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Elisa misses expectations as recession hits Nordic telecoms
February 6, 2013 / 6:56 AM / in 5 years

Elisa misses expectations as recession hits Nordic telecoms

HELSINKI, Feb 6 (Reuters) - Finnish telecom operator Elisa reported weaker-than-expected quarterly results as Europe’s recession made consumers and business clients wary of spending.

Elisa reported fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) of 124 million euros ($168 million), missing the market’s average forecast of 131 million euros in a Reuters poll.

Telecoms companies in Europe have been struggling with slower growth and tough competition. Nordic firms had initially resisted such trends, but both Sweden’s Tele2 and TeliaSonera AB have also reported weak results for the fourth quarter. ($1 = 0.7392 euros) (Reporting by Helsinki newsroom; Editing by Hans-Juergen Peters)

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