@Joni_Gronqvist has been hard at work on a new report following the earnings results, concluding with a “cautious Accumulate”: Elisa Q3'26: Paluu kasvu-uralle on keskeistä - Inderes
Testing the bounds of good taste here, let’s add an AI-assisted summary from the beginning of the report:
- Elisa’s Q3 report showed that revenue remained at the comparison period’s level at EUR 561M, and adjusted EBITDA fell slightly to EUR 210M, which was in line with forecasts.
- The outlook for next year is better, with the macroeconomy expected to support the Corporate Customers segment in particular, which is key to returning to a sustainable growth trajectory.
- We expect only modest earnings growth in the coming years, with key drivers being 5G upselling, international software services, AI-driven efficiency potential, and the cost savings program.
- The stock’s valuation is below historical averages, but the expected return exceeds the cost of equity, supporting a positive view on the stock.