Sunrise Communications Ag Class A · SIX:SUNN
Sunrise Communications Ag Class A — FY2012 Earnings Presentation
16 slides from Sunrise Communications Ag Class A's earnings presentation, Mar 8, 2013
Slide 1: Financial results January – December 2012
Sunrise Communications Holdings S.A. Financial results January – December 2012
Slide 2: Financial highlights 2012
Financial highlights 2012 Continued solid financial growth despite increased competitiveness ● Revenue grew from CHF 1’983.9 to CHF 2’066.5 million or +4.2% YoY ● Excluding the acquisition of Business Sunrise Enterprise Solutions GmbH organic YoY growth of +0.9% ● Mobile post-paid subscriber base gr
Slide 3: Operational performance update
Operational performance update Changing market environment Actions taken by Sunrise • Sunrise tariffs updated to maintain “best value for • New, one-off flatrate pricing scheme with speed tiering money” proposition, continued acquisitions of high-value introduced by Swisscom in June 2012 customers •
Slide 4: Mobile subscribers and ARPU development
Mobile subscribers and ARPU development Mobile subscribers (‘000) Blended ARPU (CHF) 2,116 2,123 2,117 2,141 2,141 44.7 2,020 2,040 2,071 43.3 4.3 4.3 1,070 1,105 1,132 1,146 1,167 1,181 1,015 1,048 40.4 39.0 1,005 992 1,001 1,011 991 971 974 960 Q1’11 Q2’11 Q3’11 Q4’11 Q1’12 Q2’12 Q3’12 Q4’12 Q4’11
Slide 5: Mobile price reductions in H2'12 impacting financials
Mobile price reductions in H2’12 impacting financials Mobile revenue development Comments CHFmillion Impact of price adjustment on new and existing 5.0% 0.8% subscribers: 639 664 669 609 • New subscriber ARPU reduced by about 7% • Retention/migration reduces ARPU by about 8% to 11% with a clear soft
Slide 6: Landline internet subscribers and ARPU development
Landline internet subscribers and ARPU development xDSL subscribers (‘000)* Bundled (DSL/Voice) ARPU and AMPU (CHF) 362 366 366 368 369 369 367 358 81.2 79.5 51.1 50.4 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q4’11 Q4’12 * Includes single, double and triple-play subscribers ARPU AMPU Launch o
Slide 7: Overview of results
Overview of results Financial Results 2012 2011 Q4 YTD - 12 Q4 YTD - 11 CHF Million Mobile 1'309 1'272 333 336 Landline Services 580 535 148 149 of which hubbing 129 127 32 33 Landline Internet 178 176 45 44 Total revenues 2'066 1'984 526 529 % yoy growth 4.2% -0.6% Revenues excl. Acquisition of BSE
Slide 8: Operational capital expenditure breakdown
Operational capital expenditure breakdown Operational Capex breakdown Comments 2012: • Rollout of UMTS/HSPA and preparing sites for LTE readiness CHF million • Sunrise TV rollout and related CPE +48% 225 • Investments into fiber and site infrastructure, including mobile backhaul 152 133 • Life cycle
Slide 9: Cash and cash equivalent bridge 2012
Cash and cash equivalent bridge 2012 CHF million +585 -289 -202 +171 +163 -87 Cash balance Mobile license Deleveraging PIK repayment Operational Cash balance 2011 cash flow 2012 Continued strong operational cash flow: • Sunrise generated an adjusted operational cash flow of CHF 163 million in 2012 •
Slide 10: Net debt and leverage ratio
Net debt and leverage ratio Net Debt Dec 31, 2011 Dec 31, 2012 CHF million Term Loan A 463 0 Term Loan B 635 0 Senior Secured Notes 753 748 Senior Secured Notes issued July 2012 0 521 Floating Rate Notes issued July 2012 0 377 Senior Unsecured Notes 685 677 Total cash-pay borrowings 2'536 2'322 Fair
Slide 11: Outlook for 2013
Outlook for 2013 © Sunrise 08. 03. 2013 11
Slide 12: Sunrise: Well positioned for 2013
Sunrise: Well positioned for 2013 • Leverage Sunrise’s position as the quadruple-play challenger in the Swiss market, and continue to provide best-value to customers across all products and services • 2013 will be a year of investment to lay the fundamentals for continued subscriber base growth • Pl
Slide 13: Outlook 2013
Outlook 2013 • Flat to slightly increasing EBITDA on the back of top-line pressure, compensated by cost measures • Capex spending will peak in 2013 with CHF 270-280 million. Thereafter, stabilizing at around 11% of revenue • Continued strong cash flow generation, with cash flow from operating activi
Slide 14: Questions & answers
Questions & answers © Sunrise 08. 03. 2013 14
Slide 15: Thank you
Thank you © Sunrise 08. 03. 2013 15
Slide 16: Disclaimer
Disclaimer This presentation and any materials distributed in connection herewith (together, the “Presentation”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and nei
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