ELISA FINANCIAL STATEMENT RELEASE
Fourth quarter 2023 financial highlights
- Revenue was at the previous year's level,
EUR 563m , due to divestments and lower equipment sales. -
Mobile service revenue increased by 4.4 per cent to
EUR 244m . -
EBITDA grew by
EUR 6m toEUR 191m . -
Comparable EBIT increased by
EUR 4m toEUR 123m . -
Capital expenditure was
EUR 91m *. In 2022 to 2023, average capital expenditure was 12 per cent of revenue for those years, and the medium-term target of a maximum of 12 per cent remains intact. -
Comparable cash flow decreased by
EUR 13m toEUR 73m mainly due to a change in NWC. -
In
Finland , mobile post-paid ARPU increased toEUR 22.4 (22.1 in the previous quarter), and mobile post-paid churn increased to 15.4 percent (14.4) . - During the quarter, the net increase in post-paid mobile subscriptions was 23,900. The contribution of M2M and IoT subscriptions was +45,000.
- Prepaid subscriptions decreased by 14,600 during the quarter.
- The number of fixed broadband subscriptions increased by 1,300 during the quarter.
* Excluding leases, licenses, shares and business acquisitions
Key indicators
EUR million | 4Q23 | 4Q22 | Δ % | 2023 | 2022 | Δ % | |
Revenue | 563 | 563 | 0.1 % | 2,180 | 2,130 | 2.4 % | |
EBITDA | 191.3 | 185 | 3.4 % | 756 | 733 | 3.1 % | |
Comparable EBITDA (1 | 191 | 185 | 3.4 % | 756 | 735 | 2.8 % | |
EBIT | 118 | 119 | -1.0 % | 482 | 470 | 2.5 % | |
Comparable EBIT (1 (2 | 123 | 119 | 3.7 % | 487 | 472 | 3.3 % | |
Profit before tax | 111 | 115 | -4.1 % | 458 | 456 | 0.5 % | |
Comparable profit before tax (1 (2 | 116 | 115 | 0.8 % | 464 | 458 | 1.2 % | |
EPS, EUR | 0.58 | 0.60 | -2.7 % | 2.34 | 2.33 | 0.2 % | |
Comparable EPS, EUR (1 (2 | 0.61 | 0.60 | 2.0 % | 2.37 | 2.34 | 1.0 % | |
Capital expenditure | 109 | 97 | 11.9 % | 321 | 290 | 11.0 % | |
Net debt | 1,304 | 1,276 | 2.2 % | 1,304 | 1,276 | 2.2 % | |
Net debt / EBITDA (3 | 1.7 | 1.7 | 1.7 | 1.7 | |||
Gearing ratio, % | 100.8 % | 101.9 % | 100.8 % | 101.9 % | |||
Equity ratio, % | 41.6 % | 40.6 % | 41.6 % | 40.6 % | |||
Cash flow (4 | 61 | 86 | -28.8 % | 347 | 300 | 15.7 % | |
Comparable cash flow (5 | 73 | 86 | -15.1 % | 361 | 321 | 12.4 % | |
1) 2022 excluding
The Board of Directors proposes to the Annual General Meeting a dividend of
Additional key performance indicators are available at elisa.com/investors (Elisa Operational Data.xlsx).
CEO
In the fourth quarter, Elisa continued its good performance. Revenue was at the previous year's level:
During the fourth quarter, we further strengthened our position as the mobile and fixed network market leader in
During the second half of 2023, we expanded our fibre network in nearly 40 locations. Additionally, we acquired the fibre network constructed by Elenia in
Demand for cybersecurity solutions continued to increase. Elisa was the first operator in
Elisa Polystar announced three major contracts to provide solutions in data management, analytics and automation to three European operators. Elisa IndustrIQ announced a contract to modernise a European manufacturing customer's operations in its forklift truck factory.
Elisa's Distributed Energy Storage (DES) solution is expanding in the Finnish electricity reserve market. This award-winning solution has already been operating as part of the Automatic Frequency Restoration Reserve (aFRR), and it has now also been approved by the grid operator
Elisa's long-term sustainability work is also reflected in international assessments. In December,
Elisa's unique strategy generates sustainable profit and growth. Our competitiveness is based on continuously increasing our productivity and quality, our strong investment capability, and the growth opportunities from our innovative digital services globally. Elisa and its entire personnel are engaged in creating value for our customers and a positive impact on society to ensure solid financial performance for shareholders.
Outlook and guidance for 2024
Development in the general economy includes many uncertainties. Growth in the Finnish economy is expected to stall. In particular, uncertainty relating to
Full-year revenue is estimated to be same level or slightly higher than in 2023. Mobile data and digital services are expected to increase revenue. Full-year comparable EBITDA is anticipated to be same level or slightly higher than in 2023. Capital expenditure is expected to be 12-13 per cent of revenue.
Elisa is continuing to develop to improve productivity, for example by increasing automation and data analytics in different processes, such as customer interaction, network operations and delivery. Additionally, Elisa's continuous quality improvement measures will increase customer satisfaction and efficiency, and reduce costs.
Elisa's transformation into a provider of exciting, new and relevant services for its customers is continuing. Long-term revenue growth and profitability improvement will derive from growth in the mobile data market, as well as domestic and international digital services.
Profit distribution
According to Elisa's distribution policy, profit distribution is 80-100 per cent of the previous fiscal year's net profit. In addition, any excess capital can be distributed to shareholders. When making the distribution proposal or decision, the Board of Directors will take into consideration the company's financial position, future financial needs and financial targets. Profit distribution includes dividend payment, capital repayment and purchase of treasury shares.
The Board of Directors proposes to the Annual General Meeting a dividend of
It is proposed that the first instalment of the dividend,
The Board of Directors also decided to propose to the General Meeting that the Board of Directors be authorised to acquire a maximum of five million treasury shares, which corresponds to 3 per cent of the total number of shares.
Additional information:
Mr.
Mr.
Mr.
Distribution:
Nasdaq
Principal media
elisa.com
https://news.cision.com/elisa-oyj/r/elisa-s-financial-statements-release-2023,c3916083
https://mb.cision.com/Public/18382/3916083/bcb80ccc868f5091.pdf
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