Shareholders' Letter

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39 Risk assessment process Swisscom has a centralised risk management system in place that distinguishes between strategic and operative risks. All identified risks are quantified as a function of the probability of occurrence and possible impact and are set forth in a risk report. The risk report is discussed periodically by the Audit Committee. Management aims to monitor and control risks on an ongoing basis. A risk assessment is undertaken to identify the risks arising from the application of the accounting principles or from financial reporting. Control mechanisms are defined within the scope of the internal control system to minimise the risks connected with financial reporting. Residual risks are classified according to their possible impact and monitored accordingly. See Notes 4 and 33. 40 Events after the balance sheet date Approval of the consolidated financial statements The Board of Directors of Swisscom approved the release of these consolidated financial statements on 16 February 2011. As of this date, no significant post-balance sheet events occurred.
41 List of Group companies Registered Shareholding Share capital Registered name office in % Currency in millions Segment Switzerland Alphapay Ltd Zurich 100 CHF 0.5 Other Axept Ltd Opfikon 100 CHF 0.2 Swisscom Switzerland BFM Business Fleet Management Ltd Ittigen 100 CHF 1.0 Other Billag Ltd Fribourg 100 CHF 0.1 Other cablex Ltd Ostermundigen 100 CHF 5.0 Other Comit Ltd Zurich 100 CHF 0.1 Other Comit Strategic Sourcing Ltd Olten 100 CHF 0.1 Other CT Cinetrade Ltd Zurich 49.0 CHF 0.5 Swisscom Switzerland Curabill Ltd Zurich 100 CHF 1.9 Other Evita Ltd Ittigen 100 CHF 0.5 Other Hospitality Services Plus Ltd Geneva 100 CHF 10.0 Other local.ch Ltd Zurich 51.0 CHF 3.0 Swisscom Switzerland LTV Yellow Pages Ltd Zurich 49.0 CHF 10.0 Swisscom Switzerland Medgate Holding Ltd Zug 40.0 CHF 6.2 Other Mona Lisa Capital Ltd Ittigen 99.5 CHF 5.0 Group Headquarters Resource Ltd Frauenfeld 100 CHF 0.3 Other Sicap Ltd Köniz 81.5 CHF 2.0 Other Sourcag Ltd Münchenstein 60.0 CHF 3.0 Other Swisscom Auto-ID Services Ltd Ittigen 100 CHF 3.9 Other Swisscom Broadcast Ltd Berne 100 CHF 25.0 Other Swisscom Directories Ltd Berne 51.0 CHF 1.5 Swisscom Switzerland Swisscom Real Estate Ltd Berne 100 CHF 100.0 Other Swisscom IT Services Ltd Berne 100 CHF 150.0 Other Swisscom IT Services Workplace Ltd Berne 100 CHF 0.5 Other Swisscom Switzerland Ltd Ittigen 100 CHF 1,000.0 Swisscom Switzerland Transmedia Communications Ltd Geneva 40.0 CHF 0.4 Swisscom Switzerland Webcall GmbH Zurich 100 CHF 0.1 Swisscom Switzerland Wingo Ltd Fribourg 100 CHF 3.0 Swisscom Switzerland Worklink Ltd Berne 100 CHF 0.5 Group Headquarters Consolidated financial statements 208 | 209 Notes to the consolidated financial statements
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2010 Annual Report
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Our promise We bring people togethe
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KPI’s of Swisscom Group In CHF mi
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Fastweb Fastweb is the third larges
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Swisscom share performance in 2010
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Changes to the Board of Directors T
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Management Commentary We combine th
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Environment, strategy and organisat
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See www.swisscom.ch/ networkcoverag
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Development of exchange rate CHF/EU
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Regulatory developments in Switzerl
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Market shares mobile subscribers in
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Market shares IT services in Switze
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Subsidiaries Associates 6 Board of
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Maximise Maximise our market positi
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Enterprise value In CHF million, ex
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Share performance 1998-2010 in CHF
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Employees Swisscom offers employees
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Full-time equivalent employees at e
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Staff development Swisscom makes ta
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Employee satisfaction In May 2010 S
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Staff recruitment Recruiting new st
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Financial review Group Development
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Share of operating segments in net
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Net financial result Net financial
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Operating segment results Developme
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Swisscom TV customer base increased
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Development of third-revenue in CHF
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Development of third-revenue in CHF
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Development of third-revenue in EUR
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Quarterly review 2009 and 2010 1. 2
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Quarterly review 2009 and 2010 1. 2
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Due to the early termination of cro
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Development of net debt in CHF mill
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Development of capital expenditure
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Risks Taking calculated risks - the
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Measures are in place for most risk
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Environmental and health risks Elec
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Ecology Leading role in business pr
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Objectives/Strategy Board of Direct
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See www.swisscomnature.ch/ CRblog P
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Materiality matrix Swisscom 2010 Ma
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See report page 100 See www.swissco
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Environmentally friendly products a
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See www.icnirp.org See www.swisscom
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Access for all See www.swisscom.ch
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See www.snowfriends.ch Internet for
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Energy-efficient infrastructure tio
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See www.cdproject.net/en-US the pas
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Innovation and development Swisscom
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GRI topics / KPI Objective Status /
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Corporate Governance and Remunerati
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See www.swisscom.ch/basicprinciples
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2 Capital structure 2.1 Capital At
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3 Board of Directors 3.1 Members of
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Hugo Gerber Michel Gobet Thorsten G
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Felix Rosenberg Richard Roy Othmar
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See report Page 128 3.6 Committees
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See report Page 69 3.9 Controlling
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4 Group Executive Board 4.1 Members
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Kathrin Amacker-Amann Eros Fregonas
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Urs Schaeppi Urs Schaeppi Swiss cit
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6.2 Statutory quorum requirements T
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8.4 Supplementary fees The suppleme
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Remuneration report See report Page
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Remuneration paid to the Board of D
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sizes domiciled in Switzerland and
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Clause on change of control The emp
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Financial Statements Swisscom’s b
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Consolidated income statement In CH
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Consolidated statement of cash flow
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Notes to the consolidated financial
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The exchange rates of significance
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3.8 Business combinations and goodw
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on sale-and-leaseback transactions
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of radio services, multi-platform s
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3.23 Income taxes Income taxes incl
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In CHF million Reported Adjustments
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Provisions for interconnection and
Page 159 and 160: The main reasons for the recognitio
Page 161 and 162: 6 Segment information Operating seg
Page 163 and 164: Other Group Swisscom operating Head
Page 165 and 166: 7 Net revenue In CHF million 2010 2
Page 167 and 168: Fastweb Employees of the Italian su
Page 169 and 170: The analysis of the comPlan’s pen
Page 171 and 172: 12 Other operating expense In CHF m
Page 173 and 174: 15 Income taxes In CHF million 2010
Page 175 and 176: Balance Recognised Change in Foreig
Page 177 and 178: Analysis of maturity and allowances
Page 179 and 180: acquisitions. Other derivative fina
Page 181 and 182: Land, Advances made buildings and a
Page 183 and 184: As of 31 December 2010, other intan
Page 185 and 186: The following table provides select
Page 187 and 188: Private placements Carrying amount
Page 189 and 190: The future payments of the liabilit
Page 191 and 192: Since 2000, several telecommunicati
Page 193 and 194: in the Federal Administrative Court
Page 195 and 196: Other reserves Cumulative foreign c
Page 197 and 198: The following currency risks and he
Page 199 and 200: tional Swaps and Derivatives Associ
Page 201 and 202: Asset/liability categories and fair
Page 203 and 204: Asset/liability categories and resu
Page 205 and 206: In 2009, Swisscom terminated intere
Page 207 and 208: The value-added tax receivables are
Page 209: Key management compensation In CHF
Page 213 and 214: Registered Registered Shareholding
Page 215 and 216: Report on Other Legal Requirements
Page 217 and 218: Balance sheet In CHF million Note 3
Page 219 and 220: 6 Treasury shares Swisscom Ltd reco
Page 221 and 222: Base emoluments and functional allo
Page 223 and 224: influence. Parents, siblings and ch
Page 225 and 226: Report of the statutory auditor Rep
Page 227 and 228: Further Information Discovering new
Page 229 and 230: Glossary Technical terms ADSL (Asym
Page 231 and 232: LAN (Local Area Network) A LAN is a
Page 233 and 234: Networks Access network Swisscom’
Page 235 and 236: Financial terms Average minutes per
Page 237 and 238: Other terms Bit-stream access (BSA)
Page 239: Index of keywords Board of Director
Page 242: Publishing details Key dates > 17 F
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Shareholders' Letter

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