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Swisscom H1 Net Income Down, Backs FY View

Swiss telecommunication services firm Swisscom AG (SWZCF.PK,SCMWY.PK) Thursday reported that its net income for the half year slid 6.2 percent to 787 million Swiss francs. Earnings per share declined 6.0 percent to 15.25 francs from 16.22 francs last year.

Due to one-off items, the Group's operating income before depreciation and amortisation, or EBITDA, fell 5.2 percent to 2.143 billion francs, while, on a like-for-like basis, EBITDA slid 0.6 percent.

Net revenue for the first half increased by 2.0 percent to 5.805 bilion Swiss francs.

Looking ahead to the full year 2018, the Group said its financial outlook remains unchanged. Swisscom still expects net revenue of about 11.6 billion francs, EBITDA of around 4.2 billion francs and capital expenditure of less than 2.4 billion francs.

Subject to achieving its targets, Swisscom said it will propose payment of an unchanged dividend of 22 francs per share for the 2018 financial year at the 2019 Annual General Meeting.

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