SNNRF on OTC

Sunrise Communications AG

Sunrise Communications AG is a cable and pay television services company, listed on OTC (SNNRF).¹

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Last updated Oct 21, 2026.

Overview

-108.5MNet income, fiscal 2025²

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TickerSNNRF on OTC¹
IndustryCable & Other Pay Television Services¹
HeadquartersV8¹
Incorporated inSwitzerland³
Business addressThurgauerstrasse 101B, Glattpark, Opfikon, Zurich, V8 8152³
Filer categoryLarge accelerated filer³

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The infor mation on page 14 in our Annual Report 2025 under the heading “Operational & Financial Review—Introduction—History” is incorporated herein by reference.⁴ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-2.7%Return on equity²

0.97×Debt to equity²

$715.7MFree cash flow²

Financial statements

Operating income⁵²$96.2M in 2025

Net income⁵²-$108.5M in 2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.²

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue	3.0B CHF	3.0B CHF	3.0B CHF
Direct costs	-831.2M CHF	-830.1M CHF	-834.6M CHF
Personnel expenses	-429.9M CHF	-407.0M CHF	-416.7M CHF
Other operating income and capitalised labour	63.3M CHF	68.1M CHF	105.7M CHF
Other operating expenses	-623.1M CHF	-696.4M CHF	-758.8M CHF
Depreciation of right-of-use assets	-129.9M CHF	-129.7M CHF	-128.0M CHF
Depreciation and amortisation	-936.4M CHF	-917.9M CHF	-992.1M CHF
Operating income	96.2M CHF	105.0M CHF	10.7M CHF
Financial income	425.8M CHF	257.7M CHF	574.7M CHF
Financial expenses	-656.3M CHF	-742.6M CHF	-957.2M CHF
Share of gains (losses) of equity method investments	5.9M CHF	1.3M CHF	-300.0K CHF
(Loss) before taxes	-128.4M CHF	-378.6M CHF	-372.1M CHF
Income tax benefit	19.9M CHF	16.7M CHF	59.9M CHF
Net (loss)	-108.5M CHF	-361.9M CHF	-312.2M CHF
Sunrise Communications AG shareholders	-112.2M CHF	-365.8M CHF	-316.1M CHF
Non-controlling interest	3.7M CHF	3.9M CHF	3.9M CHF

Total assets⁵²$11.7B in 2025−7% since 2023

Total liabilities⁵²$7.6B in 2025−15% since 2023

Shareholders’ equity⁵²$4.1B in 2025+33% since 2021

Cash⁵²$273.2M in 2025+4867% since 2021

Long-term debt⁵²$4.0B in 2025−24% since 2023

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.²

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	273.2M CHF	351.8M CHF	4.8M CHF	2.3M CHF
Trade receivables	330.7M CHF	353.0M CHF
Financial assets	140.9M CHF	162.5M CHF
Tax receivables	5.5M CHF	0 CHF
Other current assets	270.6M CHF	259.9M CHF
Total current assets	1.0B CHF	1.1B CHF
Property, plant and equipment	2.2B CHF	2.3B CHF
Goodwill	6.0B CHF	6.0B CHF	6.0B CHF
Intangible assets	934.5M CHF	1.1B CHF
Right-of-use assets	1.4B CHF	1.3B CHF
Financial assets	9.6M CHF	5.1M CHF
Investments	30.0M CHF	48.4M CHF
Deferred tax assets	15.3M CHF	23.6M CHF
Other non-current assets	102.2M CHF	160.4M CHF
Total non-current assets	10.7B CHF	10.9B CHF
Total assets	11.7B CHF	12.1B CHF
Accounts payable	328.7M CHF	316.0M CHF
Lease liabilities	181.4M CHF	164.1M CHF
Financial liabilities	558.8M CHF	586.7M CHF
Provisions	2.9M CHF	4.7M CHF
Tax liabilities	11.4M CHF	17.9M CHF
Other current liabilities	456.9M CHF	497.0M CHF
Total current liabilities	1.5B CHF	1.6B CHF
Lease liabilities	1.1B CHF	1.1B CHF
Financial liabilities	4.6B CHF	4.7B CHF
Provisions	67.3M CHF	64.0M CHF
Defined benefit obligations	1.8M CHF	8.4M CHF
Deferred tax liabilities	115.4M CHF	165.8M CHF
Other non-current liabilities	230.6M CHF	48.2M CHF
Total non-current liabilities	6.1B CHF	6.1B CHF
Total liabilities	7.6B CHF	7.7B CHF
Ordinary share capital	7.4M CHF	7.2M CHF
Treasury shares	-100.0K CHF	-100.0K CHF
Reserves	4.0B CHF	4.4B CHF
Equity attributable to the shareholders	4.0B CHF	4.4B CHF
Non-controlling interest	26.2M CHF	26.1M CHF
Total equity	4.1B CHF	4.4B CHF	3.6B CHF	4.0B CHF
Total liabilities and equity	11.7B CHF	12.1B CHF

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Cash and cash equivalents	273.2M CHF	351.8M CHF	4.8M CHF	2.3M CHF
Trade receivables	330.7M CHF	353.0M CHF
Financial assets	140.9M CHF	162.5M CHF
Tax receivables	5.5M CHF	0 CHF
Other current assets	270.6M CHF	259.9M CHF
Total current assets	1.0B CHF	1.1B CHF
Property, plant and equipment	2.2B CHF	2.3B CHF
Goodwill	6.0B CHF	6.0B CHF	6.0B CHF
Intangible assets	934.5M CHF	1.1B CHF
Right-of-use assets	1.4B CHF	1.3B CHF
Financial assets	9.6M CHF	5.1M CHF
Investments	30.0M CHF	48.4M CHF
Deferred tax assets	15.3M CHF	23.6M CHF
Other non-current assets	102.2M CHF	160.4M CHF
Total non-current assets	10.7B CHF	10.9B CHF
Total assets	11.7B CHF	12.1B CHF
Accounts payable	328.7M CHF	316.0M CHF
Lease liabilities	181.4M CHF	164.1M CHF
Financial liabilities	558.8M CHF	586.7M CHF
Provisions	2.9M CHF	4.7M CHF
Tax liabilities	11.4M CHF	17.9M CHF
Other current liabilities	456.9M CHF	497.0M CHF
Total current liabilities	1.5B CHF	1.6B CHF
Lease liabilities	1.1B CHF	1.1B CHF
Financial liabilities	4.6B CHF	4.7B CHF
Provisions	67.3M CHF	64.0M CHF
Defined benefit obligations	1.8M CHF	8.4M CHF
Deferred tax liabilities	115.4M CHF	165.8M CHF
Other non-current liabilities	230.6M CHF	48.2M CHF
Total non-current liabilities	6.1B CHF	6.1B CHF
Total liabilities	7.6B CHF	7.7B CHF
Ordinary share capital	7.4M CHF	7.2M CHF
Treasury shares	-100.0K CHF	-100.0K CHF
Reserves	4.0B CHF	4.4B CHF
Equity attributable to the shareholders	4.0B CHF	4.4B CHF
Non-controlling interest	26.2M CHF	26.1M CHF
Total equity	4.1B CHF	4.4B CHF	3.6B CHF	4.0B CHF
Total liabilities and equity	11.7B CHF	12.1B CHF

Cash from operations⁵²$1.2B in 2025−3% since 2022

Capital spending⁵²$499.5M in 2025+20% since 2022

Free cash flow⁵²$715.7M in 2025−14% since 2022

Share buybacks⁵²$0 in 2025

Every line of the cash flow as filed: the last 3 fiscal years, latest first.²

Period ending	2025-12-31	2024-12-31	2023-12-31
Net (loss)	-108.5M CHF	-361.9M CHF	-312.2M CHF
Income tax (benefit)	-19.9M CHF	-16.7M CHF	-59.9M CHF
Share-based compensation expense	49.0M CHF	19.1M CHF	22.5M CHF
Depreciation of RoU assets	129.9M CHF	129.7M CHF	128.0M CHF
Depreciation of PP&E and amortisation of intangibles	936.4M CHF	917.9M CHF	992.1M CHF
Restructuring and other	-13.5M CHF	49.8M CHF	86.2M CHF
Financial income	-425.8M CHF	-257.7M CHF	-574.7M CHF
Financial expenses	656.3M CHF	742.6M CHF	957.2M CHF
Dividends received	3.3M CHF	3.0M CHF	3.1M CHF
Interest received	3.0M CHF	1.6M CHF	900.0K CHF
Tax refunds	0 CHF	0 CHF	4.0M CHF
Taxes paid	-33.8M CHF	-1.1M CHF	0 CHF
Proceeds from sale of trade receivables	51.5M CHF	0 CHF	0 CHF
Changes in operating assets and liabilities	-12.7M CHF	52.8M CHF	-45.7M CHF
Net cash provided by operating activities	1.2B CHF	1.3B CHF	1.2B CHF
Capital expenditures	-499.5M CHF	-541.1M CHF	-468.0M CHF
Cash paid in connection with acquisitions, net of cash acquired	0 CHF	0 CHF	-85.1M CHF
Acquisition of equity-accounted investees	0 CHF	-600.0K CHF	0 CHF
Net advances from (to) related parties	-200.0K CHF	112.7M CHF	-204.8M CHF
Cash received for other investing activities	0 CHF	0 CHF	100.0K CHF
Cash paid for other investing activities	-4.1M CHF	-49.7M CHF	-2.8M CHF
Net cash used in investing activities	-503.8M CHF	-478.7M CHF	-760.6M CHF
Interest paid	-261.3M CHF	-420.2M CHF	-422.5M CHF
Repayment out of capital contribution reserves to Sunrise Communications AG shareholders	-240.4M CHF	0 CHF	0 CHF
Borrowing of debt	1.3B CHF	0 CHF	0 CHF
Vendor financing additions	405.7M CHF	363.4M CHF	271.2M CHF
Repayments of debt	-1.2B CHF	-1.1B CHF	0 CHF
Principal payments on vendor financing	-430.7M CHF	-377.0M CHF	-296.6M CHF
Payment of lease liabilities	-121.0M CHF	-114.4M CHF	-107.6M CHF
Payment of financing costs and debt premiums	-19.3M CHF	0 CHF	100.0K CHF
Net cash received (paid) for interest related derivative instruments	41.9M CHF	172.7M CHF	174.5M CHF
Net cash paid for principal related derivative instruments	-193.2M CHF	-120.4M CHF	-57.4M CHF
Capital contribution from former parent	0 CHF	1.1B CHF	0 CHF
Issuance of share capital	0 CHF	100.0K CHF	0 CHF
Repurchase of treasury stock	0 CHF	-100.0K CHF	0 CHF
Cash (paid) for other financing activities	-5.1M CHF	0 CHF	-1.8M CHF
Net cash used in financing activities	-786.0M CHF	-454.4M CHF	-440.1M CHF
Net increase (decrease) in cash and cash equivalents:	-74.6M CHF	346.0M CHF	800.0K CHF
Effect of exchange rate changes on cash	-4.0M CHF	1.0M CHF	1.7M CHF

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Corporate structure

Sunrise Communications AG sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sunrise Communications AG

BAUPOST GROUP LLC/MA Filed SCHEDULE 13G/A on Sunrise Communications AG, latest Feb 4, 2026 (3 filings since Dec 5, 2024)
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Filed SCHEDULE 13G on Sunrise Communications AG, latest Jul 17, 2025
John C. Malone Filed SC 13D on Sunrise Communications AG, latest Nov 8, 2024

Sunrise Communications AG V8

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sunrise Communications AG reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Item	Latest	A year before	Change
Property and equipment, net	2.2B CHF² Dec 31, 2025	2.3B CHF² Dec 31, 2024	−4.6%
Operating-lease assets (leased space)	1.4B CHF² Dec 31, 2025	1.3B CHF² Dec 31, 2024	+8.3%

Investments

Item	Latest	A year before	Change
Cash and cash equivalents	273.2M CHF² Dec 31, 2025	351.8M CHF² Dec 31, 2024	−22.3%
Long-term investments	9.6M CHF² Dec 31, 2025	5.1M CHF² Dec 31, 2024	+88.2%

Intangibles and goodwill

Item	Latest	A year before	Change
Goodwill	6.0B CHF² Dec 31, 2025	6.0B CHF² Dec 31, 2024	0%
Intangible assets, net (excluding goodwill)	934.5M CHF² Dec 31, 2025	1.1B CHF² Dec 31, 2024	−13.8%

Inventory

Item	Latest	A year before	Change
Inventory, total	51.9M CHF² Dec 31, 2025	58.5M CHF² Dec 31, 2024	−11.3%

Filings

68 filings to the SEC since October 2021: 2 annual reports, 5 large holders, 61 other. The latest 20:

Sep 1, 20266-K EDGAR
Aug 25, 20266-K EDGAR
Aug 19, 20266-K EDGAR
Jul 22, 20266-K EDGAR
May 13, 20266-K EDGAR
May 7, 20266-K EDGAR
Mar 27, 20266-K EDGAR
Feb 18, 202620-F EDGAR
Feb 18, 20266-K EDGAR
Feb 6, 2026S-8 POS POST-EFFECTIVE AMENDMENT NO. 1 EDGAR
Feb 4, 2026SCHEDULE 13G/A EDGAR
Dec 15, 20256-K EDGAR
Nov 21, 20256-K EDGAR
Nov 20, 20256-K EDGAR
Nov 19, 2025F-6 POS EDGAR
Nov 12, 20256-K EDGAR
Oct 6, 20256-K EDGAR
Oct 2, 20256-K EDGAR
Aug 28, 20256-K EDGAR
Aug 21, 20256-K EDGAR

The 68 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

BAUPOST GROUP LLC/MASCHEDULE 13G/A, 3 filings Dec 5, 2024 to Feb 4, 2026⁶
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLCSCHEDULE 13G, 1 filing Jul 17, 2025⁷
John C. MaloneSC 13D, 1 filing Nov 8, 2024⁸

SEC filer profile

How Sunrise Communications AG is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

Name on EDGARSunrise Communications AG¹
CIK0002021938
Filer statusLarge accelerated filer not an emerging growth company; not a shell company⁴
Incorporated inSwitzerland⁴
Fiscal year endsDecember 31¹
Industry code (SIC)4841 Cable & Other Pay Television Services¹
SEC reviewing officeOffice of Technology, Division of Corporation Finance¹
Business addressThurgauerstrasse 101B, Glattpark, Opfikon, Zurich, V8 8152¹
Phone0800 300 100¹
Shares outstanding70,108,614 Class A Common Shares shares; 25,805,386 Class B Shares With Privileged Voting Rights shares as of Dec 31, 2025⁴
AuditorKPMG AG, Zurich, Switzerland PCAOB ID 3240; it also attests to the company’s internal control over financial reporting⁴
On EDGAR sinceMay 23, 2024¹
Filings68 in all: 6-K (30), UPLOAD (4), CORRESP (3), DRSLTR (3), EFFECT (3), 20-F (2), DRS/A (2), F-4/A (2)¹
All 23 form types
F-6 (2), S-8 (2), SCHEDULE 13G/A (2), SEC STAFF LETTER (2), 25 (1), 424B3 (1), 8-A12B (1), CERT (1), DRS (1), F-4 (1), F-6 POS (1), S-8 POS (1), SC 13D (1), SC 13G (1), SCHEDULE 13G (1)
Latest filingsAnnual report (20-F) Feb 18, 2026

Securities registered for trading

Class	Symbol	Exchange
Class A common shares, nominal value CHF 0.1 per share (Namenaktien)

From the cover page of the 20-F filed Feb 18, 2026 (Section 12(b) of the Exchange Act).⁴

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARSunrise Communications AG filings on SEC EDGAR
2
SEC EDGARSunrise Communications AG 10-K for fiscal 2025
3
SEC EDGARSunrise Communications AG filings on SEC EDGAR
4
SEC EDGARSunrise Communications AG annual report, Item 1 (Business)
5
SEC EDGARSunrise Communications AG 10-K for fiscal 2022
6
SEC EDGARBAUPOST GROUP LLC/MA SCHEDULE 13G/A on Sunrise Communications AG
7
SEC EDGARUBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC SCHEDULE 13G on Sunrise Communications AG
8
SEC EDGARJohn C. Malone SC 13D on Sunrise Communications AG