Group revenue fell by 1.4% to CHF 8,225 million; at constant exchange rates, it would have risen slightly (+0.3%). At CHF 6,152 million, revenue in the Swiss core business remained stable. Continuing competition and price pressures caused revenue from telecoms services to decline by 1.1% to CHF 4,091 million. This decline is attributable to the business customer segment. By contrast, revenue in the IT solutions business with business customers increased by 6.8% to CHF 877 million. The Italian subsidiary Fastweb continued to develop positively, reporting year-on-year revenue growth of EUR 47 million (+2.7%).
Consolidated operating income before depreciation and amortisation (EBITDA) totalled CHF 3,341 million, which was 3.6% below the previous year. Excluding non-recurring items and at constant exchange rates, it increased by 0.5%. In the Swiss core business, the decline in revenue was offset by ongoing efficiency improvements, and EBITDA increased by 0.7% on a like-for-like basis. At Fastweb, EBITDA rose by 4.3% (in EUR).
Swisscom achieved net income of CHF 1,214 million, down 21%. Non-recurring items impacted EBITDA and, in the previous year, the financial result and tax expense as well. These include the transfer of a participation of Fastweb, the sale of Swisscom’s participation in Belgacom International Carrier Services and one-off effects in the tax expense in the previous year as well as provisions for legal proceedings in the current year and previous year. Without these non-recurring items, net income would have increased by 2.5%.