Sunrise Communications (SUNN) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 1.2% YoY to CHF 732.0m and Adjusted EBITDAAL fell 2.0% to CHF 264.8m; business growth partly offset residential declines.

• Q3 subscriber trends remained robust: mobile postpaid added 19,000, while Internet customers were stable; FY 2026 guidance was reaffirmed.

• A multi-year operating-model transformation began, targeting ~CHF 70m of annualised operating and capital expenditure savings before reinvestment and social-plan costs; full Adjusted FCF benefit is expected from 2028.

• Rewards, Device-as-a-Service and new AI propositions advanced customer engagement and product innovation.

Financial highlights

• Q3 P&E Additions fell 17.0% YoY to CHF 88.1m; Adjusted EBITDAAL less P&E Additions rose 7.7% to CHF 176.7m.

• Q3 Adjusted FCF was CHF 32.5m versus CHF 36.7m; 9M Adjusted FCF rose 71.3% to CHF 125.9m.

• Q3 net profit was CHF 0.8m versus a net loss of CHF 4.4m; operating income was CHF 39.6m versus CHF 45.9m, amid volatile derivative and FX results.

• 9M revenue declined 1.2% to CHF 2,167.7m and Adjusted EBITDAAL declined 1.2% to CHF 755.1m; net loss was CHF 61.0m.

Outlook and guidance

• FY 2026 guidance was reaffirmed: revenue broadly stable, Adjusted EBITDAAL of CHF 1bn, capex/revenue below 15%, and Adjusted FCF of CHF 380m–CHF 400m.

• Q4 revenue is expected to benefit from a full-quarter price increase and subscriber momentum; external-spend phasing, commercial investment, supply constraints and phased iPhone deliveries are offsets.

• Q4 restructuring is expected to have a low-single-digit CHF million net negative impact on FY 2026 Adjusted FCF; full transformation benefits are expected from 2028.

• Expected FY 2026 dividends are CHF 3.49 per Class A share and CHF 0.35 per Class B share, representing targeted growth above 2% YoY, subject to Board proposal and AGM approval.

• A broader business, strategy and midterm outlook update is planned for the February 17, 2027 Q4 results call.