Financial Performance - Q1 2025 revenue decreased by 33% YoY to CHF 722 million, driven by lower hardware sales and right-pricing activities [45] - Q1 2025 Adjusted EBITDAaL increased by 04% YoY to CHF 240 million, with a margin of 332% [45] - Capex increased by 95% YoY, reaching 198% of revenue, totaling CHF 143 million [45] - Adjusted FCF was negative CHF 117 million, impacted by higher Capex and supplier payments [45] - FY 2025 guidance confirmed, expecting broadly stable revenue and stable to low-single digit growth in Adjusted EBITDAaL, with Capex/Revenue at 15-16% and Adjusted FCF between CHF 370-390 million [13, 61] Customer Growth and ARPU - Continued net customer additions growth, but YoY slowdown due to reduced commercial activity and UPC customer base migration [38, 41] - Mobile ARPU declined by 36% YoY due to reduced roaming usage, reaching CHF 286 [38] - Fixed ARPU declined by 53% YoY due to right-pricing efforts, reaching CHF 580, but supported by a one-off correction of ~CHF 030 [38] - FMC (Fixed-Mobile Convergence) as % of base increased to 583% [38] Strategic Initiatives - Launched a new "More-for-More" mobile portfolio focusing on customer loyalty [15, 20] - Sunrise's mobile network is now "5G Standalone" ready, the first in Switzerland [15, 32] - Shareholders approved FY 2024 dividend payment of CHF 240 million [15] - Delisting of Class A ADS from Nasdaq scheduled for August 2025, with ~82% of Class A ADS and ~98% of Class B ADS converted [15]
Sunrise Communications AG(SNRE) - 2025 Q1 - Earnings Call Presentation