Elisa adjusts 2026 outlook ahead of Q2, shares on Helsinki in analyst focus

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-25, 14:24.

Elisa Oyj (FI0009007832) updated its 2026 outlook in a recent investor communication, tightening its guidance ranges for revenue growth and EBITDA margin as the Finnish operator prepares for its next quarterly report on the Helsinki Stock Exchange. The company reiterated its focus on stable cash generation and disciplined capital expenditure, according to its investor relations material.

What the latest guidance shows

In its current medium-term targets, Elisa states that it aims for revenue growth broadly in line with the Finnish market, with a continued emphasis on mobile and fixed broadband services, as well as digital services for enterprises. The company continues to target an EBITDA margin in the high-30s percent range, reflecting steady profitability in a competitive Nordic telecom market.

Elisa also highlights its commitment to a progressive dividend policy, anchored in stable free cash flow and a leverage ratio that remains within its stated target range. The operator’s guidance underscores the balance between shareholder distributions and ongoing 5G and fiber network investments, a theme shared with Nordic peers such as Telia and DNA.

Analyst views on the Elisa shares

According to analyst compilations, most coverage on Elisa maintains a neutral to moderately positive stance, citing the stock’s defensive profile and consistent dividend track record. Consensus data collected by market services show a mix of Hold and Buy ratings, with price targets clustered around the current trading levels in Helsinki.

Commentary from Nordic brokerages points to Elisa’s relatively low volatility compared with broader European telecom indices, backed by its dominant position in the Finnish mobile and broadband markets. Analysts also note the company’s exposure to digital services and IT solutions as a potential driver of incremental growth beyond traditional connectivity.

The business behind the stock

Elisa generates most of its revenue from mobile and fixed broadband services, complemented by TV, content and cloud-based solutions for consumers and businesses. The company also operates a growing portfolio of digital services, including IoT connectivity, cybersecurity offerings and IT outsourcing for corporate customers.

Where the shares trade today

The Elisa shares (FI0009007832) trade on Nasdaq Helsinki at around 50 euros per share as of 2026-06-25, 14:00, reflecting the latest available price data for the stock. The listing is part of the OMX Helsinki benchmarks, giving the shares a role in Nordic telecom sector indices.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. All data are based on sources deemed reliable but cannot be guaranteed.