Elisa Profits Up on Lower Revenues

Finnish telco, Elisa has reported second quarter revenues of EUR355 million (US$501 million), down on the EUR372 million (US$525 million) a year ago. However, profit before tax rose to EUR56 million (US$79 million) from EUR38 million (US$54 million) a year ago. 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.

CEO Veli-Matti Mattila said "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."

"We continued to build our 3G network, which has the best coverage in Finland. The network currently covers an area of almost five million inhabitants."

Posted to the site on 17th July 2009