DNA Plc’s Business Review for January–March 2025: Favourable developments in both total revenues and profitability

Summary of DNA’s key figures for January–March 2025

Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. Figures are unaudited.

• Total revenues increased by 3% and amounted to EUR 275 million (266).
  • Service revenues grew by 4% and amounted to EUR 218 million (208).
• EBITDA increased by 9% to EUR 114 million (104).
• Average revenue per user (ARPU):
  • ARPU for mobile communications grew by 3% and was EUR 19.6 (19.0).
  • ARPU for fixed broadband (retail) grew by 3% and was EUR 17.1 (16.6).
  • ARPU for TV subscriptions (retail) increased by 8% and was EUR 10.8 (10.0).

• Number of subscriptions:
  • The number of mobile subscriptions increased to 2,792,000 (2,762,000).
  • The number of fixed broadband subscriptions (retail) increased to 695,000 (680,000).
  • The number of TV subscriptions (retail) decreased to 179,000 (211,000).

CEO’s review

The current year has started strongly for DNA. DNA's total revenues increased by 3% to EUR 275 million (266), total service revenues grew by 4% to EUR 218 million (208) and EBITDA rose by 9% to EUR 114 million (104). The number of mobile subscriptions increased to 2,792,000 (2,762,000), with ARPU rising to EUR 19.6 (19.0). The number of fixed broadband subscriptions rose to 695,000 (680,000), and their ARPU increased to EUR 17.1 (16.6). The number of TV subscriptions fell, as expected, a trend that was also accelerated by changes in the reporting methodology.

As from the end of last year, DNA's 5G population coverage is close to 100%, based on Finns' permanent addresses. Network improvements have also been implemented this year. DNA’s old 3G network was already shut down last year. In the first months of this year, frequencies freed up from 3G were also allocated to newer network technologies in the region covered by the Finnish Shared Network that we use in Northern and Eastern Finland. This had already been carried out in DNA's own network last year.

In February, we announced that DNA blocked a total of 35 million scam calls and texts between 2021 and 2024. These prevention efforts continued in the early part of the year, as scams are the fastest-growing information security threat to ordinary citizens. In the early months of the year, DNA responded to its customers' growing need for protection by adding fraud protection to the DNA Digiturva service, which helps identify untrustworthy online stores, blocks malicious websites and detects text message scams. In March, we also announced that DNA Digiturva will be supplemented with online fraud insurance.

In February, we announced that DNA had made a comprehensive agreement with Google Cloud to accelerate our cloud migration. It will also enhance efficiency in software development, as AI capabilities can be harnessed better in DNA applications. DNA has millions of customers and we handle a huge amount of data. For this reason, running AI services would be practically impossible unless the data platform is in the cloud. DNA will continue to maintain critical data in its own data centres using the Google Distributed Cloud service. Other applications and data are stored at Google's data centre in Hamina.

In January 2025, DNA started purchasing electricity from the recently completed Exilion Tuuli wind farm in Ii, North Ostrobothnia. All of the electricity directly purchased by DNA is renewable and, under the new 10-year agreement, more than 80% of it will come from Ii.  This agreement with DNA was one of the reasons the wind farm could be built in the first place – a great investment in Finnish green energy.

At DNA, we believe that a humane and people-centric approach to work leads to commitment, excellence and creativity. As the relationship with a new employee already begins during the job application stage, in 2025 we decided to once again recruit all of our approximately 100 summer employees without requesting a traditional CV or application letter. By streamlining the application process, we wanted to reduce the already high workload faced by summer jobseekers. At the same time, we aim to improve the applicant experience and improve equality in jobseeking. We once again received a record number of applications for summer jobs – I’d like to warmly thank the applicants for their interest in us.

Despite a good start to the year, global political developments and market uncertainty kept us on our toes and reminded us of the importance of preparedness and continuity planning. Due to the heightened security situation, we have further bolstered our already robust preparedness for exceptional situations. DNA has numerous independent submarine and land connections from Finland to abroad, thanks to which data transfers can always be routed fault-tolerantly. In addition to our own cables, DNA also owns the equipment facilities along the routes and leases connections from other operators.

In closing, I’ll mention that our duty to release information under the disclosure obligation ended in late March when the bond we had issued that was listed on Nasdaq Helsinki matured. However, DNA will continue to publish press releases about current events as well as key performance and sustainability information as usual. In addition, all official DNA figures are reported as part of the stock exchange reporting of our parent company Telenor ASA, which is listed on the Oslo Stock Exchange.

Jussi Tolvanen
CEO

Review of Consumer and Corporate Business

In the Consumer Business, DNA has been increasing its market share in both mobile and fixed-network broadband for some years. In terms of subscriptions, the company ranks second in the Finnish mobile market and first in the fixed broadband market. DNA’s success is built on an excellent customer experience.

During the first quarter of 2025, we announced that DNA's comprehensive data security service, DNA Digiturva, will be rounded out in April with the launch of online fraud insurance. This service provides advice and legal assistance to customers who suspect that they have been the victim of online fraud or harassment. Private customers who have purchased the DNA Digiturva service are automatically covered at no extra cost.

The Mobile Certificate has also remained highly popular and its number of users has been on the rise.

In addition, we launched birch veneer modem cases made from Finnish birch. These cases serve as a conversation starter about better device placement. An internet connection works better when a modem is placed in a central location in the home.

In Corporate Business, the first quarter was strong, which was also reflected in excellent customer satisfaction. Corporate Business has responded to the information needs of companies in a volatile global environment by actively sharing its expertise in data security and AI in the form of guides and events. These take into account security perspectives relevant to end users, networks, infrastructure and cloud solutions, as well as the potential of AI. DNA already makes extensive use of AI in its own operations, customer service and expert services, and offers these solutions to customers to improve their services.

Corporate customers have also had the opportunity to visit the DNA Experience Lounge, which opened its doors earlier this year. It is an innovative and immersive space where visitors can explore the opportunities and threats of future technology and the products and services offered by DNA in an interactive environment. The Lounge can showcase AI solutions for customer service with real-life use cases, information security solutions with an educational and interactive approach, and soon also the capabilities of 5.5G network technology.

Key figures

EUR in million	1–3/2025	1–3/2024	Change, %	1–12/2024
Mobile service revenues	167	159	5	650
Wholesale and other mobile revenues	10	10	3	37
Devices revenues	43	44	-1	194
Total revenues mobile operation	220	212	4	881
Total revenues fixed operation	55	54	2	218
Total service revenues	218	208	4	848
Total revenues	275	266	3	1,100
EBITDA before other income and expenses	114	104	9	417
EBITDA	114	104	9	413
Depreciation and amortisation	-66	-63	5	-256
EBIT	48	41	16	157
Capital expenditure	20	42	-53	172
Operating capital expenditure (1)	17	28	-39	133
Mobile:
No. of mobile subscriptions (in thousands)(3)	2,792	2,762	1	2,803
ARPU (2) in the quarter, EUR	19.6	19.0	3	19.4
Fixed:
No. of subscriptions retail market (in thousands):
Internet	695	680	2	697
- TV (4)	179	211	-15	211
ARPU (2) in the quarter - Internet, EUR	17.1	16.6	3	16.5
ARPU (2) in the quarter - TV, EUR	10.8	10.0	8	11.3

1. Capex excl. licences and spectrum and IFRS 16.
2. ARPU = Monthly subscription revenues and traffic revenues + interconnection / average number of subscriptions.
3. Postpaid, prepaid, mobile home phone (“Luuri”) and mobile broadband subscriptions.
4. TV = cable pay-TV and DNA TV. The number of subscriptions decreased in Q1/2025 particularly due to a change in the reporting methodology.

Additional information:

Jussi Tolvanen, CEO, DNA Plc, tel. +358 44 044 1000, jussi.tolvanen@dna.fi

Timo Kipinoinen, CFO, DNA Plc, tel. +358 44 044 8131, timo.kipinoinen@dna.fi

DNA Corporate Communications, tel. +358 44 044 8000, communications@dna.fi