Elisa Oyj Ord A (ELMUF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to ELISA's first quarter 2026 conference call. We start with a presentation given by CEO Topi Manner and CFO Christian Pullola. And after that, we move on to Q&A. And I think we are ready to start. And I give word to Topi, please go ahead. Thank you, Vesa, and good day, everybody. Welcome to this ELISA Q1 earnings call. And let's get right down to business and briefly go through the Q1 highlights. During the quarter, our revenue decreased by 1.3%, and this was to a large extent driven by lower equipment sales, impacted especially by higher device prices due to the shortages of memory chips worldwide. Telecom service revenue increased by 0.5% driven by fixed service revenue. The mobile service revenue declined by 0.1% as the full impact of intense campaigning in Q4 was visible in the MSR. International software services revenue increased by 6.9%. During the quarter, however, we sold a small software business in Brazil. Adjusting for this, the comparable organic revenue growth was 7.7% in Elisa Industry. Comparable EBITDA on group level increased by 2.2%, especially driven by our cost efficiency measures. Cash flow continued to develop strongly during the quarter and increased by 15.7%. What was notable during the quarter was that the churn decreased to 17.2% from 23% level of Q4. So this 6% unit decrease in churn is... a bigger decrease than the typical seasonality would be. Postpaid voice subscriptions decreased by 2,700, and in the fixed broadband subscription base, we experienced strong growth, 14,000, on the back of the strong customer demand that we are seeing on the market. The transformation program where we are targeting 40 million euros of course savings during the calendar year of 26 is progressing well according to the pl...