Sunrise UPC GmbH Reports Continued Customer Growth and Solid Q2 Financial Results

In Q2 2024, Sunrise UPC GmbH reported strong customer growth and solid financial performance. The company saw a net increase of 31,000 mobile postpaid subscriptions and 5,000 Internet subscriptions, marking consecutive quarters of broadband growth. This growth was attributed to sustained commercial momentum and a reduced churn rate.

Revenue for Q2 2024 rose slightly by 0.5% year-over-year to CHF 737.5 million. Segment Adjusted EBITDA grew by 0.9% YoY to CHF 260.3 million. However, Adjusted EBITDA less P&E additions fell by 9.5% YoY to CHF 133.9 million due to phased investments in network expansion and other programmes.

Sunrise confirmed its financial guidance for 2024, including an expected FCF growth of CHF 60 million (+17% YoY). Preparations for the spin-off in Q4 2024 on the SIX Swiss Exchange are on track. Additional details will be revealed at the Capital Markets Day on 9 September 2024 in Zurich.

In August 2024, Sunrise plans to more than double the Internet speed on its hybrid fibre-optic cable network from 1 Gbit/s to 2.5 Gbit/s. This upgrade will benefit both existing and new customers, further solidifying Sunrise's position as Switzerland's leading broadband provider.

Sunrise Business secured new contracts with high-profile clients, including Swiss Post and SBB. Key performance indicators for customer experience improved significantly, with customer complaints down by 30% and a notable increase in overall satisfaction.