Financial position
| In CHF million | 2013 | 2012 | Change | |||
|---|---|---|---|---|---|---|
| Operating income before depreciation and amortisation (EBITDA) | 4,302 | 4,477 | (175) | |||
| Capital expenditure in property, plant and equipment and other intangible assets | (2,396) | (2,529) | 133 | |||
| Proceeds from sale of tangible and other intangible assets | 28 | 25 | 3 | |||
| Change in defined benefit obligations | (20) | (180) | 160 | |||
| Change in net working capital and other cash flows from operating activities | 78 | 103 | (25) | |||
| Dividends paid to non-controlling interests | (14) | (14) | – | |||
| Operating free cash flow | 1,978 | 1,882 | 96 | |||
| Net interest paid | (243) | (236) | (7) | |||
| Income taxes paid | (278) | (190) | (88) | |||
| Free cash flow | 1,457 | 1,456 | 1 | |||
| Other cash flows from investing activities, net | (149) | 1 | (150) | |||
| Issuance and repayment of financial liabilities, net | 37 | (75) | 112 | |||
| Dividends paid to equity holders of Swisscom Ltd | (1,140) | (1,140) | – | |||
| Other cash flows | (21) | (18) | (3) | |||
| Net increase in cash and cash equivalents | 184 | 224 | (40) |
Free cash flow was almost unchanged versus the previous year at CHF 1,457 million. Higher income tax payments and higher net interest payments offset the increase in the operating cash flow. The main reason for the increase in operating free cash flow was the lower capital expenditure in comparison with the previous year. Capital expenditure fell by CHF 133 million or 5.3% year-on-year to CHF 2,396 million. Excluding these costs, investments for mobile frequencies increased by CHF 227 million or 10.5% to CHF 360 million, primarily as a result of increased investment at Fastweb. The change in defined benefit obligations in the previous year includes non-cash non-recurring income of CHF 157 million resulting from a pension plan adjustment. Net working capital was CHF 78 million lower versus the end of 2012 (prior year: CHF 103 million). The decrease is primarily the result of lower trade receivables. In 2013, Swisscom paid dividends totalling CHF 1,140 million to its shareholders (prior year: CHF 1,140 million).