Salt Q2 revenue drops 15%

30 Aug 2016

Swiss mobile provider Salt booked total revenue of CHF272.3 million (USD278.4 million) in Q2 2016, representing a 15.0% decline compared to the same period of 2015. The slump was attributed in part to a 33.7% fall in turnover from handsets to CHF33.8 million and an 11.3% drop in mobile subscriptions. Adjusted EBITDA for the three-month period grew by 8.3% year-on-year to CHF107.3 million as the result of cost-cutting measures, which saw labour expenses fall by 30.2%, interconnection, content costs and commercial expenses by 19.9% and other external expenses by 24.2%. EBIT, meanwhile, was CHF65.6 million, up 142.0% compared to Q2 2015. Salt counted a total of 1.906 million mobile subscribers at end-June 2016, a 11.3% decrease from 2.148 million in June 2015. Of the total, 1.169 million were contract customers (up 2.4% y-o-y) whilst 736,000 were pre-paid users (down 26.8%).

Switzerland, Salt (Switzerland)