Salt: Lower revenue, higher profit

Specifically, sales decreased by 15 percent year-on-year to 272 million Swiss francs, according to various analyst commentaries published on Monday. Adjusted EBITDA, on the other hand, rose by more than 8 percent to 107 million Swiss francs. Sales had already declined 13 percent in the first quarter of the year. The company, which is owned by French telecom entrepreneur Xavier Niel, only provides information on its own initiative to bondholders about its business performance on a quarterly basis. There are no official disclosures. According to a Deutsche Bank analyst report, the results would show Salt focusing more on margins than volumes in its strategy of profitable growth. It said the improved profitability was mainly due to cost savings. According to private bank Berenberg, Salt lost a total of 119,000 customers in the first half of the year, with this decline due to the loss of prepaid customers. Subscription customers, on the other hand, saw an increase of 18,000 customers during the period. Despite aggressive online campaigns, Salt was thus unable to outpace market growth, the commentary said. (SDA)