Elisa records 2.9% growth in revenues in 1Q21

22 Apr 2021

Finland-based Elisa Corporation has reported its financial results for the three months ended 31 March 2021, with CEO Veli-Matti Mattila calling it ‘a good quarter in challenging circumstances’. For the period under review Elisa generated a total turnover of EUR482 million (USD581 million), up from EUR462 million in Q1 2020, with the company saying the 2.9% year-on-year growth was mainly due to the acquisition of industrial software provider camLine, the launch of combined streaming service Elisa Viihde Viaplay and increased equipment sales. Mobile service revenue, meanwhile, totalled EUR210 million, representing a 0.9% increase on an annualised basis from the EUR208 million reported a year earlier.

In terms of other key financial metrics, Elisa reported EBITDA of EUR170 million for 1Q21, up from EUR166 million in the corresponding period of 2020, citing efficiency improvements, while it recorded a pre-tax profit of EUR99 million (1Q20: EUR95 million). Capital expenditure in the first three months of 2021 totalled EUR53 million, up marginally from EUR51 million a year earlier.

With regards to operational highlights, Elisa claimed that the 5G market was ‘developing well’, and it claimed to now have the most extensive network in Finland, covering ‘over 2.5 million Finns in over 80 towns and cities’. While it stopped short of confirming how many 5G subscribers it had at the end of the reporting period, it did reveal that group-wide (i.e. across both Estonia and Finland) its total mobile subscriber had increased to 4.808 million as of 31 March 2021, up from 4.744 million a year earlier. Of that total, 4.143 million were in its domestic territory, up from 4.080 million. In the fixed broadband arena, however, Elisa Group reported a total of 670,000 accesses, with this representing an almost 3% y-o-y decline, while fixed voice subscriber numbers maintained a downward trajectory, falling to 91,000, from 113,000 a year earlier.

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