Finland’s Elisa Corporation has published its financial results for both the fourth quarter of 2020, as well as the full year period, with the company claiming to have ‘continued its solid development’ in the closing three months of the year.
For the quarter ended 31 December 2020 Elisa reported a 2% year-on-year increase revenue, to EUR498 million (USD603 million), attributed to growth in mobile and fixed services, domestic digital services and equipment sales, which offset a decrease in usage and subscriptions of ‘traditional fixed [PSTN]’ telecom services, as well as lower turnover from interconnection and roaming. For FY 2020, meanwhile, it recorded a total turnover of EUR1.89 billion, up marginally from the EUR1.84 billion recorded in 2019. Fourth quarter EBITDA was EUR171 million, representing an annualised increase of 2%, while for the full year period ‘comparable’ EBITDA increased by 3% – to EUR685 million – due to revenue growth and efficiency improvement measures. Rounding out key financial metrics, Elisa’s net profit totalled EUR82 million in 4Q20, up from EUR79 million a year earlier, while full year net profit improved to EUR328 million (FY19: EUR303 million).
Looking ahead, Elisa has said it estimates that full year revenue in 2021 to be ‘slightly higher’ than in 2020, with the company expecting turnover from mobile data and digital services to increase. Meanwhile, full year comparable EBITDA is anticipated to be at the same level or slightly higher than in 2020, with capital expenditure forecast at a maximum of 12% of revenue in 2021.
In operational terms, one highlight was the growth of 5G accesses, with Elisa confirming that its network now covers some two million Finns, while 5G subscriptions had risen to ‘close to 200,000’ by the end of 2020. Across both its domestic and Estonian operations, the telco reported a mobile subscriber total of 4.798 million, up from 4.737 million a year earlier, with the lion’s share of those – 4.133 million, up from 4.067 million – being in Finland. Group-wide, fixed broadband accesses rose to 701,000, from 690,000 at the end of 2019, while fixed voice accesses continued to decline, falling to 98,000 (Dec-19: 120,000).