Elisa reports lower first quarter revenues

18 Apr 2019

Finland’s Elisa Corporation has published its financial results for the first three months of 2019, revealing a decline in revenues which it attributed mainly to ‘a decrease in equipment sales, lower interconnection revenue and divestments’.

In the three months ended 31 March 2019 Elisa generated a total turnover of EUR440 million (USD497 million), down 2.2% compared to the EUR450 million reported in the corresponding period of 2018. Revenues from mobile services accounted for more than half of the total, standing at EUR264 million, down marginally from EUR266 million, while ‘fixed and digital services’ revenue saw a greater decline in percentage terms, falling 4% year-on-year to EUR176 million.

EBITDA for the three-month period under review totalled EUR155 million, up from EUR143 million in 1Q18, while Elisa noted that ‘comparable EBITDA’, including the change to the IFRS 16 reporting standard, was EUR158 million. Profit before tax, meanwhile, was EUR83 million in 1Q19, down 7.5% y-o-y.

In operational terms, at the end of March 2019 Elisa’s mobile subscriber base totalled 4.641 million, down marginally from 4.656 million a year earlier, with the lion’s share of those – 3.977 million (Mar-18: 3.995 million) – being in its home market, and the remaining 664,000 (661,000) attributed to its Estonian subsidiary. In addition, total fixed network subscriptions numbered 1.528 million, broadly unchanged from the 1.529 million reported for end-March 2018, with 695,000 of those being broadband accesses (Mar-18: 688,000) and 135,000 (163,000) being fixed voice connections; the remaining 698,000 subscriptions were for pay-TV services (DTT and cable-based combined).

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