Shareholders' Letter
Shareholders' Letter
Shareholders' Letter
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Swisscom Group five-year review<br />
In CHF million, except where indicated 2006 2007 2008 2009 2010<br />
Net revenue and results<br />
Net revenue 9,652 11,089 12,198 12,001 11,988<br />
Operating income before depreciation<br />
and amortisation (EBITDA) 3,803 4,518 4,806 4,684 4,597<br />
EBITDA as % of net revenue % 39.4 40.7 39.4 39.0 38.3<br />
Operating income (EBIT) 2,362 2,526 2,651 2,689 2,625<br />
Net income<br />
Share of net income attributable to equity holders<br />
1,902 2,069 1,749 1,923 1,786<br />
of Swisscom Ltd 1,596 2,066 1,754 1,926 1,811<br />
Earnings per share CHF 28.86 39.88 33.87 37.18 34.96<br />
Balance sheet and cash flows<br />
Equity at end of year 4,368 5,890 5,647 6,610 6,284<br />
Equity ratio at end of year % 27.6 24.7 24.6 29.9 29.8<br />
Cash flow provided by operating activities<br />
Capital expenditure in property, plant and equipment<br />
3,279 3,604 4,126 4,395 4,024<br />
and other intangible assets 1,324 2,025 2,050 1,987 1,903<br />
Net debt 4,594 10,550 10,071 9,141 8,848<br />
employees<br />
Full-time equivalent employees at end of year number 17,068 19,844 19,943 19,479 19,547<br />
Average number of full-time equivalent employees number 16,734 18,755 19,801 19,813 19,464<br />
Operational data<br />
Telephone access lines PSTN/ISDN in Switzerland in thousand 3,747 3,686 3,556 3,391 3,213<br />
Broadband access lines retail in Switzerland in thousand 1,368 1,602 1,334 1,478 1,584<br />
Mobile subscribers in Switzerland in thousand 4,632 5,007 5,359 5,602 5,828<br />
Swisscom TV subscribers in Switzerland in thousand 10 59 118 232 421<br />
Unbundled fixed access lines in Switzerland in thousand – – 31 153 255<br />
Broadband subscribers in Italy in thousand – 1,263 1,483 1,644 1,724<br />
Swisscom share<br />
Par value per share at end of year CHF 1.00 1.00 1.00 1.00 1.00<br />
Number of issued shares at end of period 56.719 56.719 53.441 51.802 51.802<br />
Closing price at end of period CHF 461.25 442.00 339.50 395.60 411.10<br />
Market capitalisation at end of year 23,894 22,896 17,587 20,491 21,296<br />
Ordinary dividend per share CHF 17.00 18.00 19.00 20.00 21.00 1<br />
Extraordinary dividend per share CHF – 2.00 – – –<br />
Ratio payout/earnings per share % 58.91 50.15 56.10 53.79 60.06<br />
1 In accordance with the proposal of the Board of Directors to the Annual General Meeting.<br />
Further Information 238 | 239<br />
Swisscom Group five-year review
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