Swisscom expectations 2020

Swisscom has, for many years now, continued to perform well in a challenging market environment. Our outlook explains how we expect the market and our business to develop over the current year.

Net revenue

in CHF million


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Sales development

For 2020, Swisscom is forecasting a declining net revenue of around CHF 11.0 billion year-on-year. Swisscom excluding Fastweb is expecting lower revenue on account of high competition and price pressure as well as the decline in fixed-line telephony. As a result of Covid-19, revenue is also expected to be slightly lower due to the smaller roaming volume. Slight revenue growth is expected for Fastweb in 2020.

EBITDA development

Swisscom expects EBITDA to remain stable at around CHF 4.3 bn in 2020. As in previous years, Swisscom is responding to the tough competition in Switzerland by further cutting its cost base by CHF 100 million. In contrast, the EBITDA of Fastweb is expected to increase on a like-for-like basis.


in CHF million


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Capital expenditure

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Capital expenditure development

Swisscom anticipates capital expenditure of around CHF 2.3 bn in 2020. At around one fifth of sales, it will remain stable at a high level. Swisscom is investing around two-thirds of this amount in Switzerland in the expansion of the mobile network with 5G and fibre-optic coverage.

“Simplification and ongoing efficiency improvements are the key to stabilising our Swiss business.”

Mario Rossi
CFO Swisscom

Areas of focus for the Swiss market:

Analyst Consensus Q4 2020

The analyst consensus (published as of January 7th 2021) reflects averages based on analyst estimates for key financial data received from December 1st 2020 to January 6th 2021.

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Forward-looking statements

This interim report contains forward-looking statements. The forward-looking statements in this interim report may include statements relating to our financial condition and our operational and business results in addition to specific strategic plans and objectives.

Since these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Swisscom’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of governmental regulators and other risk factors detailed in Swisscom’s and Fastweb’s past and future filings and reports, including those filed with the U.S. Securities and Exchange Commission and in past and future filings, press releases, reports and other information posted on Swisscom Group companies’ websites

Readers are advised not to place undue reliance on forward-looking statements, which are valid only on the date of publication.

Swisscom disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or other factors.