Swisscom AG Exits the Swiss Market Index (SMI)

Swisscom AG, the Swiss telecommunications network operator and service provider, has been removed from the Swiss Market Index (SMI) as part of a recent rotation in the index. The change was announced by the Swiss exchange operator SIX on 21 September 2026.

Context of the Index Rotation

The SMI, which comprises the largest and most liquid Swiss blue‑chip companies, undergoes periodic adjustments to reflect the evolving market landscape. In the latest update, Swisscom was replaced by the shares of Galderma and Sandoz. This adjustment follows a broader trend of shifting market dynamics and aims to maintain the index’s representativeness of the Swiss equity market.

Swisscom’s Market Position Prior to Removal

  • Exchange: SIX Swiss Exchange
  • Sector: Communication Services – Diversified Telecommunication Services
  • Market Capitalisation: CHF 33,590 million (as of the latest reported period)
  • Price‑Earnings Ratio: 25.71
  • Share Price (17 September 2026): CHF 648.50
  • 52‑Week Range: CHF 545.00 – CHF 727.00

Swisscom’s performance had been stable, with its share price remaining within the 52‑week range. However, the removal from the SMI reflects a strategic realignment rather than a deterioration in financial health.

Immediate Impact on the SMI

The SMI closed 1.15 % lower at 13,786.72 points on the day of the announcement, reflecting the exit of several constituents, including Swisscom and Kühne+Nagel. The index’s market capitalisation stood at approximately 1.588 trillion Euro. The departure of Swisscom contributed to the overall decline, as the company had a significant weighting within the index.

Market Reaction and Outlook

Investors noted a general retreat in Zürich, with the SMI and its components exhibiting modest declines throughout the trading day. Despite the removal, Swisscom’s core operations—local, long‑distance, and mobile telephone services, as well as integrated voice and data digital services—remain unchanged. The company continues to provide network solutions to national and international operators, maintaining its position as a leading telecom provider in Switzerland.

For further details on Swisscom’s services and corporate developments, the company’s website (www.swisscom.ch ) remains the primary source of information.