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BRIEF-Swisscom FY net income up at CHF 1,604 mln
February 8, 2017 / 6:29 AM / in 9 months

BRIEF-Swisscom FY net income up at CHF 1,604 mln

Feb 8 (Reuters) - Swisscom AG:

* FY consolidated net revenue remained practically unchanged compared with previous year at 11,643 million Swiss francs ($11.67 billion), which is quite remarkable considering price pressure and market environment

* FY EBITDA up by 4.8% in overall terms to 4,293 million Swiss francs; however EBITDA fell slightly, by 1.2%, on an adjusted basis

* FY net income rose by 17.8% to 1,604 million Swiss francs, largely due to non-recurring items

* Plans to reduce its cost base by over 300 million Swiss francs between 2015 and 2020

* For 2017, Swisscom expects a net revenue of around 11.6 billion Swiss francs, EBITDA of around 4.2 billion francs and capital expenditure of around 2.4 billion francs

* With this in mind, reorganisation of swisscom will continue into 2017

* If targets are met, Swisscom will propose to 2018 annual general meeting payment of an unchanged dividend of 22 Swiss francs per share for 2017 financial year

* By end of 2017, swisscom expects to have a headcount of around 17,900 FTES in Switzerland, around 500 fewer than at end of 2016

* Payment of an unchanged dividend of 22 francs per share will be proposed to annual general meeting on April 3, 2017 Source text - bit.ly/2kLIP7G

Further company coverage: ($1 = 0.9977 Swiss francs) (Gdynia Newsroom)

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