Sunrise Communications AG American Depositary Shares representing Class A shares

SNRE

Market cap $4B

Sunrise Communications AG (OTC:SNREY) Q2 2025 Earnings Conference Call August 21, 2025 4:00 AM ET Company Participants Alex Herrmann - VP of Investor Relations, Corporate Finance & Treasury André Reinhard Krause - Chief Executive Officer Jany Fruytier - Chief Financial Officer Conference Call Participants Polo Tang - UBS Investment Bank, Research Division Robert James Grindle - Deutsche Bank AG, Research Division Operator Ladies and gentlemen, welcome to the Sunrise Second Quarter 2025 Financial Results Conference Call and Live Webcast. I am Matilda, the Chorus Call operator.

Sunrise offers a stable telecom business in Switzerland with an attractive 8% tax-free dividend yield. Revenue growth is limited, but strong margins and cash flow support ongoing dividend increases. Risks include a mature Swiss telecom market and high leverage, but stable cash flows and cost controls mitigate these concerns.

Sunrise Communications is basically a telecom services company that's integrating Device-as-a-Service and third-party streaming platforms to increase its customer retention. SNRE recently proposed a dividend of 3.33 CHF per Class A share, which, I believe, is an attractive yield without Swiss withholding taxes for five years. Additionally, recent B2B client expansions like Migros, Ringie, and Formula 1's Sauber are helping SNRE offset its declining residential ARPU.

Sunrise Communications is the second-largest telecommunications provider in Switzerland, offering mobile, fixed-line, TV, and broadband services. The company is operating in a highly competitive and saturated market.