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Swisscom AG said on Thursday that net profit and revenues for 2020 have declined year-over-year amid the coronavirus pandemic and confirmed its intention to propose an unchanged dividend for 2020 at its annual general meeting.
The Swiss telecommunications group – which operates the fixed-line and Internet service provider Fastweb – said net profit for the year rose to 1.53 billion Swiss francs ($ 1.70 billion) from 1.00 billion. 67 billion francs for 2019.
Net sales for the period fell to CHF 11.10 billion from CHF 11.45 billion.
Profit before interest and taxes increased to CHF 1.95 billion from CHF 1.91 billion, while profit before interest, taxes, depreciation and amortization climbed to CHF 4.38 billion from CHF 4.36 billion from CHF.
Swisscom has announced that it will propose a 2020 dividend of CHF 22 per share at its annual general meeting, unchanged from its 2019 dividend.
The company has released forecasts for 2021, forecasting net sales of around 11.1 billion francs, EBITDA of around 4.3 billion francs, and capital expenditure of around 2.3 billion francs. of francs.
Write to Mauro Orru at [email protected]; @ MauroOrru94
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