(Reuters) -Swisscom reported a 39.3% rise in its first-quarter revenue on Thursday, meeting market expectations, citing the successful acquisition of Vodafone Italia.
Group revenue on a reported basis came in at 3.76 billion Swiss francs ($4.56 billion) in the quarter, in line with analysts’ forecast of 3.76 billion francs in a company-provided consensus.
On a pro forma basis, first quarter group revenue fell by 1.2% year-on-year, dragged down by weaker performance on domestic market.
At Swisscom’s Italian business revenue for the quarter remained almost stable at 1.82 billion euros, in line with analysts’ estimates of 1.81 billion euros.
Today’s Swisscom results mark the first quarter since the integration of Vodafone Italia.
In January, the company completed its acquisition of competitor Vodafone Italia, which was consolidated with Swisscom’s Italian unit Fastweb.
With slowing growth and intensified competition in the Swiss telecommunication sector, namely Sunrise Communications’s intention to grow exclusively on Swiss market, the acquisition should help Swisscom to expand its market share.
“Business performance in the first quarter of 2025 met our expectations. Swisscom is on track,” Chief Executive Christoph Aeschlimann said in a statement.
“I am especially pleased that the integration of Vodafone Italia is going as planned,” Aeschlimann added.
($1 = 0.8249 Swiss francs)
(Reporting by Anastasiia Kozlova in Gdansk; Editing by Christopher Cushing)
