SNNRFOTCCable & Other Pay Television ServicesUS GAAP · USD

Sunrise Communications AG

Sunrise Communications AG is a Swiss telecommunications company based in Glattpark (Opfikon) and listed on the SIX Swiss Exchange. It provides mobile, broadband, fixed-line and TV services to residential customers, and integrated connectivity, security and IoT solutions to business customers across Switzerland.

Liikevaihto2 983milj. USD
−1,1 %v/v
Liikevoitto (EBIT)96,2milj. USD
−8,4 %v/v
EBIT-marginaali3,2%
−0,3 %-yks.v/v
Nettotulos−109milj. USD
+70,3 %v/v
Vapaa kassavirta716milj. USD
−3,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2024–2025

01 0002 0003 0004 000milj. USD2024: 3 018 milj. USD2024: EBIT 105 milj. USD20242025: 2 983 milj. USD2025: EBIT 96 milj. USD20252 98396
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Mobile services35 %

Postpaid and other mobile connectivity services for residential and business customers.

Fixed broadband and landline30 %

Fixed-network internet access, landline voice and bundled connectivity products.

TV services15 %

Pay TV, TV bundles and related entertainment services for households.

Business solutions15 %

Connectivity, ICT, security and IoT services sold to enterprise customers.

Hardware and other services5 %

Device sales, installation and other ancillary telecommunications services.

Asiakkaat

Sunrise sells mainly to Swiss households that buy mobile, broadband, fixed-line and TV services, often in bundled converged packages. It also serves thousands of business customers that need network connectivity, managed communications, security and IoT solutions. Pricing, network quality and service breadth are important purchase drivers because customers can switch among Swiss telecom operators and bundled offerings.

Residential mobile customers

Households buying mobile subscriptions and device-linked plans for everyday connectivity.

Residential broadband and TV customers

Households buying fixed internet, landline and TV bundles for home communications and entertainment.

Business customers

Companies buying one-stop-shop telecom, ICT, security and IoT services to support operations.

Wholesale and partner channels

Operators and intermediaries using network access and related telecom services.

Strategia

Sunrise is focused on competing in Switzerland through network quality, broad fixed-mobile coverage and premium bundled offerings. It also aims to expand share in business communications by selling integrated ICT, security and IoT solutions through a single customer interface. Its strategy depends on using its network assets and service breadth to deepen customer relationships and improve cross-selling across residential and enterprise segments.

Strengthen Swiss network and coverage positionKeskipitkä aikaväli

Network quality and coverage are central to customer acquisition and retention in a crowded telecom market.

Grow converged residential offersLyhyt aikaväli

Bundling mobile, broadband, landline and TV increases customer stickiness and supports cross-selling.

Expand enterprise ICT and IoT solutionsKeskipitkä aikaväli

Business services diversify revenue beyond consumer telecom and deepen relationships with larger accounts.

Maantiede

Sunrise’s business is concentrated in Switzerland, where it operates fixed and mobile telecom networks and serves national residential and enterprise customers. The company’s revenue exposure is therefore tied to the Swiss market, while its supply chain and equipment sourcing can involve international vendors. Its Swiss footprint matters because network coverage, regulatory conditions and local competition shape customer demand and switching behavior.

Riskit

Sunrise operates in a highly competitive Swiss telecom market where customer churn, pricing pressure and service quality directly affect demand and retention. The business also depends on complex network investments, technology suppliers and execution on customer migrations and integrations, which can create operating and financial volatility. Because revenue is concentrated in Switzerland and tied to telecom usage and subscriptions, changes in market share, regulation or customer behavior can have a material impact.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Customer churn and price sensitivity1Competitive pressure in Swiss telecom2Network and capex execution3Integration and migration execution4Supplier and technology dependence5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Customer churn and price sensitivityVaikutus: KorkeaTodennäköisyys: Korkea

    Telecom customers can switch providers, and bundled offers compete mainly on price, network quality and service breadth.

    KohdistuuResidential mobileBroadbandTV subscriptions
  2. Competitive pressure in Swiss telecomVaikutus: KorkeaTodennäköisyys: Korkea

    A dominant incumbent and other operators can limit pricing power and share gains, especially in business services.

    Kohdistuu: Residential and enterprise telecom markets

  3. Network and capex executionVaikutus: KeskitasoTodennäköisyys: Korkea

    The business depends on maintaining and upgrading fixed and mobile networks to support coverage and quality commitments.

    KohdistuuInfrastructureService reliabilityCustomer experience
  4. Integration and migration executionVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Customer and platform migrations can raise churn, service disruptions and operating complexity.

    KohdistuuBillingCustomer migrationPlatform integration
  5. Supplier and technology dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company relies on third-party infrastructure and technology vendors rather than building its own core network technology.

    Kohdistuu: Network equipment and ICT procurement

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition for bundled telecom contracts

Mobile, broadband, TV and device elements may be sold together, requiring allocation across performance obligations.

Vaikutus: Affects timing and mix of recognized revenue

Technical discount allocation adjustments

Management disclosed shifts in discount allocation between product lines, which can reclassify revenue within services.

Vaikutus: Changes reported revenue by service category

Network asset depreciation and impairment

Fixed and mobile network infrastructure requires significant capitalized investment and long-lived asset judgments.

Vaikutus: Affects operating profit and asset carrying values

Leases and IFRS 16

Telecom networks, retail locations and office sites create lease liabilities and right-of-use assets.

Vaikutus: Affects leverage presentation and operating expense profile

Borrowings and fair value estimation

The company discloses borrowings and fair value estimates in its interim financial statements.

Vaikutus: Affects finance costs and balance sheet measurement

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

Sunrise Communications AG (OTC) – Cable & Other Pay Television Services | Analyysi – Clarifo