Elisa Oyj Class A · OMXHEX:ELISA
Elisa Oyj Class A — Investor Day (2025)
16 slides from Elisa Oyj Class A's investor day presentation, 2025
Slide 1: Financial overview
Financial overview Faster Profitable Growth Jari Kinnunen CFO
Slide 2: New reporting segment: International Software Services
Reporting changes New reporting segment: International Software Services Change in segment reporting adds transparency • International Software Services segment starting Q1 2025 • Comparable figures for 2024 published in data Excel worksheet1 • Revenue seasonality in software services – first & last
Slide 3: Performance update, Achieving medium-term targets, Capital allocation, CFO priorities
1 Performance update 2 Achieving medium-term targets 3 Capital allocation 4 CFO priorities
Slide 4: Elisa's unique strategy yields consistent results
Performance update Elisa’s unique strategy yields consistent results Set of choices Revenue growth >10 years in a row Steady growth in operating cash flow Ten-year CAGR: +3.8% Ten-year CAGR: +4.2% • Market-leading position in home markets • Customer-focused approach • Culture of excellence 2015
Slide 5: Industry-leading ROCE
Performance update Industry-leading ROCE Revenue growth (CAGR) 2022–2024 EBITDA growth (CAGR) 2022–2024 1.4% 3.2% 1 Peer group median 2.2% Peer group median 2.4% Average operating cash flow conversion 2022–2024 Average ROCE 2022–2024 63.0% 18.5% Peer group median 50.0% Peer group median 9.3% (Compar
Slide 6: Growth targets raised
Achieving medium-term targets Growth targets raised Medium-term targets 2022–2025 2024–2027 Revenue growth >2% >4% CAGR EBITDA growth >3% >4% CAGR CAPEX-to-sales ≤12% ≤12% Net debt / EBITDA 1.5–2× 1.5–2× Equity ratio >35% >35% Profit distribution policy Pay-out 80–100% of net result Pay-out 80–100%
Slide 7: High-quality service revenues set for faster profitable growth…
Achieving medium-term targets High-quality service revenues set for faster profitable growth… EURm Share of CAGR Medium-term levers 2024 revenue 2024 2022–2024 for 2024–2027 Service revenues 1,770 81% 3% Mobile services 1,009 46% 5% Upsell, value-added services, product changes & pricing Fixed servi
Slide 8: …together with our proven capability for improving productivity…
Achieving medium-term targets …together with our proven capability for improving productivity… Culture of continuous improvement >20% growth in total data transferred in networks with • Sharp procurement flat network OPEX • Right-shoring, selective in-/outsourcing >20% AI-generated code Simplifying
Slide 9: …result in faster EBITDA growth
Achieving medium-term targets …result in faster EBITDA growth Faster revenue growth Simplicity & productivity Additional lever for increasing EBITDA • 5G & fiber upsell • Culture of continuous • International Software Services • Home services improvement positive contribution to EBITDA • Corporate I
Slide 10: Disciplined 12% CAPEX-to-sales and M&A policy
Capital allocation Disciplined 12% CAPEX-to-sales and M&A policy Strict CAPEX management CAPEX-to-sales clearly better than peers • Customer demand-driven approach 20% • Continuous prioritisation & reallocations • Value creation focus 15% Disciplined, value-driving M&A 10% • Organic growth ambition
Slide 11: Growing EBITDA converts to cash flow growth
Capital allocation Growing EBITDA converts to cash flow growth Free cash flow breakdown 2024, EURm Indicative Cash flow levers direction in 2025 Strong path to >4% EBITDA growth (CAGR) EBITDA 767 in 2025–2027 305 Lower CAPEX-to-sales CAPEX No licence cash outflow expected Taxes, interest Less negati
Slide 12: Strong balance sheet intact
Capital allocation Strong balance sheet intact Solid capital structure supports growth Elisa ratings Unchanged capital structure targets S&P Global Ratings BBB+ (stable) • Net debt / EBITDA 1.5–2.0× Moody’s Ratings Baa2 (stable) • Equity ratio >35% Net debt / EBITDA development Ratings development 3
Slide 13: Best-in-class profit distribution
Capital allocation Best-in-class profit distribution Distribution policy reiterated Increasing dividend for 11 consecutive years • Payout ratio 80–100% Ten-year CAGR: +5.9% • Excess capital can be distributed to shareholders 2,351 2,25 • Decision-making criteria 2,05 2,15 1,95 – Company’s financia
Slide 14: Faster profitable growth
Management priorities Faster profitable growth Customer-focused value creation… Supporting revenue growth • Driving resource reallocation to growth • Focus on high-quality service revenues 5G & Fiber Home Corporate International Driving profitability Upsell Services IT & Cyber Software Services • Si
Slide 15: | CMD
| CMD Wise | 5095
Slide 16: Forward-looking statements disclaimer
Certain information and statements in this presentation, including those related to future performance and other trend projections, contain "forward-looking statements". By their nature, forward-looking statements involve unknown risks and uncertainties because they relate to events and depend on ci