Combined turnover of €671 million for 3 leading telecommunications firms in 2024

Although the total turnover of Telia, Elisa and Tele2 was slightly lower last year than in 2023, the three companies reported a combined turnover of €671 million for 2024.
The turnover of Telia, Estonia's largest telecoms company, which is Swedish-owned, was €359.7 million last year, down 0.4 percent compared to 2023.
The turnover of the Estonian branch of Finnish telecoms company Elisa was also down 1.2 percent on year to €223 million.
Tele2 has not disclosed its turnover figures, but did announce in January that last year it invested 17 percent of its turnover, or nearly €15 million, which suggests that for 2024 the total was around €88.2 million.
In terms of profits, the three companies' figures cannot be compared on a like-for-like basis before their annual accounts are submitted, as all were reluctant to disclose precise figures at this stage.
Telia's operating profit, or EBIT (Earnings Before Interest and Taxes, was €82 million, 5.5 percent lower than in 2023.
Elisa's EBIT was €45 million, €1 million more than in 2023.
Tele2 has not disclosed its operating profits, but has reported that net profit was down 1.3 percent on year, meaning that while it was €771,502 in 2023, last year's profit was €761,472.
Telecoms companies received a lot of media attention in Estonia throughout January due to increasing prices. Telia's campaign to automatically switch customers to higher-priced internet packages, which they had to contact the company to opt out of, also attracted the attention of the Consumer Protection and Technical Regulatory Authority (TTJA).
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Editor: Karin Koppel, Michael Cole