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Swisscom rings up higher profits and sales

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Swisscom rings up higher profits and sales
Photo: Swisscom
10:50 CET+01:00
Swisscom, Switzerland's leading telecom company, on Thursday announced a six percent rise in net profits to 1.3 billion francs ($1.35 billion) for the first nine months of 2014 over the same period last year.

The company said revenues increased by two percent to 8.6 billion francs.

Swisscom said the high level of price erosion in its core Swiss business was offset by growth.

For example, Swisscom TV connections jumped by more than 19 percent to more than 1.1 million, while revenue from bundled contracts climbed by more than 24 percent to 1.4 billion francs.

The number of mobile customers increased 2.4 percent to around 6.5 million, including two million subscribed to the Natel Infinity (unlimited usage) package.

With more than 21,000 employees, Swisscom boosted its capital expenditures in the nine-month period by almost eight percent to more than 1.7 billion francs, 1.2 billion francs of which was in Switzerland.

The company said it is continuing to expand its 4G/LTE network and more than 94 percent of Swiss customers are currently able to access the “latest generation” mobile network, a share that is expected to rise to 99 percent by 2016.

It expects sales for the year to reach 11.5 billion francs with total investments reaching 2.4 billion francs.

If the company reaches its objectives, Swisscom said it expects to pay a dividend of 22 francs per share for 2014. 

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