Full Year 2024 Swisscom AG Earnings Call Transcript
Key Points
- Swisscom AG (SCMWY) achieved a solid financial performance in 2024, with a stable revenue of CHF11 billion, driven by growth in the Italian market.
- The company successfully completed the acquisition of Vodafone Italia, enhancing its scale and convergence potential in the telecom sector.
- Swisscom AG (SCMWY) maintained its leadership in customer experience in Switzerland, winning all relevant surveys and network tests.
- The company made significant advancements in AI, launching new products and leveraging its AI infrastructure to improve efficiency and product quality.
- Swisscom AG (SCMWY) achieved a milestone in fiber rollout, covering more than half of Switzerland with its FTTH footprint, and plans to reach 90% coverage by 2035.
- Swisscom AG (SCMWY) faced a decline in service revenue in Switzerland, with a CHF112 million drop in 2024, primarily due to competitive pressures.
- The company experienced a negative evolution in the TV market, with a shift towards OTT and streaming offerings impacting traditional TV packages.
- In Italy, Vodafone Italia saw a decline in B2C mobile service revenue, driven by a reduction in subscriber numbers and mobile termination rates.
- The integration of Vodafone Italia involves significant costs, with CHF700 million in integration expenses anticipated, impacting short-term financials.
- Swisscom AG (SCMWY) faces ongoing competitive pressure in the Swiss B2B segment, particularly in the SME space, affecting ARPU and market share.
Good afternoon and welcome to Swisscom's full year results presentation 2024.
My name is Louis Schmid, Head of Investor Relations, and with me are our CEO, Christoph Aeschlimann; our CFO, Eugen Stermetz; and Walter Renna, CEO Fastweb Vodafone.
Before we move on to today's agenda, a few comments on page 2 on our approach of financial communication this year. Obviously affected by the successfully completed acquisition of Vodafone Italia and its consolidation from January 1, 2025.
As you can see on this slide, we will present you today first our financial results 2024 audited and excluding Vodafone Italia. Second, some selected figures on Vodafone Italia 2024 and Fastweb Vodafone 2024, both pro forma and preliminary to provide a basis for comparison.
Pro forma stands for LTM, last 12 month figures as if Vodafone Italia had been consolidated from January 1, restated for harmonization effects, and unauuddied. And preliminary means that the restatement and consolidations are not yet final.
And third, the
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