Vie, May 24th 2024
Salt’s Q1 sales grew 1.7% to CHF 275.4 million, fueled by price increases and new customer acquisitions..
Salt, Switzerland’s third-largest mobile provider, reported a 1.7% sales increase to CHF 275.4 million in the first quarter. This growth was attributed to last fall’s price hikes and an expanding customer base.
Revenue from the telecoms business surged 6.4% to CHF 235.8 million. However, device sales, including cell phones and tablets, declined by nearly 20%, totaling CHF 39.6 million.
The company gained 30,200 net additional mobile subscribers in the first quarter, bringing the total to 1.633 million. Conversely, prepaid customers decreased by 16,000, now standing at 370,000.
Salt’s collaboration with Swiss Post significantly boosted its private customer segment. Since mid-February, the “Post Mobile” offer has been available in Swiss Post branches and online, yielding promising results. Additionally, the acquisition of the Lycamobile brand from Swisscom in May 2023 contributed to the revenue increase.
The fixed-network business, including Internet, TV, and telephony services, also experienced strong growth. Salt’s success extended to the corporate customer segment, attracting larger companies. In May, the company launched its first flagship store, “Home of Salt,” on Zurich’s Bahnhofstrasse.
Operating profit before depreciation and amortization (EBITDA) rose 4.3% to CHF 140.8 million due to increased revenues. However, higher personnel costs, resulting from the creation of over 100 new jobs, mitigated some of these gains. Salt now employs more than 1,133 people.
Despite these positive results, Salt’s parent company’s net profit fell by 5.6% to CHF 33.4 million, primarily due to higher financing costs.
© Keystone/SDA
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