Stock Exchange Bulletins
BackElisa's interim report January-September 2009
Third quarter 2009
Revenue was EUR 360 million (374)
EBITDA improved to EUR 131 million (129), EBIT was EUR 77 million (77)
Profit before tax amounted to EUR 70 million (67)
Earnings per share was EUR 0.34 (0.33)
Cash flow after investments was EUR 43 million (51)
Revenue per subscription (ARPU) in the mobile business was EUR 23.2 (24.0 in the second quarter)
Churn was at the same level, 14.5 per cent (14.7 in the second quarter)
The number of Elisa's mobile subscriptions increased by 65,000 during the quarter, due in particular to the new 3G and 2G customers, as well as mobile broadband customers
The number of fixed broadband subscriptions decreased by 6,000 on the previous quarter
Net debt / EBITDA was 1.5 (1.7 at the end of 2008) and gearing 79 per cent (93 at the end of 2008)
January-September 2009
Revenue was EUR 1,066 million (1,113)
EBITDA was EUR 363 million (342), EBIT EUR 203 million (187)
EBITDA excluding non-recurring items was EUR 363 million (349), EBIT EUR 203 million (194)
Cash flow after investments was EUR 178 million (176)
Key indicators:
|
EUR million |
7-9/2009 |
7-9/2008 |
1-9/2009 |
1-9/2008 |
|
Revenue |
360 |
374 |
1,066 |
1,113 |
|
EBITDA |
131 |
129 |
363 |
342 |
|
EBITDA excluding non-recurring items |
131 |
129 |
363 |
349 |
|
EBIT |
77 |
77 |
203 |
187 |
|
Profit before tax |
70 |
67 |
179 |
157 |
|
Earnings per share, EUR |
0.34 |
0.33 |
0.87 |
0.78 |
|
Capital expenditures |
40 |
42 |
111 |
120 |
Financial position and cash flow:
|
EUR million |
30.9.2009 |
30.9.2008 |
31.12.2008 |
|
Net debt |
729 |
891 |
812 |
|
Net debt / EBITDA 1) |
1.5 |
1.9 |
1.7 |
|
Gearing ratio, % |
79.2 |
107.4 |
92.8 |
|
Equity ratio, % |
47.7 |
40.8 |
43.3 |
|
EUR million |
7-9/2009 |
7-9/2008 |
1-9/2009 |
1-9/2008 |
|
Cash flow after investments |
43 |
51 |
178 |
176 |
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:
"EBITDA guidance upgraded and additional profit distribution decided
Elisa's profitability continued to be strong in the third quarter. Determined measures to improve productivity and service quality continued to strengthen our competitiveness and profitability even though the overall economic environment has not improved. Cash flow continued to be strong. Revenue fell slightly from the previous year, which was mostly due to lower terminal sales volume as well as decreased interconnection fees and roaming revenue.
Despite a challenging competitive situation, Elisa continued to strengthen its market position in its main market areas. In addition to improving productivity, the consumer business focused on developing its service and product offering. Our modern, versatile IPTV service Elisa Viihde, which was well-received in the markets was introduced in two more cities: Tampere and Riihimäki.
Corporate customers are increasingly seeking productivity improvements. Elisa's service offering provides excellent solutions for these needs. For example the demand for modern virtual conference solutions increased and we established new customer relationships. Moreover, Elisa launched new ICT services to make business activities more effective, such as a field force automation service which promotes the steering of mobile work.
Construction of the 3G network continued. The widest coverage of Elisa's 3G network was confirmed by the Market Court in its decision. The strong growth in subscriptions further consolidates our position as the 3G market leader.
The general economic decline will continue to affect our business to some extent. Determined productivity improvements in accordance with our strategy, an expanding service offering and our capability to invest based on our strong cash flow create a good base for the future. We believe that our business activities will continue to develop favourably in the coming years.
We have upgraded our EBITDA outlook for 2009. Due to the favourable development in the company's result and financial position as well as maintaining the company's capital structure targets, Elisa has decided to distribute an extraordinary capital repayment of EUR 0.40 per share to the shareholders."
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 Helsinki
Principal media
www.elisa.com