Swisscom AG (SCMWY) Q3 2024 Earnings Call Transcript

Swisscom AG (OTCPK:SCMWY) Q3 2024 Results Conference Call October 31, 2024 4:00 AM ET

Company Participants

Louis Schmid – Head of Investor Relations
Christoph Aeschlimann – Chief Executive Officer
Eugen Stermetz – Chief Financial Officer

Conference Call Participants

Joshua Mills – BNP Paribas
Maurice Patrick – Barclays
Titus Krahn – Bank of America
Andrew Lee – Goldman Sachs
Nuno Vaz – Bernstein
Usman Ghazi – Berenberg
Dhruva Shah – UBS

Operator

Good morning, and thank you for joining the Swisscom Q3 2024 Results Conference Call, hosted by Christoph Aeschlimann, Eugen Stermetz and Louis Schmid. Louis, the floor is yours.

Louis Schmid

Good morning, ladies and gentlemen, and welcome to Swisscom’s Q3 2024 results presentation. My name is Louis Schmid, Head of Investor Relations. And with me are our CEO, Christoph Aeschlimann; and Eugen Stermetz, our Chief Financial Officer.

Our CEO starts the presentation with Chapter 1 and a quick overview on the highlights, the operational results and financial performances of the third quarter. And in Chapter 2, Christoph presents a business update for Switzerland and Italy. In the second part of today’s presentation, Eugen gives a short update on the Vodafone Italia transaction in Chapter 3 and then runs you through Chapter 4 with the Q3 financials, including the confirmation of our full year guidance.

With that, I would like to hand over to Christoph to start his part. Christoph?

Christoph Aeschlimann

Thank you, Eugen, and welcome, everybody, to this Q3 2024 call on Halloween Day. I will move directly to Page #4, highlighting the highlights of Q3. You can see that we have a flattish underlying top line and EBITDA development, but with telco savings picking up and slightly higher CapEx, but overall, we are confirming our full year guidance for 2024.

In Switzerland, the business trends are unchanged, and we