Improving cash flows, but still pricey

More to give

Going for accelerated growth

Elisa Oyj: 1 director

A director at Elisa Oyj sold 20,000 shares at 41.546EUR and the significance rating of the trade was 95/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showi...

IDS delivering, reassuring MSR guidance

Elisa (Hold, TP: EUR45.00) - Uncertainties in Mobile market

Elisa reported about in line with consensus on revenue and EBITDA, but a high Mobile churn in Finland together with slower MSR growth YOY is causing concern. We reiterate our HOLD and have cut our target price to EUR45 (47).

Strong IDS, higher churn

Elisa (Hold, TP: EUR47.00) - Still expect pressure on top line

We forecast muted revenue growth in Q4, in line with consensus. However, IDS should show solid organic growth. Guidance is likely to be cautious. We prefer Telia and Tele2 over Elisa, and reiterate our HOLD. We have lowered our target price to EUR47 (48).

Growth uncertainty as inflation tapers off

Top class, small premium

Expert speaker takeaways: ARPU and capex plans

Elisa (Hold, TP: EUR48.00) - sedApta acquisition neutralised Q3

The Q3 report was on the weak side, in our opinion, with revenues 3% below consensus. We have trimmed our underlying estimates, which is offset by the acquired sedApta business. We reiterate our HOLD and EUR48 target price.

Margin resilience, capex remains elevated

Solid EBITDA but higher capex

Valuation uplift has materialised - HOLD

Solid Q2 with accelerating EBITDA growth

Q2 delivered healthy MSR growth of 5% and improving IDS supporting op. leverage; EBITDA growth accelerating 4 Q's in a row. Limited changes to outlook - keep BUY.

Elisa (Hold, TP: EUR45.00) - Small top-line deviation explained by B2B...

Elisa (ELISA FH, Hold) - Small top-line deviation explained by B2B contract (23 pages)

In line, but accelerating EBITDA growth

Elisa (Hold, TP: EUR45.00) - Q2e set to improve versus Q1

We expect a slight revenue growth improvement in Q2 YOY versus Q1, driven by IDS, and further recovery in the full year. We are roughly in line with consensus, and reiterate our HOLD and EUR45 target price.

Declining premium creates good entry

Q2e solid as usual, comp. EBITDA up 3% y-o-y. Operational superiority remains, but the premium is shrinking. This is creating a great entry at 5.5% div.yield and >4% DPS CAGR.