Swisscom Ag · SIX:SCMN
Swisscom — 4th annual Swiss Equities Conference, Deutsche Bank 2003
8 slides from Swisscom's conference presentation, May 21, 2003
Slide 1: Presentation Swisscom at the 4th annual Swiss Equities Conference
Presentation Swisscom at the 4th annual Swiss Equities Conference Deutsche Bank Mike Shipton, Chief Strategy Officer, Swisscom AG 21 May 2003, Bürgenstock, Switzerland 1
Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements ”This communication contains statements that constitute "forward-looking statements". In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations an
Slide 3: Who is Swisscom?
Who is Swisscom? 1. leading telco in CH … successfully defending strong market position … distinguishing from competition on high quality and reliability … focussed on operating cost and staff reductions to sustain margins Þ with ultimate aim of optimising free cash from core business 2. intelligent
Slide 4: Swisscom introduces new Return Policy to shareholders
Swisscom introduces new Return Policy to shareholders from “dividend policy” to “return policy” returning the full annual equity free cash paying approx. half of adjusted net flow (EFCF) to shareholders, through: income + opportunistic return of • dividends funds through share buy back • par value r
Slide 5: New Return Policy - reflects who we are
New Return Policy - reflects who we are Strategy: Implication: how we Return policy 2002 who we are run the business (definition of EFCF) 1 + EBITDA + 4,413 - CAPEX - 1,222 Leading multi service Optimise cash flow +/- working cap. D + 2 telco in Switzerland from current business - tax (cash) - 537 -
Slide 6: New Return Policy - builds on strong outlook
New Return Policy - builds on strong outlook Return Policy 2002 Q1 2003 results Outlook 2003 (compared to 2002) + EBITDA + 4,413 + 1,163 + 4.4 - CAPEX - 1,222 - 228 similar +/- working cap. D + 2 + 14 + positive - tax (cash) - 537 + 46 - lower - net interest - 78 - 16 - similar - minorities - 304 -
Slide 7: Update on the "quest for acquisitions"
Update on the “quest for acquisitions” Criteria Explanation Rationale Focus on sustainable cash flow What is the uniqueness of sustainability generation and accretion the constellation? to group cash flows what makes Swisscom a better investor than a financial Potential synergies, and ability invest
Slide 8: In summary: Your "bets" when investing in Swisscom
In summary Your 3 “bets” when investing in Swisscom 1. leading telco in CH Swisscom is able to sustain strong annual equity free cash flows - through continued strong operational performance 2. intelligent investor Swisscom doesn’t have a long term strategic (scale) problem if it doesn’t acquire, an
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