (830) | (418) | (1'248) | (400) | (1'648) |
5) | (697) | (1'382) | (695) | (2'077) | (724) | (2'801) |
4 | 4 | 8 | 4 | 12 |
5 | 4 | 9 | 5 | 14 |
9 | 8 | 17 | 9 | 26 |
-7.7% | +0.0% | +0.0% |
+0.0% | +0.0% | +25.0% |
-3.7% -100.0% +4.0% -6.7% -7.0% -5.8% -6.3% | +0.0% -100.0% +28.6% -14.8% -15.9% -8.9% -11.7% | +12.5% -100.0% +0.0% -15.4% -15.9% -2.8% -8.2% |
Switzerland Infrastructure & Support Functions
(1) | 1 | 0 | 0 | 0 |
8 | 9 | 17 | 9 | 26 |
(269) | (286) | (555) | (242) | (797) |
(261) | (277) | (538) | (233) | (771) |
(403) | (392) | (795) | (381) | (1'176) |
(664) | (669) | (1'333) | (614) | (1'947) |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Switzerland
RGUs (k) |
Postpaid |
Prepaid |
Wireless |
Broadband |
TV |
Fixed voice |
Wholesale lines |
Total RGUs |
5'360 5'382 5'417 5'460 |
909 888 862 871 |
6'269 6'270 6'279 6'331 |
1'991 1'982 1'973 1'967 |
1'526 1'511 1'499 1'493 |
1'203 1'181 1'159 1'137 |
704 712 722 731 |
11'693 11'656 11'632 11'659 |
5'511 5'556 5'601 |
854 837 815 |
6'365 6'393 6'416 |
1'953 1'947 1'942 |
1'481 1'475 1'468 |
1'108 1'087 1'065 |
742 749 763 |
11'649 11'651 11'654 |
+3.4% | +3.4% | +0.8% |
-5.5% | -5.5% | -2.6% |
+2.2% | +2.2% | +0.4% |
-1.6% | -1.6% | -0.3% |
-2.1% | -2.1% | -0.5% |
-8.1% | -8.1% | -2.0% |
+5.7% | +5.7% | +1.9% |
+0.2% | +0.2% | +0.0% |
lying products (CHF)
stpaid epaid ess
(annualised)
e postpaid value e postpaid
eline
(annualised) e broadband
Switzerland B2C
RGUs (k) |
Wireless |
Broadband |
TV |
Fixed voice |
Total RGUs ARPU under ARPUP Wireless RGUs (k) Postpaid Prepaid Wireless ARPU (CHF) ARPU po ARPU pr ARPU wirel Churn rate Churn rat Churn rat Wireline ARPU (CHF) ARPU wir Churn rate Churn rat |
4'288 4'284 4'278 4'320 |
1'709 1'703 1'697 1'695 |
1'462 1'448 1'436 1'431 |
988 969 951 933 |
8'447 8'404 8'362 8'379 37 38 37 38 38 38 38 |
3'379 3'396 3'416 3'449 909 888 862 871 4'288 4'284 4'278 4'320 44 44 44 44 44 43 44 4 4 4 4 4 4 4 35 36 36 36 36 35 35 9.3% 7.5% 8.4% 8.0% 8.3% 7.9% 8.2% 10.1% 8.4% 9.2% 8.9% 9.1% 8.9% 9.1% |
39 40 39 40 40 40 40 9.7% 8.3% 9.0% 8.8% 8.9% 8.3% 8.8% |
4'327 4'330 4'335 |
1'684 1'681 1'679 |
1'421 1'415 1'409 |
914 898 881 |
8'346 8'324 8'304 37 37 37 38 37 |
3'473 3'493 3'520 854 837 815 4'327 4'330 4'335 42 42 42 42 42 3 4 3 4 4 34 35 35 35 35 8.9% 6.5% 7.7% 6.8% 7.4% 9.9% 7.6% 8.8% 7.9% 8.5% |
40 40 40 40 40 10.0% 7.7% 8.9% 7.7% 8.5% |
+1.3% | +1.3% | +0.1% |
-1.1% | -1.1% | -0.1% |
-1.9% | -1.9% | -0.4% |
-7.4% | -7.4% | -1.9% |
-0.7% -2.6% | -0.7% +0.0% | -0.2% +2.7% |
+3.0% +3.0% +0.8% -5.5% -5.5% -2.6% +1.3% +1.3% +0.1% -4.5% -4.5% +0.0% +0.0% +0.0% +0.0% -2.8% -2.8% +0.0% | ||
+0.0% +0.0% +0.0% | ||
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
Change | ||
YtD | Q3/Q3 | Q3/Q2 |
+0.8% | +0.8% | +0.6% |
-1.1% | -1.1% | -0.2% |
FM converged households (k) |
Postpaid value HHs * |
FM converged postpaid value HHs (in %) |
BB HHs ** |
FM converged BB HHs (in %) |
* HHs with at least 1 postpaid value subscription (all brands) |
** HHs with at least 1 BB connection (all brands) |
2'354 |
49% |
1'710 |
67% |
2'325 |
49% |
1'704 |
67% |
2'321 |
49% |
1'697 |
67% |
2'337 |
49% |
1'695 |
67% |
2'316 |
49% |
1'684 |
67% |
2'324 |
49% |
1'682 |
67% |
2'339 |
48% |
1'678 |
67% |
ng products (CHF)
ss
Switzerland B2B
RGUs (k) |
Wireless |
Broadband |
TV |
Fixed voice |
Total RGUs ARPU underlyi ARPUP Wireless ARPU (CHF) ARPU wirele |
1'981 1'986 2'001 2'011 |
282 279 276 272 |
64 63 63 62 |
215 212 208 204 |
2'542 2'540 2'548 2'549 48 48 48 47 48 46 47 |
26 26 26 26 26 25 26 |
2'038 2'063 2'081 |
269 266 263 |
60 60 59 |
194 189 184 |
2'561 2'578 2'587 46 45 45 44 45 |
25 24 25 24 24 |
+4.0% | +4.0% | +0.9% |
-4.7% | -4.7% | -1.1% |
-6.3% | -6.3% | -1.7% |
-11.5% | -11.5% | -2.6% |
+1.5% -6.3% | +1.5% -6.4% | +0.3% -2.2% |
-7.7% -7.7% +0.0% | ||
Switzerland Wholesale
731
722
712
704
763
749
742
+5.7%
+5.7%
+1.9%
RGUs (k) |
Wholesale lines |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
Italy |
(in EUR million) |
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
s
n and retention costs urchased
% of revenue
(incl. other income)
e
work tructure
(FTE)
7'220
7'165
7'152
Wireless |
Wireline |
Telco services |
IT services |
Hard- and software |
Wholesale |
Other |
External revenue |
Intersegment revenue |
Revenue Network access cost Subscriber acquisitio Goods and service p Other direct costs Direct costs Contribution margin Contribution margin as Workforce expenses Other indirect costs Indirect costs EBITDAaL EBITDAaL as % of revenu CAPEX OpFCF OpFCF as % of revenue Wireless network Wireline access net Backbone and Infras IT Other CAPEX Number of employees |
646 | 638 | 1'284 | 636 | 1'920 | 636 | 2'556 |
682 | 673 | 1'355 | 680 | 2'035 | 688 | 2'723 |
1'328 | 1'311 | 2'639 | 1'316 | 3'955 | 1'324 | 5'279 |
185 | 188 | 373 | 201 | 574 | 227 | 801 |
118 | 103 | 221 | 113 | 334 | 178 | 512 |
171 | 158 | 329 | 179 | 508 | 177 | 685 |
23 | 18 | 41 | 24 | 65 | 24 | 89 |
1'825 | 1'778 | 3'603 | 1'833 | 5'436 | 1'930 | 7'366 |
1 | 2 | 3 | 1 | 4 | 2 | 6 |
1'826 (369) (111) (327) (21) (828) 998 54.7% (117) (401) (518) 480 26.3% (477) 3 0.2% (122) (37) (47) (106) (165) (477) 7'637 | 1'780 (342) (110) (330) (19) (801) 979 55.0% (150) (413) (563) 416 23.4% (304) 112 6.3% (75) (20) (27) (44) (138) (304) | 3'606 (711) (221) (657) (40) (1'629) 1'977 54.8% (267) (814) (1'081) 896 24.8% (781) 115 3.2% (197) (57) (74) (150) (303) (781) 7'650 | 1'834 (379) (107) (327) (15) (828) 1'006 54.9% (106) (404) (510) 496 27.0% (313) 183 10.0% (74) (24) (27) (41) (147) (313) | 5'440 (1'090) (328) (984) (55) (2'457) 2'983 54.8% (373) (1'218) (1'591) 1'392 25.6% (1'094) 298 5.5% (271) (81) (101) (191) (450) (1'094) 7'266 | 1'932 (383) (106) (424) (22) (935) 997 51.6% (116) (587) (703) 294 15.2% (378) (84) -4.3% (91) (28) (37) (64) (158) (378) | 7'372 (1'473) (434) (1'408) (77) (3'392) 3'980 54.0% (489) (1'805) (2'294) 1'686 22.9% (1'472) 214 2.9% (362) (109) (138) (255) (608) (1'472) 7'251 |
617 | 606 | 1'223 | 611 | 1'834 |
664 | 652 | 1'316 | 639 | 1'955 |
1'281 | 1'258 | 2'539 | 1'250 | 3'789 |
202 | 199 | 401 | 204 | 605 |
129 | 112 | 241 | 105 | 346 |
164 | 173 | 337 | 189 | 526 |
41 | 31 | 72 | 41 | 113 |
1'817 | 1'773 | 3'590 | 1'789 | 5'379 |
1 | 2 | 3 | 1 | 4 |
1'818 | 1'775 | 3'593 | 1'790 | 5'383 |
-4.5% | -3.9% | +0.8% |
-3.9% | -6.0% | -2.0% |
-4.2% | -5.0% | -0.6% |
+5.4% | +1.5% | +2.5% |
+3.6% | -7.1% | -6.3% |
+3.5% | +5.6% | +9.2% |
+73.8% | +70.8% | +32.3% |
-1.0% | -2.4% | +0.9% |
+0.0% | +0.0% | -50.0% |
-1.0% +1.6% -2.4% +3.0% -3.6% +1.5% -3.2% -2.7% +5.3% +3.4% -10.6% -7.6% -21.8% -18.5% -3.7% -2.0% -23.6% +3.8% -7.6% -1.6% | -2.4% -4.7% -3.7% -1.8% +6.7% -3.3% -1.7% +15.1% +6.7% +8.4% -12.1% -1.6% -30.1% -8.1% +0.0% +3.7% -22.0% +6.1% -1.6% -1.6% | +0.8% -2.2% -3.7% -5.6% +0.0% -3.7% +4.9% -0.8% -0.7% -0.7% +13.0% -4.0% +96.9% -11.7% +14.3% +12.0% -15.8% -2.5% -4.0% -0.2% |
(377) | (369) | (746) | (361) | (1'107) |
(110) | (107) | (217) | (103) | (320) |
(353) | (340) | (693) | (321) | (1'014) |
(21) | (16) | (37) | (16) | (53) |
(861) | (832) | (1'693) | (801) | (2'494) |
957 | 943 | 1'900 | 989 | 2'889 |
52.6% | 53.1% | 52.9% | 55.3% | 53.7% |
Italy
(118) | (123) | (241) | (122) | (363) |
(417) | (434) | (851) | (431) | (1'282) |
(535) | (557) | (1'092) | (553) | (1'645) |
422 | 386 | 808 | 436 | 1'244 |
23.2% | 21.7% | 22.5% | 24.4% | 23.1% |
(382) | (321) | (703) | (308) | (1'011) |
40 | 65 | 105 | 128 | 233 |
2.2% | 3.7% | 2.9% | 7.2% | 4.3% |
(76) | (77) | (153) | (68) | (221) |
(33) | (21) | (54) | (24) | (78) |
(46) | (25) | (71) | (28) | (99) |
(76) | (38) | (114) | (32) | (146) |
(151) | (160) | (311) | (156) | (467) |
(382) | (321) | (703) | (308) | (1'011) |
Adjustments
-10.6%
-12.1%
+13.0%
-7.1% -6.3% +16.3%
EBITDAaL |
Integration cost Vodafone Italia |
Provisions for contractual risks |
Adjustments EBITDAaL |
EBITDAaL adjusted |
EBITDAaL adjusted as % of revenue |
480 | 416 | 896 | 496 | 1'392 | 294 | 1'686 |
176 176 | 176 176 | |||||
480 416 896 496 1'392 470 1'862 | ||||||
26.3% 23.4% 24.8% 27.0% 25.6% 24.3% 25.3% | ||||||
422 | 386 | 808 | 436 | 1'244 |
6 | 14 | 20 | 20 | 40 |
9 | 9 | |||
6 | 14 | 20 | 29 | 49 |
428 | 400 | 828 | 465 | 1'293 |
23.5% | 22.5% | 23.0% | 26.0% | 24.0% |
Italy |
(in EUR million) |
CAPEX INWIT consolidation CAPEX Integration CAPEX Vodafone Italia Adjustments CAPEX CAPEX adjusted |
OpFCF Adjustments EBITDAaL Adjustments CAPEX Adjustments OpFCF OpFCF adjusted |
OpFCF adjusted as % of revenue |
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
(477) (304) (781) (313) (1'094) (378) (1'472) 46 6 52 9 61 10 71 46 6 52 9 61 10 71 | ||||||
(431) (298) (729) (304) (1'033) (368) (1'401) | ||||||
3 112 115 183 298 (84) 214 0 0 0 0 0 176 176 46 6 52 9 61 10 71 46 6 52 9 61 186 247 | ||||||
49 118 167 192 359 102 461 | ||||||
2.7% 6.6% 4.6% 10.5% 6.6% 5.3% 6.3% | ||||||
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
(382) (321) (703) (308) (1'011) 8 6 14 8 22 3 17 20 33 53 11 23 34 41 75 | ||||||
(371) (298) (669) (267) (936) | ||||||
40 65 105 128 233 6 14 20 29 49 11 23 34 41 75 17 37 54 70 124 | ||||||
57 102 159 198 357 | ||||||
3.1% 5.7% 4.4% 11.1% 6.6% | ||||||
Change | ||
YtD | Q3/Q3 | Q3/Q2 |
-7.6% -1.6% -4.0% | ||
-9.4% -12.2% -10.4% -21.8% -30.1% +96.9% | ||
-0.6% +3.1% +94.1% | ||
EBITDA reconciliation
EBITDAaL |
Lease expense |
EBITDA |
480 | 416 | 896 | 496 | 1'392 | 294 | 1'686 |
357 | 360 | 717 | 362 | 1'079 | 362 | 1'441 |
837 | 776 | 1'613 | 858 | 2'471 | 656 | 3'127 |
422 | 386 | 808 | 436 | 1'244 |
367 | 370 | 737 | 370 | 1'107 |
789 | 756 | 1'545 | 806 | 2'351 |
-10.6% | -12.1% | +13.0% |
+2.6% | +2.2% | +0.0% |
-4.9% | -6.1% | +6.6% |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
Italy B2C |
(in EUR million) |
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wireless |
Wireline |
Telco services |
Hard- and software |
Other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin |
443 | 437 | 880 | 433 | 1'313 | 432 | 1'745 |
363 | 356 | 719 | 356 | 1'075 | 355 | 1'430 |
806 | 793 | 1'599 | 789 | 2'388 | 787 | 3'175 |
65 | 43 | 108 | 55 | 163 | 67 | 230 |
6 | 3 | 9 | 7 | 16 | 7 | 23 |
877 | 839 | 1'716 | 851 | 2'567 | 861 | 3'428 |
0 | 1 | 1 | 0 | 1 | 1 | 2 |
877 (389) 488 | 840 (372) 468 | 1'717 (761) 956 | 851 (385) 466 | 2'568 (1'146) 1'422 | 862 (394) 468 | 3'430 (1'540) 1'890 |
419 | 412 | 831 | 417 | 1'248 |
352 | 339 | 691 | 333 | 1'024 |
771 | 751 | 1'522 | 750 | 2'272 |
63 | 56 | 119 | 56 | 175 |
20 | 11 | 31 | 16 | 47 |
854 | 818 | 1'672 | 822 | 2'494 |
0 | 1 | 1 | 0 | 1 |
854 | 819 | 1'673 | 822 | 2'495 |
-5.0% | -3.7% | +1.2% |
-4.7% | -6.5% | -1.8% |
-4.9% | -4.9% | -0.1% |
+7.4% | +1.8% | +0.0% |
+193.8% | +128.6% | +45.5% |
-2.8% | -3.4% | +0.5% |
+0.0% | n.m. | -100.0% |
-2.8% +1.5% -6.3% | -3.4% -2.3% -4.3% | +0.4% -2.6% +3.0% |
Italy B2C
(401) | (386) | (787) | (376) | (1'163) |
453 | 433 | 886 | 446 | 1'332 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
Italy B2B |
(in EUR million) |
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wireless |
Wireline |
Telco services |
IT services |
Hard- and software |
Other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin |
203 | 200 | 403 | 204 | 607 | 204 | 811 |
319 | 318 | 637 | 323 | 960 | 333 | 1'293 |
522 | 518 | 1'040 | 527 | 1'567 | 537 | 2'104 |
185 | 188 | 373 | 201 | 574 | 227 | 801 |
53 | 60 | 113 | 58 | 171 | 111 | 282 |
17 | 15 | 32 | 17 | 49 | 17 | 66 |
777 | 781 | 1'558 | 803 | 2'361 | 892 | 3'253 |
2 | 3 | 5 | 2 | 7 | 4 | 11 |
779 (378) 401 | 784 (379) 405 | 1'563 (757) 806 | 805 (388) 417 | 2'368 (1'145) 1'223 | 896 (483) 413 | 3'264 (1'628) 1'636 |
197 | 194 | 391 | 195 | 586 |
313 | 313 | 626 | 305 | 931 |
510 | 507 | 1'017 | 500 | 1'517 |
202 | 199 | 401 | 204 | 605 |
65 | 57 | 122 | 49 | 171 |
22 | 19 | 41 | 25 | 66 |
799 | 782 | 1'581 | 778 | 2'359 |
1 | 1 | 2 | 1 | 3 |
800 | 783 | 1'583 | 779 | 2'362 |
-3.5% | -4.4% | +0.5% |
-3.0% | -5.6% | -2.6% |
-3.2% | -5.1% | -1.4% |
+5.4% | +1.5% | +2.5% |
+0.0% | -15.5% | -14.0% |
+34.7% | +47.1% | +31.6% |
-0.1% | -3.1% | -0.5% |
-57.1% | -50.0% | +0.0% |
-0.3% +1.5% -1.9% | -3.2% -3.9% -2.6% | -0.5% -3.1% +2.0% |
Italy B2B
(404) | (385) | (789) | (373) | (1'162) |
396 | 398 | 794 | 406 | 1'200 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
Italy Wholesale |
(in EUR million) |
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Wholesale wireless |
Wholesale wireline |
Wholesale other |
External revenue |
Intersegment revenue |
Revenue Direct costs Contribution margin |
68 | 71 | 139 | 85 | 224 | 71 | 295 |
74 | 75 | 149 | 84 | 233 | 89 | 322 |
29 | 12 | 41 | 10 | 51 | 17 | 68 |
171 | 158 | 329 | 179 | 508 | 177 | 685 |
4 | 14 | 18 | 4 | 22 | 6 | 28 |
175 (61) 114 | 172 (52) 120 | 347 (113) 234 | 183 (57) 126 | 530 (170) 360 | 183 (65) 118 | 713 (235) 478 |
70 | 80 | 150 | 93 | 243 |
84 | 87 | 171 | 95 | 266 |
10 | 6 | 16 | 1 | 17 |
164 | 173 | 337 | 189 | 526 |
2 | 2 | 4 | 3 | 7 |
166 | 175 | 341 | 192 | 533 |
+8.5% | +9.4% | +16.3% |
+14.2% | +13.1% | +9.2% |
-66.7% | -90.0% | -83.3% |
+3.5% | +5.6% | +9.2% |
-68.2% | -25.0% | +50.0% |
+0.6% +1.8% +0.0% | +4.9% -5.3% +9.5% | +9.7% -14.3% +23.2% |
Italy Wholesale
(56) | (63) | (119) | (54) | (173) |
110 | 112 | 222 | 138 | 360 |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Italy
RGUs (k) |
Wireless |
Broadband |
Wholesale lines |
Total RGUs |
20'174 20'116 20'110 20'216 |
6'058 5'992 5'946 5'916 |
720 778 832 905 |
26'952 26'886 26'888 27'037 |
20'215 20'207 20'168 |
5'849 5'792 5'759 |
968 1'018 1'063 |
27'032 27'017 26'990 |
+0.3% | +0.3% | -0.2% |
-3.1% | -3.1% | -0.6% |
+27.8% | +27.8% | +4.4% |
+0.4% | +0.4% | -0.1% |
ss
nualised) wireless
e
nualised) broadband
Italy B2C
RGUs (k) |
Wireless |
Broadband |
Total RGUs Wireless ARPU (EUR) ARPU wirele Churn rate (an Churn rate Wireline ARPU (EUR) ARPU wirelin Churn rate (an Churn rate |
16'360 16'195 16'085 16'039 |
4'921 4'853 4'807 4'779 |
21'281 21'048 20'892 20'818 |
9 9 9 9 9 9 9 21.6% 23.8% 22.7% 22.7% 22.7% 20.5% 22.2% |
24 24 24 24 24 24 24 19.8% 20.2% 20.0% 18.3% 19.5% 20.2% 19.6% |
15'932 15'818 15'739 |
4'715 4'663 4'637 |
20'647 20'481 20'376 |
9 9 9 9 9 20.0% 18.2% 19.1% 18.3% 18.9% |
24 24 24 24 24 21.2% 18.4% 19.8% 15.8% 18.5% |
-2.2% | -2.2% | -0.5% |
-3.5% | -3.5% | -0.6% |
-2.5% | -2.5% | -0.5% |
+0.0% +0.0% +0.0% | ||
+0.0% +0.0% +0.0% | ||
Italy B2B
RGUs (k) |
Wireless |
Broadband |
Total RGUs |
3'814 3'921 4'025 4'177 |
1'137 1'139 1'139 1'137 |
4'951 5'060 5'164 5'314 |
4'283 4'389 4'429 |
1'134 1'129 1'122 |
5'417 5'518 5'551 |
+10.0% | +10.0% | +0.9% |
-1.5% | -1.5% | -0.6% |
+7.5% | +7.5% | +0.6% |
Italy Wholesale
905
832
778
720
1'063
1'018
968
+27.8%
+27.8%
+4.4%
RGUs (k) |
Wholesale lines |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
3'217
3'175
3'163
103 | 109 | 212 | 104 | 316 | 111 | 427 |
149 | 176 | 325 | 179 | 504 | 180 | 684 |
252 (20) (106) (96) (202) 30 11.9% (8) 22 8.7% 3'334 | 285 (23) (109) (117) (226) 36 12.6% (10) 26 9.1% | 537 (43) (215) (213) (428) 66 12.3% (18) 48 8.9% 3'325 | 283 (20) (99) (126) (225) 38 13.4% (11) 27 9.5% | 820 (63) (314) (339) (653) 104 12.7% (29) 75 9.1% 3'314 | 291 (26) (102) (131) (233) 32 11.0% (10) 22 7.6% | 1'111 (89) (416) (470) (886) 136 12.2% (39) 97 8.7% 3'269 |
94 | 100 | 194 | 103 | 297 |
165 | 170 | 335 | 152 | 487 |
259 | 270 | 529 | 255 | 784 |
-6.0% | -1.0% | +3.0% |
-3.4% | -15.1% | -10.6% |
-4.4% +4.8% -6.1% -3.8% -4.9% -6.7% -10.3% -5.3% -4.6% | -9.9% +10.0% -4.0% -17.5% -11.6% -10.5% -9.1% -11.1% -4.6% | -5.6% +0.0% -4.0% -11.1% -7.9% +6.3% +42.9% -4.0% -0.4% |
External revenue Intersegment revenue Revenue Direct costs |
Workforce expenses |
Other indirect costs (incl. other income) |
Indirect costs |
EBITDAaL |
EBITDAaL as % of revenue CAPEX OpFCF OpFCF as % of revenue Number of employees (FTE) |
(22) | (22) | (44) | (22) | (66) |
(101) | (99) | (200) | (95) | (295) |
(105) | (117) | (222) | (104) | (326) |
(206) | (216) | (422) | (199) | (621) |
31 | 32 | 63 | 34 | 97 |
12.0% | 11.9% | 11.9% | 13.3% | 12.4% |
Others
EBITDAaL |
Restructuring cost |
Adjustments EBITDAaL |
EBITDAaL adjusted |
EBITDAaL adjusted as % of revenue |
OpFCF |
Adjustments EBITDAaL |
Adjustments OpFCF |
OpFCF adjusted |
OpFCF adjusted as % of revenue |
(9) | (7) | (16) | (10) | (26) |
22 | 25 | 47 | 24 | 71 |
8.5% | 9.3% | 8.9% | 9.4% | 9.1% |
Adjustments
30 | 36 | 66 | 38 | 104 | 32 | 136 |
1 | 1 | |||||
1 | 1 | |||||
30 | 36 | 66 | 38 | 104 | 33 | 137 |
11.9% | 12.6% | 12.3% | 13.4% | 12.7% | 11.3% | 12.3% |
22 | 26 | 48 | 27 | 75 | 22 | 97 |
0 | 0 | 0 | 0 | 0 | 1 | 1 |
0 | 0 | 0 | 0 | 0 | 1 | 1 |
22 | 26 | 48 | 27 | 75 | 23 | 98 |
8.7% | 9.1% | 8.9% | 9.5% | 9.1% | 7.9% | 8.8% |
31 | 32 | 63 | 34 | 97 |
0 | 0 | 0 | 0 | 0 |
31 | 32 | 63 | 34 | 97 |
12.0% | 11.9% | 11.9% | 13.3% | 12.4% |
22 | 25 | 47 | 24 | 71 |
0 | 0 | 0 | 0 | 0 |
0 | 0 | 0 | 0 | 0 |
22 | 25 | 47 | 24 | 71 |
8.5% | 9.3% | 8.9% | 9.4% | 9.1% |
-6.7% | -10.5% | +6.3% |
-6.7% -10.5% +6.3% -5.3% -11.1% -4.0% | ||
-5.3% -11.1% -4.0% | ||
EBITDAaL |
Lease expense |
EBITDA |
31 | 32 | 63 | 34 | 97 |
1 | 1 | 2 | 0 | 2 |
32 | 33 | 65 | 34 | 99 |
-6.7% | -10.5% | +6.3% |
+0.0% | -100.0% | -100.0% |
-6.6% | -12.8% | +3.0% |
EBITDA reconciliation | ||||||||
30 | 36 | 66 | 38 | 104 | 32 | 136 | ||
1 | 0 | 1 | 1 | 2 | 2 | 4 | ||
31 | 36 | 67 | 39 | 106 | 34 | 140 | ||
Remarks: | ||||||||
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
Change
2024 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
2025 | ||||||
Q1 | Q2 | 30.06. | Q3 | 30.09. | Q4 | 31.12. |
YtD Q3/Q3 Q3/Q2
Reconciliation Group (in CHF million)
Revenue |
B2C |
B2B |
Wholesale |
Infrastructure & Support Functions |
Elimination |
Switzerland |
Italy |
Others |
Elimination |
Revenue EBITDAaL B2C B2B Wholesale Infrastructure & Support Functions Elimination Switzerland Italy Others Reconciliation pension cost Elimination EBITDAaL CAPEX B2C B2B Wholesale Infrastructure & Support Functions Elimination Switzerland Italy Others Elimination CAPEX |
1'074 | 1'074 | 2'148 | 1'086 | 3'234 | 1'119 | 4'353 |
773 | 786 | 1'559 | 752 | 2'311 | 786 | 3'097 |
136 | 126 | 262 | 133 | 395 | 129 | 524 |
9 | 9 | 18 | 9 | 27 | 8 | 35 |
(6) | (7) | (13) | (9) | (22) | (11) | (33) |
1'986 | 1'988 | 3'974 | 1'971 | 5'945 | 2'031 | 7'976 |
1'731 | 1'728 | 3'459 | 1'738 | 5'197 | 1'816 | 7'013 |
252 | 285 | 537 | 283 | 820 | 291 | 1'111 |
(163) | (188) | (351) | (194) | (545) | (197) | (742) |
3'806 | 3'813 | 7'619 | 3'798 | 11'417 | 3'941 | 15'358 |
737 734 1'471 746 2'217 737 2'954 316 310 626 322 948 289 1'237 92 66 158 57 215 75 290 (259) (293) (552) (277) (829) (324) (1'153) 0 0 0 (1) (1) 2 1 886 817 1'703 847 2'550 779 3'329 455 405 860 470 1'330 273 1'603 30 36 66 38 104 32 136 4 5 9 5 14 11 25 (8) (12) (20) (10) (30) (19) (49) 1'367 1'251 2'618 1'350 3'968 1'076 5'044 | ||||||
(6) (8) (14) (9) (23) (14) (37) (13) (8) (21) (10) (31) (8) (39) 0 0 0 0 0 0 0 (426) (404) (830) (418) (1'248) (400) (1'648) 0 0 0 0 0 (1) (1) (445) (420) (865) (437) (1'302) (423) (1'725) (452) (298) (750) (295) (1'045) (355) (1'400) (8) (10) (18) (11) (29) (10) (39) 8 13 21 10 31 18 49 (897) (715) (1'612) (733) (2'345) (770) (3'115) | ||||||
1'067 | 1'064 | 2'131 | 1'073 | 3'204 |
750 | 741 | 1'491 | 759 | 2'250 |
143 | 129 | 272 | 131 | 403 |
9 | 8 | 17 | 9 | 26 |
(7) | (7) | (14) | (7) | (21) |
1'962 | 1'935 | 3'897 | 1'965 | 5'862 |
1'717 | 1'663 | 3'380 | 1'673 | 5'053 |
259 | 270 | 529 | 255 | 784 |
(179) | (181) | (360) | (164) | (524) |
3'759 | 3'687 | 7'446 | 3'729 | 11'175 |
731 734 1'465 742 2'207 303 292 595 308 903 92 70 162 59 221 (261) (277) (538) (233) (771) 0 0 0 (1) (1) 865 819 1'684 875 2'559 398 362 760 408 1'168 31 32 63 34 97 (4) (4) (8) (4) (12) (13) (12) (25) (10) (35) 1'277 1'197 2'474 1'303 3'777 | ||||
(7) (8) (15) (9) (24) (12) (11) (23) (9) (32) 0 0 0 0 0 (403) (392) (795) (381) (1'176) (1) 1 0 1 1 (423) (410) (833) (398) (1'231) (360) (301) (661) (288) (949) (9) (7) (16) (10) (26) 13 12 25 10 35 (779) (706) (1'485) (686) (2'171) | ||||
-0.9% | -1.2% | +0.8% |
-2.6% | +0.9% | +2.4% |
+2.0% | -1.5% | +1.6% |
-3.7% | +0.0% | +12.5% |
-4.5% | -22.2% | +0.0% |
-1.4% | -0.3% | +1.6% |
-2.8% | -3.7% | +0.6% |
-4.4% | -9.9% | -5.6% |
-3.9% | -15.5% | -9.4% |
-2.1% | -1.8% | +1.1% |
-0.5% -0.5% +1.1% -4.7% -4.3% +5.5% +2.8% +3.5% -15.7% -7.0% -15.9% -15.9% +0.0% +0.0% n.m. +0.4% +3.3% +6.8% -12.2% -13.2% +12.7% -6.7% -10.5% +6.3% n.m. n.m. +0.0% +16.7% +0.0% -16.7% -4.8% -3.5% +8.9% | ||
+4.3% +0.0% +12.5% +3.2% -10.0% -18.2% n.m. n.m. n.m. -5.8% -8.9% -2.8% n.m. n.m. +0.0% -5.5% -8.9% -2.9% -9.2% -2.4% -4.3% -10.3% -9.1% +42.9% +12.9% +0.0% -16.7% -7.4% -6.4% -2.8% | ||
Reconciliation | 2024 | 2025 | Change | ||||||
Q1 Q2 30.06. | Q3 30.09. Q4 31.12. | Q1 Q2 30.06. | Q3 30.09. Q4 31.12. | YtD Q3/Q3 | Q3/Q2 | ||||
731 726 1'457 | 737 2'194 723 2'917 | 724 726 1'450 | 733 2'183 | -0.5% -0.5% | +1.0% | ||||
303 302 605 | 312 917 281 1'198 | 291 281 572 | 299 871 | -5.0% -4.2% | +6.4% | ||||
92 66 158 | 57 215 75 290 | 92 70 162 | 59 221 | +2.8% +3.5% | -15.7% | ||||
(685) (697) (1'382) | (695) (2'077) (724) (2'801) | (664) (669) (1'333) | (614) (1'947) | -6.3% -11.7% | -8.2% | ||||
0 0 0 | (1) (1) 1 0 | (1) 1 0 | 0 0 | -100.0% -100.0% | -100.0% | ||||
441 397 838 | 410 1'248 356 1'604 | 442 409 851 | 477 1'328 | +6.4% +16.3% | +16.6% | ||||
3 107 110 | 175 285 (82) 203 | 38 61 99 | 120 219 | -23.2% -31.4% | +96.7% | ||||
22 26 48 | 27 75 22 97 | 22 25 47 | 24 71 | -5.3% -11.1% | -4.0% | ||||
4 5 9 | 5 14 11 25 | (4) (4) (8) | (4) (12) | n.m. n.m. | +0.0% | ||||
0 1 1 | 0 1 (1) 0 | 0 0 0 | 0 0 | -100.0% n.m. | n.m. | ||||
470 536 1'006 | 617 1'623 306 1'929 | 498 491 989 | 617 1'606 | -1.0% +0.0% | +25.7% | ||||
Reconciliation Italy (in EUR million) | |||||||||
877 840 1'717 | 851 2'568 862 3'430 | ||||||||
779 784 1'563 | 805 2'368 896 3'264 | ||||||||
175 172 347 | 183 530 183 713 | ||||||||
(5) (16) (21) | (5) (26) (9) (35) | ||||||||
n margin | 1'826 1'780 3'606 | 1'834 5'440 1'932 7'372 | |||||||
n margin | 488 468 956 466 1'422 468 1'890 401 405 806 417 1'223 413 1'636 114 120 234 126 360 118 478 (5) (14) (19) (3) (22) (2) (24) 998 979 1'977 1'006 2'983 997 3'980 | ||||||||
854 | 819 | 1'673 | 822 | 2'495 |
800 | 783 | 1'583 | 779 | 2'362 |
166 | 175 | 341 | 192 | 533 |
(2) | (2) | (4) | (3) | (7) |
1'818 | 1'775 | 3'593 | 1'790 | 5'383 |
453 433 886 446 1'332 396 398 794 406 1'200 110 112 222 138 360 (2) 0 (2) (1) (3) 957 943 1'900 989 2'889 | ||||
-2.8% | -3.4% | +0.4% |
-0.3% | -3.2% | -0.5% |
+0.6% | +4.9% | +9.7% |
-73.1% | -40.0% | +50.0% |
-1.0% | -2.4% | +0.8% |
-6.3% -4.3% +3.0% -1.9% -2.6% +2.0% +0.0% +9.5% +23.2% -86.4% -66.7% n.m. -3.2% -1.7% +4.9% | ||
OpFCF |
B2C |
B2B |
Wholesale |
Infrastructure & Support Functions |
Elimination |
Switzerland |
Italy |
Others |
Reconciliation pension cost |
Elimination |
OpFCF |
Revenue |
B2C |
B2B |
Wholesale |
Elimination |
Revenue Contributio B2C B2B Wholesale Elimination Contributio |
Remarks:
Swisscom does not accept any liability for misprints or other errors. All financials are in CHF million, unless specified otherwise, and presented under IFRS. The figures in this table are unaudited.
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Swisscom AG published this content on November 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 06, 2025 at 06:22 UTC.
