Mobilezone Dominates Swiss MVNO Market in First Half of Year

Markus Bernhard, executive delegate of the board of directors, says: “Mobilezone looks back on a good first half of the year. Thanks to good figures in the contract business and continuing growth in the MVNO area, the Switzerland division was able to achieve the best result of the 26-year company history. In Germany, Mobilezone consistently implemented the strategy announced in December 2024 to increase the contribution margins per contract and is convinced despite the short-term deeper volume that this is the right forward strategy in addition to the further development of the MVNO business (Recurring Revenue). The business development of the past few weeks is positive to achieve our annual goals. »

Completed telecommunications contracts (postpaid, internet and TV)

• Group: 729,000 / –6.4 percent (previous year: 779,000)
• Switzerland: 230,000 / +1.8 percent (previous year: 226,000)
• Germany: 499,000 / –9.8 percent (previous year: 553,000)

Development MVNo business

• The number of MVNO subscription customers (mobile virtual network operator) increased by 17.6 percent in the first half of the year from 373,800 to 439,600 customers.
• The MVNO turnover increased from CHF 33.1 million (adapted) to CHF 41.8 million; The sales growth was 26.3 percent.

Most important numbers shortly

• From the turnover of CHF 430 million, 72 percent in Germany and 28 percent in Switzerland were achieved in the previous year. The currency -adjusted turnover is CHF 436 million (–8.4 percent).
• The gross profit was CHF 92.8 million (previous year: CHF 93.5 million).
• The EBITDA was CHF 31.7 million (previous year: CHF 33.7 million) with an EBITDA margin of 7.4 percent (previous year adapted: 7.1 percent).
• The operational profit (EBIT) was CHF 23.8 million (previous year: CHF 26.4 million) with an EBIT margin of 5.5 percent (previous year adjusted: 5.6 percent), for which Switzerland contributed 66 percent and Germany 34 percent (previous year: 57/43 percent).
• The MVNO turnover increased from CHF 33.1 million (adapted) to CHF 41.8 million; The sales growth was 26.3 percent. The MVNo-Postpaid subscription stock increased by 17.6 percent from 373,800 to 439,600 in the first half of the year.
• The financial expenses decreased by CHF 0.3 million to CHF 2.2 million (previous year: CHF 2.5 million).
• The tax expenses was CHF 4.3 million and decreased by CHF 1.3 million compared to the previous year (tax rate: 19.7 percent / previous year: 22.9 percent).
• The group win was at CHF 17.6 million (previous year: CHF 19.0 million).
• The net money flow from operational activity amounted to CHF 38.2 million (previous year: CHF 18.4 million).
• The net debt was reduced to CHF 100 million (30.06.2024: CHF 121 million).
• The ratio of net debt to EBITDA was adapted at 1.75 (31.12.2024: 1.50 / 30.06.2024: 1.56).
• CHF 106 million (31.12.2024: CHF 132 million / 30.06.2024: CHF 119 million) was the equity in the individual degree of mobilezone Holding AG.
• The profit per share was CHF 0.41 (previous year: CHF 0.44).
• The share price was on June 30, 2025 at CHF 11.44 compared to CHF 10.38 on December 31, 2024.

Market area Switzerland

The business in Switzerland recorded the best first half of the company in the company’s history. The POS business, the B2B business, growth in the MVNo business (brands talktalk and digital republic), as well as in the area of second life (JUSIT brand, refurbishing and repair business) have contributed to the slight eBIT increase. The contracts were increased by 1.8 percent compared to the good first half of 2024. In view of a rather weak comparison basis in the second half of the year, we are confident about the contracts to get further to the end of the year.

• Due to the increased market development towards Sim-Only, sales decreased from CHF 135 million to CHF 125 million or 7.3 percent.
• The EBITDA was CHF 19.0 million (previous year: CHF 18.9 million), which corresponds to a sales renovation of 15.2 percent (previous year: 14.0 percent).
• The EBIT was CHF 15.6 million (previous year: CHF 15.1 million), which corresponds to a sales renovation of 12.5 percent (previous year: 11.2 percent).
• The number of shops was 127 (December 31, 2024: 127).
• The arranged contracts (postpaid, internet and TV) were increased by 1.8 percent to 230,000 (previous year: 226,000).
• Service sales (fleet management, data transfer, setting up smartphones and other services) was CHF 4.0 million (previous year: CHF 3.6 million).
• The accessories turnover stabilized at a high level and was CHF 9.6 million (previous year: CHF 10.3 million) or 7.6 percent (previous year: 7.6 percent) from sales in Switzerland. The profitability could be increased through targeted range of assortment.
• The MVNo turnover of Talktalk and Digital Republic rose to CHF 22.0 million (previous year: CHF 18.0 million). The number of postpaid customers as of the end of June 2025 was expanded by 10.7 percent to 200,900 (31.12.2024: 181,400).
• The Jusit brand, which was aimed at sustainability, achieved the best sales result since its introduction in the first half of the year. The number of refurbished smartphones sold was 10,600 and thus 47.8 percent above the previous year.

Market area Germany

In Germany, thanks to the realignment of the sales strategy announced in December 2024, the profitability per contract was significantly increased compared to the second half of 2024. As expected, this had a negative effect on the volume achieved (-9.8 percent compared to the previous year). Further successes could be achieved in the MVNO area-the record customer acquisition at High in the birthday month of June should be emphasized. Mobilezone is convinced that the sales strategy based on gross profit in the online business, in addition to the further development of the MVNO business (Recurring Revenue), is and remains confident for further business development.

• Due to lower volume in the bundle business, sales decreased by 9.0 percent from EUR 359 million (adapted) to EUR 327 million. In the reporting currency CHF, the adapted sales of CHF 342 million decreased to CHF 308 million or 9.9 percent.
• The EBITDA was EUR 13.3 million (previous year: EUR 15.3 million), which corresponds to a sales redistability of 4.1 percent (previous year: 4.3 percent). In the reporting currency, EBITDA is CHF CHF 12.6 million (previous year: CHF 14.8 million).
• The EBIT was 8.6 million (previous year: EUR 11.7 million), which corresponds to a sales redistability of 2.7 percent (previous year: 3.3 percent). In the reporting currency, EBIT is CHF 8.2 million (previous year: CHF 11.3 million).
• The volume in B2B trading fell by 6.0 percent to 234,000 (previous year: 249,000) mobile phone contracts.
• In the online business, 265,000 (previous year: 304,000) mobile phone contracts were concluded. This corresponds to a decrease of 12.8 percent.
• A total of 499,000 (previous year: 553,000) mobile phone contracts were concluded online and in B2B trading, which corresponds to a decrease of 9.8 percent.
• The sales of the MVNO High and Simyo were increased by 32.9 percent to EUR 21.0 million (previous year: EUR 15.8 million). The postpaid customer inventory was 238,700 (December 31, 2024: 192,400) and was increased by 24.1 percent.

Growth in the area of second life and refurbishing of smartphones

The second life area, which includes repairs and refurbishing of smartphones, continues to become more important in the first half of the year. The own brand Jusit, which specializes in re -prepared (refurbished) devices, was able to report a new sales record in June. We were able to increase the number of Jusit devices sold by 47.8 percent to 10,600 in the first half of the year. This corresponds to 13.0 percent (previous year: 8.1 percent) of the overall sold smartphones at Mobilezone in Switzerland. In the refurbishing and repair business in general, profitability could be significantly increased compared to the previous year. The expansion in the area of second life shows that our range of high -quality and certified reproduced devices corresponds to the zeitgeist of a sustainable device circuit, and consequently an increasing customer demand. We therefore see further growth potential in this business area.

Good growth moment in the MVNO division

The business area MVNO has continued to develop positively and now counts 439,600 postpaid customers. This corresponds to an increase compared to the year 2024 of 17.6 percent and an increase of 31.6 percent compared to the previous year. Mobilezone has thus reached its annual destination of 440,000 Postpaid customers at an early stage. The successful launch of the new “Flat Mobile” product family at Digital Republic and the optimized online strategy at Talktalk contributed to the good performance of our Swiss MVNO. In addition, there is the strong market positioning of High in the middle price segment of the German mobile radio market, combined with good network quality. The good positioning was reflected in a new new customer record in the birthday month of June. After a good start in the fourth quarter of 2024, Simyo stayed behind its own expectations due to increased market pressure

Change in the group management

As announced on April 8, 2025, Andreas Fecker will step down as a CFO of the Mobilezone Group as of September 30, 2025. After more than ten years in this function, he leaves the company at his own request. The Board of Directors warmly thanks him for his many years of commitment and his valuable contribution to the successful development of the group. On October 1, 2025, Bernhard Mächler, currently CFO Switzerland, took over the function as a group CFO. Bernhard Mächler, a qualified auditor, is very familiar with the finances and business model of Mobilezone through his previous activity and has significantly shaped various initiatives and projects over the past few years. Bernhard Mächler has a master’s degree in Accounting & Finance at the University of St. Gallen (HSG) and worked as an auditor in various management levels at PricewaterhouseCoopers before he joined MobileZone in 2020.

Shared referring program 2022 to 2025

The share buyback program 2022 to 2025 will also be suspended in 2025.

Outlook 2025

We confirm the EBIT guidance of CHF 53.0 to 60.0 million for the current financial year. The business development of the past few weeks in the Swiss retail business, the stabilization of the volume in Germany, as well as the deeper comparison basis for the second half of the year in both countries agree to achieve our goals confidently. At segment stage we expect a slightly higher EBIT margin from 12.5 to 13.0 percent (previously 11.0 to 12.0 percent) for Switzerland and 2.8 to 3.3 percent (previously: 3.0 to 3.5 percent) for Germany.

Investments without customer acquisition costs in 2025 are expected in the area of CHF 6 million (previously CHF 10 million).

As in previous years, we expect a solid cash generation and consequently a stable net duty level (net debt / EBITDA) from <2. The attractive dividend policy continues.

For the MVNO division, which includes our brands Talktalk, Digital Republic, High and Simyo, we expect continued growth of our customer base to over 480,000 (previously 440,000) postpaid customers by the end of the reporting year.

Based on the reduced cost base, continued tight cost management and the continued good market positions in our core markets, we are confident about a positive development in the 2025 financial year and also confidently.

The half -year report 2025 with the detailed annual accounts according to Swiss GAAP FER is now available www.mobilezoneholding.ch/de/investoren/berichte.html available.

On August 15, 2025, a video conference for investors, analysts and media professionals will take place at 9.15 a.m. The online conference takes place in German and participation is possible via the following link: https://www.mobilezoneholding.ch/de/investoren/videokonferenz.html