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 and mobile service revenue increases.

• Comparable EBITDA rose 3.3% in Q4; full-year EBITDA reached a record €783 million.

• International digital services revenue surged 77% in Q4, with full-year double-digit organic growth, supported by the sedApta acquisition.

• Board proposes a dividend of €2.35 per share for 2024, marking the 11th consecutive year of increases.

• Strategic focus remains on 5G, fiber, digital services, and cost efficiency, with AI-driven productivity improvements planned for 2025.

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 comparable EPS: €0.58; full-year comparable EPS: €2.35.

• CapEx to sales ratio at 13% for 2024, with plans to return to 12% in 2025.

• Net debt/EBITDA at 1.9x; equity ratio 38.7%; return on equity 29%.

Outlook and guidance

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

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

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

• IDS segment expected to deliver double-digit organic growth and positive EBITDA for the full year.

• Dividend policy remains at 80–100% of net profit; Board proposes €2.35 per share for 2024.