Swisscom commence l'année en beauté - recours contre la décision Weko
Published: Thursday, May 2nd 2024, 07:40
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Swisscom has made a solid start to the new year. Revenue and operating profit fell slightly. In contrast, net profit increased slightly. Swisscom is also appealing to the Federal Administrative Court in the fiber optic dispute with the Competition Commission.
Sales fell slightly by 1.6 percent to 2.70 billion Swiss francs in the first three months. The weaker euro also contributed to this. At constant exchange rates, turnover would have fallen by 0.5 percent, the country's largest telecommunications group announced in a press release on Thursday.
In the Swiss core business, revenue also fell by 2.5% to CHF 1.99 billion. In Italy, however, Swisscom was able to grow: The turnover of the broadband subsidiary Fastweb improved by 5.6 percent.
Profitability declined slightly. Operating profit before depreciation and amortization (EBITDA) fell by 0.8% to CHF 1.16 billion. In contrast, the bottom line net profit climbed by 2.9 percent to 455 million francs.
Swisscom is sticking to its targets for the current year. The Group is therefore aiming for revenue of around CHF 11.0 billion and a slightly lower operating profit (EBITDA) of CHF 4.5 to 4.6 billion. Investments are expected to amount to around CHF 2.3 billion. If these targets are achieved, the "blue giant" intends to pay a dividend of CHF 22 per share once again.
Appeal against Weko ruling
Swisscom is also lodging an appeal in the fiber optic dispute with the Swiss Federal Competition Commission (ComCo). The company is taking the decision of the competition authorities to the Federal Administrative Court. This is because the reasons given by the Competition Commission are not comprehensible.
A week ago, the cartel watchdogs fined Swisscom CHF 18.4 million because they considered the modified design of the fiber optic network to be anti-competitive. Swisscom had changed the network architecture to just one supply line from the telephone exchange to the street duct. However, the Competition Commission is insisting on an expansion with a supply line for every household.
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