Here is a pre-earnings report from Joni, as Elisa reports its Q1 results on Tuesday, April 21. 
Elisa will publish its Q1 interim report on Tuesday, April 21, 2026, and the company’s earnings release can be followed here at 12:00 PM. We expect the company’s revenue growth to have remained moderate and earnings performance to have been supported by the cost-savings program, which has reached full scale during the early part of the year. In the report, our interest is focused especially on the competitive situation in the mobile market and whether the talk from the start of the year about easing competition has been reflected in the stabilization of price pressure and customer churn. Following the share price rise, the most obvious undervaluation has dissipated, and we are lowering our recommendation to Accumulate (prev. Buy). At the same time, we reiterate our target price of EUR 44.0.