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Finnish telecoms firm Elisa posts best-ever annual result

Elisa's full-year earnings grew to 384 million euros in 2017 from 349 million the previous year.

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Image: Armando Babani / EPA

Finnish telecommunications group Elisa said on Wednesday that its full-year earnings for 2017 rose to the highest ever figure in the company’s history. Last year, Elisa’s earnings were 384 million euros, up from 349 million in 2016.

Elisa’s CEO Veli-Matti Mattila said the company’s profit grew due to an increase in mobile service revenue, investments in productivity and recent acquisitions.

The company also reported a boost to its full-year revenue from 1.64 billion euros to 1.79 billion in 2017. Mattila said investments in expanding the 4G network have made Elisa a pioneer in the use of mobile data with its network carrying the fifth most mobile data in Europe.

Mattila warned however that competition in the Finnish telecommunications market remains challenging going forward.

Elisa also announced it will pay a dividend of 1.65 euros per share.

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