Stable results despite the challenging environment

Swisscom has generated a solid result in a particularly challenging market environment. As expected, revenue declined slightly due to price factors, but operating income remained almost stable thanks to cost reductions. The continued high level of investment in the network is paying off with unprecedented data volumes seen during the current Covid-19 crisis. However, restrictions in individual cantons pose a threat to the further expansion of the mobile network. Broadband expansion is on track. Successes were achieved with our bundled offerings as well as in the solutions business with corporate customers. There has been continued growth for Fastweb in all segments. The outlook for 2020 remains unchanged. However, there is a great deal of uncertainty surrounding the possible financial impact of Covid-19.