New Street Research - Sunrise (Neutral, TP: CHF38, -8%) Q1 25: Good EBITDAaL beat, but revenue trends remain a concern

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New Street Research

Russell Waller

EUR 8943.00 For Business Accounts Only

Sunrise (Neutral, TP: CHF38, -8%) Q1 25: Good EBITDAaL beat, but revenue trends remain a concern

Sunrise has reported a weak set of numbers at the revenue level, but ahead at EBITDAaL. Volumes are lower as Sunrise learnt lessons from the irrational Black Friday deals in Q4 and reshaped its commercial activity ahead of price increases in March/April.

19/05/2025 1 EN

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Analysts

Russell Waller

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Sunrise (Neutral, TP: CHF38, -8%) Q1 25: Good EBITDAaL beat, but revenue trends remain a concern

NVLink Fusion - Some early thoughts.

SATS and Carr’s Endgame

Vodacom (Buy, TP: ZAR180, +38%) Q4 25 – Decent Q4, MT guidance upgraded

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