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2011-10-21 07:40:00 CEST 2011-10-21 07:40:26 CEST REGULATED INFORMATION Elisa - Interim report (Q1 and Q3)ELISA'S INTERIM REPORT JANUARY-SEPTEMBER 2011ELISA STOCK EXCHANGE RELEASE 21 OCTOBER 2011 AT 8:30am Third quarter 2011 * Revenue was EUR 378 million (363) * EBITDA was EUR 135 million (127), EBIT was EUR 82 million (73) * Profit before tax amounted to EUR 74 million (68) * Earnings per share was EUR 0.36 (0.32) * Cash flow after investments was EUR 56 million (29) * Mobile ARPU was EUR 19.0 (19.3 in the second quarter) * Mobile churn increased slightly to 12.7 per cent (11.9 in the second quarter, 18.1 in Q3/2010) * The number of mobile subscriptions increased by 103,000 during the quarter * The number of fixed broadband subscriptions increased by 7,900 on the previous quarter * Elisa Viihde IPTV subscriptions exceeded 100,000 * Net debt / EBITDA was 1.6 (1.6 at the end of 2010) and gearing 94 per cent (93 at the end of 2010) January-September 2011 * Revenue was EUR 1,129 million (1,081) * EBITDA was EUR 374 million (362), EBIT EUR 216 million (199) * Cash flow after investments was EUR 142 million (144) Key indicators: EUR million 7-9/2011 7-9/2010 1-9/2011 1-9/2010 ------------------------------------------------------------------------------- Revenue 378 363 1,129 1,081 EBITDA 135 127 374 362 EBIT 82 73 216 199 Profit before tax 74 68 193 131 Profit before tax excl. non-recurring items 74 68 193 175 Earnings per share, EUR 0.36 0.32 0.93 0.63 EPS, excl. non-recurring items 0.36 0.32 0.93 0.84 Capital expenditures 45 42 140 127 ------------------------------------------------------------------------------- 1-9/2011 EBITDA excluding non-recurring items EUR 375 million Financial position and cash flow: EUR million 30.9.2011 30.9.2010 31.12.2010 ----------------------------------------------------- Net debt 793 725 776 Net debt / EBITDA (1)) 1.6 1.5 1.6 Gearing ratio, % 94.3 84.2 93.2 Equity ratio, % 43.4 44.8 42.5 ----------------------------------------------------- EUR million 7-9/2011 7-9/2010 1-9/2011 1-9/2010 --------------------------------------------------- Cash flow after investments 56 29 142 144 --------------------------------------------------- (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: Elisa Operational Data Q3 2011.xls. CEO Veli-Matti Mattila:"Elisa delivers a strong result, exceeding four million mobile subscriptions Elisa's earnings grew strongly during the third quarter of 2011, and the company's revenue developed favorably. Despite tough competition, the demand for Elisa's services remained high. Our mobile subscription base grew by more than 100,000 during the third quarter of the year, and we have reached the milestone of four million subscriptions. Elisa Viihde IPTV's strong development has continued and the number of customers has exceeded 100,000. Boosted by new services and service bundles, the number of fixed network broadband subscriptions increased by nearly 8,000. The demand for mobile data services continued to grow rapidly, spurred by the high number of dongle and smartphone users. Customers are also increasingly choosing a monthly data plan so they don't have to worry about the volume of data transfer. In addition, business use of smartphones is on the rise. Elisa introduced the My Invoice (Oma Lasku) service for businesses. The service enables employees to pay for personal purchases and mobile services through their business subscriptions. Personal purchases are invoiced separately through Elisa My Invoice, which can help companies save hundreds of thousands of euros per year by not paying for services unrelated to business. At the same time, the opportunity to use business phones for personal matters increases employee satisfaction. For consumers, Elisa introduced new features and fascinating content through Elisa Viihde, the most innovative IPTV entertainment platform, and the Elisa Kirja e-book service. Elisa Viihde was complemented with a karaoke service that offers a broad selection of Finnish and foreign songs. Finnish comic strips were also made available on smartphones and tablets for the first time through Elisa Kirja. In Finland's 'Best of the Year 2011' customer service competition, Elisa's Consumer Customers unit was awarded the Best Practices honorary mention for investing in continuous development, making full use of customer feedback and providing support for customer service personnel. Concrete measures, such as real-time order monitoring and user-friendly technical support websites, have considerably improved customer service. We will continue our determined work to further improve productivity and customer satisfaction. Elisa creates services that improve productivity and provide enhanced user experiences. Combined with our strong investment capability, this creates a solid foundation for the future." Outlook for 2011 The budget deficits and solvency issues in several European countries have impacted the Finnish economy to some extent. Even though the Finnish economy is among the most stable in Europe, there are still risks inherent to the general economic development. Competition in the Finnish telecommunications market also remains challenging. Full year revenue is estimated to increase slightly from the previous year. The use of mobile communications, especially mobile broadband services and equipment sales, is continuing to rise. In addition, ICT and new online services' revenue will grow. Full year EBITDA, excluding non-recurring items, is expected to improve slightly from the last year. Full-year capital expenditure is expected to be maximum 12 per cent of revenue. In addition to its strong position as a network service provider, Elisa is transforming itself to be able to provide its customers with exciting and relevant new services. Among the factors contributing to long-term growth and profitability improvement is 3G market growth, as well as new online and ICT services. Elisa continues determinedly to employ its efficiency measures. Elisa's financial position and liquidity are good. New disclosure procedure Elisa is now adopting the new disclosure procedure enabled by the Standard 5.2b published by the Finnish Financial Supervision Authority. This is a summary of Elisa's Interim Report for January-September 2011 and the complete report is attached as a pdf-file to this release and is also available on our website at www.elisa.com/investors. ELISA CORPORATION Additional information: Mr Veli-Matti Mattila, CEO, tel. +358 10 262 2635 Mr Jari Kinnunen, CFO, tel. +358 10 262 9510 Mr Vesa Sahivirta, IR Director tel. +358 10 262 3036 Distribution: NASDAQ OMX Helsinki Principal media www.elisa.com [HUG#1556800] |
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