Shareholders' Letter

Anton Scherrer (second on the left)
and Carsten Schloter (on the right)
discuss with Bertrand Piccard
and André Borschberg over the
solution of communications from
Solar Impulse, which will be
developed by Swisscom.
Shareholders’ Letter
Dear Shareholders
Swisscom can look back on a successful year, which saw a rise
in consumer confidence despite a still uncertain business
environment. Swisscom posted gains in all market segments,
including double-digit growth in mobile data services and
TV business. The three-pillar strategy launched in 2006 proved
its worth and is now bearing fruit. Through its partnership
with Solar Impulse, Swisscom has signalled its commitment
to sustainability in its corporate activities.
Strong consolidated results
Although Group revenue of almost CHF 12 billon is only just at the prior-year level and net income
fell by 7%, we still consider 2010 to have been a successful year due to a 2.1% increase in revenue,
taking into account the weak euro. Net income increased by 1%, taking into account one-off special
effects at Fastweb such as VAT proceedings, change in revenue recognition and restructuring
expenses.
Revenue growth in Switzerland is attributable to a rise in consumer confidence, growth in
Swisscom TV, mobile communications and bundled offerings as well as the acquisition of subsidiaries
by Swisscom IT Services. Swisscom’s Swiss business developed very positively, with performance
exceeding expectations.
The Group’s Italian subsidiary Fastweb increased net revenue in local currency by 1.5% and grew
its customer base by a significant 4.9%. Conversely, operating income from Fastweb decreased by
around a fifth as a result of the abovementioned special effects.