Finland-based Elisa has published its financial results for the three months ended 31 March 2015, reporting an increase in net profit for the period, despite flat revenues.
In the quarter under review Elisa generated a total turnover of EUR381 million (USD429 million), down by just 0.3% against the corresponding period of 2014, with the company saying that it had been positively affected by growth in mobile services and equipment sales, while lower interconnection rates, the divestment of non-core business, and a decrease in usage and subscriptions of traditional fixed telecom services were cited as impacting revenue negatively. EBTIDA increased by 2% year-on-year, from EUR126 million in 1Q14 to EUR129 million, with this attributed mainly to growth in mobile service and consumer customers’ online service revenue. Elisa’s net profit for the first three months of 2015 meanwhile totalled EUR58.9 million, up from EUR51.1 million.
In operational terms, at the end of March 2015 Elisa had 4.012 million mobile subscribers in Finland, down from 4.049 million a year earlier, while its Estonian subsidiary had 664,100, also lower than the 645,500 reported for end-March 2014. Meanwhile, in terms of fixed broadband accesses Elisa’s domestic unit had 557,400 such connections on its books at the end of the first quarter of 2015, down from 563,900 a year earlier.
Commenting on the company’s performance in the opening quarter of 2015, Elisa CEO Veli-Matti Mattila noted: ‘Despite the continuing uncertainty caused by the general economic situation, Elisa strengthened its competitiveness. In the first quarter, revenue remained at the same level and earnings grew year-on-year. The growth in earnings was particularly driven by growth in the use of mobile data and more productive operations.’