April 30, 2020 / 5:26 AM / 3 months ago

BRIEF-Swisscom Says Q1 Net Profit Up 2.9%, Keeps 2020 Outlook Unchanged

April 30 (Reuters) - Swisscom AG:

* GROUP REVENUE IN LINE WITH EXPECTATIONS, OPERATING INCOME (EBITDA) STABLE AT CHF 1,111 MILLION, MINIMAL IMPACT OF COVID-19 ON FINANCIAL RESULTS IN THE FIRST QUARTER

* BUNDLED OFFERS STILL IN DEMAND, 68% OF PRIVATE CUSTOMERS USE IN ONE MOBILE COMMUNICATIONS SERVICES

* FASTWEB GROWS IN ALL CUSTOMER SEGMENTS

* ONGOING HIGH INVESTMENT IN NETWORKS IS PAYING OFF: FOUR TEST AWARDS IN FIRST QUARTER

* OUTLOOK FOR FULL-YEAR 2020 UNCHANGED BUT THERE ARE UNCERTAINTIES REGARDING THE FINANCIAL IMPACT OF COVID-19

* AT CHF 2,737 MILLION, Q1 GROUP REVENUE WAS DOWN YEAR-ON-YEAR (-4.3%)

* BUSINESS IN ITALY CONTINUED TO DEVELOP POSITIVELY: FASTWEB REPORTED YEAR-ON-YEAR REVENUE GROWTH OF EUR 29 MILLION (+5.6%)

* IN OVERALL TERMS, SWISSCOM GENERATED SOLID NET PROFIT OF CHF 394 MILLION, UP 2.9% ON THE PRIOR-YEAR LEVEL DUE TO ONE-TIME EFFECTS IN INCOME TAX EXPENSE

* FOR 2020, SWISSCOM CONTINUES TO EXPECT NET REVENUE OF AROUND CHF 11.1 BILLION, EBITDA OF AROUND CHF 4.3 BILLION AND CAPITAL EXPENDITURE OF AROUND CHF 2.3 BILLION

* AT PRESENT IT IS NOT POSSIBLE TO QUANTIFY THE POTENTIAL FINANCIAL IMPACT OF COVID-19

* IF BUSINESS DEVELOPS AS PLANNED, SWISSCOM WILL PROPOSE TO 2021 ANNUAL GENERAL MEETING THAT DIVIDEND FOR 2020 FINANCIAL YEAR REMAIN UNCHANGED AT CHF 22 PER SHARE Source text for Eikon: [tinyurl.com/ya97f9zs] Further company coverage: (Berlin Speed Desk)

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