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Sunrise Communications AG Class A
(SUNN)
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Rating:60Neutral
Price Target:
CHF44.00
▲(1.85% Upside)
Action:Reiterated
Date:08/21/26
Overall score reflects strong cash generation and a supportive earnings outlook (guidance reaffirmed with solid free-cash-flow delivery and dividend support), partially offset by weak reported earnings and revenue pressure. Technical signals are broadly neutral, and valuation is helped by the high yield but constrained by the negative P/E.
Positive Factors
Strong free cash flow generation
Sustained cash generation provides internally funded capacity for debt service, network investment and shareholder distributions, helping offset accounting losses and strengthening operational resilience over the next several quarters.
Negative Factors
Persistent revenue pressure
Ongoing declines in core subscription revenue constrain the company’s ability to grow EBITDAaL and absorb fixed network costs. Continued fixed ARPU pressure makes a durable top-line recovery dependent on successful pricing and retention.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Sustained cash generation provides internally funded capacity for debt service, network investment and shareholder distributions, helping offset accounting losses and strengthening operational resilience over the next several quarters.
Read all positive factors
Sunrise Communications AG Class A (SUNN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF3.09B
Dividend Yield8.02%
Average Volume (3M)210.56K
Price to Earnings (P/E)―
Beta (1Y)0.45
Revenue GrowthN/A
EPS GrowthN/A
CountryCH
Employees2,897
SectorGeneral
Sector StrengthN/A
IndustryTelecommunications Services
Share Statistics
EPS (TTM)-1.63
Shares Outstanding71,259,705
10 Day Avg. Volume168,628
30 Day Avg. Volume210,560
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)0.75
Price to Sales (P/S)1.02
P/FCF Ratio5.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF36.50Price Target Upside-15.51% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)CHF2.96B
Sunrise Communications AG Class A Business Overview & Revenue Model
Company Description
Sunrise Communications AG is a telecommunications provider delivering a comprehensive suite of services. For individual consumers, it supplies mobile, high-speed internet, television, and traditional landline telephone solutions. Corporate clients...
How the Company Makes Money
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Sunrise Communications AG Class A Earnings Call Summary
Earnings Call Date:Aug 19, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: clear commercial momentum with materially improved net additions, strong free cash flow and disciplined cost and capital management, plus early success with the Sunrise Rewards programme and strategic B2B initiatives. These positives were offset by continued top-line pressure (revenue down 2.6%) driven mainly by fixed ARPU weakness, mobile usage softness and a Q2 EBITDAaL decline of 3.8%. Management reiterated full-year guidance and highlighted encouraging early signs from the August price rise, but acknowledged remaining uncertainty (timing of price effects, summer seasonality and spectrum auction rules). Overall the company appears operationally resilient and cash-generative, while still working through near-term revenue headwinds.Positive Updates
Improved Commercial Momentum and Net Add Performance
Postpaid net additions accelerated to 21,000 and Internet net additions were +3,000 in Q2, driven by stepped-up commercial execution, lower churn and initial traction from campaigns.
Negative Updates
Revenue Decline
Revenue declined by 2.6% in Q2 2026, driven primarily by continued pressure in residential fixed and some mobile subscription weakness, compounded by lapping of prior year price increases and tougher hardware comparisons.
Read all updates
Q2-2026 Updates
Positive
Negative
Improved Commercial Momentum and Net Add Performance
Postpaid net additions accelerated to 21,000 and Internet net additions were +3,000 in Q2, driven by stepped-up commercial execution, lower churn and initial traction from campaigns.
Read all positive updates
Company Guidance
Sunrise fully reconfirmed its 2026 guidance: broadly stable revenue, about CHF 1.0bn of EBITDAaL, CapEx below 15% of revenue and adjusted free cash flow of CHF 380–400m, supporting a dividend of CHF 3.49 per Class A share (CHF 0.35 per Class B), a 2% DPS increase. Management noted Q2 headwinds (revenue down 2.6%, EBITDAaL down 3.8%) but strong cash generation (CHF 204m of the CHF 380–400m FCF target in Q2) and lower Q2 CapEx of CHF 102m (14.3% of revenue). The outlook is underpinned by the 1 Aug price rise, improving commercial momentum (21,000 postpaid and 3,000 Internet net adds, FMC 61.1%), continued OpEx/CapEx discipline and a back‑end weighted recovery in H2 (Q4 expected stronger than Q3). Capital structure actions include a CHF 500m 2033 euro note, a 2.8% weighted cost of debt, no maturities before 2031 and a target leverage range of 3.5–4.5x.Sunrise Communications AG Class A Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
52
Neutral
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.97B | 2.98B | 3.02B | 3.04B | 3.04B | 3.04B |
| Gross Profit | 1.02B | 656.00M | 2.19B | 2.20B | 2.22B | 2.21B |
| EBITDA | 1.15B | 1.10B | 1.10B | 1.18B | 1.55B | 1.33B |
| Net Income | -119.10M | -112.20M | -365.80M | -316.10M | 80.50M | -71.80M |
Balance Sheet | ||||||
| Total Assets | 11.33B | 11.72B | 12.06B | 12.61B | 13.21B | 12.86B |
| Cash, Cash Equivalents and Short-Term Investments | 99.80M | 273.20M | 351.80M | 4.80M | 2.30M | 5.50M |
| Total Debt | 5.71B | 5.61B | 5.90B | 6.68B | 7.16B | 7.93B |
| Total Liabilities | 7.56B | 7.65B | 7.68B | 9.03B | 9.16B | 9.80B |
| Stockholders Equity | 3.75B | 4.05B | 4.36B | 3.55B | 4.03B | 3.04B |
Cash Flow | ||||||
| Free Cash Flow | 920.50M | 600.20M | 738.00M | 733.50M | 835.30M | 911.30M |
| Operating Cash Flow | 1.07B | 995.80M | 1.28B | 1.20B | 1.25B | 1.27B |
| Investing Cash Flow | -355.20M | -503.80M | -478.70M | -760.60M | -543.00M | -333.20M |
| Financing Cash Flow | -744.20M | -566.60M | -454.40M | -440.10M | -714.00M | -945.40M |
Sunrise Communications AG Class A Technical Analysis
Positive
43.20
Price Trends
41.63
Positive
42.08
Positive
41.37
Positive
Market Momentum
0.23
Negative
52.60
Neutral
64.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:SUNN, the sentiment is Positive. The current price of 43.2 is above the 20-day moving average (MA) of 42.19, above the 50-day MA of 41.63, and above the 200-day MA of 41.37, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 52.60 is Neutral, neither overbought nor oversold. The STOCH value of 64.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:SUNN.
Sunrise Communications AG Class A Peers Comparison
UnderperformOutperform
Sector (55)
CH:SUNN
Sunrise Communications AG Class A
42.62
-2.86
-6.30%
CH:SCMN
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626.50
67.24
12.02%
CH:AEVS
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12.85
-0.55
-4.10%
Sunrise Communications AG Class A Corporate Events
Sunrise Communications Boosts Cash Flow and Customer Growth as It Confirms 2026 Outlook
Aug 19, 2026
Sunrise Communications posted softer second-quarter revenue, down 2.6% year-on-year, as prior price-hike effects faded and earlier weaker subscriber growth weighed on results, but it recorded strong commercial momentum with net gains of 21,000 mob...
Sunrise Extends Debt Maturities With €500 Million Senior Secured Bond
Jul 22, 2026
Sunrise Communications has priced a new €500 million issuance of senior secured notes due 2033 at a 5% coupon, with settlement expected in early August 2026. The Swiss telecom operator will use the proceeds to fully refinance its existing 3....
Sunrise Names Andreas Tolpeit as New CFO to Drive Profitability and Strategy
Jul 20, 2026
Sunrise has appointed Andreas Tolpeit as its new Chief Financial Officer and member of the Executive Committee, effective 1 September 2026, following an orderly transition from outgoing CFO Jany Fruytier at the end of August. Tolpeit’s exten...
Sunrise Business launches bundled cyber insurance and connectivity for Swiss SMEs
Jun 25, 2026
Sunrise Business has launched “KMU Ready Insurance,” a bundled offering that combines high-speed internet, Cisco Umbrella cloud-based cybersecurity and new insurance products for Swiss SMEs. The package uniquely integrates connectivity...
Sunrise Becomes Key Corporate Backer of Switzerland’s 2038 Winter Games Bid
Jun 24, 2026
Sunrise has committed to become a “flag bearer” of the Switzerland 2038 bid to host the Olympic and Paralympic Winter Games, aligning the move with its “Dream Big. Do Big.” brand positioning. The company will contribute 10 ...
Lebara Unveils Flexible Annual Roaming ‘Relax’ Mobile Plans in Switzerland
Jun 22, 2026
Lebara is reshaping its Swiss mobile offer with the launch of “Relax” subscriptions that bundle unlimited data and calls in Switzerland with flexible annual roaming allowances across up to 110 destinations. Targeting customers who trav...
Sunrise Integrates YouTube Premium and HBO Max to Bolster Swiss Entertainment Platform
Jun 16, 2026
Sunrise Communications has expanded its Sunrise Entertainment portfolio by integrating YouTube Premium across its digital channels, shops and TV box, allowing customers to subscribe, manage and pay for the ad-free video, music and podcast service ...
Sunrise Becomes Main Partner of Zurich Film Festival in Three-Year Deal
Jun 9, 2026
Sunrise Communications AG has signed a three-year agreement to become a Main Partner of the Zurich Film Festival, one of Europe’s prominent film events and the second-largest in the German-speaking world. The partnership extends Sunrise̵...
Sunrise CFO Jany Fruytier to Depart After Steering Merger and IPO
Jun 1, 2026
Sunrise Communications AG announced that Chief Financial Officer Jany Fruytier will step down at the end of August 2026 to take a new CFO role at Ziggo Group, which Liberty Global plans to spin off. Sunrise has launched an internal and external se...
Sunrise names Wolfgang Elsässer to lead core consumer business
May 28, 2026
Sunrise Communications AG has appointed industry veteran Wolfgang Elsässer as Chief Consumer Officer Main Brand and member of its Executive Committee, effective 1 July 2026, placing him in charge of the company’s largest unit, the Consu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.