Elisa Oyj Stock Earnings Reports

Elisa reported Q2 2026 revenue of EUR 551m (essentially flat YoY) with comparable EBITDA up ~1.4% to EUR 201m and margin improving to 36.5%, driven by cost savings and its transformation program. Telecom service revenue declined (~0.8%) as mobile service revenue remained weighed down by last year’s intense competition and an unexpectedly large share of fixed‑term (12‑month) competitor contracts that delay the revenue benefit from improved market pricing; management expects the positive revenue impact to be more visible in Q4. Fixed service revenue grew (2.2%), fixed broadband/net adds improved (+3,500), mobile post‑paid churn normalized to 16.7% and mobile post‑paid net adds were +21k (15k IoT/M2M). International software (Elisa Industriq) had only 0.6% comparable organic revenue growth; management says deals were postponed not lost, backlog/order intake strengthened, and specific measures are being launched to improve profitability (expecting 5–10% revenue growth for the calendar year in this unit). The group declared the second quarterly dividend of EUR 0.60 (payable 29 July). CapEx was EUR 72m in Q2 and Elisa maintains strict CapEx discipline (main areas: 5G, fiber, IT); data center connectivity emerged as a new, long‑term opportunity with first large deals signed—CapEx for those deals will be outside the company’s 12% CapEx envelope and management expects attractive returns and positive cashflow/EPS contribution over time. Balance sheet remains strong (net debt/EBITDA ~1.8x, equity ratio ~39%, S&P and Moody’s reaffirmed ratings). Guidance for 2026 remains unchanged: revenue around flat or slightly higher than 2025 and comparable EBITDA EUR 815–845m. Management highlighted continued focus on cost control, working capital improvement and AI/productivity initiatives.