DNA Plc’s Business Review for July–September 2026: Signs of improvement in a challenging market environment

Summary of DNA’s key figures for July–September 2026

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

• Total revenues increased by 4% and amounted to EUR 288 million (276).
  • Service revenues increased by 1% and amounted to EUR 219 million (218).
  • Comparable service revenues decreased by 1%.*
• EBITDA remained stable and amounted to EUR 114 million (115).
  • Comparable EBITDA before other income and expenses decreased by 4%.*
  • EBIT increased by 14% and amounted to EUR 55 million (49).
• Average revenue per user (ARPU):
  • ARPU for mobile communications increased by 2% and was EUR 19.6 (19.2).
  • ARPU for fixed broadband (retail) decreased by 4% and was EUR 16.4 (17.1).
  • ARPU for TV subscriptions (retail) increased by 8% and was EUR 13.0 (12.1).
• Number of subscriptions:
  • The number of mobile subscriptions increased to 2,849,000 (2,840,000).
  • The number of fixed broadband subscriptions (retail) increased to 711,000 (703,000).
  • The number of TV subscriptions (retail) decreased to 168,000 (176,000).

 *Comparable service revenues and comparable EBITDA before other income and expenses take into account the transfer of DNA’s IoT business to Telenor Connexion at the beginning of 2026, as well as one-off adjustments made during 2025. 

CEO’s review

DNA’s operating environment remained challenging in the third quarter, although the Finnish economy showed cautious signs of strengthening. According to the Bank of Finland’s September interim forecast, growth was supported by exports and investment, but high unemployment and uncertainty related to energy price developments continued to affect consumers and businesses. Competition in the telecommunications market remained intense, particularly in the Consumer Business.

Despite the challenging market environment, DNA’s business showed signs of improvement during the third quarter. In July–September, total revenues amounted to EUR 288 million (276), service revenues to EUR 219 million (218), EBITDA to EUR 114 million (115) and EBIT to EUR 55 million (49). The number of mobile subscriptions was 2,849,000 (2,840,000), and ARPU was EUR 19.6 (19.2). The number of fixed broadband subscriptions was 711,000 (703,000), and ARPU was EUR 16.4 (17.1). The number of TV subscriptions decreased as expected.

During July–September, we continued our work to promote a safer digital everyday life. Scams targeting businesses use an increasing number of communication channels, underlining the importance of employee competence, multi-factor authentication and up-to-date security solutions. In children’s digital safety, together with Protect Children, we highlighted taking a screenshot as a skill that helps a child tell an adult about harassment encountered online and seek help.

The development of AI-powered services has once again taken major leaps forward. In September, we introduced the DNA AI Interpreter service for companies and public-sector organisations, enabling real-time interpretation during a phone call. The service demonstrates how AI can improve the accessibility of customer service and address customers’ practical needs. Our goal is to develop secure, scalable and easy-to-use AI services that provide customers with tangible benefits.

We also continued the long-term development of our network infrastructure. Our major fibre investment aims to bring fibre connections to all existing customer housing companies by 2028. At the same time, we are developing our mobile network based on growing data volumes and local customer needs. By investing in fibre and mobile connections in parallel, we strengthen the capacity and reliability of our networks and ensure that our customers will continue to have access to fast and reliable connections in the future.

With regard to personnel, we have remained committed to our long-term, trust-based and straightforward model of working. DNA does not require employees to work on-site, nor do we monitor the number of days spent at the office. At the same time, we encourage community, learning and face-to-face interaction. For example, in September, a recreation day for all DNA employees brought together approximately 800 DNA employees in Vierumäki to strengthen wellbeing and community.

The EPSI Rating customer satisfaction study published in October after the review period confirmed that our long-term work is also reflected in our customers’ assessments. DNA received the highest sustainability rating in the mobile industry from corporate customers, as well as the best ratings in the comparison for expectations, service quality and value for money. The results show that responsibility, reliability and a good customer experience are closely connected.

Trust is the common theme linking the events of the past quarter. Our customers must be able to trust the reliability of their connections, the security of our services and our responsible use of new technologies. This trust is built every day by investing in networks, developing services that provide genuine benefits to customers, and taking care of our employees’ competence and wellbeing. It is also the foundation of our sustainable growth.

Jussi Tolvanen
CEO

Review of Consumer and Corporate Business

In the Consumer Business, interest in subscription services with cybersecurity features remained strong in the third quarter. The DNA Huoleton Plus subscriptions launched earlier this year combine mobile connectivity, secure web browsing and DNA Numerovahti, which warns users about scam calls, into a single package. This responds to customers’ growing need for protection against threats in their digital everyday lives.

During the review period, we strengthened our device-as-a-service offering by expanding the DNA Vaivaton service to cover 5G routers. The service enables customers to use a device for a monthly fee without an upfront investment, while DNA takes care of the device and keeps it up to date throughout its life cycle. According to our Digital Life study, nearly one in five Finns is interested in acquiring a device as a service.

Security and suitability for the intended purpose were emphasised in consumers’ device choices. The growing popularity of children’s smartwatch phones reflects families’ interest in safe communication solutions. We also continued our long-term work to promote children’s digital safety in cooperation with Protect Children. A campaign carried out during the review period highlighted the online safety of children and young people and sexual harassment encountered online.

In the Corporate Business, competition remained intense in the third quarter. Demand continued to focus on digital solutions, telecommunications connections and value-added services supporting the operations and security of businesses. The financial position of companies is gradually improving and signs of growth and strengthening confidence can be seen, but the situation remains challenging. Geopolitical developments challenge digitalised business and require resilience, redundancy, preparedness and anticipation to be taken into account to ensure continuity.

We continued to invest in Finland’s digital infrastructure and improved the coverage and resilience of our networks. During the review period, we entered into significant agreements on telecommunications connections for data centres. We strengthened our cooperation with Google and will provide connectivity to the company’s data centres in Finland. As part of Telenor, DNA is well positioned to provide connectivity in Finland and internationally.

We also strengthened our position in the corporate customer market with new customer relationships. Jokerit centralised its telecommunications services with DNA, including communications and customer service solutions, mobile subscriptions and AI-based solutions. The cooperation will also develop the club’s digital services going forward.

We continued to develop and commercialise AI solutions for corporate customers. Customer deliveries of the services launched at the end of the second quarter got off to a strong start. We also introduced the DNA AI Interpreter service, which enables real-time interpretation during a phone call. The solution helps businesses and public-sector organisations provide smoother, more accessible and more equal service to their customers without separate interpretation arrangements.

The popularity of DNA Numerovahti, launched for DNA Business Varma subscriptions in the previous review period, continued to grow among corporate customers. The service, which identifies scam calls and mass calling, is also increasingly purchased as a separate monthly add-on service.

Our expertise also received international recognition during the review period. The Technology Trends publication, released for the ninth time this year, won gold at the MUSE Creative Awards (Technology Trends 2026) and silver at the NYX Awards (Technology Trends 2026: Era of New Intelligence).

Key figures

EUR in million	7–9/2026	7–9/2025	Change, %	1–9/2026	1–9/2025	Change, %	1–12/2025
Mobile service revenues	170	168	2%	508	506	0%	679
Wholesale and other mobile revenues	11	10	14%	31	30	5%	40
Device revenues	52	44	19%	138	128	8%	189
Total revenues mobile operation	234	221	6%	677	663	2%	907
Total revenues fixed operation	54	55	-2%	162	165	-2%	220
Total service revenues (1)	219	218	1%	655	656	0%	880
Total revenues (1)	288	276	4%	839	828	1%	1,128
EBITDA before other income and expenses	115	115	0%	340	340	0%	448
EBITDA (1)	114	115	0%	338	339	0%	448
Depreciation and amortisation	-59	-66	-11%	-178	-197	-10%	-262
EBIT	55	49	14%	161	142	13%	186
Capital expenditure	65	30	121%	203	80	152%	145
Operating capital expenditure (2)	37	26	43%	86	67	29%	119
Mobile:
No. of mobile subscriptions (in thousands) (3)	2,849	2,840	0%	2,849	2,840	0%	2,808
ARPU (1) (4) in the quarter, EUR	19.6	19.2	2%	19.6	19.6	0%	19.7
Fixed:
No. of subscriptions retail market (in thousands):
- Internet	711	703	1%	711	703	1%	707
- TV (5)	168	176	-5%	168	176	-5%	174
ARPU (4) in the quarter - Internet, EUR	16.4	17.1	-4%	16.5	17.2	-4%	17.1
ARPU (4) in the quarter - TV, EUR	13.0	12.1	8%	12.9	11.7	10%	12.0

1. EBITDA, service revenues, total revenue comparatives and, consequently, average mobile ARPU comparatives are negatively affected by one-off adjustments made in 2025 and by the transfer of the IoT business to Telenor Connexion at the beginning of 2026.
2. Capital expenditure excluding licence fees and IFRS 16 capital expenditure (ENT 1).
3. Postpaid, prepaid, mobile home phone (“Luuri”) and mobile broadband subscriptions.
4. ARPU = Monthly subscription revenues and traffic revenues + interconnection / average number of subscriptions.
5. TV = cable pay-TV and DNA TV. The number of subscriptions has decreased particularly due to a change in the reporting method.

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