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Swisscom FY Profit, Revenue Up

Swiss telecommunication services firm Swisscom AG (SWZCF.PK,SCMWY.PK) on Thursday reported nearly 10 percent growth in net profit for the full year, due to one-off effects in income tax expense, with revenues 2.2 percent higher from last year.

The Group's net profit for the year grew 9.7 percent to 1.67 billion Swiss francs from 1.52 billion francs last year.

Consolidated operating income before depreciation and amortisation or EBITDA was up 3.4 percent to 4.358 billion francs, positively impacted by new requirements governing the financial reporting of leases.

The Group's revenue for the year grew 2.2 percent to 11.45 billion francs. Revenues from saturated swiss core business slid by 2.8 percent to 8.56 billion francs, reflecting persistent competition and pricing in various segments as well as the downward trend in fixed-line telephony. Fastweb reported revenue growth of 5.4 percent.

Looking ahead to 2020, Swisscom expects net revenue of about 11.1 billion francs, EBITDA of around 4.3 billion francs and capital expenditure of around 2.3 billion francs.

Subject to achieving its targets, Swisscom said, it will propose a dividend of 22 francs per share for the 2020 financial year at the 2021 Annual General Meeting.

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