Swisscom H1 revenue falls 3%; confirms 2026 forecast for revenue

Swisscom AG

06/08/2026 06:32

Overview
Switzerland telecom operator's H1 revenue fell 3% yr/yr, net income rose 6.9%
Revenue decline driven by lower telecom and IT services in Switzerland and Italy
Company confirmed 2026 guidance and announced executive committee changes for Swiss business

Outlook
Swisscom confirms 2026 guidance for revenue of CHF 14.7-14.9 bln
Company expects 2026 EBITDAaL of CHF 5.0-5.1 bln and capex of CHF 3.0-3.1 bln
Swisscom plans to propose dividend increase to CHF 27 per share for 2026

Result Drivers
COST SAVINGS - Swisscom said strong cost-saving measures offset more than half of the impact from declining telecom services revenue in Switzerland
SYNERGY DELIVERY - Integration of Vodafone Italia delivered synergies and lower costs, boosting Italy segment profitability
LOWER CAPITAL EXPENDITURE - Reduced capital expenditure, mainly impacted by seasonal effects, contributed to higher operating free cash flow

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
CHF 7.22 bln
 
H1 Net Income
 
CHF 668 mln
 
H1 Capex
 
CHF 1.36 bln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "hold" and 9 "sell" or "strong sell"
The average consensus recommendation for the integrated telecommunications services peer group is "buy."
Wall Street's median 12-month price target for Swisscom AG is CHF582.50, about 5.4% below its August 5 closing price of CHF616.00
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago

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Aug 5 - Taiwan's Chunghwa Telecom Q2 revenue rises on strength across segments

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)