Mobilezone (MOZN) H2 2024 earnings summary

Executive summary

• Net sales grew 1.2% currency-adjusted to CHF 1,025 million, with organic growth offset by a -1.5% currency effect.

• EBITDA declined to CHF 66.9 million (PY: CHF 80.1 million), and EBIT to CHF 52.7 million (PY: CHF 68.7 million), reflecting cost pressures and special effects.

• Net income was CHF 38.1 million, down from CHF 51.7 million year-over-year.

• MVNO postpaid subscriptions surged 27% to 373,800, with strong growth in both Switzerland and Germany.

• Sustainability initiatives advanced, including SBTi commitment and doubling of refurbished device sales.

Financial highlights

• Net sales: CHF 1,010 million (PY: CHF 1,013 million), currency-adjusted CHF 1,025 million.

• Gross profit: CHF 190.6 million (PY: CHF 206.4 million), margin 18.9%.

• EBITDA: CHF 66.9 million (PY: CHF 80.1 million), margin 6.6%.

• EBIT: CHF 52.7 million (PY: CHF 68.7 million), margin 5.2%.

• Net income: CHF 38.1 million (PY: CHF 51.7 million).

Outlook and guidance

• 2025 EBIT guidance: CHF 53–60 million; 2025 is expected to be a transition year.

• EBIT margin targets: Switzerland 11–12%, Germany 3–3.5%.

• Dividend policy remains attractive, with CHF 0.90 per share proposed.

• Net debt/EBITDA expected to remain below 2.