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11<br />
An overview of 2002<br />
<strong>Swisscom</strong> Fixnet<br />
<strong>Swisscom</strong> Mobile<br />
Enterprise Solutions<br />
debitel<br />
Other business areas<br />
Employees<br />
Customers<br />
The community<br />
The environment<br />
Investors<br />
In Switzerland, liberalization of the telecoms market has been extremely successful<br />
to date. It has intensified competition and brought about massive price reductions<br />
in some areas and produced a highly diverse range of market offerings. <strong>Swisscom</strong><br />
faces strong competition in broadband communications, in particular from cable<br />
television operators.<br />
A warm thank-you to our employees<br />
<strong>Swisscom</strong>'s success is attributable first and foremost to its employees. Without their<br />
dedication, motivation and enthusiasm, we would not be where we are today. We<br />
would therefore like to express our appreciation for their commitment, team spirit,<br />
flexibility and understanding for the sometimes difficult decisions which we have<br />
been forced to make this past year. We would also like to thank our customers and<br />
shareholders for their continuing trust and loyalty. This encourages us to continue<br />
pursuing our chosen course. Finally, we would like to thank our main shareholder<br />
for its support and the departing members of the management team for their<br />
commitment.<br />
Outlook<br />
In light of the current market situation, we anticipate pressure on revenue and<br />
margins to continue in 2003. <strong>Swisscom</strong> can only really achieve growth abroad. Given<br />
unchanged market and regulatory conditions, there may be an overall decline in<br />
domestic revenues. Thanks to consistent cost management, however, we expect to<br />
maintain operating income (EBITDA) at the same level as 2002.<br />
We will continue to focus on customer satisfaction and vigorously pursue the<br />
targeted training measures and process optimization steps initiated during the<br />
year under review. Satisfied customers are critical to the success of our company.<br />
We are fully aware of this and intend to make every effort to bring about further<br />
improvements in this area also in 2003.<br />
Markus Rauh Jens Alder<br />
Chairman of the Board of Directors Chief Executive Officer<br />
<strong>Swisscom</strong> AG <strong>Swisscom</strong> AG
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