Hmmm – Elisa profits down, though EBITDA exceeds expectations

9 Feb 2006

Finnish telecoms group Elisa Communications reported pre-tax profits of EUR33 million in the fourth quarter of 2005, down from EUR65 million the year before. In the three months ending 31 December 2005 net sales fell to EUR343 million, from EUR351 million in 4Q04, though EBITDA was slightly better than expected at EUR89 million. Elisa’s mobile business provided more than half of its revenues and the group finished the period with a total 2.228 million mobile subscribers, of which 1.48 million were customers of its wireless network operator Elisa Mobile; 478,973 were users of the MVNO business Saunalahti which it acquired in December 2005; and a further 266,000 of its cellco in Estonia, also operating under the Elisa brand. Churn in Finland was down to 22.6%, from 38.9% a year ago, though monthly blended ARPU also fell significantly from EUR37 to EUR30.4. In the fixed line market Elisa increased its broadband subscriber base by 68% to end 2005 with 420,465 customers, of which 384,909 were Elisa users and 35,556 Saunalahti subscribers. Elisa said in a statement it expected its revenue to increase significantly in 2006.

Finland, Elisa Corporation,

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