Elisa posts disappointing Q2 results

1 Aug 2008

Finnish telecoms operator Elisa has reported falling revenue and net profit figures for the second quarter, due to weak results from its mobile unit. Sales in the three months ended 30 June 2008 were EUR372 million (USD580 million), down from EUR393 million a year earlier. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding non-recurring items, fell 6% to EUR109 million. Elisa, Finland’s second largest carrier after TeliaSonera, said results were hit by the costs of changing its IT system and higher than expected customer intake costs. At the end of June the company claimed 2.44 million wireless customers in its domestic market, an increase of over 180,000 year-on-year fuelled by additions to its 3G network.

Finland, Elisa Corporation