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Swisscom raises revenue outlook, sees new CEO by year-end
2013-08-07 09:25:00| Telecompaper Headlines
(Telecompaper) Swisscom reported a small drop in first-half results, but raised its full-year revenue outlook thanks to recent acquisitions. Sales for the first six months of the year dropped 0.4 percent to CHF 5.6 billion, and EBITDA fell 5.5 percent to CHF 2.1 billion. The company blamed the drop on general price erosion in the Swiss market and lower roaming revenue, while growth in customer numbers also increased costs. Net income fell by 9.7 percent to CHF 819 million. Capex was down 0.4 percent in the first half to CHF 1.0 billion, but the company still expects a higher result for the full year. Revenues for 2013 are now estimated at over CHF 11.4 billion, up from an earlier outlook of CHF 11.3 billion, following the acquisitions of Entris and Cinetrade in H1, which are expected to add about CHF 150 million this year. Swisscom maintained its EBITDA outlook, for at least CHF 4.25 billion in 2013, and capex is forecast at CHF 2.4 billion. The company also announced that it expects to appoint a new CEO before year-end, and Christian Petit has been named the new head of Swisscom Switzerland from 1 September.
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Category:Telecommunications