Thank you, Vesa. Welcome everybody to our fourth quarter results review on my behalf as well. The quarter was going according to our expectations pretty much. Revenue growing by 4%. Our EBITDA was growing 6%. Mobile service revenue growth came to 1.5% year-on-year. We had growth also quarter-on-quarter with this mobile service revenue. Postpaid churn stayed pretty much on the same level as in the third quarter. Competitive situation remained pretty much on the same level overall. We increased the postpaid subscription base by 36,800. In the fixed broadband base, the number was decreasing 8,300. Actually, the number of paying customers was increasing by 4,700 since we cleaned up some non-revenue-generating customers of 13,000 altogether. 5G services rollout is going very well. As the leader in 5G services, we have now expanded our network to 13 cities in Finland.
Our board has made the decision to propose the dividend of EUR 1.85 per share to the AGM. If you take a bit look of the full year, we had some revenue growth. As we told a year ago, the beginning of the year is a bit more challenging, but overall, we had 0.7% revenue growth, EBITDA growing with 4.4%. Of course, the IFRS also helping with that very much. Earnings per share came a bit down, being EUR 1.93. We invested 12% of CapEx. Overall, the average mobile service revenue growth during the year was 1.9%. As we have said, the mobile service revenue growth has a positive sign in the number. It was this time +1.9% this year.
We saw subscription bases grow a little bit and the mobile data that we have in our traffic expanded with 21%, being now 1,000 million GB altogether. In the fourth quarter, revenue growth was coming from Polystar acquisition and equipment sales as well as from mobile services. Mobile service revenue growth with the continued upselling of higher speeds as well as some product changes that we've done with the pricing changes as well. EBITDA, of course, the accounting change helping us, but also our continued productivity improvement leading to efficiency improvements and profitability improvements also helped. In terms of the ARPU, of course, the lower interconnection prices have had impact, but also the price pressure based on campaigning or other competitive activities. The ARPU being pretty much on the same level as it has been in the past quarters.
If we take a look on our business segments, consumer side and corporate side, both segments saw revenue growth. We had 2% growth in consumer side, driven by mobile and digital services and equipment sales. In the corporate side, we got 6% growth partly by Polystar acquisition, but also with the mobile services and equipment sales helping to grow the business. In the EBITDA, both segments saw growth. EBITDA growing in consumer side with 5% and in the corporate side 9%. We continue the execution of our strategy with three focus areas where we see very good potential to create results in every and each of them. Looking at the development in the mobile data business, we have now the penetration of 4G customers. Our smartphone penetration has reached 85%, continuing approximately one percentage point per quarter.
The 4G speeds that we have in the customer base have reached 72%, of which 28% are in the lowest speed level. We see that continuous the customers are moving also to the higher speed tiers in the 4G. Now we, of course, have introduced the 5G, where we have already thousands of 5G customers. The proportion of data bundles also and fixed monthly fees customers instead of usage fee customers, that is growing, and now 76% have all-you-can-eat type of bundles of our customer base. As the leader in 5G introduction to Finland, we continue by having the services available already in 13 cities. We have 200,000 Finns already in the coverage area of our services. In the capital area, that is one of the largest 5G coverage area in the whole of Europe.
Also we have introduced the fixed wireless access service with very interesting results from the customers, how it really enables the home internet connection to be improved. We are leading the 5G market also with the IoT customers and IoT applications. We have been piloting many new applications with 5G, for example, with 5G drone, with the public broadcasting company together to provide direct TV broadcasting with the help of drones, as well as some virtual reality applications we have been testing, and so forth. We have also this Elisa 5G Co-Creation Challenge, where we, together with startups, have co-developed various services that take the opportunity of the improved performance that 5G will bring.
There's a lot of activity in terms of providing just faster speed to customers with the help of 5G, but also to enable and experiment and learn of the new applications that will benefit from the enlarged performances of 5G. We are still in early days of the 5G, but this looks very interesting and good, and as the leader in 5G introduction, we continue the way with that. In our digital services, there's a lot of development there as well. For the domestic services, our Elisa Viihde entertainment service, the original series have been very well-received, receiving, for example, 13 Venla awards. One could call them Finnish Oscars award nominations. Several of the original series have been sold to 30 countries or so in other markets. It shows the quality that we have with our co-production of original series.
We also introduced new Elisa Viihde Premium service and devices, as well as a smart TV application. They have been also very well-received by the customers. In the international digital service areas, our Smart Factory Management and smart supply chain product lines have expanded with new customer wins, especially in pharma and electronics sectors. We have very solid growth with the Polystar business that we acquired in the middle of the year, with double-digit growth, with new customers. The integration of Elisa Automate business together with Polystar is moving very well ahead. Elisa Videra has won several new, big international video service customers altogether. I continue to the outlook and the guidance. We see that the positive development of the macroeconomic environment in Finland continues to decelerate, and competition in our branch remains challenging.
Our revenue will be at the same level or slightly higher than 2019. Comparable EBITDA also at the same level or slightly higher than 2019. Our capital expenditures will be maximum 12% of revenues. Now I turn the word to Jari.
Thank you. I start with profit and loss development, first top-line growth, which accelerated, the exact percentage is 3.5%, almost EUR 17 million growth. Main part of that, of course, Polystar acquisition, EUR 10 million, another EUR 10 million from increased equipment sales. Negative impact coming from interconnection and roaming, interconnection prices were lower than a year ago. Service revenues in corporate segment were EUR 4 million below last year. Consumer segment was EUR 3 million higher. In both segments, mobile services growing, digital services in consumer segment growing, negative impact from traditional fixed-line services. EBITDA was growing EUR 10 million, 6.3%, IFRS 16 impact was EUR 4.7 million. Exactly as we said in the beginning of the year that second half of the year is better. That is exactly what happened here. EBITDA margin was 34.5%, EBIT was growing 1.7% to EUR 100 million.
Depreciations included approximately EUR 1 million write down, one of type of write down. Financial expenses reduced as a result of refinancing in Q4, and all that resulted to earnings per share growth of 4%. Estonia continued to grow both in terms of revenue and EBITDA. Revenue was increasing 7%, EBITDA 2%, both mobile and fixed services, as well as equipment sales contributed to revenue growth.
Mobile postpaid base increased by 1,000 subscriptions, and churn was 10.4%. Total CapEx was EUR 83 million and excluding IFRS 16 change, EUR 71 million in total CapEx by segments, consumer segment, EUR 54 million and corporate segment, EUR 29 million. For the whole year, EUR 227 million, in line with the guidance, 12% of revenue and the same guidance is given for this year as well, so 12% from sales. Main CapEx relate to capacity and coverage increases and other network and IT investments.
Cash flow was continuing solid level. Q4 cash flow was EUR 55 million, slightly down from last year. Positive impact from higher EBITDA, including IFRS 16 impact, negative impact from net working capital change and higher CapEx. In net working capital change, receivables were higher than a year ago as a result of higher equipment sales, which are sold partly with payment times. Also, some impact coming from postal office strike, which extended the payment dates from December to this year. Cash conversion in operating cash flow was at 58%. Also, capital structure KPIs are well in targets. Net debt to EBITDA decreased from Q3 1.9x to 1.8 x. Equity ratio at 41%. We did repay EUR 180 million bond in Q4, which resulted to lower interest expenses. Difference against a year ago was EUR 2 million. Return ratios remained at a good level.
Return on equity, 27% and return on investment, 17.5%. Board of directors made a proposal to AGM regarding a dividend of EUR 1.85 per share, which is 6% growth against a year ago, and continuing series of increasing dividends, now six consecutive year. Ex-dividend date is 3rd of April, payment date 15th of April. Total amount to be paid is EUR 296 million, and this proposal represents payout ratio of 96% and dividend yield approximately 4% against the share price end of last year. Additionally, there was an proposal of 5 million shares buyback authorization. All in all, continuation of strong commitment to competitive shareholder remuneration. Now I turn the word to Vesa, please.
Thank you, Jari. Now we move on to Q&A part, and we start from the audience. First question from the audience. Artem, please.
Yes. Hi, Artem Beletski from SEB. A couple of questions from my side. First starting with your mobile intake in Finland and what comes to postpaid. It seems to be the case that a lot of positive development has been seen on corporate side and apparently municipality deals what you got in the past. Do you expect this kind of positive inflow to continue also in coming quarters, from municipality agreements?
Well, you're right. We got the majority of that growth comes from this one deal that we had with the municipalities. We will still have some growth from that in the first quarter of the year, but there will be a renewal of the contract sometime later this year. We'll see then what goes on from that. At least for the first quarter.
Yeah. Maybe a quick one in terms of mobile service revenue growth and a bit of deceleration in Q4, but is your sort of overall message intact that you're expecting it basically to be positive, or do you provide some further color on it?
Yeah. We see opportunity to grow with mobile service revenues, without giving any exact number. Full year was 1.9% on average. We had now 1.5%. Probably, I guess we were the only operator having a quarter-on-quarter growth in mobile service revenues. With the tight competition with campaigns and pricing, quarters are a bit different from quarter to quarter, but we see positive opportunities going forward.
Maybe last one from my side. In terms of 5G intake and development on that front, could you provide further color how it has been developing? Do you see sort of bigger demand coming from your fixed wireless offering, or is it basically driven by smartphone users, basically?
Majority is, of course, from the smartphone user base, from consumer and corporate side. Fixed wireless access is one particular area where we can have also some growth. Now when we are expanding the coverage, we will start to get actually a bit earlier than expected, also a more affordable smartphones, first half of the year already. I'm expecting the good continuation of the subscription intake with 5G. We have already now thousands of customers both in consumer and corporate side, and the growth has really gone according to our expectations. It looks positive how it evolves.
Okay, great. Thank you.
You're welcome.
Sami, please.
Sami Sarkamies, Nordea Markets. I would first continue on the corporate segment. We talked about the customer inflows you had in Q4. Did you have any negative timing impacts? I mean, looking at the ARPU dilution in the corporate segment, was that impacted by timing of these new customers, or are we looking at sort of the underlying ARPU dilution due to additional business from the municipal segment?
In terms of the ARPU dilution, there's of course the interconnection prices that is impacting on that, but also the public sector customers, their ARPU is lower than the average in the corporate segment. When we get a bunch of those, there's of course diluting.
Okay. Moving into the security concerns related to your suppliers. There was a policy approved by the U.K. yesterday. Could you elaborate on potential implications in case Finland would adopt the exact same policy as done in the U.K. yesterday?
I have not fully analyzed what the U.K. policy would mean to us. Of course, so that U.K. also sees a bit more vendor agnostically the opportunities is, of course, we believe reasonable. We are of course part of EU, which U.K. isn't anymore after this month. EU has done its analysis, and there will be measures that EU will recommend to the member countries, and it's up to each member country to then deploy the recommendations and rules. I'm expecting us to have opportunity to use vendors from different geographies. Of course, the whole cybersecurity is and has been an important topic for us. We have a great capability and not the least because of probably the world's most automated operations as well as that we operate our networks ourselves.
We are the only operator that doesn't buy any managed service for the mobile operations in Finland. We have the most secure networks from that respect, because then there are nobody coming into our network without us knowing it, and there's no 24/7 opportunity to operate by anybody else. That kind of mitigation is up to totally on different level. Of course, we are selling that capability to many others who want to turn their managed service business to self-operate.
Okay, thanks. I have a question on your dividend policy. You're now raising the payout ratio from mid of the range to closer to the upper end of the range. Should we regard the 80%-100% range as hard range, or would you be able to deviate from that range if needed?
Well, if needed we of course have growth ambitions both in the dividend and as our EPS. The policy is very much intact. Remains to be seen how we are evolving. Of course, we have a growth in mind when it comes to our earnings per share.
Okay, on 2020 outlook, I would like to ask if you're planning any material cost measures during this year.
We have our quite unique way to improve productivity with the continuous improvement way, which we have been rewarded also with the Quality Innovation Award and the EFQM 5-Star recognition that no other operators have got, for example, in Finland, but all the rest. We have our way to improve productivity is quite unique. It's a continuous, it's Elisa-wide. All the personnel is taking part of it. That is the kind of mean for us and machine for us to continuously improve the productivity based on the quality improvements to customers. As we have not seen in the past years either, we don't see any major restructurings or major headcount reductions. Saying that, of course, we have automation spreading to Elisa to many parts of the manual work. We are heavy user of robotic process automation.
We are heavy user of machine learning and artificial intelligence more and more. Of course we utilize those, but we have also new things to do for our people. In that respect, it's not about just slashing a lot of employees and make the improvements. It's more the continuous improvement, the utilizing the technology and the digitalization, which we continue to do.
Okay, thanks. Finally, a question to Jari on Polystar. Could you disclose the profit contribution from that part of your business in Q4, and then maybe some words on the outlook of that business for this year?
Yes. As said, revenue was approximately EUR 10 million EBITDA at level of EUR 1 million. Polystar has some seasonality. Typically, beginning of the year is a strong season for Polystar business.
Okay. Thank you.
Okay, thank you. Any further questions at the moment from audience? No, there seems to be no questions here. We ask first question from the conference call lines, please.
Thank you. Our first question comes from the line of Andrew Lee of Goldman Sachs. Please go ahead. Your line is now open.
Thanks for taking the question. I just had a second follow-up question on the mobile service revenue comments you made. ARPU is slightly lower year-over-year, I know you're blaming lower interconnect as well as competition. I just wanted to get your sense on the puts and takes going into 2020. Has competition got any worse in the fourth quarter that makes you more nervous about that? Do you expect it getting any worse through 2020? When should the interconnect headwinds let up and deliver an easier comp? Thank you.
All right. We shouldn't have the interconnection price impacts anymore for the quarters this year. Maybe later on there will be some changes to the prices, but this year should be the same as last year. In terms of competition, overall we didn't see a major change in the quite competitive environment from third quarter to fourth quarter. Of course, there were some kind of business events and seasons in November and the Christmas and all that. Overall, in terms of the campaigns and pricing moves, we didn't see any major change from third quarter. Towards the future, of course, we cannot forecast what our competition is doing. We are quite confident on our competitiveness, how we have been developing it, our capabilities in terms of that.
Of course, we are encouraged all the time with the demand that we see based on the continuation of the digitalization by people, the continuation of the demand for higher speeds and also further on to 5G.
Thank you very much.
Our next question comes from the line of Roman Arbuzov of JP Morgan. Please go ahead. Your line is open.
Good afternoon and good morning. Thank you for taking the question. I had a question on the pace of net adds that you've been delivering throughout 2019. You've had a very strong year in terms of net adds and looking into your competitors, you're way ahead, especially ahead of Telia. In that context, and Telia is also going through a period of management change, and as we all remember, periods where there are management changes for Telia are typically followed by relatively aggressive price competition periods. My question is, do you think you may have actually pushed a little bit too hard? You've taken a decent amount of market share on the postpaid net adds, and is that a sensible strategy, do you think, in light of the Telia management changes in particular? Thank you very much.
Well, I don't think that we have been the pusher of net adds. Why we have been increasing more than the others, one thing is that we got this big public deal. Before that public deal, we saw very aggressive behavior by our competition in the B2B segment. We first started to lose, let's say, from two years ago and early last year as well. We have been responding, basically, but we were able to be competitive in one big deal. That's why the net result is a bit positive for our side. We are not going after markets in terms of the subscriptions, because we see that we have bigger business opportunity by selling more to our customers. As said many times before, we defend. If we will be attacked, we will defend, and that remains the same.
This was the kind of net result from last year. In terms of our competition changing the management and which kind of strategy to create shareholder value the new management has, I don't know, so it remains to be seen. Like I said earlier, we are very comfortable on how we have developed our competitiveness and how we know how we develop it further on.
Can I just follow up with one more? DNA has issued a press release earlier today saying that they're gearing up to bolster their B2B muscles. They're looking to hire people and roll out new products. Have you seen any change in behavior in the corporate firm from DNA already, and have you seen any impact? I don't know if you've had a chance to think about the things that they're gearing up to do, but can you comment on what you see in B2B now and going forward, please?
Well, time to time we see our competition to have recruitment announcement in the magazines and everywhere. We are used to have different efforts from different competitors in the B2B segment to increase or change their efforts, including DNA. We are used to that. Of course, we are not standing still. We have a firm competitive position, and we have a lot of capability developments ongoing, how we improve our competitiveness. We are comfortable that we can face continuously increased competitive capabilities from the competition, if you will.
Thank you very much.
Thank you. Our next question comes from the line of Terence Tsui of Morgan Stanley. Please go ahead. Your line is now open.
Thank you. A couple of quick questions, please. Just firstly on 5G, thanks for sharing the data that you have. Just wondered if you can provide us maybe with how many 5G active subscriptions you have today, and what sort of ARPU uplift you're seeing compared to the 4G services. Then secondly, just around M&A. I just wondered if you're optimistic that there could be some more bolt-on opportunities available in 2020, maybe similar to Polystar or some of the other ones that you've done in the past. Thank you.
All right. Thank you. In terms of the 5G number of subscriptions, we are maybe a bit early to tell exact numbers, but we have thousands of customers, and we are increasing with a very promising pace, if you will, both in the consumer segment as well as in corporate segment. The ARPU level is higher for those on average than we have for the rest of the customer base. It is really clearly valued by the customers, and it is providing more value to customers. In terms of the bolt-on acquisitions, yes, we have, let's say, quite exciting opportunity since we have not only the telco and IT M&A opportunities in Finnish and Estonian markets where we focus with these businesses, but we have the international business domains, the Elisa Automate, our Elisa Smart Factory Management, and even video conferencing.
In those three areas, there's a quite wide swath of potential acquisition targets. Of course, we need to work very, let's say, well to identify, analyze, and to find really a kind of best deals. The opportunity space is quite large. In a nutshell, I can say that yes, it is possible that we continue the bolt-on acquisitions this year as well.
Great. That's very helpful.
You're welcome.
Our next question comes from the line of Peter Kurt Nielsen of ABG Sundal Collier. Please go ahead. Your line is open.
Yeah, thank you very much. You've just spoken about, actually related to my questions on international digital services. Your commentary over the last few quarters suggest that you're seeing quite good momentum in these operations. Are we seeing sort of a meaningful impact on revenues? Can I just ask, has Polystar provided your ultimate business... Are you successfully seeing cross-selling to their customers? Has it brought the benefits which you had hoped for? As again, are we seeing a meaningful impact now from the growth in the international digital services, please? Thank you.
You're welcome. Thank you, Peter Kurt. In terms of the revenue, we can say that together with the Polystar acquisition and the growth, the international digital services, and also including Smart Factory and Videra, they are reaching closer to EUR 100 million. Now we are talking about that kind of annual run rate approximately in broad terms. It is starting to become a meaningful revenue. For us, it's more important than exactly now get the revenue to show up that to find that we are on the right track on being with the new growing areas of businesses internationally with competitive capabilities. That's something that we have been proven more and more, and I'm encouraged of that.
In terms of Polystar acquisition, Polystar has been continuing its growth, and it has been really executing well, even if Elisa bought them, and Elisa has brought some new ideas about the joint work with our Elisa Automate product lines and all that. We have already the first customers for cross-selling Elisa Polystar customers, Elisa Automate. All that looks good. Of course, as a CEO, I'm not so patient for the speed. Of course, when you are looking both organic and M&A, there needs to be a certain patience to do the right things, not just to create revenues at once. In a nutshell, as a summary, I believe that we have a very interesting opportunities for years to come with these digital services internationally.
Thank you very much. Could I ask you to repeat the number you gave initially for the run rate? It did not come through at my end.
Altogether, the international one could say around EUR 100 million.
Okay. Thank you.
Towards EUR 100 million.
What?
Towards. Not exact, but 50-100, let's say. It's clearly. Since we are not reporting it's better that I'm not giving exact number because it's not EUR 100 million exactly.
Thank you.
You're welcome.
Our next question comes from the line of Matti Riikonen of Carnegie. Please go ahead. Your line is open.
Hello, good afternoon. Three questions from my side. First of all, when you give the top line guidance and you say that mobile services growth is one of the contributing factors to higher top line growth in 2020, do you see that 5G would be any kind of meaningful contributor to that? Is it still that 4G speed upgrades are doing the most of, let's say, the bulk of the growth?
All right, Matti. 5G potentially can be a good contributor. A bit depends on how it evolves. We see that overall, the speed upgrades are continuing. The demand for that is continuing. Overall, whether it's 4G speed upgrades or additionally 5G, we see the mobile service revenue growth opportunity to contribute to the revenue growth in the year.
All right. Thank you. Secondly, when we look at your mobile service revenue growth, the 1.5% and roughly 2% in 2019, you were growing, but your competition was growing faster. What do you think makes this distinction that has enabled them to grow faster? Is it lower base that they are starting from, or do you see some kind of other elements that might have an impact? Also your thoughts about how it's going to continue. I know that you only say that you expect it to grow like this year, not 2019, but how do you think that the chances are?
Well, I guess we have one competitor who has been growing a bit higher numbers and one with a bit lower. I don't know which one you want me to comment, but nevertheless, I don't know exactly where the details of the contribution of any different mobile service revenue elements to their numbers. I cannot comment. I can only comment of our way forward, and we mainly have not been increasing the customer base as much as at least one of our competition. We have not had a strategy for market share growth. Even if we had some growth in the number of subscribers based on one larger deal that I explained. We have more focused on giving more value to customers and providing through the speed upgrades.
We are, of course, the biggest also that the percentage numbers are telling then a lower story, a lower number story. We are focusing on our own race for the most to generate good reasons for our customers to pay more by getting more value, for example, by speed. Of course, also making sure that we are not a target for anybody who is willing to take market share. We are responding.
Maybe adding one thing. I think, I believe we were the only one who had Q-on-Q growth in mobile service revenue.
Yeah, I was looking at the year-over-year numbers in Q4.
If you look, if you take a look on third quarter to fourth quarter change, we were the only one having positive number there.
Yes. That's of course, correct.
There are some dynamics moving in different directions.
Fair enough. The third question is a bit more broad. I was surprised to see that there was a Net radar study a couple of days ago in Finland saying that the 4G speeds on average in the country were having declined versus a couple of years ago. That was a little bit surprising. Do you think that it would mean that on average in Finland, the network capacity utilization has increased more than capacity itself, or is it just a deliberate decision from you and other operators to basically reduce speeds unless you get paid for that? Is it more tighter control of what the customers are actually getting, or is the kind of survey kind of irrelevant in your view? How does it feel about that?
I don't know exactly the Net radar study in detail. You have to remember that some of our competition gives full speed, even though they may sell reduced speeds. How much they have followed our customers versus the others, I don't know. The fact, of course, is that we have more customers moving more traffic in the networks of three operators overall. There may well be that in some parts of the operator network, some operators networks, the capacity increase has not grown at the pace where the customer usage has grown. I doubt, at least from Elisa's point of view, I can say that we are not consciously decreasing the speeds for our customers. I would doubt that our competition do it, even if I don't know. The main driver is that increased demand for the traffic.
Of course, it is about how and which way this whole study has been made. It is very important to take a look. We saw a bit similar kind of studies with similar kind of, let's say, results when we were starting to move from 3G to 4G for 3G network. We may be in the situation of operators moving their investments more to 5G, and then for a certain period of time, the 4G investments are not following the, let's say, altogether the demand that it has been growing in the 4G side. I would say that we'd need to see a bit more in details how this study has been done. It is only one study.
Yes, of course. Okay. Thank you for the answer. Thanks.
You're welcome.
That was it from my side.
Thank you. Our next question comes from the line of Adam Fox-Rumley of HSBC. Please go ahead.
Thank you. I've got two questions, please. One of your competitors is planning to invest more in its fiber networks in the next year, is also planning on taking out its copper network. I guess the first part is to what extent is that any form of competitive threat to you? Could you give us an update on your plans in that similar network investment? Secondly, I'm just thinking about your domestic digital services. We talked a bit about the international ones, I wondered if you could say where we see that contribution in your financial statements from, say, selling a program to multiple territories. If you're able to give a similar indication of the scale of those domestic digital services, that would be very useful. Thank you.
All right. In terms of the fiber, we are the largest fixed network operator in Finland. We have a lot of fiber. We know pretty well the demand for fiber solutions, both in the consumer side, fiber to the home or fiber to the curb, as well as fiber for the B2B customers and of course in our infrastructure for mobile, there's a lot of usage of fiber. We of course have growth plans. We need more fiber and we have growth plans. We are not detailing those. We have growth plans according to the needs and the demand. One misunderstanding what exists when countries are looked at is when thinking about the demand for fiber usage. Finland is a very different country. When looking at, for example, Sweden.
We have the unlimited mobile broadband now 4G already giving a good service level throughout the country, 5G coming. It is a very competitive proposition for customers with the total cost of ownership versus the fiber in Finland. We would wish that there would be more demand for fiber, and we will of course be eager to take all of that demand that we can in the market, if you will. I don't know exactly, and I wouldn't comment on the competitors' activities. Our competitors have invested in fiber already for years, and so have we, and we will do. That's all I can say about the fiber at the moment. Your questions regarding the international services, you were asking that where do we see? We have the digital services reported in our reports both to consumer and corporate segment, depending on to whom we are selling.
The IT, for example, and for example, the Polystar, they belong to the B2B segment reporting, and so does the entertainment to consumer side. Is there anything, Jari, you would add to that question?
Yeah. Exactly as Veli-Matti said, so they are included in both customer segments. Then in the Excels that we give, they are included in fixed and others revenue lines.
Okay. Thank you very much.
Welcome.
Thank you. Just to remind telephone participants, if you would like to ask a question, please press zero one on your telephone keypad. There are no further questions at this time. Please go ahead, speakers.
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