January 29, 2020 / 6:50 AM / 23 days ago

Finland's Elisa Q4 profits rise, starts buybacks

Jan 29 (Reuters) - Finnish telecom service provider Elisa reported on Wednesday an increase in profit for October-December, boosted by growth in mobile services, and said it plans to buy back up to 3% of its stock.

Elisa reported October-December operating profit before depreciations and amortisations (EBITDA) rising 6% from a year ago to 168 million euros, in line with analysts average forecast of 168.1 million euros in a Refinitiv poll.

Elisa, which battles with Telia and Telenor’s DNA in Finnish market, said it sees 2020 revenues and EBITDA “at the same level or slightly higher than in 2019.”

Elisa proposed a dividend of 1.85 euros for 2019, and said it also plans to buy back up to 3% of shares. (Reporting by Tarmo Virki Editing by Shri Navaratnam)

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