Swisscom from the start to the quarter, a 0.9 percent decrease in sales of 2.86 billion francs. The operating profit (EBITDA) increased by 5.8 percent to 1.12 billion, as the Telecom company announced on Thursday.

This had mainly to accounting reasons (IFRS 16). But even without this effect, this measure would have improved the number of 1.4 percent. The bottom line is 1.1 per cent higher net profit of 383 million.

sales continued the pattern of the past: Swisscom eroded in Switzerland and growing in Italy. In Germany, sales fell by 1.9 per cent to 2.16 billion Swiss francs, which will be explained with continued price pressure in different segments and the decline in landline telephony.

However, the Italian broadband subsidiary, Fastweb, which is also in the mobile, again, upward. Sales climbed by 4.5 percent.

The improved profitability is explained by an improved result from Fastweb and the austerity programme in Switzerland. The latter should also be, as planned, continued. This is also associated with a reduction of. In the first quarter of well over 100 full-time positions have been reduced in Switzerland.

in Total, has exceeded the Swisscom the expectations of the financial community. Analysts had expected on average (AWP-consensus) with a sales volume of 2.81 billion francs, EBITDA of 1.07 billion and a net profit of 371 million.

The targets for the full year are unchanged. So, Swisscom is aiming for sales of around 11.4 billion to 11.7 billion in the previous year. EBITDA-Swisscom expects about 4.3 billion Swiss francs. Of the targeted investment of 2.3 billion Swiss francs are to be made in addition to around 1.6 billion in Switzerland. In addition, an unchanged dividend of 22 Swiss francs, is promised, should the objectives be achieved.

(SDA)

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Jennifer Alvarez is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.