Consolidated financial statements

Key indicators

Key indicators describing the Group’s financial development
    2016 2015 2014 2013 2012
             
INCOME STATEMENT            
Revenue, EUR million   1,636 1,569 1,535 1,547 1,553
Change of revenue,%   4.2 2.2 -0.8 -0.4 1.5
EBITDA (EUR million)   563 532 520 491 501
EBITDA as % of revenue   34.4 33.9 33.8 31.7 32.3
EBIT, EUR million   339 312 305 281 299
EBIT as % of revenue   20.7 19.9 19.9 18.1 19.2
Profit before tax, EUR million   320 291 278 255 269
Profit before tax as % of revenue   19.6 18.5 18.1 16.5 17.3
             
Return on equity (ROE),%   27.1 27.0 25.6 22.9 24.7
Return on investment (ROI),%   17.0 16.5 15.7 15.3 17.4
             
Research and development costs, EUR million 11 15 13 10 9
Research and development costs as % of revenue 0.7 0.9 0.8 0.6 0.6
             
BALANCE SHEET            
Gearing ratio,%   115.7 103.9 114.0 112.6 99.3
Current ratio   1.0 0.7 0.9 1.0 1.0
Equity ratio,%   38.5 41.4 39.4 37.3 42.3
Non-interest bearing liabilities, EUR million 393 330 322 353 285
Interest bearing net debt   1,124.1 962.0 1,001.5 971.2 838.6
Balance sheet total, EUR million   2,533 2,247 2,243 2,324 2,009
             
INVESTMENTS            
Investments in shares and business combinations, EUR million   108 18 43 150  
             
CAPITAL EXPENDITURES            
Investments, EUR million   226 196 191 240 193
Investments as % of revenue   13.8 12.5 12.5 15.5 12.5
             
PERSONNEL            
Average number of employees during the period   4,247 4,146 4,138 4,320 3,973
Revenue/employee, EUR 1,000   385 379 371 358 391
The order book is not shown because such information is immaterial owing to the nature of the company’s business.
Formulae for financial summary indicators
     
EBITDA EBIT + depreciation, amortisation and impairment  
     
EBIT Profit for the period + income taxes + financial income and expense + share of associated companies' profit  
     
Return on equity (ROE),% Profit for the period x 100
  Total shareholders' equity (on average during the year)  
     
Return on investment (ROI),% Profit before taxes + interest and other financial expenses x 100
  Total equity + interest bearing liabilities (on average during the year)  
     
Gearing ratio,% Interest-bearing liabilities – Cash and cash equivalents and financial assets at fair value through profit or loss x 100
  Total shareholders’ equity  
     
Current ratio Current assets  
  Current liabilities – advance payments received  
     
Equity ratio,% Total shareholders’ equity x 100
  Balance sheet total – advance payments received  
Per-share indicators(1
    2016 2015 2014 2013 2012
Share capital, EUR   83,033,008 83,033,008 83,033,008 83,033,008 83,033,008
Number of shares at year-end   159,619,944 159,484,067 159,349,030 159,349,030 156,879,666
Average number of shares   159,607,755 159,469,737 159,349,030 157,269,132 156,548,402
Number of shares at year-end, diluted   159,619,944 159,484,067 159,349,030 159,349,030 157,016,312
Average number of shares, diluted   159,607,755 159,469,737 159,349,030 157,269,132 156,685,047
Market capitalisation, EUR million (2   5,176 5,822 3,783 3,223 2,797
Earnings per share (EPS), EUR   1.61 1.52 1.41 1.25 1.33
Dividend per share, EUR   1,50 (5 1.40 1.32 1.30 1.30
Payout ratio,%   93.1 91.8 93.5 104.0 97.5
Equity per share, EUR   6.08 5.80 5.51 5.41 5.37
P/E ratio   19.2 22.8 16.0 14.8 12.6
Effective dividend yield,% (2   4.8 4.0 5.8 6.7 7.8
Share performance on Nasdaq Helsinki            
Mean price, EUR   32.27 28.37 20.93 16.15 16.61
Closing price at year-end, EUR   30.93 34.79 22.61 19.26 16.73
Lowest price, EUR   28.40 22.10 18.19 13.37 14.84
Highest price, EUR   35.80 35.99 24.04 19.49 17.97
Trading of shares on Nasdaq Helsinki (3            
Total trading volume, 1,000 shares   105,663 113,312 112,729 128,100 116,534
Percentage of shares traded (4   63 68 67 77 70
1) The numbers of shares are presented without treasury shares held by Elisa Group. Treasury shares have been accounted for in the calculation of the indicators.
2) Calculated on the basis of the closing price on the last trading day of the year.
3) Elisa share is also traded in alternative marketplaces. According to the Fidessa Fragmentation report, the trading volumes in these markets in 2016 were approximately 180 (153) per cent of the Nasdaq Helsinki.
4) Calculated in proportion to the average number of shares for the period.
5) The Board of Directors proposes a dividend payment of EUR 1.50 per share.
Formulae for per-share indicators
     
Earnings per share
Profit for the period attributable to the equity holders of the parent  
(EPS) Average number of shares during the period adjusted for issues  
     
Dividend per share (1 Dividend adjusted for issues  
Number of shares at the balance sheet date adjusted for issues  
     
Effective dividend yield, % Dividend per share x 100
Share price at the balance sheet date adjusted for issues  
     
Payout ratio, % (1 Dividend per share x 100
Earnings per share  
     
Equity per share
Equity attributable to equity holders of the parent  
Number of shares at the balance sheet date adjusted for issues  
     
P/E ratio (Price / Earnings)
Share price on the balance sheet date  
Earnings per share  
     
1) The calculation formulas apply also to the capital repayment indicators.

Tell a friend

Your name
Your email
 
Email title
Message
 
Friends emails

 Add friend