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  • Net debt

    Net debt comprises financial liabilities less cash and cash equivalents, current financial assets and non-current, fixed-interest-bearing deposits. Swisscom’s goal is to achieve a maximum net debt/EBITDA ratio of around 2. This value may be exceeded temporarily. Financial leeway exists if the target is not reached. In CHF million, except where indicated   31.12.2011   31.12.2012   31.12.2013   Change Net...

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  • Indebtedness

    Level of indebtedness Swisscom pursues a finance policy, which provides a maximum net debt/EBITDA ratio of around 2.1. Credit ratings and financing With A (stable) and A2 (stable) respectively, Swisscom enjoys good ratings with the Standard & Poor’s and Moody’s rating agencies. To avoid structural downgrading, Swisscom endeavours to raise financing at the level of Swisscom Ltd. Swisscom aims for a broadly diversified debt portfolio, taking particular care to balance maturities and spread financing instruments, markets and currencies. Sw...

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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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  • Index of keywords

    Search ... Board of Directors Capital expenditure Compensation paid to members of the Board of Directors and the Group Executive Board ...

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  • General conditions

    Macroeconomic environment Swisscom’s financial position, results of operations and cash flows are primarily influenced by macroeconomic factors, notably economic trends, interest rates, exchange rates and the capital markets. Economy Switzerland enjoyed robust economic growth in 2013, thanks in large measure to strong domestic demand. Gross domestic product (GDP) rose by 2%. Despite modest improvement in the economic situation in Europe and an easing of the financial crisis, there is still the risk of a phase of sluggish growth or even a recessio...

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  • Summary of significant accounting policies

    3 Summary of significant accounting policies 3.1 Consolidation Subsidiaries Subsidiaries are all companies over which Swisscom Ltd has the effective ability of controlling their financial and business policies. Control is generally presumed where Swisscom Ltd directly or indirectly holds the majority of the voting rights or potential voting rights of the company. Subsidiaries are included in consolidation from the date on which they are acquired and deconsolidated from the date they are disposed of. Intercompany balances and transactions, income an...

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