Swisscom share

Swisscom’s market capitalisation as at 31 December 2014 amounted to CHF 27.1 billion (previous year: 24.4 billion). The number of shares outstanding remained the same at 51.8 million. Par value per registered share is CHF 1. Each share entitles the holder to one vote. Voting rights can only be exercised if the shareholder is entered in the share register of ­Swisscom Ltd with voting rights. The Board of Directors may refuse to enter a shareholder with voting rights if such voting rights exceed 5% of the company’s share capital.

Ownership structure

  31.12.2014   31.12.2013
    Number of
Shareholders
  Number of
Shares
  Share
in %
  Number of
Shareholders
  Number of
Shares
  Share
in %
Confederation   1   26,394,000   51.0%   1   26,535,500   51.2%
Natural person   62,359   4,260,624   8.2%   63,531   4,453,496   8.6%
Institution   2,699   21,147,319   40.8%   2,614   20,812,947   40.2%
Total   65,059   51,801,943   100.0%   66,146   51,801,943   100.0%

The majority shareholder as at 31 December 2014 was the Swiss Confederation, with 51.0% of the voting rights and capital. The Confederation is obligated by current law to hold the majority of the capital and voting rights. As at 31 December 2014, around 95% of the registered shareholders were from Switzerland.

Stock exchanges

Swisscom shares are listed on the SIX Swiss Exchange under the symbol SCMN (Securities No. 874251). In the United States they are traded in the form of American Depositary Receipts (ADR) at a ratio of 1:10 (Over The Counter, Level 1) under the symbol SCMWY (Pink Sheet No. 69769).

Share performance

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The Swiss Market Index (SMI) gained 9.5% compared with the previous year. The ­Swisscom share price increased by 11.0% to CHF 522.50, performing better than the European Stoxx Europe 600 Telecommunications Index (5.6% in CHF; 7.5% in EUR). Average daily trading volume fell by 5.8% to 97,881 units. Total trading volume of ­Swisscom shares in 2014 amounted to CHF 12.9 billion.

Shareholder return

On 14 April 2014 ­Swisscom paid out an ordinary dividend of CHF 22 per share. Based on the closing price at the end of 2013, this equates to a return of 4.7%. Taking into account the rise in share price, ­Swisscom achieved a total shareholder return (TSR) of 15.7% in 2014. The TSR for the SMI was 12.0% and for the Stoxx Europe 600 Telecommunications Index 10.6% in CHF and 12.7% in EUR.

Swisscom share performance indicators

        2010   2011   2012   2013   2014
Par value per share at end of year   CHF   1.00   1.00   1.00   1.00   1.00
Number of issued shares at end of period   in thousand   51,802   51,802   51,802   51,802   51,802
Market capitalisation at end of year   in CHF million   21,296   18,436   20,400   24,394   27,067
Closing price at end of period   CHF   411.10   355.90   393.80   470.90   522.50
Closing price highest   CHF   420.80   433.50   400.00   474.00   587.50
Closing price lowest   CHF   358.00   323.10   334.40   390.20   467.50
Earnings per share   CHF   35.00   13.19   34.90   32.53   32.70
Ordinary dividend per share   CHF   21.00   22.00   22.00   22.00   22.00 1
Ratio payout/earnings per share   %   60.00   166.79   63.04   67.63   67.27
Equity per share at end of year   CHF   102.89   82.47   79.77   115.30   105.29
1 In accordance with the proposal of the Board of Directors to the Annual General Meeting.

Analysts’ recommendations

Investment specialists analyse ­Swisscom’s business performance, results and market situation on an ongoing basis. Their findings and recommendations offer valuable indicators for investors. 29 analysts regularly publish studies on ­Swisscom. At the end of 2014, 31% of the analysts recommended a buy rating for the ­Swisscom share, 48% a hold rating and 21% a sell rating. The average price target at 31 December 2014, according to the analysts’ estimates, was CHF 559 per share.