Switzerland · Delayed Price · Currency is CHF Swisscom AG Earnings Call Transcripts
Fiscal Year 2026
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The AGM highlighted strong financial results, an 18% dividend increase, and successful integration of Vodafone Italia. Strategic investments in AI, cybersecurity, and network expansion were emphasized, alongside a new sustainability strategy and robust shareholder support for all proposals.
Fiscal Year 2025
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Strong operational and financial performance in both Switzerland and Italy, with successful Vodafone integration, stable Free Cash Flow, and increased dividend guidance. Synergies and cost savings drive improved outlook for 2026, despite ongoing market competition and price pressure.
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Q3 2025 saw stable EBITDA and strong operational execution in Switzerland and Italy, with integration synergies on track and full-year guidance confirmed. Revenue and CapEx are trending toward the lower end of guidance, while churn rates remain at record lows and new AI offerings are gaining traction.
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H1 2025 revenue declined 2.3% to CHF 7.44 billion and EBITDAaL fell 5.5%, mainly due to integration costs in Italy, while guidance for the full year is confirmed. Integration and synergy realization in Italy are progressing, with stable performance in Switzerland and ongoing cost savings from the copper phase-out.
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Group revenue and EBITDA declined year-over-year, mainly due to integration costs and service revenue pressure in Italy, but operating free cash flow improved. Integration of Fastweb and Vodafone in Italy is progressing well, with cost synergies on track and full-year guidance confirmed.
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Shareholders approved all proposals, including a CHF 22 dividend, board expansion, and remuneration changes. The Vodafone Italia acquisition and ambitious network expansion in Switzerland and Italy were key strategic highlights. Employee concerns about job security and outsourcing were addressed by management.
Fiscal Year 2024
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Group delivered stable revenue and EBITDA in 2024, offsetting Swiss declines with Italian growth and closing the Vodafone Italia acquisition. 2025 will be a transition year with integration costs, stable Swiss cash flows, and a focus on realizing synergies and stabilizing Italian service revenues.
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Q3 2024 delivered stable revenue and EBITDA, with cost savings offsetting service revenue declines and higher CapEx. Fastweb Italy showed strong growth, and the Vodafone Italia acquisition remains on track for Q1 2025. Full-year guidance is confirmed.
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Q2 2024 results are on track for full-year targets, with revenue up 1.8% and strong growth in Italy. EBITDA is slightly lower due to softer cost savings in Switzerland, but guidance and cost-saving targets are reaffirmed. The Vodafone Italy acquisition and FiberCop sale support future growth and deleveraging.