Finland-based Elisa has published its financial report covering the three month period ending 30 June 2015, reporting increases in most of its key fiscal metrics.
In the quarter under review Elisa generated a total turnover of EUR390 million (USD431 million), up from EUR384 million in the corresponding period of 2014, with increased mobile service revenues more than offsetting a decline in interconnection and roaming turnover. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled EUR131 million, representing a 3.1% year-on-year increase, while profits before tax amounted to EUR74 million, up from EUR67 million in 2Q 2014.
Looking ahead, Elisa said it still expects the macroeconomic environment in Finland to be weak in 2015, with competition to remain challenging. As such, it said it estimates that both full-year 2015 revenue and EBITDA (excluding non-recurring items) will be at the same levels as the previous fiscal year. Full-year capital expenditure is forecast to be a maximum of 12% of revenue.
In operational terms, Elisa recorded an increase in its total mobile subscriber base quarter-on-quarter, with it rising to 4.702 million, up from 4.676 million at the end of March 2015. However, this figure represented a marginal decline from the 4.706 million mobile accesses the operator had on its books at end-June 2014. Fixed broadband connections meanwhile continued to decline, falling to 545,000 at the end of June 2015, from 560,900 a year earlier.
Commenting on the results, Elisa CEO Veli-Matti Mattila noted: ‘The challenging general economic situation has remained unchanged. Nevertheless, we were able to strengthen Elisa’s competitiveness further. In the second quarter of the year, our revenue and earnings grew year-on-year. The growth in earnings was boosted by the increasing demand for mobile data and the improvement of the profitability of operations.’