Sunrise Communications Ag Class A · SIX:SUNN
Sunrise Communications Ag Class A — Sunrise Communications A — Q2 2025 Earnings Presentation
33 slides from Sunrise Communications Ag Class A's earnings presentation, Aug 21, 2025
Slide 1: Q2 2025 Results, 21 August 2025
21 August 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 3G Switch-off completed and launch of New Product Offerings 1 • • 3G Switch-off completed: First operator in Europe with a modern 4G / 5G Standalone only network Launch of New Product Offerings, refresh of the Yallo Portfolio and completion of the UPC Customer base migration • Net Adds
Slide 4: Commercial Performance
Commercial Performance Q2 2025 Results | 21 August 2025
Slide 5: Mobile Market: Established 3-Tier market structure with different liquidity dynamics
Mobile Market | Established 3-Tier market structure with different liquidity dynamics Mobile Market Market Segment & Description Sunrise Brands Market Dynamics • Largest and most relevant market Liquidity segment (~50%)1 with fully integrated, • Attraction of price diminishing especially in the Prem
Slide 6: Commercial Developments: Insurance offers, Yallo refresh, SME Ready
Commercial Developments | Launch of Insurance offers, Yallo Portfolio Refresh and new SME Ready Portfolio B2C B2B Travel and Cyber Insurance Yallo Portfolio Refresh SME Ready Portfolio • Exclusive travel and cyber • Broader customer reach with Launch of two new “Plug & Work” insurance products avail
Slide 7: MySports: Sunrise extends hockey rights until 2035
MySports | Sunrise extends hockey rights until 2035 Pay-TV Sports rights history 2006 - 2016 – Sports rights monopoly Sunrise extends Swiss National League hockey • Live sports largely owned by Swisscom and distributed via rights for an additional 8 years until 2035 Teleclub • Sports rights market d
Slide 8: 3G Switch-off: first operator in Europe with 4G / 5G Standalone only network
3G Switch-off | Sunrise is the first operator in Europe with a modern 4G / 5G Standalone only network • Full network 5G Standalone ready since Q1 2025 • Devices certified, incl. iPhone and Samsung Galaxy • 3G Switch-off completed in August 2025 • → Impact: Temporary hardware sales increase and heigh
Slide 9: Commercial Results: ARPU stabilizing; UPC migration completed
Commercial Results | ARPU stabilizing on the back of reduced commercial activity; UPC migration completed 48 59 Net adds growth in Q2 2025 softer due to reduced commercial activity in 29 26 4 18 the beginning of the quarter and implementation of the price increases: 12 33 • Mobile Postpaid sequentia
Slide 10: Financial Results
Financial Results Q2 2025 Results | 21 August 2025
Slide 11: Financial Summary
Financial Summary | Revenue sequentially improving and cost savings leading to growing Adj. EBITDAaL in Q2 2025 in CHFm, YoY Q2 Q2 H1 H1 2024 2025 Δ 2024 2025 Δ Commentary on Q2 2025 Financials Revenue 738 732 (0.8%) 1,484 1,454 (2.1%) • Revenue trend stabilizing (0.8%) YoY as Residential Fixed and
Slide 12: Revenue: Trend improving
Revenue | Trend improving due to price increases, B2B Service Revenues and hardware sales recovery Revenue in CHFm, YoY 1 Residential: Subscription Mobile Fixed • Fixed Subscription Revenue sequentially improving as price increases take effect, however impacted by the right-pricing impact as (6) wel
Slide 13: Adj. EBITDAaL
Adj. EBITDAaL | Revenue decline only partially impacting Gross Profit, growth driven by Opex efficiencies and leases Adj. EBITDAaL in CHFm, YoY 1 Gross Profit • Residential decline driven largely by the lower fixed subscription +5 revenue due to the right-pricing impact with direct costs largely sta
Slide 14: Adj. EBITDAaL less P&E Additions & Adj. FCF
Adj. EBITDAaL less P&E Additions & Adj. FCF | Lower Capex spend in Q2 while Adj. FCF driven by seasonality Adj. EBITDAaL less P&E Additions Adj. FCF in CHFm, YoY in CHFm, YoY +15 (19) +12.0% (11.2%) 138 3 (1) (6) 173 10 (0) (1) 2 5 1 2 (36) (5) 153 2 123 5 1 Adj. EBITDAaL less o/w leases P&E Add.: 1
Slide 15: Outlook: 2025 Guidance re-confirmed
Outlook | 2025 Guidance re-confirmed 2025 Guidance (IFRS, rebased) Broadly stable Rebasing of 2024 Adj. EBITDAaL Revenue (expected at the lower end of range) • 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-singl
Slide 16: ADS: Voluntary de-listing of Class A ADS from Nasdaq
ADS | Voluntary de-listing of Class A ADS from Nasdaq and upcoming termination of sponsored ADS programs Class A ADS de-listing from Nasdaq Next steps • Share trading volumes continued to progressively • Expected termination of Class A and Class B ADS transition to SIX Swiss Exchange, with Switzerla
Slide 17: Final remarks
Final remarks Q2 2025 Results | 21 August 2025
Slide 18: Employee Share Purchase Plan
Employee Share Purchase Plan | Strong engagement and high commitment from our employees Strong Engagement ~50% participation rate Invest 5 to 20% of base salary (out of ~2’400 eligible employees) over 3 or 6 months (May to October 2025) High Commitment 33% discount to share price 2/3 of employees ch
Slide 19: Final remarks
Final remarks 3G Switch-off completed, marking the next step in our 1 5G Standalone journey Step up of our commercial activities since end of Q2, 2 however market liquidity expected to remain moderate 3 Q2 Revenue trend and Adj. EBITDAaL improving; FY 2025 Financial Guidance re-confirmed 19
Slide 20: Q&A Q2 2025 Results
Q&A Q2 2025 Results | 21 August 2025 20
Slide 21: Appendix
Appendix Q2 2025 Results | 21 August 2025 21
Slide 22: Q2 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts
Q2 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B 1 Adjustment in product Revenue split Reclassification Walkthrough Q2 20241 (in CHFm) hierarchy within Residential customers B2B & Wholesale Residential Customers Legacy and B2B & WHS reporting Q224 Product Legacy U
Slide 23: H1 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts
H1 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B 1 Adjustment in product Revenue split Reclassification Walkthrough H1 20241 (in CHFm) hierarchy within Residential customers B2B & Wholesale Residential Customers Legacy and B2B & WHS reporting H124 Product Legacy U
Slide 24: Debt Structure
Debt Structure Overview of debt structure and net debt (in CHFm) 31 Dec 20241 30 June 20252 • May 2025: Issued new 4.625% EUR 550 million Senior Secured Notes due 2032 to refinance existing EUR Term Loans Senior Credit Facilities 2’239 1’588 B due 2029 in full (incl. associated derivative terminatio
Slide 25: Quarterly P&L and Cash Flow
Quarterly P&L and Cash Flow Financials - P&L CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q125 Q225 2025 (H1) Revenue 746.8 737.5 1,484.3 722.1 731.6 1,453.7 Growth % (3.3)% (0.8)% (2.1)% CoS 201.7 195.2 396.9 184.3 191.7 376.0 Gross Profit 545.1 542.3 1,087.4 537.8 539.9 1,077.7 Growth % (1.3)% (0.4)%
Slide 26: Quarterly segment split
Quarterly segment split Financials - Revenue split CHF millions Q124RB1 Q224RB 2024RB (H1) Q324RB Q424RB 2024RB Q125 Q225 2025 RB (H1) Revenue 746.8 737.5 1,484.3 749.0 784.7 3,018.0 722.1 731.6 1,453.7 Growth % (3.3)% (0.8)% (2.1)% Residential Customers 544.3 530.2 1,074.5 535.2 551.5 2,161.2 520.3
Slide 27: Quarterly segment split (cont'd)
Quarterly segment split (cont’d) Financials - P&L CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q125 Q225 2025 (H1) Revenue 746.8 737.5 1,484.3 722.1 731.6 1,453.7 Growth % (3.3)% (0.8)% (2.1)% Residential Customers 544.3 530.2 1,074.5 520.3 521.3 1,041.6 Business Customers & Wholesale 202.1 205.6 407.7
Slide 28: 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 Q225 2025 H1 Fixed Customer Relationships represent the number of customers who receive at least one of Sunrise’s broadband internet, TV or fixed-line telephony servic
Slide 29: Operational KPIs – Base RGUs
Operational KPIs – Base RGUs Base RGUs1 Q124 RB5 Q224 RB 2024 H1 RB Q324 RB Q424 RB 2024 H2 RB 2024 RB Q125 Q225 2025 H1 Internet Subscribers are homes, residential multiple dwelling units or Broadband Internet 2 commercial units that receive fixed broadband internet services over Sunrise’s fixed or
Slide 30: Operational KPIs – ARPU Residential
Operational KPIs – ARPU Residential ARPU (Residential) Q124 RB1 Q224 RB 2024 H1 RB Q324 RB Q424 RB 2024 H2 RB 2024RB Q125 Q225 2025 H1 Subscription Revenue CHFm 459 457 915 455 445 900 1,816 441 444 885 Fixed CHFm 254 251 505 247 241 488 992 239 238 477 Mobile CHFm 205 206 411 208 204 413 824 202 20
Slide 31: 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 32: Non-IFRS Reconciliations
Non-IFRS Reconciliations Three months ended Three months ended 31-Mar-25 30-Jun-25 31-Mar-24 30-Jun-24 30-Sep-24 31-Dec-24 CHF in millions CHF in millions Adjusted EBITDA and Adjusted EBITDAaL: Net income (loss) (1.3) (53.6) (127.2) (73.7) (18.4) (142.6) Income tax expense (benefit) 3.8 (15.8) (11.8
Slide 33: Contact Information
Contact Information Sunrise Investor Relations Thurgauerstrasse 101B investor.relations@sunrise.net 8152 Glattpark (Opfikon) +41 58 777 61 00 Switzerland Q2 2025 Results | 21 August 2025
Sunrise Communications A — Q2 2025 Earnings Presentation on 6ix