32 slides from Sunrise Communications Ag Class A's earnings presentation, May 19, 2025
Slide 1: Q1 2025 Results, 19 May 2025
19 May 2025 1
Slide 2: Disclaimer
Disclaimer No Offer to Sell or Solicit This presentation is not an offer to sell or a solicitation of offers to purchase or subscribe for any securities of Sunrise Communications AG (Sunrise) in any jurisdiction. This document is not a prospectus within the meaning of the Swiss Financial Services Ac
Slide 3: Key takeaways
Key takeaways Continued Customer Growth In Q1 Alongside New Product Launches 1 • Softer trading quarter as expected due to intentionally lower trading activity as well as spill-over effect from Q4 24 • New mobile portfolio launched in April, focusing on “more for more” customer proposition and custo
Slide 4: Commercial Performance
Commercial Performance Q1 2025 Results | 19 May 2025
Slide 5: B2C | Launch of "More-for-More" Mobile Portfolio with a focus on customer loyalty
B2C | Launch of “More-for-More” Mobile Portfolio with a focus on customer loyalty Enhanced Value Proposition Expanded Roaming ROAMING NOW • Coverage Speeds increased to Swiss INCLUDED IN ALL • 2Gbit/s on several tariffs Connect PLANS Because you’re important to us. • Launch of Sunrise Perplexity, a
Slide 6: B2C | Price increases implemented across all brands, new loyalty rewards included
B2C | Price increases implemented across all brands, new loyalty rewards included Price increases implemented New Sunrise Moments loyalty rewards • Price increases implemented, effective as of March / • Loyalty Program Sunrise Moments has been rewarding April 2025 loyal customers for 3 years now • 1
Slide 7: B2B | Swiss Post Testimonial Campaign alongside strong customer wins and prolongations
B2B | Swiss Post Testimonial Campaign alongside strong customer wins and prolongations Swiss Post Testimonial Campaign Strong customer wins and prolongations New Customers Prolongations “Sunrise provides us with a state-of-the-art, reliable mobile and fibre-optic cable network” • New Swiss Post Test
Slide 8: Network | Sunrise mobile is "5G Standalone" Ready as the only network in Switzerland
Network | Sunrise mobile is “5G Standalone” Ready as the only network in Switzerland Benefits of 5G Standalone 5G Standalone (SA) The first true 5th generation mobile Improved Reduced battery network 5G coverage consumption • Full network technically SA ready Higher Security Q1 • First B2C devices c
Slide 9: Commercial Results | Solid customer growth while ARPU continues to be impacted by mix and right-pricing
Commercial Results | Solid customer growth while ARPU continues to be impacted by mix and right-pricing 59 Continued net adds growth, however YoY slowdown due to: 48 23 29 26 4 12 • Intentionally reduced commercial activity in Q1 in the context of the 33 Black Friday learnings highlighted in Q4 as w
Slide 10: Financial Results
Financial Results Q1 2025 Results | 19 May 2025
Slide 11: Financial Results | Revenue impacted by lower hardware sales and right-pricing, Adj. EBITDAaL improving
Financial Results | Revenue impacted by lower hardware sales and right-pricing, Adj. EBITDAaL improving in CHFm, YoY Q1 2024 Q1 2025 Δ • Revenue performance driven by lower non- subscription revenues both in Mobile and Fixed across Revenue 747 722 (3.3%) Residential and B2B & WHS as well as the cont
Slide 12: Revenue | Lower hardware sales and right-pricing activities driving YoY Revenue decline
Revenue | Lower hardware sales and right-pricing activities driving YoY Revenue decline Revenue 1 Other / Non-Subscription in CHFm, YoY Mobile Fixed Decline across Residential (CHF 6m) and B2B & WHS (CHF 6m) as a result of a softer take-up of new product launches, leading to (25) lower handset sales
Slide 13: Adj. EBITDAaL | Revenue decline partially impacting GP, Opex savings leading to a growing Adj. EBITDAaL
Adj. EBITDAaL | Revenue decline partially impacting GP, Opex savings leading to a growing Adj. EBITDAaL Adj. EBITDAaL in CHFm, YoY 1 Gross Profit • Residential decline driven by right-pricing impacting the Fixed +1 Gross Profit, while impact from Other / Non-Subscription largely +0.4% mitigated due
Slide 14: Adj. EBITDAaL less P&E Additions & Adj. FCF | Capex spend frontloaded while Adj. FCF driven by seasonality
Adj. EBITDAaL less P&E Additions & Adj. FCF | Capex spend frontloaded while Adj. FCF driven by seasonality Adj. EBITDAaL less P&E Additions Adj. FCF in CHFm, YoY in CHFm, YoY (12) (57) (10.7%) 109 1 Q1 2024 Adj. EBITDAaL Capex Interest Tax WC / Other Q1 2025 (3) (5) (2) 97 (2) (0) o/w leases 1 (18m)
Slide 15: Outlook | 2025 Guidance confirmed
Outlook | 2025 Guidance confirmed 2025 Guidance (IFRS, rebased) Rebasing of 2024 Adj. EBITDAaL Revenue Broadly stable • FY 2024 Adj. EBITDAaL of CHF 1’030m to be rebased by incremental recurring standalone costs in the amount of c. CHF 30m+ Stable to low-single digit for FY 2024 (of which CHF 9.8m h
Slide 16: Dividend & ADS | First dividend payment approved by AGM, Class A ADS delisting and further steps
Dividend & ADS | First dividend payment approved by AGM, Class A ADS delisting and further steps Dividend ADS / Nasdaq listing and further steps • Dividend of CHF 3.33 per Class A share and CHF 0.33 per Class B • ~82% of the Class A ADS and ~98% of the Class B ADS converted share approved at the Ann
Slide 17: Final remarks
Final remarks Q1 2025 Results | 19 May 2025 B2B Campaign featuring Swiss Post
Slide 18: Final remarks
Final remarks Continued Customer Growth In Q1 1 & Launch Of New Mobile Portfolio In April Sunrise’s Mobile Network Now “5G Standalone” 2 Ready – First In Switzerland 3 Q1 Financials On Track, FY 2025 Financial Guidance Confirmed 18
Slide 19: Q&A
Q&A Q1 2025 Results | 19 May 2025 19
Slide 20: Appendix
Appendix Q1 2025 Results | 19 May 2025 20
Slide 21: Non-Financials | Adjustments to prior disclosures
Non-Financials | Adjustments to prior disclosures Non-Financial Adjustments Changes in Customer Relationships and Base RGUs •1 Non-organic cleanup and exclusion related to UPC Impact Residential legacy products without revenue impact Net Additions 2024 •2 Reflection of the UPC Legacy Residential ARP
Slide 22: Revenue split | Changes in product hierarchy and Legacy UPC customer shifts to B2B
Revenue split | Changes in product hierarchy and Legacy UPC customer shifts to B2B 1 Adjustment in product Revenue split Reclassification Walkthrough Q1 20241 (in CHFm) hierarchy within Residential customers B2B & Wholesale Residential Customers Legacy and B2B & WHS reporting Q124 Product Legacy UPC
Slide 23: Debt Structure
Debt Structure Overview of debt structure and net debt (in CHFm) 31 Dec 20241 31 March 20252 • New USD 1,300m Term Loan B due 2032 issued in January 2025 to refinance the existing 1,045m USD Term Loan B due Senior Credit Facilities 2’239 2’266 2029 and partly refinance the existing EUR Term Loan B 2
Slide 24: Quarterly P&L and Cash Flow
Quarterly P&L and Cash Flow Financials - P&L CHF millions Q124 RB1 Q125 Revenue 746.8 722.1 Growth % (3.3%) CoS 201.7 184.3 Gross Profit 545.1 537.8 Growth % (1.3%) Margin % 73.0% 74.5% OPEX 256.1 249.5 SBC 4.8 7.3 Adjustments (4.8) (7.3) Adj. EBITDA 289.0 288.3 Leases 49.8 48.3 Adj. EBITDAaL 239.2
Slide 25: Quarterly segment split
Quarterly segment split Financials - Revenue split CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q324 RB Q424 RB 2024RB Q125 Revenue 746.8 737.5 1,484.3 749.0 784.7 3,018.0 722.1 Growth % 0.6% (1.3%) (1.3%) (0.6%) (3.3%) Residential Customers 544.3 528.1 1,072.4 533.6 550.1 2,156.1 520.3 Fixed Revenue 2
Slide 26: Quarterly segment split (cont'd)
Quarterly segment split (cont’d) Financials - P&L CHF millions Q124 RB1 Q125 Revenue 746.8 722.1 Growth % (3.3%) Residential Customers 544.3 520.3 Business Customers & Wholesale 202.1 200.8 Infrastructure & Support Functions 0.4 1.0 CoS 201.7 184.3 Gross Profit 545.1 537.8 Growth % (1.3%) Margin % 7
Slide 27: Operational KPIs – Customer relationships
Operational KPIs – Customer relationships Customer Relationships Q124 RB4 Q224 RB 2024 H1 RB Q324 RB Q424 RB 2024 H2 RB 2024 RB Q125 Fixed Customer Relationships represent the number of customers who receive at least one of Sunrise’s broadband internet, TV or fixed-line telephony services, without r
Slide 28: Operational KPIs – Base RGUs
Operational KPIs – Base RGUs Base RGUs1 Q124 RB5 Q224 RB 2024 H1 RB Q324 RB Q424RB 2024 H2 RB 2024 RB Q125 Internet Subscribers are homes, Residual multiple dwelling units or commercial units that receive fixed broadband internet services over Broadband Internet2 Sunrise’s fixed or mobile networks o
Slide 29: Operational KPIs – ARPU Residential
Operational KPIs – ARPU Residential ARPU (Residential) Q124 RB1 Q224 RB 2024 H1 RB Q324 RB Q424 RB 2024 H2 RB 2024 RB Q125 Subscription Revenue CHFm 459 455 913 453 444 897 1,811 441 Fixed CHFm 254 249 503 245 240 485 987 239 Mobile CHFm 205 206 411 208 204 413 824 202 End Base Fixed - Customer # Re
Slide 30: Rebase information
Rebase information Rebase Information Rebase results, which are non-IFRS measures, are presented as a basis for assessing growth rates on a comparable basis. Rebase information is provided to show the results of the business without the impact of certain acquisition-related, transaction-related, or
Slide 31: Non-IFRS Reconciliations
Non-IFRS Reconciliations Three months ended Three months ended 31-Mar-25 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 CHF in millions Adjusted EBITDA and Adjusted EBITDAaL: Net income (loss) (1.3) (127.2) (73.7) (18.3) (142.7) Income tax expense (benefit) 3.8 (11.8) 19.8 6.1 (30.8) Share of losses (gains
Slide 32: Contact Information
Contact Information Sunrise Investor Relations Thurgauerstrasse 101B investor.relations@sunrise.net 8152 Glattpark (Opfikon) +41 58 777 61 00 Switzerland Q1 2025 Results | 19 May 2025