CORRECT: Swisscom Reports CHF835 Million 4Q Loss On Fastweb Write-Down
February 15 2012 - 3:08AM
Dow Jones News
Swiss telecoms company Swisscom AG (SCMN.VX) Wednesday reported
a worse-than-expected net loss of 835 million Swiss francs in its
4Q 2011 due to an impairment charge at its Italian unit
Fastweb.
MAIN POINTS:
-4Q net loss of CHF835 million ($911 million) versus profit of
CHF389 million in 2010
-4Q revenue CHF2.93 billion versus CHF3.012 billion in 2010
-Swisscom expects net revenue of CHF11.4 billion, Ebitda of
CHF4.4 billion and capital expenditure of CHF2.2 billion for the
financial year 2012.
-Six analysts polled by Dow Jones Newswires on average forecast
a net loss of CHF800 million.
-Six analysts polled by Dow Jones Newswires on average forecast
revenue of CHF2.93 billion.
-Said it will propose a dividend of CHF22 up from CHF21 for
2010.
-Annual revenue fell 4.3% to CHF11.47 billion from CHF11.99
billion in 2010.
-2011 net profit attributable to shareholders fell to CHF683
million from CHF1.81 billion in 2010.
-Currency reduced CHF250 million from revenues, company
says.
-Says price erosion in Switzerland of CHF508 million could not
be fully offset by customer and volume growth of CHF404
million.
-Annual Revenue at Fastweb declined by 7.1% to EUR1.75
billion.
-By John Revill, Dow Jones Newswires; +41 43 443 8042 ;
john.revill@dowjones.com
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