Elisa (ELISA) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue grew 2.9% year-over-year to €580 million, driven by international digital services (IDS) and mobile service revenue.

• Comparable EBITDA rose 3.3% year-over-year to €198 million, with mobile service revenue up 4.1% and strong IDS performance.

• Full-year revenue reached €2,191 million (+0.5%), with record comparable EBITDA of €783 million and comparable EPS at €2.35.

• Major acquisitions in 2024 included sedApta Group, Leanware Oy, Moontalk Oy, and fiber network assets, strengthening digital and industrial software offerings.

• Board proposes a dividend of €2.35 per share for 2024, to be paid in two instalments, marking the 11th consecutive annual increase.

Financial highlights

• Q4 revenue: €580 million (+2.9% YoY); full-year revenue: €2,191 million (+0.5% YoY).

• Q4 comparable EBITDA: €198 million (+3.3% YoY); full-year: €783 million (+3.6% YoY).

• Q4 EPS: €0.58 (-5.5% YoY); full-year EPS: €2.35 (-0.9% YoY).

• CapEx: €92 million in Q4; €338 million for the year (13% of revenue).

• Comparable cash flow after investments: €66 million in Q4, €357 million for the year (-1% YoY).

Outlook and guidance

• 2025 revenue and comparable EBITDA expected at or slightly above 2024 levels.

• CapEx to sales ratio guided at 12% for 2025.

• Double-digit organic growth expected in IDS for 2025, with positive EBITDA for the full year.

• Mobile service revenue growth guided at mid-single digits, with Q1 slower and acceleration expected through the year.

• Dividend policy remains at 80–100% of net profit.