Following the acquisition of Vodafone Italy, Swisscom saw its turnover climb approximately 37% in the first half of 2025. Despite costs linked to integration and a drop in results, the integration of the Italian group is progressing as expected.
After having received the approval of the Italian competition authority as well as the Italian ministry of the company and the Made in Italy, Swisscom finalized on December 31, 2024 the acquisition of Vodafone Italia, an operation which had been the subject of a deepened examination by the Italian authorities. Swisscom now presents its first common figures since the acquisition. The Telecom group increased its turnover by almost 37% in the first half of 2025, reaching 7.45 billion francs, according to a press release.
The EBITDA after rental expenses (Ebitdaal) increased by 15.9%, reaching 2.47 billion francs, while the available cash flow of operations increased by 1.2%, stood at 989 million francs.
Considering the hypothetical integration of Vodafone Italia from January 1, 2024, the telecom group recorded a decline of 2.3% of its turnover and 5.5% of its Ebitdaal compared to the previous year, according to the press release. The net profit has dropped by 25%, to 625 million Swiss francs, partly due to the costs linked to the acquisition.
However, the integration of Vodafone Italia takes place as planned. Migration of mobile customers Fastweb to the Vodafone network should be completed by the end of the year. Synergies should start to “bear fruit” from the second half of 2025, according to the press release.
The Swiss market maintains its stability
In Switzerland, the evolution remained stable. According to Swisscom, turnover fell slightly 1.9% to 3.9 billion francs. The turnover of telecommunications services fell 2.2%, while that of IT services intended for commercial customers increased by 1.5%. The Ebitdaal of the Swiss segment remained practically stable at 1.68 billion francs, while the available operational cash flow increased by 1.6%, says Swisscom.
Recently, Swisscom launched the BEEM solution in the cybersecurity sector, designed to directly protect SMEs within the network. At the end of June 2025, almost 54% of Swiss households and shops were covered in optical fiber by Swisscom, while 5G+ technology reached 87% of the population.
Financial prospects for 2025
For the year 2025, SWISSCOM provides for turnover between 15 and 15.2 billion Swiss francs, as well as an Ebitdaal of around 5 billion francs. Investments should amount to around 3.1-3.2 billion, including 1.7 billion devoted to the Swiss market. In the event of achievement of the objectives, Swisscom plans to increase the dividend at 26 francs per share.
