Stock Exchange Bulletins
BackElisa's Interim Report January - June 2009
STOCK EXCHANGE RELEASE 17 JULY 2009 AT 8.31 am
Second quarter 2009
À Revenue was EUR 355 million (372)
À EBITDA excluding non-recurring items was EUR 116 million (109), EBIT EUR 64 million (57)
À Profit before tax amounted to EUR 56 million (38)
À Earnings per share was EUR 0.27 (0.20)
À Cash flow after investments was strong, EUR 89 million (59)
À The full year outlook is reiterated
À Revenue per subscription (ARPU) in the mobile business was at the previous quarter’s level EUR 24.0 (24.1 in the first quarter)
À Churn was 14.7 per cent (14.0 in the first quarter)
À The number of Elisa’s mobile subscriptions increased by 127 000 during the quarter, due in particular to the new 3G and 2G customers, as well as mobile broadband
À The number of fixed broadband subscriptions decreased by 13,600 on the previous quarter
À Net debt / EBITDA was 1.6 (1.7 at the end of 2008) and gearing 89% (93 at the end of 2008)
January-June 2009
À Revenue was EUR 706 million (739)
À EBITDA was EUR 231 million (213), EBIT EUR 126 million (110)
À EBITDA excluding non-recurring items was EUR 231 million (220), EBIT EUR 126 million (117)
À Cash flow after investments was EUR 135 million (125)
Key indicators:
|
EUR million |
4-6/2009 |
4-6/2008 |
1-6/2009 |
1-6/2008 |
|
Revenue |
355 |
372 |
706 |
739 |
|
EBITDA |
116 |
105 |
231 |
213 |
|
EBITDA excluding non-recurring items |
116 |
109 |
231 |
220 |
|
EBIT |
64 |
53 |
126 |
110 |
|
Profit before tax |
56 |
38 |
109 |
90 |
|
Earnings per share, EUR |
0.27 |
0.20 |
0.53 |
0.45 |
|
Capital expenditures |
36 |
41 |
70 |
78 |
Financial position and cash flow:
|
EUR million |
30.6.2009 |
30.6.2008 |
31.12.2008 |
|
Net debt |
773 |
898 |
812 |
|
Net debt / EBITDA 1) |
1.6 |
1.9 |
1.7 |
|
Gearing ratio, % |
89.2 |
109.3 |
92.8 |
|
Equity ratio, % |
44.6 |
40.4 |
43.3 |
|
EUR million |
4-6/2009 |
4-6/2008 |
1-6/2009 |
1-6/2008 |
|
Cash flow after investments |
89 |
59 |
135 |
125 |
1) (interest-bearing debt – financial assets) / (4 previous quarters’ EBITDA exclusive of non-recurring items)
Additional information regarding the Key Performance Indicators is available on www.elisa.com/investors, in the section: Financial info, Financial Statements & Interim Reports: Elisa Quarterly Data.
CEO Veli-Matti Mattila:
?Elisa’s result good despite economic downturn
Elisa's profitability continued to be strong. Continuous improvement of productivity and service quality have created prerequisites for a good result despite the general economic downturn. In the second quarter, cash flow also continued to be strong. Revenue fell slightly from the previous year, mainly as a result of lower equipment sales volume as well as decreased interconnection fees and roaming revenue.
The competitive situation remained challenging. In the consumer business, we continued to develop an attractive service and product offering as well as to improve productivity. We launched the Elisa Viihde service – a modern, versatile digital IPTV service. Elisa was the first in
We continued to build our 3G network, which has the best coverage in
We continue determinedly to implement our strategy by developing the productivity of our operations and by offering our customers more services relevant to them. Our competitiveness in cost and investment efficiency, as well as good cash flow allows us to continue implementing this strategy. However, the general economic downturn will continue to affect our business to some extent. We believe that with firm improvement of productivity and expanding service offering, we can meet these challenges and that our business will continue to develop favourably in the years to come.?
ELISA
Vesa Sahivirta
Director, IR and Financial Communications
tel. +358 50 520 5555
Additional information:
Mr Veli-Matti Mattila, CEO, tel. +358 10 262 2635
Mr Jari Kinnunen, CFO, tel. +358 10 262 9510
Mr Vesa Sahivirta, Director, IR and Financial Communications, tel. +358 50 520 5555
Distribution:
NASDAQ OMX
www.elisa.com