Swisscom Ag · SIX:SCMN
Swisscom — Swisscom Ag Ittigen R/Shs — FY 2023 Earnings Presentation
81 slides from Swisscom's earnings presentation, Feb 8, 2024
Slide 1: FY 2023 results
Analyst and investor presentation FY 2023 results 08 February 2024
Slide 2: Agenda
Agenda Welcome and introduction 1. Successful 2023 p3-6 2. Empowering the digital future as Innovators of Trust p7-11 3. Trusted leader in digital life and business in Switzerland and Italy p12-50 4. Rock-solid financials p51-61 5. Wrap-up p62-63 6. Q&A p64 Appendix p65-81 2
Slide 3: Successful 2023
1 Successful 2023 Christoph Aeschlimann CEO Swisscom 3
Slide 4: Achievements 2023
1 Achievements 2023 Another successful year with many highlights along our group goals Delivered Strong delivery again in innovation Satisfying operational results and Launch of several next generation services and financial targets achieved non-stop investments in future-proof network Leading Outst
Slide 5: Operational performance 2023
1 Operational performance 2023 Satisfying results with total RGU base being stable in Switzerland and growing in Italy Swisscom Switzerland Fastweb Net adds +129 -21 -34 +422 in k -96 +13 +108 +40 +30 +32 +27 Fixed +57 +144 +112 +85 +81 +69 +47 +40 +9 +9 +34 +1 Q1 23 Q2 Q3 Q4 -10 -5 -3 -3 -9 -8 -4 -
Slide 6: Financial results 2023
1 Financial results 2023 Rock-solid financial performance with higher EBITDA, free cashflow and net income Key figures EBITDA in CHF mn, YOY in CHF mn, YOY Revenue EBITDA EBITDA in % EBITDAaL EBITDA 4'406 2022 11'072 4'622 41.7% 4'334 Swisscom +0.2% +4.9% +1.8pp +5.2% +8 Switzerland CAPEX CAPEX/sale
Slide 7: Empowering the digital future as Innovators of Trust
2 1 Empowering the digital future as Innovators of Trust Christoph Aeschlimann CEO Swisscom 7
Slide 8: The Swisscom group story
2 1 The Swisscom group story Our Purpose Empowering the digital future Our Vision Innovators of Trust The most trusted Swiss tech innovator creating unique customer experiences with positive impact for society. Our Values 8 trustworthy, committed, curious
Slide 9: The Swisscom group strategy
2 The Swisscom group strategy Delight Innovate Achieve more Perform customers for growth with less together Create unique Deliver digital Drive transformation Develop ourselves customer products and at pace with AI, and our experiences services of digitalization collaboration every day the future an
Slide 10: The Swisscom strategy for Switzerland and Italy
2 The Swisscom strategy for Switzerland and Italy How we achieve our vision Delight Innovate Achieve more Perform customers for growth with less together Strong brand play and quality Future-proof networks with High efficiency driven by AI and Performance culture positioning through enhanced latest
Slide 11: The Swisscom group goals
2 The Swisscom group goals Our business and financial ambitions 2024 Presentation focus Deep-dive in appendix Trusted leader Rock-solid Outstanding Pioneer in High- in digital life and financials in innovation sustainability performing business and reliability teams • Number 1 in • Long-term value •
Slide 12: Trusted leader in digital life in Switzerland
3 Trusted leader in digital life in Switzerland Dirk Wierzbitzki CEO Residential Customers Switzerland 12
Slide 13: Swiss B2C Telco: Achievements 2023
Swiss B2C Telco 3 Achievements 2023 Strong results - commercially and operationally Delight Innovate Achieve more customers for growth with less Leading market position defended Inspiring in entertainment Stable EBITDA with strong value proposition and successful with launch of next generation TV bo
Slide 14: Swiss B2C Telco: In market perspective
Swiss B2C Telco 3 In market perspective Swisscom well-positioned to sustain leading market position in light of trends Market development Market trends Swisscom's proposition Swiss B2C Telco & TV market1 • Solid subs growth in postpaid thanks to • Strong value focus in customer base 2020-23, # subs
Slide 15: Swiss B2C Telco: Strategic priorities 2024 and beyond
Swiss B2C Telco 3 Strategic priorities 2024 and beyond Delight Innovate Achieve more customers for growth with less Strong value focus Drive entertainment to Accelerate shift to online across all brands the next level through app push, increasing self- service and improved personalised with innovati
Slide 16: Strong focus on value optimisation across all brands
Swiss B2C Telco 3 Strong focus on value optimisation across all brands ARPU levels preserved while keeping cannibalisation effect limited Our belief and approach in 2023 Our 2024+ focus and ambitions ARPUs (in CHF) • Focus on value promotions - Wireless Wireline • Strengthen value-oriented 2nd/3rd b
Slide 17: Sustain leading market position through well-targeted offerings
Swiss B2C Telco 3 Sustain leading market position through well-targeted offerings Stable RGU base thanks to strong blue portfolio and continued value-oriented growth of wingo Our belief and approach in 2023 Our 2024+ focus and ambitions RGU base (in k) 7’596 -31 7'565 • Growing blue penetration and
Slide 18: Create award-winning experiences and develop customers to loyal fans
Swiss B2C Telco 3 Create award-winning experiences and develop customers to loyal fans Record NPS value in 2023 shows that continuous investments in customer experience and brand pay off Our belief and approach in 2023 Our 2024+ focus and ambitions NPS development (2019-2023) 40 • Lead in customer s
Slide 19: Fuel growth through entertainment innovation
Swiss B2C Telco 3 Fuel growth through entertainment innovation Bring experience to the next level creating an integrated entertainment world with best 3rd party content Our belief and approach in 2023 Our 2024+ focus and ambitions TV RGUs (in k) Swisscom • Evolve Entertainment as reason Swisscom Swi
Slide 20: Leverage strengths and partnerships to drive innovation beyond core
Swiss B2C Telco 3 Leverage strengths and partnerships to drive innovation beyond core Tap into new growth areas and increase brand relevance for customers in the digital world Our belief and approach in 2023 Our 2024+ focus and ambitions B2C portfolio overview • Growing share of revenues Insurance S
Slide 21: Accelerate shift to online and drive efficiency across customer touchpoints
Swiss B2C Telco 3 Accelerate shift to online and drive efficiency across customer touchpoints Significant reduction of contact centre workload driven by increasing digital adoption in customer base Our belief and approach in 2023 Our 2024+ focus and ambitions Channel shares • Shift to digital fuelle
Slide 22: Trusted leader in digital business in Switzerland
3 1 Trusted leader in digital business in Switzerland Urs Lehner CEO Business Customers Switzerland 22
Slide 23: Swiss B2B Telco and IT: Achievements 2023
Swiss B2B Telco and IT 3 Achievements 2023 Focus on continuous growth with innovative ICT solutions Delight Innovate Achieve more customers for growth with less Strengthened value differentiation Ahead of market in MPLS to SD-WAN Digitalisation further pushed and premium positioning by launch of new
Slide 24: Swiss B2B: In market perspective
Swiss B2B Telco and IT 3 In market perspective Growing B2B IT market, declining Telco market Market development Market trends Swisscom's proposition Swiss B2B Telco market 2020-26, revenue CAGR • Wireless with ongoing price pressure • Local proximity: unique market driven by unchanged highly competi
Slide 25: Swiss B2B: Strategic priorities 2024 and beyond
Swiss B2B Telco and IT 3 Strategic priorities 2024 and beyond Delight Innovate Achieve more customers for growth with less • Lever award-winning • Pioneer with next • Transform operating model: network, products and generation connectivity continuously drive operational service to defend ARPU premiu
Slide 26: Continuously execute value strategy
Swiss B2B Telco 3 Continuously execute value strategy Lever award-winning network, innovative products and leading service to defend ARPU premium Our belief and approach in 2023 Our 2024+ focus and ambitions Portfolio innovation Wireless Wireless Wireless • Soft-launched new Enterprise inOne KMU Ent
Slide 27: Drive differentiation to the next level
Swiss B2B Telco and IT 3 Drive differentiation to the next level Through seamless customer experience, excellent customer service and trust Our belief and approach in 2023 Our 2024+ focus and ambitions NPS results Corporate • Trust, customer experience and +9.1pp vs avg. 19-22 • Maintain and further
Slide 28: Pioneering with next generation connectivity proposition
Swiss B2B Telco 3 Pioneering with next generation connectivity proposition Leverage unique market position by establishing convergence of network and security Our belief and approach in 2023 IoT active SIM cards Our 2024+ focus and ambitions (in mn) Wireless 2.5x >2.5 • Launch of Teams mobile integr
Slide 29: Further expand position as leading Swiss IT service provider
Swiss B2B IT 3 Further expand position as leading Swiss IT service provider Bring business value to our customers through innovative ICT solutions for digital transformation Our belief and approach in 2023 IT service revenue growth1 Our 2024+ focus and ambitions in CHF mn +3% • Continue enhancing •
Slide 30: Further expand position as leading Swiss IT service provider
Swiss B2B IT 3 Further expand position as leading Swiss IT service provider Strengthen differentiation with a broad portfolio from infrastructure to business-related IT Our belief and approach in 2023 IT proposition Our 2024+ focus and ambitions non-organic moves complementing capabilities • Collabo
Slide 31: Operating model transformation successfully progressing
Swiss B2B Telco and IT 3 Operating model transformation successfully progressing Continuously drive operational excellence through digitalisation, standardization and simplification Our belief and approach in 2023 Our 2024+ focus and ambitions Online share B2B corporate1 • Ongoing simplification of
Slide 32: Trusted leader in digital infrastructure in Switzerland
3 Trusted leader in digital infrastructure in Switzerland Christoph Aeschlimann CEO Swisscom 32
Slide 33: Swiss Networks & IT and Wholesale: Achievements 2023
Swiss Networks & IT and Wholesale Telco 3 Achievements 2023 Successfully enhanced position as trusted leader in digital infrastructure in Switzerland Delight Innovate Achieve more customers for growth with less #1 in FTTH and 5G+ coverage Launch of dual core IP and new Decrease complexity ensured be
Slide 34: Swiss Networks & IT: In market perspective
Swiss Networks & IT and Wholesale Telco 3 In market perspective Best networks and transformation to cloud-native enterprise architecture to be ready for the future Market development Market trends Swisscom's proposition Annual worldwide data growth1 • Increasing customer expectations for • Best stat
Slide 35: Strategic priorities 2024 and beyond
Swiss Networks & IT 3 Strategic priorities 2024 and beyond and Wholesale Telco Delight Innovate Achieve more customers for growth with less Accelerate FTTH and Develop next generation Consistently standardise 5G+ rollout to extend high- connectivity with data/AI and and automate processes and speed
Slide 36: Continuously enhance mobile network leadership in Switzerland
Swiss Networks & IT 3 Continuously enhance mobile network leadership in Switzerland Swisscom with best benchmarking scores in DACH region ever Our belief and approach in 2023 Our 2024+ focus and ambitions #1 mobile network in connect test (scores) • Superior customer experience: • Drive 5G+ pop cove
Slide 37: Build the next-generation network for Switzerland
Swiss Networks & IT 3 Build the next-generation network for Switzerland FTTH as future-proof technology drives innovation and efficiency UBB coverage at YE 232 Our belief and approach in 2023 (YOY) Our 2024+ focus and ambitions +1pp 56% incl. 3rd +4pp parties3 +3pp • Accelerate FTTH rollout to achie
Slide 38: Building the state-of-the-art architecture
Swiss Networks & IT 3 Building the state-of-the-art architecture Transforming from Telco to Techco to drive innovation and efficiency Our belief and approach in 2023 Our 2024+ focus and ambitions Swisscom Digital Architecture • Initialised transformation to • Execute transformation to Swisscom Digit
Slide 39: Provide the most reliable and secure services
Swiss Networks & IT 3 Provide the most reliable and secure services Application of stability measures to provide a reliable network without any outages Our belief and approach in 2023 Diminish escalated major incidents Our 2024+ focus and ambitions -67% • Reliable and secure networks • Set zero esca
Slide 40: Continue network and IT simplification
Swiss Networks & IT 3 Continue network and IT simplification Increased simplicity leads to reduced time-to-market and increased efficiency and quality in operations Our belief and approach in 2023 Phaseout of apps and network functions Our 2024+ focus and ambitions -24% -33% • Unified hardware • Ele
Slide 41: Secure value contribution as technology leader and preferred partner
Swiss Wholesale Telco 3 Secure value contribution as technology leader and preferred partner Maximise value generation primarily through monetising fibre rollout Our belief and approach in 2023 Our 2024+ focus and ambitions Wholesale service portfolio • #1 partner thanks to strong offerings and best
Slide 42: Trusted leader in digital life and business in Italy
3 Trusted leader in digital life and business in Italy Walter Renna CEO Fastweb 42
Slide 43: Italian Telco and IT: Achievements 2023
Italian Telco and IT 3 Achievements 2023 Outstanding industrial performance in core and steady growth beyond traditional Telco services Delight Innovate Achieve more customers for growth with less Another successful year of growth 1st Italian Techco collaborating with Increased network efficiency le
Slide 44: Italian Telco and IT: In market perspective
Italian Telco and IT 3 In market perspective Fastweb well positioned to become an AI-driven company and to capture future market opportunities Market development Market trends Fastweb's proposition Italian Telco subscriptions1 (mn) • Inflationary pressure and energy prices • Differentiation through
Slide 45: Italian Telco and IT: Strategic priorities 2024 and beyond
Italian Telco and IT 3 Strategic priorities 2024 and beyond Delight Innovate Achieve more customers for growth with less Drive value differentiation Grow beyond fixed in B2C Tight cost management with with unique customer experience attacking on mobile, revamping SME tailored responsibilities across
Slide 46: Consumer - maximise value in Telco and grow beyond core
Italian Telco 3 Consumer - maximise value in Telco and grow beyond core Grow through quality in wireline and mobile and a robust household-centric ecosystem Our belief and approach in 2023 RGU base (in k) Our 2024+ focus and ambitions +13.7% -3.1% • Strong value orientation in +0.7% • Focus on quali
Slide 47: Enterprise - lever strong position and sustain sound profitability
Italian Telco and IT 3 Enterprise - lever strong position and sustain sound profitability Tailor future-proof cloud, security and AI-based propositions Our belief and approach in 2023 Enterprise revenue Our 2024+ focus and ambitions (in EUR mn) +11.7% • Strong top line growth: +11.7% YOY, 1’134 • Le
Slide 48: Wholesale - keep growing with innovative and reliable services
Italian Telco 3 Wholesale - keep growing with innovative and reliable services Push sustainable UBB growth and enter in new businesses Our belief and approach in 2023 Our 2024+ focus and ambitions Wholesale revenue (in EUR mn) • Successful execution on major +4.3% • Further grow in UBB business cust
Slide 49: Networks and IT - provide best access services with top quality
Italian Telco and IT 3 Networks and IT - provide best access services with top quality Boost leadership in FTTH, 5G and data/AI Our belief and approach in 2023 Networks Our 2024+ focus and ambitions +6pp • Simplified UBB access strategy 36% 39% • Further extend FTTH footprint and focusing on FTTH in
Slide 50: Supporting 'TU SEI FUTURO' through remarkable ESG achievements
Italian Telco and IT 3 Supporting ‘TU SEI FUTURO’ through remarkable ESG achievements Fastweb purpose based on a more connected, inclusive and eco-sustainable future Our belief and approach in 2023 Our 2024+ focus and ambitions • Fastweb successfully delivering • Get closer and closer to the ecologi
Slide 51: Rock-solid financials
4 1 Rock-solid financials Eugen Stermetz CFO Swisscom 51
Slide 52: Group revenue
4 Group revenue Underlying top line increased thanks to Fastweb growth in CHF mn Q1 Q2 Q3 Q4 +56 +40 +5 0 +5 +1 0 +1 +28 +25 +42 +1 +7 +9 -9 -19 -1 -18 -14 -1 -3 -7 -1 -2 -1 -7 -7 -10 -2 -24 -23 -29 Underlying +104 (+0.9%), Q1: +17, Q2: +13, Q3: +47, Q4: +27 Swisscom Switzerland -63 (-0.8%) +151 +16
Slide 53: Swisscom Switzerland revenue
4 Swisscom Switzerland revenue Telco service revenue decline: marginal in B2C, more pronounced in B2B FY 23 revenue changes by business drivers Telco service revenue evolution in CHF mn in CHF mn Q1 22 Q2 Q3 Q4 Q1 23 Q2 Q3 Q4 5 7 Swisscom Switzerland -63 (-0.8%) -4 -2 -5 -3 -4 B2C -7 -10 -6 -17 -2 -
Slide 54: Group EBITDA
4 Group EBITDA Positive EBITDA development Q1 Q2 Q3 Q4 +71 +48 +85 +9 +2 0 +5 +11 +25 +24 +24+17 +27 +24+80 +2 +11 in CHF mn +19 +18 +3 +3 +5 +4 +6 -7 -5 -20 -1 -6 -19 -4 -8 -6 -5 -7 -3 Underlying +107 (+2.3%), Q1: +34, Q2: +14, Q3: +27, Q4: +32 +109 +216 Swisscom Switzerland +8 (+0.2%) +90 (+4.9%)
Slide 55: Swisscom Switzerland EBITDA
4 Swisscom Switzerland EBITDA Operationally on prior year level thanks to ongoing delivery on operational excellence Q1 Q2 Q3 Q4 +95 +116 +92 +118 in CHF mn +1 +14 0 0 +4 +4 +3 +9 +10 +27+13 +1 0 +13 -12 -11 -16-24 +10+10 0 0 -6 -2 -6 -6 -15 -6 Swisscom Switzerland +8 (+0.2%) Direct cost +31 (-1.8%)
Slide 56: Telco cost savings in Switzerland
4 Telco cost savings in Switzerland Continuously strive for Telco cost savings to balance out Telco service revenue erosion Telco cost savings 2023 Achieving more with less remains a top priority gross CHF ~100mn • Unchanged ambition to realise Telco cost savings +10 (CHF >50mn, net) compensating fo
Slide 57: Capital expenditures
4 Capital expenditures Group Capex in line with FY guidance of CHF ~2.3bn Group CAPEX Swisscom Switzerland CAPEX in CHF mn Q4 23 FY 23 Wireless • Ongoing investments in 5G+ CHF 271mn coverage extension. CAPEX at (CHF -6mn YOY) prior's year level Group 662 2'292 (-46, -6.5% YOY) (-17, -0.7% YOY) • Ov
Slide 58: Free cash flow
4 Free cash flow Solid FCF generation, slightly higher compared to 2022 in CHF mn FY 23 (+9.7%) 4’622 -288 4'334 -2'292 2'042 -133 -31 -77 -313 -8 1'480 Δ +216 -2 +214 +17 +231 -69 -80 -17 +65 +1 +131 1 2 3 FY 22 4’406 -286 4'120 -2'309 1'811 -64 +49 -60 -378 -9 1'349 EBITDA Lease EBITDAaL CAPEX OpF
Slide 59: Net income
4 Net income EPS increase (+7%) thanks to higher EBIT overcompensating lower financial result in CHF mn tax rate1 EPS 33.03 (+6.8%) 17.5% FY 23 4’622 -2'126 -291 2'205 -130 0 -364 1'711 0 1'711 (+6.7%) (+6.8%) Δ +216 -22 -29 +165 -58 +5 -4 +108 +1 +109 1 tax rate1 EPS 18.3% 30.93 FY 22 4’406 -2'104
Slide 60: Swisscom committed to sound financial profile
4 Swisscom committed to sound financial profile Well balanced and diversified maturity profile Net debt development (in CHF mn) Leverage 1.5x (-0.2x)2 7'374 1'140 63 7'071 -26 -1'480 Credit S&P: A positive ratings Moody's: A1 stable Net debt FCF Dividends M&A Other Net debt 2022 effects 2023 Debt 82
Slide 61: FY 2024 guidance
4 FY 2024 guidance Net revenue of CHF ~11.0bn, EBITDA of CHF 4.5-4.6bn and CAPEX of CHF ~2.3bn 2023 2024 3 in CHF bn reported splits into: outlook splits into: CHF 8.5bn for Switzerland 2 CHF ~8.5bn for Switzerland Revenue 11.072 EUR 2.6bn for Fastweb ~11.0 EUR ~2.6-2.7bn for Fastweb CHF 3.8bn for S
Slide 62: Wrap-up
5 Wrap-up Christoph Aeschlimann CEO Swisscom 62
Slide 63: Final remarks
5 Final remarks Strong market standing key for long-term value creation and attractive shareholder remuneration Delivered on 2023 goals as basis for future success Solid strategy with ambitious goals for 2024 defined Innovative propositions for future growth launched Continuous focus on FCF generati
Slide 64: Q&A
6 Q&A 64
Slide 65: Appendix
Appendix 65
Slide 66: Group goal 'outstanding in innovation and reliability'
Group goal 'outstanding in innovation and reliability' What we want to achieve Outstanding in innovation and reliability Pioneer in sustainability High-performing teams Swisscom in Switzerland Focus areas Ambitions Innovation fields • Continuous product innovations in innovation fields, e.g. − Evolu
Slide 67: Group goal 'pioneer in sustainability'
Group goal 'pioneer in sustainability' What we want to achieve Outstanding in innovation and reliability Pioneer in sustainability High-performing teams Swisscom in Switzerland Focus areas Ambitions • Reduction of CO2 across the whole value chain Scope 1-2 • electrification and energy efficiency • D
Slide 68: Group goal 'high-performing teams'
Group goal 'high-performing teams' What we want to achieve Outstanding in innovation and reliability Pioneer in sustainability High-performing teams Swisscom in Switzerland Focus areas Ambitions • Workforce diversification across gender, age, • Enhance inclusion and diversification by integration Be
Slide 69: Key financials
Key financials Underlying revenue and EBITDA 2022 2023 YOY in CHF mn Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Revenue 2’754 2’713 2’712 2’872 11’051 2’747 2’703 2’752 2’870 11’072 -7 -10 +40 -2 +21 Currency effect 1 24 23 7 29 83 +24 +23 +7 +29 +83 Underlying +17 +13 +47 +27 +104 EBITDA 1’137 1’
Slide 70: Residential Customers
Residential Customers Segment reporting as per 31.12.2023 in MCHF Q4 2023 Q4/Q4 31.12.2023 YOY Revenue 1) 1'157 0.0% 4'502 -0.6% Direct costs -249 4.2% -877 -0.1% Revenue slightly decreased Indirect costs 2) -171 -0.6% -646 -3.6% (-0.6%) driven by Telco service EBITDA 737 -1.2% 2'979 0.0% revenue (-
Slide 71: Business Customers
Business Customers Segment reporting as per 31.12.2023 in MCHF Q4 2023 Q4/Q4 31.12.2023 YOY Revenue 1) 794 -1.7% 3'098 -1.0% Direct costs -200 -6.5% -742 -3.0% Revenue decreased (-31mn, -1.0%), driven by Telco service Indirect costs 2) -255 -3.4% -998 1.5% revenue (CHF -54mn, -3.4%, EBITDA 339 2.7%
Slide 72: Wholesale
Wholesale Segment reporting as per 31.12.2023 in MCHF Q4 2023 Q4/Q4 31.12.2023 YOY Revenue slightly lower (-1.6%). Revenue 1) 130 -5.8% 542 -1.6% Lower revenue from Direct costs -51 -10.5% -239 -3.2% termination and wholesale Indirect costs 2) 27 n.m. 23 -253.3% services was partly compensated by sl
Slide 73: Wholesale offerings: Carrier lines and Access lines
Wholesale Overview of offerings with unchanged prices to prior year Carrier Line Service Basic und Premium • Dedicated high-quality Point-to-Point Data Transmission, CLS 2 Mbps to 100 Gbps symmetric Carrier lines Carrier Ethernet Service Basic und Premium CES Monthly prices / access line • Layer-2 s
Slide 74: Infrastructure & Support Functions
Infrastructure & Support Functions Segment reporting as per 31.12.2023 in MCHF Q4 2023 Q4/Q4 31.12.2023 YOY Revenue 1) 16 -5.9% 73 2.8% Indirect costs and EBITDA Direct costs -2 100.0% -8 0.0% improved substantially due Indirect costs 2) -262 -25.6% -1'028 -16.3% to changes in provisions 1 EBITDA -2
Slide 75: Spectrum situation in Switzerland
W- spectrum situation in Switzerland Spectrum licenses until 2028* or 2034** Spectrum use by Swisscom in 2024 3G 4G 5G 3,5 GHz** 120 100 80 3,5 GHz 5G+ 2,6 GHz * 85 50 40 2,6 GHz 4G * DSS1 2,1 GHz 60 20 40 2,1 GHz 4G 5G 1,8 GHz * 60 40 50 1,8 GHz 4G ** 1,4 GHz 50 15 10 1,4 GHz 4G 900 MHz * 30 30 10
Slide 76: Fastweb
Fastweb Segment reporting as per 31.12.2023 in MEUR Q4 2023 Q4/Q4 31.12.2023 YOY Consumer revenue grew by +1.6% Consumer 294 1.7% 1'163 1.6% YOY, driven by increasing mobile Enterprise 320 14.7% 1'134 11.7% RGUs. Wholesale 1) 108 -3.6% 336 4.3% Enterprise revenue up +11.7% YOY, Revenue 1) 722 6.2% 2
Slide 77: Other
Other Segment reporting as per 31.12.2023 in MCHF Q4 2023 Q4/Q4 31.12.2023 YOY External revenue 118 7.3% 430 3.1% 1) Revenue 305 9.3% 1'075 3.6% Revenue up +3.6% driven by Direct costs -23 0.0% -84 10.5% higher revenue from cablex. Indirect costs 2) -228 4.6% -838 4.5% EBITDA 54 42.1% 153 -4.4% EBIT
Slide 78: Pension plan
Pension plan Status as per 31.12.2023 Valuation difference of CHF 1.1bn IFRS surplus evolution and net pension liability between FER and IFRS as per 31.12.2023 Decrease of surplus by CHF 291mn in CHF bn in CHF mn assumptions valuation method 114.5% Change in discount rate -851 Asset return less inte
Slide 79: Pension cost and cash payments
Pension cost and cash payments Net pension cost impacted by discount rate, but company contributions (cash payments) stable FY 22 FY 23 Change FY 24 in CHF mn reported reported FY 23/24 estimate Segments' pension cost 273 273 6 279 Pension reconciliation 53 -37 15 -22 Net pension cost (EBITDA) 326 2
Slide 80: Cautionary statement
Cautionary statement regarding forward looking statements • "This communication contains statements that constitute "forward- looking statements". In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations
Slide 81: Investor contact
Investor contact Louis Schmid Anastasia Henkel Head Investor Relations Investor Relations Manager louis.schmid@swisscom.com anastasia.henkel@swisscom.com +41 58 221 62 79 +41 58 221 40 80 81
Swisscom Ag Ittigen R/Shs — FY 2023 Earnings Presentation on 6ix