Salt generates more sales and operating profit in the first half of the year
Published: Thursday, Aug 29th 2024, 07:50
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Salt continued to grow in the first half of 2024. The third-largest mobile provider in Switzerland also saw a clear increase in customers.
Specifically, Salt's revenue rose by 2.4% to CHF 551.3 million in the first half of 2024, as the company announced on Thursday. While revenue from the telecoms business rose by 5.8%, sales in the much smaller equipment segment, such as cell phones and tablets, fell by almost 15%.
The increase in sales in the telecoms business was driven primarily by customer growth as well as moderate price increases in mobile telephony to compensate for cost inflation, Salt continues. In the second quarter alone, the company gained 41,800 net new customers. Customer growth totaled 72,000 in the first half of the year, with the new mobile offer with Swiss Post, which was launched in February and gained momentum in the second quarter, making a significant contribution to growth.
The number of mobile subscription customers rose by around 2.5 percent to 1.67 million. Salt's broadband and TV customer base approached the 250,000 mark. Salt also reported good demand from business customers in the SME and microenterprise segment.
Operating profit before depreciation and amortization (EBITDA) rose by 2.5% to CHF 284.6 million in the first six months. In the second quarter, however, the pace of growth slowed somewhat to 0.7 percent. According to Salt, this was mainly due to higher expenditure as a result of cost inflation and advertising to support growth. The net profit of Salt's parent company rose by 3.6 percent to CHF 74.3 million.
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