Solid financial results, strategy implementation to be accelerated with transformation programme

In the third quarter, revenue grew by 5 per cent to EUR 561 million. EBITDA improved by 4 per cent to EUR 214 million, driven by mobile and international software service revenue as well as fixed service revenue, which turned to growth during the quarter. Comparable cash flow grew by 12 per cent, driven by growing EBITDA, a positive change in net working capital and strict CAPEX discipline.  

As we announced today, we have decided to launch a transformation programme to simplify our operations and to increase our productivity in line with the strategy of faster profitable growth presented at the Capital Markets Day in March 2025. The transformation programme is designed to accelerate the execution of our strategy. At the same time, we are taking swift action to improve our competitiveness in the current market environment.

During the quarter, competition in the Finnish consumer mobile market became more intense most notably in lower-speed-tier 4G subscriptions, resulting in elevated churn. However, mobile service revenue growth was solid at 3.3 per cent, supported by 5G upselling and the updated security features offering. The growth in fixed service revenue was driven by improved demand for enterprise network services and the continued strong growth of fiber broadband. In the International Software Services segment, we saw growth boosted by mergers and acquisitions, even though tariff-related uncertainties have resulted in some delays in customer projects. 

Around 600,000 customers are already using our updated consumer customer voice subscriptions with additional security features. These changes in our offering have improved mobile security in Finland overall. For example, the number of people using Mobile ID has increased by 70 per cent in the last 12 months. We also introduced a new feature allowing customers to block suspicious incoming calls from foreign numbers, which is already making scammers’ methods less effective. 

Strong demand for cybersecurity services is continuing among corporate customers. Kesko, one of the biggest trading sector operators in Northern Europe, chose Elisa as its provider for cybersecurity services and resilience in Finland, the Nordics and Baltics, and Poland.

We have also continued our long-term work to promote digital wellbeing among children and young people. In October, more than 95,000 middle school students participated in our Super Digischool. This year’s topics were digital scams in the age of AI, online bullying and digital safety for young people.

We are strongly committed to our strategy of faster profitable growth, creating customer value by being a frontrunner in technology, and continuously improving our competitiveness, productivity and quality.

Topi Manner

CEO