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Financial risk management and supplementary disclosures regarding financial instruments
Swisscom is exposed to various financial risks resulting from its operating and financial activities. The most significant financial risks arise from changes in foreign exchange rates, interest rates as well as creditworthiness and the ability of counterparties to meet their payment obligations. A further risk arises from the ability to ensure adequate liquidity. Swisscom’s financial risk management is conducted in accordance with established guidelines with the aim of limiting potential adverse effects on the financial situation of Swisscom. In ...
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Risk management system
Swisscom’s enterprise risk management (ERM) applies Group-wide and takes both internal and external events into account. Swisscom observes the established COSO II and ISO 31000 risk management standards and thus has a risk management system in place that complies with the requirements of its own corporate governance policy as well as those under Swiss law. Objectives Swisscom’s risk management is aimed at safeguarding the company’s enterprise value. This is assured by having in place a recognised and appropriate Group-wide risk management...
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Risk factors
Telecommunications market Changes within the telecoms market, structural adjustments and competition from service providers who do not maintain their own telecoms infrastructure are exerting pressure on transformation. It remains to be seen which technologies and services will emerge the winners. Current trends are increasingly necessitating the integration of a growing number of technologies and devices in order to win new customers and deliver multimedia services. The integration and operation of new infrastructures entails significant risks in ter...
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Risk assessment process
Swisscom has a centralised risk management system in place that distinguishes between strategic and operative risks. All identified risks are quantified as a function of the probability of occurrence and possible impact and are set forth in a risk report. The risk report is discussed periodically by the Audit Committee. Management aims to monitor and control risks on an ongoing basis. A risk assessment is undertaken to identify the risks arising from the application of the accounting principles or from financial reporting. Control mechanisms are def...
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Protecting minors in the media and promoting media skills
Protecting minors in the media and guidelines on media content The use of digital media provides us with new opportunities but also entails new risks. The opportunities significantly outweigh the risks. However, the risks associated with digital media are particularly prevalent for children and young people. Swisscom is determined not to leave parents to shoulder the responsibility of handling these risks alone. Swisscom supports parents and teachers by providing a wide range of information, resources and products. Children and young people who ...
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General statement on the risk situation
Risks are driven by changes in technology, the regulatory environment, markets, competition and customer behaviour. The importance of established telecoms services is continuing to decline, and the associated loss of revenue from traditional core business needs to be compensated by driving customer and volume growth and offering new services. The economic environment remains uncertain and is having an effect, among other things, on customers and suppliers. Over the long term the trend in the ICT market will necessitate fundamental changes in the app...
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Supplier risk management
Risk management system The risk management system established itself further in 2013 within Swisscom, enabling the continued reduction of environmental and social risks. The implementation and results achieved are shown below. On the strength of the recent past experience, the risk assessment of product groups conducted in 2012 was not repeated in 2013.Swisscom will check the accuracy and up-to-dateness of the product groups again in spring 2014. In 2012, Swisscom began reviewing its current supply partners from medium-risk product groups and as...
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Trade and other receivables
In CHF million 31.12.2013 31.12.2012restated Billed revenue 2,321 2,483 Accrued revenue 206 186 Allowances (164) (209) Total trade receivables, net 2,363 2,460 ...
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3 Board of Directors
3.1 Members of the Board of Directors The Board of Directors of Swisscom Ltd currently comprises nine members, none of whom holds or has held an executive role within the Swisscom Group in any of the three business years prior to the period under review. The Board members have no significant commercial links with Swisscom Ltd or the Swisscom Group. The Swiss Confederation, represented on the Board by Hans Werder, owns a majority stake in Swisscom. Customer and supplier relationships exist between the Swiss Confederation and Swisscom. Details of th...
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