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Sunrise Communications AG(SNRE) - 2025 Q2 - Earnings Call Presentation
2025-08-21 08:00
Financial Performance - Q2 2025 revenue decreased by 0.8% year-over-year to CHF 732 million, while H1 2025 revenue decreased by 2.1% year-over-year to CHF 1,454 million[40] - Q2 2025 Adjusted EBITDAaL increased by 1.9% year-over-year to CHF 254 million, representing 34.7% of revenue, while H1 2025 Adjusted EBITDAaL increased by 1.1% year-over-year to CHF 494 million, representing 34.0% of revenue[40] - Q2 2025 CAPEX decreased by 7.9% year-over-year to CHF 116 million, representing 15.9% of revenue[40] - Q2 2025 Adjusted Free Cash Flow was CHF 153 million[40] - Sunrise reconfirmed its FY 2025 guidance, expecting broadly stable revenue, stable to low-single digit growth in Adjusted EBITDAaL, CAPEX/Revenue between 15-16%, and Adjusted FCF between CHF 370-390 million[13, 61] Commercial Developments - Sunrise completed the 3G switch-off, becoming the first operator in Europe with a modern 4G/5G Standalone only network[13] - Sunrise launched new product offerings, including a refresh of the Yallo Portfolio and completion of the UPC customer base migration[13] - Fixed Mobile Convergence continued to increase, up by 1.4% year-over-year[35] - Sunrise extended Swiss National League hockey rights until 2035[25] Customer Metrics - Mobile ARPU trend is improving as subscription revenue stabilizes due to price increases[35] - Fixed ARPU is declining year-over-year but showing an upward trend due to price increases[35] - Net additions growth in Q2 2025 was softer due to reduced commercial activity and price increases[35] Debt and ADS - Sunrise priced new EUR 550 million Senior Secured Notes due 2032 to refinance existing Term Loans[13] - Sunrise Class A American Depositary Shares were delisted from Nasdaq on August 15, 2025, with termination of the sponsored ADS programs planned for around mid-November 2025[13]