Elisa Oyj Class A · OMXHEX:ELISA
Elisa Oyj Class A — Elisa Oyj Ord A — Q1 2025 Earnings Presentation
21 slides from Elisa Oyj Class A's earnings presentation, Apr 17, 2025
Slide 1: Interim Report Q1 2025
Interim Report Q1 2025 17 April 2025
Slide 2: Q1 2025 highlights
INTERIM REPORT Q1 2025 Q1 2025 highlights • Revenue increased by 4.0%, driven by growth in international software services and an increase in mobile service revenue • Comparable EBITDA up by 4.6% • Mobile service revenue increased by 2.6% • International software services revenue increased by 56.7%,
Slide 3: Good EBITDA growth driven by MSR and efficiency
INTERIM REPORT Q1 2025 Good EBITDA growth driven by MSR and efficiency Revenue Mobile service revenue Revenue, €m YoY change, % Increase MSR, €m YoY change,% • ISS and domestic 2,9% 4,0% 5,8% 4,7% 4,8% • 5G upselling -1,0% 1,6% digital services 4,1% 2,6% -1,6% continuing • Mobile services • Product
Slide 4: Growth continued in all segments
INTERIM REPORT Q1 2025 Growth continued in all segments Consumer Customers Corporate Customers International Software Services Revenue +1.9% Revenue +0.3% Revenue +56.7% + Mobile and fixed services + Mobile services + Acquisitions + Interconnection and roaming + Interconnection and roaming + Compara
Slide 5: Updated strategy
INTERIM REPORT Q1 2025 Updated strategy Our vision We are the global benchmark for generating value in communication and digital services. Our constant pursuit of excellence and innovation makes us better every day. 5
Slide 6: Mobile's success continues, accelerated fiber rollout
INTERIM REPORT Q1 2025 – BUSINESS HIGHLIGHTS Mobile’s success continues, accelerated fiber rollout New mobile services, upsell continues 5G smartphone and speed penetration1) • Started to rollout a new mobile product offering with value-added services, including e.g. mobile ID and DNS filter • Elisa
Slide 7: Solid performance in digital and software services
INTERIM REPORT Q1 2025 – BUSINESS HIGHLIGHTS Solid performance in digital and software services Home Services • New Elisa Viihde original series launched (Ivalo season 4 and Sunset Grove). • Elisa Kotiakku reaches half of Finnish houses (SDUs) with high customer interest and high NPS Corporate IT &
Slide 8: Outlook and guidance for 2025
INTERIM REPORT Q1 2025 Outlook and guidance for 2025 The development of the general economy includes many uncertainties. Growth in the Finnish economy is expected to be weak. In particular, there is continuing uncertainty in global supply chains relating to Russia’s war in Ukraine and other conflict
Slide 9: Financial review Q1 2025
Nise Financial review Q1 2025
Slide 10: Solid revenue and earnings growth
INTERIM REPORT Q1 2025 Solid revenue and earnings growth EUR million1 Q1/25 Q1/24 Change % 2024 Q1 2025 YoY revenue change +€21m Revenue 555.8 534.5 21.3 4.0% 2,191 1 1 Other operating income 1.6 0.7 0.9 126.8 % 6 Materials and services -189.0 -185.2 -3.8 2.1% -784 Employee expenses -116.3 -109.7 -6
Slide 11: Growth and profitability improved in Estonia
INTERIM REPORT Q1 2025 Growth and profitability improved in Estonia • Revenue increased by EUR 2m, +4% Revenue Revenue, €m YoY change, % • Positively impacted by mobile and fixed service revenue • EBITDA increase of 7% -5,0% 9,4% -4,1% -4,8% 3,9% • Fuelled by service revenue growth • Despite inflati
Slide 12: CAPEX in line with guidance
INTERIM REPORT Q1 2025 CAPEX in line with guidance • CAPEX: €72m (68), excl. licences, lease CAPEX1) agreements and acquisitions: €65m (58) CAPEX / sales1 % 15% 14% 14% 11% 12% • Consumer Customers €47m (43) • Corporate Customers €25m (25) • International Software Services €1m (0) 81 77 80 58 65 Q1/
Slide 13: Stable cash flow
INTERIM REPORT Q1 2025 Stable cash flow • Comparable cash flow: €82m (86), decrease 4% Cash flow and comparable cash flow, €m + Higher EBITDA, positive NWC change, lower taxes Comparable 111 - Higher CAPEX and interest costs 94 86 82 66 76 95 77 62 23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Cash conversion Ch
Slide 14: Efficient capital structure and good returns
INTERIM REPORT Q1 2025 Efficient capital structure and good returns • Capital structure according to target Net debt Net debt, €m Net debt / EBITDA • Net debt / EBITDA: 1.8× (target 1.5–2×) 1,7 1,7 1,7 1,9 1,8 • Equity ratio: 41.6% (target >35%) 1 473 1 409 1 219 1 276 1 304 • Return ratios at good
Slide 15: Competitive remuneration continues
INTERIM REPORT Q1 2025 Competitive remuneration continues Dividend • AGM decision dividend of €2.35 per share Dividend per share, € Pay-out ratio1, % Dividend YoY growth • Two instalments: €1.18 and €1.17 98% 94% 92% 93% 96% 95% 95% 92% 96% 100% 89% 90% • Dividend growth: +4.4% 5.4% 5,1% 4.9% 4.7% 4
Slide 16: Q&A
Q&A
Slide 17: P&L by quarter
APPENDIX P&L by quarter EUR million Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Q3/23 Q2/23 Q1/23 Revenue 555.8 579.7 535.9 541.4 534.5 563.3 544.7 532.7 539.7 YoY growth 4.0% 2.9% -1.6% 1.6% -1.0% 0.1% 2.0% 2.2% 5.5% Other operating income 1.6 2.6 1.1 1.8 0.7 2.4 1.7 1.3 4.5 Materials and services -189.0 -
Slide 18: Cash flow YoY comparison
APPENDIX Cash flow YoY comparison EUR million Q1/25 Q1/24 Change 1) % 2024 EBITDA 195 180 15 8% 767 Change in receivables 51 48 2 5% 30 Change in inventories 1 1 0 3% 6 Change in payables -49 -49 0 -1% -20 Change in NWC 4 1 3 267% 16 Financials (net) -18 -12 -6 46% -27 Taxes for the year -21 -21 0 1
Slide 19: Cash flow by quarter
APPENDIX Cash flow by quarter EUR million Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Q3/23 Q2/23 Q1/23 EBITDA 195 191 206 190 180 191 199 183 183 Change in receivables 51 -60 38 3 48 -53 0 7 44 Change in inventories 1 2 2 0 1 8 0 7 0 Change in payables -49 45 -28 12 -49 46 7 8 -59 Change in NWC 4 -13 12 15
Slide 20: Debt structure
APPENDIX Debt structure EUR million at the end of the quarter Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Q3/23 Q2/23 Q1/23 Bonds and notes 896 896 895 895 894 1,141 1,140 894 893 Commercial papers 312 307 191 230 183 35 152 241 159 Credit facility 0 50 0 40 70 0 70 100 0 Loans from financial institutions 2
Slide 21: Contacts
Contacts Mr Vesa Sahivirta Ms Kati Norppa Forward-looking statements: Statements made in this document relating to the future, vesa.sahivirta@elisa.fi kati.norppa@elisa.fi including future performance and other trend projections, are forward-looking statements. By their nature, forward-looking state