WORBLAUFEN (dpa-AFX) - Swiss telecommunication services firm Swisscom AG (SWZCF.PK, SCMWY.PK) reported Thursday that its fiscal 2020 net income was 1.53 billion Swiss francs, down 8.4 percent from last year's 1.67 billion francs.
Operating income or EBIT increased 1.9 percent to 1.95 billion francs. Operating income before depreciation and amortisation or EBITDA edged up 0.6 percent to 4.38 billion francs.
Group revenue decreased 3.1 percent to 11.10 billion francs from 11.45 billion francs a year ago.
On a like-for-like basis and at constant exchange rates, revenue declined by 2.3 percent while EBITDA remained stable.
The COVID-19 pandemic has had a negative impact, particularly on roaming revenues.
Further, the company said a proposal will be made to the Annual General Meeting to pay an unchanged dividend of 22 francs per share for the 2020 financial year.
Looking ahead for the 2021 financial year, Swisscom expects net revenue of around 11.1 billion francs, EBITDA of around 4.3 billion francs and capital expenditure of around 2.3 billion francs.
Subject to achieving its targets, Swisscom will propose to pay an unchanged, attractive dividend of 22 francs per share for the 2021 financial year at the 2022 Annual General Meeting.
Michael Rechsteiner, who has been a member of the Board since 2019, is the proposal of the Board of Directors for Chairman. As already announced, the Chairman of the Board, Hansueli Loosli, will reach the maximum term of office and will not stand for re-election.
The Board of Directors is proposing Guus Dekkers for election as a new member of the Board.
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