Swiss telecom operator Sunrise reported a slight decline in revenue in the third quarter of 2025, reflecting evolving market dynamics and strategic investments in 5G and fiber infrastructure.
Revenue Performance
Sunrise’s Q3 2025 revenue fell by 1.1 percent year-on-year to CHF 740.9 million. The decline was primarily driven by softer fixed subscription trends and post-promotional repricing. Mobile subscription revenue remained stable, supported by both volume growth and price adjustments. CEO Andre Krause emphasized the company’s confidence in its trajectory, stating, “Thanks to our product innovations, we’re well prepared for the important fourth quarter, and confirm our 2025 guidance, including the targeted dividend growth of 2.7 percent.”
Subscribers and Connections
Sunrise continues to expand its mobile base while maintaining strong fixed-mobile convergence:
Mobile postpaid subscriptions increased by 20,000 RGUs in Q3 2025 despite low market liquidity.
Broadband internet subscriptions declined by 7,000 RGUs, influenced by lower market activity and the completion of customer migration from UPC.
As of September 2025, Sunrise serves approximately 3.15 million mobile, 1.29 million broadband, and 0.97 million enhanced TV RGUs.
Fixed-mobile convergence — customers using both fixed broadband and mobile postpaid — rose to 59.0 percent, up 1.4 percentage points year-on-year, highlighting the success of bundled offerings.
Capital Expenditure and Network Investment
Sunrise reduced capital expenditures by 4.7 percent year-on-year to CHF 106.1 million in Q3 2025, representing 14.3 percent of revenue. This was due to lower spending following the completion of the 5G standalone (SA) network and the onboarding of a major customer. For the first nine months of 2025, total CAPEX remained stable at CHF 365.6 million.
5G and Fiber Infrastructure
The completion of Sunrise’s 5G standalone network marked a major milestone, enabling advanced mobile connectivity while reducing ongoing network CAPEX. The company also maintains Switzerland’s highest gigabit coverage through its extensive landline network, underscoring its leadership in fiber deployment.
Strategic Initiatives and Product Innovation
Sunrise continues to prioritize product innovation and service expansion:
Launched premium offerings including a home security system and the Iconic Bundle, enabling seamless global connectivity across multiple devices.
Targeted business segment growth, particularly SMEs, with solutions like SME Ready Connect Pay.
Introduced CHmobile, a flanker brand offering online-only, price-sensitive plans to attract cost-conscious consumers.
Continued focus on operating cost efficiency, leveraging synergies from the UPC mobile core network shutdown.
Strengthened fixed-mobile convergence and innovative product bundles to drive customer loyalty and recurring revenue.
Outlook
Sunrise demonstrates stable revenue, mobile subscription growth, and disciplined capital investment following the 5G rollout. Its strategy emphasizes innovation, B2B/SME expansion, multi-brand positioning, and fiber leadership, positioning the company for sustainable growth in Switzerland’s competitive telecom market.
Baburajan Kizhakedath
