Sunrise books CHF26m net profit for Q2

22 Aug 2019

Swiss full-service provider Sunrise has reported its financial results for Q2 2019, recording a 1.7% dip in turnover for the period to CHF455 million (USD464 million). Landline internet service revenue grew by 13.3% year-on-year to CHF78 million, but failed to offset contractions in service revenue from the mobile (-3.9%) and fixed telephony (-6.0%) segments. Adjusted EBITDA was CHF165 million, up 10.3% from CHF150 million in Q2 2018, though the telco notes that the growth was in part due a change in accounting standards, excluding which adjusted EBITDA for the period would have grown 3.4% to CHF155 million. Net profit for the three-month period was CHF26 million, an increase of 6.7% y-o-y.

Sunrise saw a 9.5% y-o-y increase in post-paid mobile subscriptions – counting a total of 1.812 million users at end-June 2019 – whilst pre-paid lines continued to decline, dropping by 13.9% to 592,000. Fixed broadband and TV subscriptions, meanwhile, rose by 9.4% and 14.8% respectively to 483,000 and 263,000.

Switzerland, Sunrise Communications