Elisa unveils sold third-quarter financial results

21 Oct 2011

Finland’s Elisa Corporation has released its financial results for the three months ended 30 September 2011, revealing a 4% year-on-year increase in revenue for the period. The operator posted a turnover of EUR378 million (USD519 million) for the quarter, up from EUR363 million in the corresponding period a year earlier. It noted that revenue from its consumer operations had risen to EUR234 million from EUR225 million, growth which Elisa attributed to increased equipment sales, and growth at its Estonian subsidiary, while online services such as the Elisa Viihde IPTV service also reportedly contributed positively to revenue growth. The operator did however note that a decline in fixed line voice subscriber numbers and had negatively impacted consumer revenue. Turnover attributed to business consumers meanwhile increased by 4% to EUR144 million, in part as a result of the growth in ICT services due to acquisitions made in 2010 and increased equipment sales. Group earnings before interest, tax, depreciation and amortisation (EBITDA) rose 6% y-o-y to EUR135 million, while profit before tax for the three-month period stood at EUR74 million, up from EUR68 million in the same period a year earlier.

In operational terms, at the end of September 2011 Elisa reported a total of 4.093 million mobile subscribers, of which 3.617 million were attributed to its Finnish operations, with the remainder signed up to its Estonian unit’s services. Finnish broadband subscriber numbers meanwhile rose to 482,400 from 463,400 a year earlier, while fixed line connections fell from 409,400 to 356,600.

Commenting on the results, Elisa CEO Veli-Matti Mattila said: ‘Elisa delivers a strong result, exceeding four million mobile subscriptions. Elisa’s earnings grew strongly during the third quarter of 2011, and the company’s revenue developed favorably. Despite tough competition, the demand for Elisa’s services remained high.’

Finland, Elisa Corporation, Elisa Estonia (incl. Starman)