News
Mobile operator confirms listing is an option; posts solid Q2 results.
DNA is considering a flotation, it announced on Friday, alongside the publication of its second quarter results, which showed strong growth in operating profit.
The Finnish mobile operator’s board of directors began a strategic assessment of the company during the quarter, and "one possible outcome of the assessment is listing DNA on the stock exchange," it stated.
The board will announce the results of the assessment when it is completed, the telco added, without sharing any likely timeframe.
However, Finnish newspaper Helsingin Sanomat quoted unnamed sources as saying that DNA could list in Helsinki this autumn, although it has not yet decided on an exact date, Reuters reported.
DNA, which is Finland’s third largest mobile operator, saw net sales increase by 1.2% year-on-year in the April-June quarter to €210.2 million, while EBITDA grew by 6.2% to €58.6 million.
Operating profit grew 59.3% to €22.3 million.
The company’s financials were boosted by growth in its customer base, according to CEO Jukka Leinonen.
DNA added 121,000 mobile subscriptions in the first half of the year, increasing its base to 2.67 million.
Its fixed network base increased by 2,000 to reach 1.11 million.
"The growth of the number of fixed-network broadband and cable television subscriptions by 17,000 subscriptions in total has compensated for the drop in the number of fixed-network voice subscriptions," Leinonen said.
The telco reiterated its forecast for the full year, noting that net sales should remain at a similar level to 2015, while operating profit is "expected to grow significantly."
