Swisscom AG: More Capital Lite But Also More Expensive
Source: SeekingAlpha
2025-01-14 12:25:40 ET
Summary
- Swisscom AG's CAPEX burden is minimal compared to peers, but its valuation is not compelling given industry competitiveness and cheaper alternatives.
- Recent earnings show pressure on Swiss businesses but positive revenue in Italy, where SCMWY is acquiring Vodafone Italia, though with limited expected synergies.
- Swisscom targets 80% fiber coverage by 2030, with excess CAPEX representing only 3% of EV, much lower than BT Group's CAPEX burden.
- The company remains a price follower in a highly competitive market, with increasing promotional aggressiveness from competitors like Sunrise.
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Swisscom AG: More Capital Lite But Also More Expensive
Swisscom Ag Ittigen R/Shs
NASDAQ: SWZCF
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