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The country’s largest telecom group said on Thursday that sales will rise 0.6 percent at constant currencies. Sales in the Swiss core business also fell 0.6 percent to CHF 2.04 billion. In Italy, on the other hand, Swisscom managed to grow: its broadband subsidiary Fastweb’s sales rose 4.7 percent while operating profit rose 1.6 percent.
Profitability also remained solid. Operating profit before depreciation and amortization (Ebitda) rose 2.4 percent to CHF 1.16 billion. As a result, Swisscom posted a net profit of CHF 442 million in the first quarter. This is 1.1 percent less than the previous year.
Swisscom missed the expectations of the financial community in terms of sales and exceeded them in terms of profit figures.
Swisscom has confirmed their targets for this year. The group targets sales of CHF 11.1 to 11.2 billion and EBITDA of CHF 4.6 to 4.7 billion. The amount of investments should be around 2.3 billion Swiss francs. If these targets are met, the “blue giant” will again be willing to pay a dividend of 22 francs per share. (SDA/smt)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
