Salem Radio Network News Saturday, December 4, 2021

Business

Swisscom trims 2021 sales outlook, keeps dividend target

ZURICH (Reuters) – Swisscom trimmed its 2021 sales outlook on Thursday, citing a review of its fibre-optic partnership with Salt as well as developments in exchange rates.

“For the financial year 2021, Swisscom now expects net revenue of around 11.2 billion Swiss francs (previously around CHF 11.3 billion) and capital expenditure of around CHF 2.3 billion (previously CHF 2.2 billion to CHF 2.3 billion),” it said while reporting third-quarter results.

It still expected earnings before interest, tax, depreciation and amortisation (EBITDA) of between 4.4 billion and 4.5 billion francs and reiterated it planned to keep its dividend for 2021 unchanged at 22 francs per share.

The state-controlled former telecoms monopoly in August bumped up its profit guidance for 2021 after reporting a 4.9% rise in its half-year EBITDA.

(Reporting by Michael Shields, editing by John Revill)

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