Salt increases revenues and operating profit in first nine months
Published: Tuesday, Nov 26th 2024, 08:40
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Salt continued to grow in the first nine months of the year. The third-largest mobile provider in Switzerland attracted more new customers for cell phone subscriptions than ever before.
Overall, Salt increased sales by 2.4 percent to CHF 838.3 million from January to September, as the company announced on Tuesday. While sales from the telecoms business rose by 5.2 percent, sales of devices such as cell phones and tablets fell by 13.1 percent.
The increase in sales in the telecoms business was driven primarily by strong growth in customer numbers: Salt gained 40,000 new cell phone subscribers among private and corporate customers in the summer quarter. Over the nine-month period as a whole, new customer growth totaled 112,000, an increase of more than 20 percent compared with the same period last year and a new record. Price increases also had a positive effect.
Salt also made gains in the fixed network. The number of TV, Internet and landline telephony customers exceeded the 250,000 mark. The fixed network offering is now available in seven additional municipalities.
Meanwhile, operating profit before depreciation and amortization (EBITDA) increased only moderately by 0.7 percent to CHF 430.0 million. It was reported that costs had risen due to inflation. In addition, more money was invested in advertising and marketing.
A one-off payment of CHF 4.2 million for bonuses for exceeding targets also depressed the result. The EBITDA margin fell slightly to 51.3% from 52.1% in the previous year.
By contrast, the net profit of Salt parent company Matterhorn Telecom Holding rose by 9.9 percent to CHF 125.2 million.
©Keystone/SDA
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