Financial outlook 2013

In 2013, Swisscom anticipates stable revenue of CHF 9.34 billion, excluding Fastweb. EBITDA (excluding Fastweb) is expected to decline to CHF 3.64 billion. A new standard for pension fund accounting will lead to a CHF 110 million increase in costs not affecting cash flow. Furthermore, the steady growth in customers and volumes will bring about an increase in direct costs, mainly in the acquisition of new customers and the procurement of handsets. The maintenance and further expansion of the network infrastructure will also result in a temporary increase in indirect costs.
In 2013, Swisscom expects capital expenditure (excluding Fastweb) to rise to CHF 1.75 billion. Capital expenditure of CHF 1.65 billion in 2012 was CHF 50 million below the original forecast for the year.
A slight acceleration in investment activity is anticipated in 2013, which should make up for the shortfall.
In 2013, Fastweb is forecast to enjoy stable growth in revenue in local currency, excluding hubbing, of EUR 1.6 billion. EBITDA at Fastweb is expected to stay at the previous year’s level of EUR 500 million. Due to the expansion of the fibre-optic networks in Italy, investments are expected to rise to
EUR550 million.
Based on the current CHF/EUR exchange rate of 1.23, Swisscom therefore expects Group revenue of around CHF 11.3 billion, EBITDA of at least CHF 4.25 billion and capital expenditure of around
CHF2.4 billion.
If all targets are met, Swisscom will again propose a dividend of CHF 22 per share for the 2013 financial year to the Annual General Meeting of Shareholders.