Sunrise Q2 Revenue Dips 2.6% but FCF Jumps 33%; 2026 Guidance Reconfirmed
SNNRF sits 18% above its 52-week low of $43.5.
Summary
Sunrise reported Q2 2026 revenue of CHF 712.9 million (down 2.6% YoY) and Adjusted EBITDAaL of CHF 244.4 million (down 3.8%), but Adjusted Free Cash Flow rose 33.3% to CHF 204.4 million. Full-year 2026 guidance was reconfirmed, including a CHF 3.49 per Class A share dividend.
Key Events · Earnings and Guidance · SNNRF
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Q2 Revenue and EBITDAaL Decline
Revenue fell 2.6% YoY to CHF 712.9 million and Adjusted EBITDAaL fell 3.8% to CHF 244.4 million, driven by phased price increases and weaker prior-quarter subscriber growth.
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Adjusted Free Cash Flow Surges
Adjusted Free Cash Flow rose 33.3% YoY to CHF 204.4 million, supported by lower capital expenditures (down 12.7% to CHF 101.6 million) and operating cost discipline.
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Net Loss Narrows 58.2%
Net loss improved to CHF 22.4 million from CHF 53.6 million a year earlier, primarily due to favorable foreign-currency gains and lower financial expenses.
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2026 Guidance Reconfirmed
Management reaffirmed full-year guidance: revenue broadly stable, Adjusted EBITDAaL around CHF 1 billion, capex/revenue below 15%, Adjusted FCF of CHF 380-400 million, and a dividend of CHF 3.49 per Class A share.
Analysis · SNNRF · Technology
A mixed quarter for Sunrise: revenue and Adjusted EBITDAaL declined as expected due to price-increase timing, but Adjusted Free Cash Flow surged 33.3% to CHF 204.4 million on lower capex and cost discipline. Management reconfirmed full-year 2026 guidance, including a dividend of CHF 3.49 per Class A share, signaling confidence in the second half. The net loss narrowed 58.2% to CHF 22.4 million, driven by favorable foreign-currency movements. Commercial momentum strengthened with +21,000 mobile postpaid net adds, the best Internet net adds in five quarters, and a 2.6 percentage point rise in fixed-mobile convergence to 61.1%.
At the time of this filing, SNNRF was trading at $51.42 on OTC in the Technology sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $43.50 to $62.83. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.