Swisscom faces major challenges. It is neither analysts nor market watchers who are saying so. But Urs Schaeppi, director of the operator. Thursday, on the occasion of the publication of half-year results, the manager spoke of “a difficult market context”. Three months ago, during the quarterly results, he already said: “The market environment is difficult.” And six months ago, when announcing the 2019 results, he said that Swisscom was “again recording solid results in a demanding market environment”.
The words are almost always the same. But the picture is probably not so gloomy. Thursday, the operator controlled by the Confederation announced a turnover of 5.443 billion francs (-2.7% after adjustment), for a net profit of 736 million (-5.6%). With results where variations of a double-digit percentage are exceptional, Swisscom is an extremely stable group and perfectly equipped to face the new operator resulting from the merger, announced on Wednesday, between Sunrise and UPC.
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