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UPDATE 1-Swisscom upgrades 2021 outlook, strikes deal with Salt

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ZURICH, April 29 (Reuters) - Swisscom upgraded its 2021 outlook on Thursday, citing ongoing business growth, a weaker Swiss franc against the euro, and a new fibre-optic partnership with peer Salt.

It is now forecasting net revenue of around 11.3 billion Swiss francs ($12.42 billion), earnings before interest, tax, depreciation and amortisation (EBITDA) of 4.3-4.4 billion francs and capital expenditure of 2.2-2.3 billion.

Swisscom in February had forecast net revenue of around 11.1  billion francs, EBITDA of around  4.3  billion francs and capital expenditure of around  2.3  billion.

“If business grows as planned, Swisscom will propose to the 2022 Annual General Meeting that the dividend for the 2021 financial year should remain unchanged at CHF 22 per share,” it reiterated.

First-quarter EBITDA rose 1.2% to 1.12 billion francs on revenue of 2.80 billion, up 2.4%, it said.

The market had expected first-quarter EBITDA of 1.09 billion francs on sales of 2.71 billion, according to a consensus of 15 analyst estimates compiled by the company.

Swisscom generated a quarterly net profit of 638 million francs, up 61.9% year on year due to non-recurring items in the financial results.

$1 = 0.9095 Swiss francs Reporting by Michael Shields; Editing by Maria Sheahan and John Miller

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