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    Max Findlay • Rothschild & Co Redburn

    Max Findlay's questions to Sunrise Communications AG (SNRE) leadership

    Max Findlay's questions to Sunrise Communications AG (SNRE) leadership • Q2 2025

    Question

    Max Findlay from Rothschild & Co Redburn asked if the EBITDA growth momentum seen in Q2 could be sustained into the second half of the year. He also questioned how much longer the headwind from reduced roaming revenues would persist following last year's tariff changes.

    Answer

    CFO Jany Fruytier cautioned that while H1 EBITDA performance was solid, the Q2 acceleration was partly due to cost phasing and should not be extrapolated for the full year. CEO André Krause addressed roaming, explaining that the headwind will likely tail off slowly over the next couple of years as customers gradually migrate to new inclusive tariffs, rather than ending abruptly.

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    Max Findlay's questions to Sunrise Communications AG (SNRE) leadership • Q2 2025

    Question

    Max Findlay of Rothschild & Co Redburn asked if the Q2 EBITDA growth momentum could be sustained in the second half and inquired about the expected duration of the headwind from reduced roaming revenues.

    Answer

    CFO Jany Fruytier indicated that while revenue is expected to improve, some Q2 OpEx benefits were due to phasing, making it difficult to guide on specific H2 EBITDA momentum beyond the full-year guidance. CEO André Krause added that the roaming revenue headwind will likely persist for several years as customers gradually migrate to new inclusive tariffs, rather than tailing off sharply in the near term.

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