Sunrise books CHF100m net profit for FY18

28 Feb 2019

Swiss full-service provider Sunrise has published its financial results for Q4 and FY 2018, reporting total revenue of CHF486 million (USD486.2 million) for the fourth quarter – down 4.7% year-on-year – and CHF1.88 billion for the twelve-month period (up 1.2% y-o-y). EBITDA grew by 9.6% to CHF162 million for the quarter, but edged up by just 0.6% for the full year, to CHF596 million. Quarterly net income grew by 47.5% y-o-y to CHF35 million. For the full year, however, net income was CHF107 million, down from CHF505 million in 2017, but representing an increase of 25.5% if the gains from the disposal of Sunrise’s towers in 2017 are excluded. Sunrise attributed its overall revenue growth to take-up of post-paid mobile services as well as broadband, TV and B2B expansion, noting that the dip in turnover for Q4 2018 was due to lower hardware and hubbing sales – both of which it described as carrying low profitability.

Sunrise counted a total of 1.73 million post-paid wireless subscribers as at 31 December 2018 – up 8.5% y-o-y from 1.59 million – whilst pre-paid subscriptions continued to fall, dipping by 17.0% annually to 628,000. The operator reported subscriber growth for fixed telephony, broadband and TV services, citing its converged ‘Sunrise ONE’ tariff and improved TV content as contributing to the expansion. At the end of December 2018 Sunrise claimed a broadband subscriber base of 457,000 (up 8.3%), along with 468,000 fixed voice lines (up 6.2%) and 244,000 TV users (an increase of 14.1%).

Switzerland, Sunrise Communications