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Est. tid*
2025-10-30 08:00 Kvartalsrapport 2025-Q3
2025-07-24 08:00 Kvartalsrapport 2025-Q2
2025-05-14 N/A X-dag ordinarie utdelning ELTEL 0.00 SEK
2025-05-13 N/A Årsstämma
2025-04-30 08:00 Kvartalsrapport 2025-Q1
2025-02-14 - Bokslutskommuniké 2024
2024-10-31 - Kvartalsrapport 2024-Q3
2024-07-25 - Kvartalsrapport 2024-Q2
2024-05-15 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2024-05-14 - Årsstämma
2024-04-26 - Kvartalsrapport 2024-Q1
2024-02-14 - Bokslutskommuniké 2023
2023-11-02 - Kvartalsrapport 2023-Q3
2023-07-27 - Kvartalsrapport 2023-Q2
2023-05-12 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2023-05-11 - Årsstämma
2023-05-04 - Kvartalsrapport 2023-Q1
2023-02-16 - Bokslutskommuniké 2022
2022-11-02 - Kvartalsrapport 2022-Q3
2022-07-26 - Kvartalsrapport 2022-Q2
2022-05-12 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2022-05-11 - Årsstämma
2022-05-04 - Kvartalsrapport 2022-Q1
2022-02-17 - Bokslutskommuniké 2021
2021-11-02 - Kvartalsrapport 2021-Q3
2021-07-27 - Kvartalsrapport 2021-Q2
2021-05-06 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2021-05-05 - Årsstämma
2021-04-28 - Kvartalsrapport 2021-Q1
2021-02-18 - Bokslutskommuniké 2020
2020-11-05 - Kvartalsrapport 2020-Q3
2020-07-23 - Kvartalsrapport 2020-Q2
2020-05-05 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2020-05-04 - Årsstämma
2020-04-29 - Kvartalsrapport 2020-Q1
2020-02-14 - Bokslutskommuniké 2019
2019-11-07 - Kvartalsrapport 2019-Q3
2019-06-24 - Kvartalsrapport 2019-Q2
2019-05-08 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2019-05-07 - Årsstämma
2019-04-26 - Kvartalsrapport 2019-Q1
2019-02-21 - Bokslutskommuniké 2018
2018-11-07 - Kvartalsrapport 2018-Q3
2018-09-17 - Extra Bolagsstämma 2018
2018-08-09 - Kvartalsrapport 2018-Q2
2018-05-11 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2018-05-09 - Årsstämma
2018-05-04 - Kvartalsrapport 2018-Q1
2018-02-22 - Bokslutskommuniké 2017
2017-11-02 - Kvartalsrapport 2017-Q3
2017-08-17 - Kvartalsrapport 2017-Q2
2017-06-01 - Årsstämma
2017-05-02 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2017-05-02 - Kvartalsrapport 2017-Q1
2017-02-22 - Bokslutskommuniké 2016
2016-11-09 - Kvartalsrapport 2016-Q3
2016-08-19 - Kvartalsrapport 2016-Q2
2016-06-20 - Extra Bolagsstämma 2016
2016-05-11 - Kvartalsrapport 2016-Q1
2016-05-03 - X-dag ordinarie utdelning ELTEL 2.25 SEK
2016-05-02 - Årsstämma
2016-02-19 - Bokslutskommuniké 2015
2015-11-19 - Kvartalsrapport 2015-Q3
2015-08-20 - Kvartalsrapport 2015-Q2
2015-05-20 - X-dag ordinarie utdelning ELTEL 0.00 SEK
2015-05-19 - Kvartalsrapport 2015-Q1
2015-05-05 - Årsstämma
2015-02-20 - Bokslutskommuniké 2014

Beskrivning

LandSverige
ListaSmall Cap Stockholm
SektorIndustri
IndustriAnläggning & bygg
Eltel är verksamt inom telekommunikations- och elbranschen och erbjuder tjänster inom infrastruktur för nätverk och elkraft. Bolagets tjänster inkluderar installation, underhåll och projektledning för telekommunikation och elnät. Verksamheten riktar sig till företag och offentliga institutioner i Europa. Eltel grundades 2001 och har sitt huvudkontor i Stockholm, Sverige.
2025-02-14 08:00:00

October-December 2024

  • Net sales EUR 226.1 million (240.2), a decrease of 5.9%, mainly due to the divestment of High Voltage Poland. Organic growth1) was -2.0%, and organic growth in segments was 0.0%
  • Adjusted EBITDA EUR 14.2 million (10.2)
  • Adjusted EBITA2) EUR 5.7 million (2.8) and adjusted EBITA margin 2.5% (1.2)
  • Adjusted EBITA2) in segments EUR 8.6 million (5.0) and adjusted EBITA margin in segments 4.0% (2.3)
  • Items affecting comparability3) EUR -1.6 million (0.1)
  • Operating result (EBIT) EUR 4.2 million (2.9) and EBIT margin 1.9% (1.2)
  • Net result EUR 3.9 million (10.3)
  • Earnings per share EUR 0.02 (0.06), basic and diluted
  • Cash flow from operating activities EUR 38.9 million (39.8)

January-December 2024

  • Net sales EUR 828.7 million (850.1), a decrease of 2.5%, mainly due to the divestment of High Voltage Poland. Organic growth1) was 1.8% and organic growth in segments was 1.5%
  • Adjusted EBITDA EUR 45.2 million (31.8)
  • Adjusted EBITA2) EUR 10.5 million (1.7) and adjusted EBITA margin 1.3% (0.2)
  • Adjusted EBITA2) in segments EUR 21.1 million (11.8) and adjusted EBITA margin in segments 2.7% (1.5)
  • Items affecting comparability3) EUR -28.5 million (-7.0)
  • Operating result (EBIT) EUR -18.0 million (-5.3) and EBIT margin -2.2% (-0.6)
  • Net result EUR -29.1 million (-7.6)
  • Earnings per share EUR -0.21 (-0.07), basic and diluted
  • Cash flow from operating activities EUR 27.5 million (34.0)
  • Net debt EUR 114.0 million (100.6)

Significant events during and after the reporting period

  • During the fourth quarter, Eltel signed new contracts with a combined value of about EUR 308.0 million (134.6) and the value of the total orderbook4) was EUR 1,220 million. Read more on page 13.
  • On 15 January 2025, it was announced that Ingrid Therese Tjøsvold has been appointed Managing Director for Eltel Norway and member of the Group Management Team as of 10 February 2025.
  • On 5 and 19 December, Eltel Sweden signed two contracts with the Swedish Transport Administration, with a total value of EUR 165 million. Both contracts have a maximum duration of seven years.
  • On 20 December, it was announced that Eltel Finland and Telia in Finland have signed a three-year continuation of a current frame agreement worth about EUR 70 million.
  • On 27 December, it was announced that Eltel Norway and Avinor have signed a new contract worth up to a total EUR 20 million for the entire contract period, including five optional years.
  • On 6 February, it was announced that Eltel Finland has been selected by Taaleri Energia to construct and maintain the second largest solar park in Finland, with a contract value of EUR 73.5 million.

Key figures

EUR million

Oct-Dec 2024

Oct-Dec 2023

Jan-Dec 2024

Jan-Dec 2023

Net sales

226.1

240.2

828.7

850.1

Net sales growth, %

-5.9%

7.2%

-2.5%

3.2%

Adjusted EBITDA

14.2

10.2

45.2

31.8

Adjusted EBITA2)

5.7

2.8

10.5

1.7

Adjusted EBITA margin, %

2.5%

1.2%

1.3%

0.2%

Adjusted EBITA2), segments

8.6

5.0

21.1

11.8

Adjusted EBITA margin, % segments

4.0%

2.3%

2.7%

1.5%

Operating result (EBIT)

4.2

2.9

-18.0

-5.3

Return on operative capital employed (ROCE), %

102.4%

5.3%

102.4%

5.3%

Net working capital

-61.3

-49.8

-61.3

-49.8

Net debt

114.0

100.6

114.0

100.6

Number of employees, average

4,226

4,948

4,550

5,024

1) Organic growth is adjusted for currency effects and divestments.

2) Eltel follows the profitability of segments with adjusted EBITA, which does not include restructuring costs and other items affecting comparability. Please see pages 25-26 for definitions of the key ratios.

3) See reconciliation of segment results on page 21 for more information.

4) Total orderbook includes the committed order backlog and the best estimate for uncommitted remaining parts of frame agreements until the end of the agreement.

 

Comments by the CEO

I'm very happy to see that our efforts to improve profitability continued to deliver in the fourth quarter, with the adjusted EBITA doubling, leading to a margin of 2.5% (1.2). Q4 2024 was the sixth quarter in a row with improved adjusted EBITA for Eltel compared to the previous year.

 

The organic net sales in the segments was flat, whereas the total net sales had a decline, mainly due to the divestment of High Voltage Poland.

 

In the quarter we had an increase in both net sales and profitability in Finland and Sweden, and a strong profitability improvement in Denmark, in spite of a decrease in net sales. Our focus on operational excellence contributed heavily to improving the profitability. Broadening our customer base, particularly in public infrastructure, as well as strong progress in new and adjacent business areas, such as Solar and battery storage, continued to yield positive results within both growth and profitability.

 

In spite of a continuous wait-and-see market, our customers' confidence in us remained strong and our sales efforts resulted in a total contract value increase to EUR 308.1 million (134.6) during the quarter. Our orderbook is now at EUR 1.2 billion and I'm very confident that our positive development will continue. Two proof points of our strategy working well are that the gross profit grew with 13% in Q4 and with 21% for the full year, and that our leverage improved to 2.5, which means that we have reached this target.

 

Finland showed a strong development, especially profitability wise. Adjusted EBITA improved by EUR 3.1 million to EUR 6.3 million (3.2) and the adjusted EBITA margin was 6.2% (3.3). The growth of 3.1% was driven by Communication and especially by our fiber-to-the-home business. Profitability improved also in Power, despite an expected slight volume decline caused by an updated market regulation effective from 1 January 2024. During the quarter, the first large scale solar park, as well as the first BESS (Battery Energy Storage System) project, were finalized. At the end of the quarter, a conditional agreement was signed with Taaleri Energia regarding a turnkey contract on a very large solar park. On 6 February, the conditions had been met and we received the start order to carry out the establishment. The contract, which has a value of approximately EUR 73.5 million, also includes a substation and connection to the national grid as well as operation and maintenance of the facility, confirming Eltel's unique position as a turnkey supplier.

 

Sweden doubled its adjusted EBITA during this tenth consecutive quarter of positive adjusted EBITA. Both Communication and Power contributed to the improved profitability, especially our Smart Grids business. The growth of 5.1%, 4.8% in local currency, this quarter was related to Communication, and in particular to public infrastructure, which really started to show results this quarter.

 

Norway continued to be burdened by lower customer investments in Communication, impacting the volumes negatively, resulting in a net sales of EUR 29.8 million (33.8). From 1 January we operate in the new organization structure. The focus on margins and profitability, rather than on volumes, is continuously strong and the activity level of broadening the customer base is high, although not yet compensating for the decline in Communication. I look forward to working together with our newly appointed Managing Director Ingrid Therese Tjøsvold and the Norwegian team to develop Eltel Norway.

 

In Denmark the volume shift from Communication to Power was reflected in net sales. Power had a very strong growth but did not compensate for the decline in Communication. I'm very pleased with the strong profitability improvement in Q4 with an adjusted EBITA margin of 8.1% (4.6), especially as both Communication and Power have contributed to the margin improvement.

 

To simplify our operational structure and leverage our Danish management, we will update our segment structure from 1 January 2025. The operations in Denmark and Germany will be presented in one segment named Denmark & Germany, headed by our current Managing Director for Eltel Denmark, Claus Metzsch Jensen. Smart Grids Germany has been presented outside segments under Other business until 31 December 2024. The remaining part of the Other business and Group Functions will be combined and named as Group Support Functions. Starting from 1 January 2025 the segments will be Finland, Sweden, Denmark & Germany and Norway.

 

I want to thank all customers, colleagues, partners and investors for good collaboration and a productive 2024, where we've taken many important steps towards transforming the company. With an engaged and commercially oriented organization and a strong order book, I'm confident that we will make significant progress in 2025.

 

Håkan Dahlström, President & CEO

 

For further information, please contact:

Tarja Leikas, CFO

Phone: +358 40 730 77 62, tarja.leikas@eltelnetworks.com

Alexandra Kärnlund, Director, Communications

Phone: +46 70 910 0903, alexandra.karnlund@eltelnetworks.com

 

This information is information that Eltel AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 14 February 2025.

 

About Eltel

Eltel is the leading service provider for critical infrastructure in the Nordics.  In total, we have about 4,500 employees and in 2024 the annual sales was EUR 828.7 million. The head office is located in Sweden and Eltel's shares have been listed on Nasdaq Stockholm since 2015. Read more at www.eltelnetworks.com.