Swisscom reported a 2.1 percent decline in group revenue to CHF 10.94 billion during the first nine months of 2026, compared with CHF 11.18 billion a year earlier, as intense competition affected mobile and broadband subscriber growth in Switzerland and Italy.
The telecom operator reduced capital expenditure by 5.9 percent to CHF 2.04 billion while continuing to expand its fiber broadband and 5G networks.
Swisscom’s fiber network reached approximately 59 percent of households and businesses in Switzerland, while its 5G+ network covered 90 percent of the population at the end of September 2026.
In Italy, its Fastweb + Vodafone business achieved fiber coverage of 63 percent of households and businesses and 5G population coverage of 91 percent.
The company reported declining broadband and mobile connections in Italy, while its Swiss postpaid mobile subscriber base remained broadly stable.
Swisscom Capex Falls 5.9 Percent to CHF 2.04 Billion
Swisscom reduced group capital expenditure by CHF 128 million to CHF 2.04 billion during January–September 2026, compared with CHF 2.17 billion in the corresponding period of 2025.
Capital expenditure in Switzerland decreased 6.5 percent to CHF 1.15 billion from CHF 1.23 billion, reflecting lower investment in access networks and seasonal factors.
In Italy, capex declined 5.1 percent in Swiss franc terms to CHF 900 million from CHF 949 million.
Measured in euros, Fastweb + Vodafone’s capital expenditure decreased 3.7 percent to €974 million from €1.01 billion.
Italian capex included €87 million for Vodafone Italia integration, compared with €53 million a year earlier, and €10 million for mobile site consolidation on the INWIT network, down from €22 million.
Excluding these items, Italian capital expenditure decreased 6.3 percent, primarily due to reduced spending on mobile and fixed access networks and lower customer-driven investment.
Swisscom expects full-year 2026 capital expenditure of CHF 3.0 billion to CHF 3.1 billion, including CHF 1.6 billion to CHF 1.7 billion in Switzerland and approximately €1.5 billion in Italy.
Swisscom Fiber Broadband Coverage Reaches 59 Percent in Switzerland
Swisscom expanded its optical fiber infrastructure to approximately 59 percent of households and businesses in Switzerland by September 2026.
Despite its expanding fiber footprint, Swisscom’s Swiss broadband customer base declined 2.4 percent to 1.896 million connections from 1.942 million a year earlier.
The company lost approximately 46,000 broadband connections during the 12-month period.
Wholesale fixed-network access lines increased 5.9 percent to 808,000 from 763,000, representing an addition of approximately 45,000 connections.
The contrasting trends indicate that Swisscom continued expanding wholesale access even as its retail broadband customer base contracted.
Competition in Switzerland’s broadband market remained challenging, contributing to lower fixed broadband subscriptions.
Fastweb + Vodafone Fiber Coverage Reaches 63 Percent in Italy
Swisscom’s Italian subsidiary Fastweb + Vodafone achieved optical fiber coverage of approximately 63 percent of households and businesses by the end of September 2026.
However, its Italian broadband subscriber base declined 2.6 percent to 5.45 million from 5.60 million in September 2025.
The operator lost approximately 148,000 broadband connections, including 125,000 residential and 23,000 business broadband customers.
In contrast, wholesale fixed-network access lines increased 20.6 percent to 1.283 million from 1.063 million, adding approximately 220,000 connections.
The expansion in wholesale broadband connections helped support the company’s fixed-network business despite declining retail subscriptions.
Across Switzerland and Italy, Swisscom reported approximately 7.35 million retail broadband connections, down from approximately 7.54 million a year earlier.
Swisscom 5G Network Coverage Reaches 90 Percent in Switzerland and 91 Percent in Italy
Swisscom reported 5G+ population coverage of approximately 90 percent in Switzerland as of September 30, 2026.
The company’s Italian mobile network, operated through Fastweb + Vodafone, reached approximately 91 percent of the population with 5G.
The operator continued investing in mobile network infrastructure in both markets, although overall capital expenditure declined.
In Italy, network investments included the consolidation of mobile sites on the INWIT infrastructure and integration of Vodafone Italia’s network operations.
Swisscom’s reported coverage figures demonstrate its continued emphasis on 5G network availability despite lower capital spending.
Swisscom Mobile Subscribers Remain Stable at 4.43 Million
Swisscom reported 4.428 million postpaid value wireless connections in Switzerland at the end of September 2026, virtually unchanged from 4.427 million a year earlier.
The company added approximately 1,000 connections during the 12-month period.
The stable mobile subscriber base contrasts with declining broadband connections, highlighting the competitive conditions affecting Switzerland’s telecommunications market.
In Italy, Fastweb + Vodafone reported 19.651 million retail mobile connections, compared with 20.168 million in September 2025.
The Italian mobile subscriber base declined 2.6 percent, representing a net reduction of approximately 517,000 connections.
Residential mobile connections decreased by 565,000, partially offset by an increase of 48,000 business mobile connections.
Wholesale mobile connections in Italy declined sharply by 40.8 percent to 4.773 million from 8.060 million.
The reduction of approximately 3.287 million wholesale connections was mainly associated with the loss of major mobile virtual network operator customers, including Poste Mobile and Lyca Mobile.
Swisscom Revenue Declines in Switzerland and Italy
Swisscom’s Switzerland business generated revenue of CHF 5.826 billion during the first nine months of 2026, declining 0.6 percent from CHF 5.862 billion.
Revenue from residential customers decreased 0.6 percent to CHF 3.174 billion, while business customer revenue fell 1.6 percent to CHF 2.190 billion.
Swiss residential telecommunications service revenue declined CHF 25 million, or 0.9 percent.
Business telecommunications service revenue decreased CHF 47 million, or 4.3 percent.
Swisscom’s Italian operations generated revenue of €5.262 billion, declining 2.2 percent from €5.383 billion.
Italian residential customer revenue decreased 1.8 percent to €2.383 billion, while business customer revenue declined 3.7 percent to €2.257 billion.
Residential telecommunications service revenue in Italy fell €78 million, or 3.5 percent, reflecting the shrinking subscriber base.
Italian wholesale revenue increased 1.7 percent to €605 million, supported by growth in wholesale fixed-network connections.
For the full year 2026, Swisscom expects group revenue between CHF 14.7 billion and CHF 14.9 billion, including CHF 7.7 billion to CHF 7.8 billion from Switzerland and approximately €7.2 billion from Italy.
Swisscom Churn and ARPU Performance
Swisscom’s nine-month report highlights subscriber losses in Italy and broadband customer declines in Switzerland, but does not disclose specific numerical customer churn rates or average revenue per user (ARPU).
In Switzerland, postpaid mobile connections remained stable at 4.428 million, while broadband connections declined by 46,000.
In Italy, retail mobile connections fell by 517,000 and broadband connections declined by 148,000.
These figures reflect net changes in the subscriber base rather than actual customer churn rates.
The reduction in Italian residential telecommunications service revenue, alongside declining mobile and broadband subscriptions, indicates continuing competitive pressure on the operator’s retail business.
Swisscom’s 2026 performance shows that expanding fiber and 5G network coverage has not yet translated into retail subscriber growth across its two principal markets. Lower capex, declining broadband connections and pressure on telecommunications service revenue remain the central trends in its Switzerland and Italy operations.
BABURAJAN KIZHAKEDATH
