The company reported Q2 15 results. Revenues declined 5.6% to CHF4.37bn (estimate: CHF4.44bn). EBITDA however increased 4.8% to CHF264m (estimate: CHF233m). The EBITDA margin improved from 5.8% to 6.4%. EBIT grew 6.8% to CHF220m (estimate: CHF187m). The EBIT margin increased from 4.7% to 5.3%. The solid operating performance was mainly driven by lower costs, in particular selling & marketing expenses declined by 8.4% to CHF351m.