Elisa reports falling sales, while EBITDA climbs

24 Apr 2009

Finnish telco Elisa has recorded a revenue of EUR351 million (USD457 million) in the first three months of 2009, down from EUR367 million in the same period of 2008. The decline was blamed on lower equipment sales and falling interconnection fees and roaming revenue. EBITDA excluding non-recurring items rose from EUR108 million in 1Q 2008 to EUR115 million, while EBITDA margin climbed from 29% to 33%. Profit for the period was EUR41.2 million, up from EUR40.2 million. According to the company, ‘Elisa’s business has so far been impacted only marginally by the general economic decline. However, Elisa will not be immune to the negative economic development.’ The company said its main risks relate to the development of the Estonian economy and the corporate customer segment. ‘Likewise, capital expenditure will be actively controlled to a maximum 12% of revenue, and it may be reduced clearly, if the general economy deteriorates further,’ the company said.

At 31 March 2009 Elisa had 2.69 million wireless customers in its domestic market and a further 337,000 in Estonia. In terms of fixed line operations, Elisa had 487,000 main lines in service in Finland and 495,000 broadband customers.

Finland, Elisa Corporation