Shareholders' Letter

Consolidated income statement
In CHF million, except for per share amounts Note 2010 2009 restated 1
Net revenue 6, 7 11,988 12,001
Goods and services purchased 8 (2,665) (2,648)
Personnel expense 9, 10, 11 (2,520) (2,577)
Other operating expense 12 (2,510) (2,509)
Capitalised self-constructed assets and other income 13 304 417
Operating income before depreciation and amortisation (EBITDA) 4,597 4,684
Depreciation, amortisation and impairment losses 23, 24 (1,972) (1,995)
Operating income (EBIT) 2,625 2,689
Financial income 14 93 144
Financial expense 14 (458) (493)
Share of results of associated companies 25 28 43
Income before income taxes 2,288 2,383
Income tax expense 15 (502) (460)
Net income 1,786 1,923
Share of net income attributable to equity holders of Swisscom Ltd 1,811 1,926
Share of net income attributable to minority interests (25) (3)
Basic and diluted earnings per share (in CHF) 16 34.96 37.18
1 See Note 3.26 new and amended standards and interpretations
Consolidated statement
of comprehensive income
In CHF million Note 2010 2009 restated 1
Net income 1,786 1,923
Foreign currency translation adjustments of foreign subsidiaries 31 (1,022) (13)
Change in fair value of available-for-sale financial assets 31 2 4
Gains and losses from available-for-sale financial assets
transferred to income statement 31 – (4)
Change in fair value of cash flow hedges 19, 31 (9) (6)
Gains and losses from cash flow hedges transferred to income statement 31 39 101
Income taxes 15 271 (6)
Total other comprehensive income (719) 76
Comprehensive income 1,067 1,999
Share of comprehensive income attributable to equity holders of Swisscom Ltd 1,121 2,003
Share of comprehensive income attributable to minority interests (54) (4)
1 See Note 3.26 new and amended standards and interpretations
Consolidated financial statements 136 | 137
Consolidated income statement
Consolidated statement of comprehensive income