Estonian telecom companies made millions in profits in nine months

A Huawei-made smartphone .
A Huawei-made smartphone . Source: Huko Aaspõllu/ERR

Telia, Elisa and Tele2 have made public their financial reports for the first nine months of this fiscal year: Telia Estonia earned more than €106 million in operational profit and Tele2 earned €19.15 million in profit from operations before taxes. The Elisa Group did not provide a detailed profit report for Elisa Estonia.

Telia Estonia's revenue was €266.5 million in the first nine months of this year, with an operating profit of €106.3 million euros. The corporation invested €32 million of this profit in the development of communications networks and services.

Telia has prioritized the closing of its 3G network and the construction of its 5G network in mobile services this year. By the end of this year, the entire 3G network will be shut down, and the resources freed up will be used to expand newer 4G and 5G networks.

Telia's mobile subscriptions grew by 38,000 over the year to 1.259 million at the end of the third quarter. Telia's fixed internet subscribers totaled 274,000 at the end of the quarter, while the number of Telia TV customers reached 195,000.

Tele2 Estonia's turnover for the first nine months of this year was €63.22 million, compared to €63.17 million in the same period last year.

The nine-month pre-tax operating profit of Tele2 increased year-over-year from €18.86 million to €19.15 million.

"Understandably, consumer behavior is influenced by the state of the economy. This is especially so for big investments like the purchase of new equipment, which is included in overall turnover," Tele2 CFO Kertu Leppik, said.

Tele2 counts end-consumer turnover separately as well, which includes packages and other Tele2 services, and this climbed by 7 percent this year.

Tele2 allocated the majority of the €13 million it invested in its Estonian operations over the course of nine months towards the development of the 5G network, an effort intended to improve efficiency and reliability its services.

Elisa's nine-month turnover was €165.3 million. The Elisa Group's total nine-month turnover was €545 million and operating profit before expenses was €199 million.

Elisa's strategic objective in Estonia was to not only expand 5G coverage but also develop a fiber network.


Follow ERR News on Facebook and Twitter and never miss an update!

Editor: Karin Koppel, Kristina Kersa

Hea lugeja, näeme et kasutate vanemat brauseri versiooni või vähelevinud brauserit.

Parema ja terviklikuma kasutajakogemuse tagamiseks soovitame alla laadida uusim versioon mõnest meie toetatud brauserist: