Elisa Charts Record Growth, Fuels Sustainable Future with NIB Loan
February 1, 2026, 9:37 pm
Location: Finland, Mainland Finland, Helsinki
Employees: 51-200
Founded date: 1976
Elisa concluded 2025 with robust financial performance. The telecom giant reported record annual revenue, EBITDA, and cash flow. Strategic moves included a EUR 200 million sustainability-linked loan from the Nordic Investment Bank. This financing directly supports Elisa's ambitious 2040 net-zero emissions target and broadens high-speed internet access across Finland and Estonia. Elisa faces intense market competition, actively implementing a transformation program for efficiency. The company forecasts continued growth and plans significant shareholder returns for 2026, solidifying its market position and commitment to a sustainable digital future.
Helsinki-based telecommunications leader Elisa posted an exceptional 2025. The company delivered record-breaking financial results. Elisa also underscored its deep commitment to sustainability. Strategic financial maneuvers are aligning corporate growth with environmental and social responsibility. This twin focus defines Elisa’s forward trajectory.
Elisa’s 2025 financial performance was stellar. Full-year revenue climbed to EUR 2.257 billion. This marked a 3.0 percent increase from 2024. Comparable EBITDA reached an all-time high of EUR 808 million. This represented a 3.2 percent rise. Comparable EBIT also hit a record at EUR 512 million, up 1.5 percent. These figures demonstrate consistent, profitable growth across Elisa’s operations.
The fourth quarter of 2025 also showed strength. Revenue grew by 1.5 percent to EUR 588 million. Mobile services and international software services primarily drove this expansion. Equipment sales also contributed significantly. Comparable EBITDA remained stable at EUR 198 million. Cash flow saw a substantial surge. Comparable cash flow increased by 37.6 percent to EUR 91 million. This strong cash generation reflects effective capital discipline and operational efficiency.
Subscription trends presented a mixed picture. Mobile post-paid subscriptions saw a slight decrease of 2,200. However, the M2M and IoT subscription base expanded robustly. It grew by 18,800 during the quarter. Fixed broadband subscriptions also increased by 6,000. Prepaid subscriptions, conversely, declined by 9,100. Despite intense competition in Finland’s consumer mobile market, Elisa maintained its market share in consumer voice subscriptions. This highlights the resilience of Elisa’s core telecom business.
Elisa is actively adapting to market dynamics. A significant transformation program launched in Q4 2025. This initiative aims to simplify operations and boost productivity. It targets annual cost savings of EUR 40 million starting in 2026. Personnel reductions of 357 were part of this strategic realignment. Further steps include optimizing outsourced services and improving procurement efficiency. Elisa remains focused on faster profitable growth.
Innovation and customer value remain central to Elisa’s strategy. The company is a frontrunner in technology adoption. 5G upselling continued strongly in mobile services. Demand for fiber optic connections also remained robust. Elisa enhances its cybersecurity capabilities. Its fraud call prevention service earned the European Crime Prevention Award. A new "Who’s Calling" service, displaying caller names, launched to positive reception. These developments underscore Elisa’s commitment to secure and user-friendly digital services.
Elisa's critical role in Finland’s and Estonia’s infrastructure is paramount. A submarine cable break at year-end exemplified this. Elisa’s network design prevented any service disruption. Multiple redundant routes ensured seamless operations. This showcases the robustness and reliability of Elisa’s telecommunications network.
Beyond core telecom services, Elisa Industriq demonstrated strong progress. The business achieved EBITDA positivity for the full year 2025. It secured a strategic partnership with a leading telecom group operating across Asia and MENA. This expands Elisa's international software services footprint. This segment contributes meaningfully to overall revenue growth.
Elisa’s commitment to sustainability is unwavering. The company secured a new EUR 200 million sustainability-linked loan from the Nordic Investment Bank (NIB). This 8-year agreement was signed in December 2025. It extends Elisa’s loan portfolio maturity and optimizes financing costs. The loan’s interest margin is directly tied to key sustainability targets.
These targets are ambitious. Elisa aims for a 42 percent reduction in absolute Scope 1, 2, and selected Scope 3 GHG emissions by 2031. The baseline year is 2021. This goal aligns with Elisa’s broader target of achieving net-zero emissions by 2040. Another crucial target focuses on social impact. Elisa seeks to decrease the population without high-speed connections to 1 percent by 2031. This applies to both mobile and fixed connections with a minimum speed of 100 Mbps in Finland and Estonia. The NIB loan directly supports these environmental and social objectives. It promotes regional equality in connectivity and accelerates emission reductions.
Looking ahead, Elisa projects continued growth for 2026. The economic environment presents uncertainties. Growth in the Finnish economy has been weak. Competition in the Finnish telecommunications market remains intense. Despite these challenges, Elisa expects full-year revenue to be at the same level or slightly higher than in 2025. Comparable EBITDA is forecasted between EUR 815–845 million. Capital expenditure is estimated at 12 percent of revenue. This outlook assumes a gradual economic improvement. It also anticipates 1–3 percent growth in telecom service revenue. International software services are projected for over 10 percent organic revenue growth. Mobile service revenue is expected to be a primary driver of telecom service expansion.
Elisa also announced plans for shareholder returns. The Board proposes a dividend authorization of EUR 2.40 per share. This represents 80-100 percent of the previous fiscal year’s net profit. The dividend is planned for distribution in four installments. The first installment is set for April 15, 2026. Additional installments are scheduled throughout 2026 and early 2027. The Board also proposes authorization to acquire a maximum of five million treasury shares. This equates to 3 percent of the total shares. These actions reflect Elisa’s strong financial health and confidence in future performance. Elisa continues to create value for its shareholders. It also reinforces its commitment to a sustainable and connected future.
Helsinki-based telecommunications leader Elisa posted an exceptional 2025. The company delivered record-breaking financial results. Elisa also underscored its deep commitment to sustainability. Strategic financial maneuvers are aligning corporate growth with environmental and social responsibility. This twin focus defines Elisa’s forward trajectory.
Elisa’s 2025 financial performance was stellar. Full-year revenue climbed to EUR 2.257 billion. This marked a 3.0 percent increase from 2024. Comparable EBITDA reached an all-time high of EUR 808 million. This represented a 3.2 percent rise. Comparable EBIT also hit a record at EUR 512 million, up 1.5 percent. These figures demonstrate consistent, profitable growth across Elisa’s operations.
The fourth quarter of 2025 also showed strength. Revenue grew by 1.5 percent to EUR 588 million. Mobile services and international software services primarily drove this expansion. Equipment sales also contributed significantly. Comparable EBITDA remained stable at EUR 198 million. Cash flow saw a substantial surge. Comparable cash flow increased by 37.6 percent to EUR 91 million. This strong cash generation reflects effective capital discipline and operational efficiency.
Subscription trends presented a mixed picture. Mobile post-paid subscriptions saw a slight decrease of 2,200. However, the M2M and IoT subscription base expanded robustly. It grew by 18,800 during the quarter. Fixed broadband subscriptions also increased by 6,000. Prepaid subscriptions, conversely, declined by 9,100. Despite intense competition in Finland’s consumer mobile market, Elisa maintained its market share in consumer voice subscriptions. This highlights the resilience of Elisa’s core telecom business.
Elisa is actively adapting to market dynamics. A significant transformation program launched in Q4 2025. This initiative aims to simplify operations and boost productivity. It targets annual cost savings of EUR 40 million starting in 2026. Personnel reductions of 357 were part of this strategic realignment. Further steps include optimizing outsourced services and improving procurement efficiency. Elisa remains focused on faster profitable growth.
Innovation and customer value remain central to Elisa’s strategy. The company is a frontrunner in technology adoption. 5G upselling continued strongly in mobile services. Demand for fiber optic connections also remained robust. Elisa enhances its cybersecurity capabilities. Its fraud call prevention service earned the European Crime Prevention Award. A new "Who’s Calling" service, displaying caller names, launched to positive reception. These developments underscore Elisa’s commitment to secure and user-friendly digital services.
Elisa's critical role in Finland’s and Estonia’s infrastructure is paramount. A submarine cable break at year-end exemplified this. Elisa’s network design prevented any service disruption. Multiple redundant routes ensured seamless operations. This showcases the robustness and reliability of Elisa’s telecommunications network.
Beyond core telecom services, Elisa Industriq demonstrated strong progress. The business achieved EBITDA positivity for the full year 2025. It secured a strategic partnership with a leading telecom group operating across Asia and MENA. This expands Elisa's international software services footprint. This segment contributes meaningfully to overall revenue growth.
Elisa’s commitment to sustainability is unwavering. The company secured a new EUR 200 million sustainability-linked loan from the Nordic Investment Bank (NIB). This 8-year agreement was signed in December 2025. It extends Elisa’s loan portfolio maturity and optimizes financing costs. The loan’s interest margin is directly tied to key sustainability targets.
These targets are ambitious. Elisa aims for a 42 percent reduction in absolute Scope 1, 2, and selected Scope 3 GHG emissions by 2031. The baseline year is 2021. This goal aligns with Elisa’s broader target of achieving net-zero emissions by 2040. Another crucial target focuses on social impact. Elisa seeks to decrease the population without high-speed connections to 1 percent by 2031. This applies to both mobile and fixed connections with a minimum speed of 100 Mbps in Finland and Estonia. The NIB loan directly supports these environmental and social objectives. It promotes regional equality in connectivity and accelerates emission reductions.
Looking ahead, Elisa projects continued growth for 2026. The economic environment presents uncertainties. Growth in the Finnish economy has been weak. Competition in the Finnish telecommunications market remains intense. Despite these challenges, Elisa expects full-year revenue to be at the same level or slightly higher than in 2025. Comparable EBITDA is forecasted between EUR 815–845 million. Capital expenditure is estimated at 12 percent of revenue. This outlook assumes a gradual economic improvement. It also anticipates 1–3 percent growth in telecom service revenue. International software services are projected for over 10 percent organic revenue growth. Mobile service revenue is expected to be a primary driver of telecom service expansion.
Elisa also announced plans for shareholder returns. The Board proposes a dividend authorization of EUR 2.40 per share. This represents 80-100 percent of the previous fiscal year’s net profit. The dividend is planned for distribution in four installments. The first installment is set for April 15, 2026. Additional installments are scheduled throughout 2026 and early 2027. The Board also proposes authorization to acquire a maximum of five million treasury shares. This equates to 3 percent of the total shares. These actions reflect Elisa’s strong financial health and confidence in future performance. Elisa continues to create value for its shareholders. It also reinforces its commitment to a sustainable and connected future.