ELMUY - Elisa Oyj (ELMUF) Q2 2024 Earnings Call Transcript
2024-07-16 12:35:26 ET
Elisa Oyj (ELMUF)
Q2 2024 Earnings Conference Call
July 16, 2024 5:00 am ET
Corporate Participants
Vesa Sahivirta - Head, Investor Relations
Topi Manner - Chief Executive Officer
Jari Kinnunen - Chief Financial Officer
Conference Call Participants
Sami Sarkamies - Danske Bank
Andrew Lee - Goldman Sachs
Ondrej Cabejsek - UBS
Oscar Rönnkvist - ABG Sundal Collier
Titus Krahn - Bank of America
Nick Lyall - Bernstein
Jakob Bluestone - BNP Paribas Exane
Siyi He - Citi
Adam Fox-Rumley - HSBC
Ajay Soni - JPMorgan
Felix Henriksson - Nordea
Usman Ghazi - Berenberg
Presentation
Vesa Sahivirta
Good morning, everyone, and welcome to Elisa's Second Quarter 2024 Interim Report Analyst Meeting and Conference Call. I'm Vesa Sahivirta, Head of Investor Relations. And now we have quite a valiant team, CEO, Topi Manner for the second time; and CFO, Jari Kinnunen, who has been here quite many times.
And regarding one milestone, I just want to say that this is 100th interim report at Elisa for me. And last 41 of those actually has been the best ever in company's history in a year-to-year comparison. So quite a great continuous improvement indeed.
But now to the agenda of the day, we start the presentation, followed by Q&A. And Topi will start the presentation. So I'll give the word to Topi. Please go ahead.
Topi Manner
Thank you, Vesa, and good day, everybody. And by the way, Vesa, congratulations for the 100th quarterly report. That's quite amazing, I must say. And also, the 41 quarters of improving results for Elisa, that is certainly noteworthy as well.
So thank you, everybody, for joining this Q2 call of Elisa. The main headline for our second quarter this time is that our earnings continued to develop well, and we also started to see improving performance on the B2B side of the business, which, as you would remember, in our case, includes our home market corporate business, both in Finland and in Estonia, and then the International Digital Services part of the organization, which separately enjoyed a revenue growth of 21% on a year-on-year basis during the quarter.
So looking at the Q2 highlights, our revenue increased by 2% and EBITDA was up by 4%. So if you would be looking on the decimal basis, then the EBITDA improved with a couple of decimals in comparison to Q1.
Mobile service revenue increased by 4.7%, so in line of our mid-single-digit growth expectation for the mobile service revenue. As stated, we saw improving signals and improving performance in business-to-business side of the business. And also the B2C segment continued to develop strongly.
In International Digital Services, the revenue increased by 21% as mentioned that was boosted by the small bolt-on M&A that we have been doing during the first part of the year. If we look at the organic growth for IDS on a year-on-year basis that improved to 7%. And we reiterate our target of double-digit organic growth for IDS during the full year of 2024....
Elisa Oyj (ELMUF) Q2 2024 Earnings Call Transcript