Eltel Ab · OMXSTO:ELTEL
Eltel Ab — Q3 2026 Earnings Presentation
19 slides from Eltel Ab's earnings presentation, Oct 29, 2026
Slide 1: Eltel AB Q3 presentation 2026
Eltel AB Q3 presentation 2026 29 October 2026 1
Slide 2: Today's presenters
Today’s presenters Håkan Dahlström Tarja Leikas Alexandra Kärnlund President and CEO CFO Communications Director 2
Slide 3: We are Eltel - The leading Nordic service provider in critical infrastructure
We are Eltel - The leading Nordic service provider in critical infrastructure Classic • Fixed and mobile Share of net sales 2026 YTD services communication 43% Upgrade services • Power transmission and distribution 27% Maintenance services • Smart meters 30% Installation delivery • Private networks
Slide 4: Highest profitability since 2015 and several major contract wins
Highest profitability since 2015 and several major contract wins Financial highlights • Adjusted EBITA margin 5.6% (4.3) – Finland ≥10% • Thirteen consecutive quarters of improved profitability • Cash flow improved to EUR 0.5 million (-19.1) Q3 in short • Record high orderbook value EUR 1.7 billion
Slide 5: Eltel Group
Eltel Group Continued profitability improvement and large contract awards Net sales M€ M€ 250 850 200 800 Group net sales Group profitability 150 750 • Net sales EUR 196.2 million, down • Adjusted EBITA EUR 11.0 million (9.1), 100 700 5.8% margin 5.6% (4.3%) 50 650 • Record total orderbook of EUR 1.
Slide 6: Finland
Finland Communication M€ Net sales M€ 110 370 Net sales 31% • Net sales down 8.9% due to lower FTTH volumes 90 360 • Strengthened position and good progress in data 70 350 centers 50 340 Power 30 330 Q4 Q1 Q2 Q3 Adjusted EBITA 25 26 26 26 Net sales, quarterly, previous year • Adjusted EBITA EUR 9.6
Slide 7: Sweden
Sweden Communication M€ Net sales M€ 80 260 Net sales 91% 65 245 • Net sales down 4.9% • Lower Power volumes due to project closures weighed 50 230 on net sales 35 215 • Telecom, public infrastructure and defense growth Power 20 200 • Vattenfall appeal process completed, and largest-ever Q4 Q1 Q2 Q3
Slide 8: Denmark & Germany
Denmark & Germany Communication Net sales M€ M€ 40 130 Net sales • Net sales down 7.0% 32% 30 125 • Challenging market conditions in Communication and Power 20 120 • Smart Meter business remained strong • Acquired EWII street lighting business 10 115 Power • Won EUR 73 million KONSTANT framework agr
Slide 9: Norway
Norway Communication M€ Net sales M€ 30 120 Net sales 91% • Net sales up 3.7% in reporting currency 20 80 • Lower telecom volumes continued to pressure revenue 10 40 • Emerging services continued to grow • A landmark long-term partnership with Telenor Norway Power 0 0 Q4 Q1 Q2 Q3 Adjusted EBITA 25 2
Slide 10: Adjusted EBITA & Gross profit (LTM)
Adjusted EBITA & Gross profit (LTM) Adjusted EBITA Gross profit 40 4% 110 14% 30 3% 100 12% 20 2% 90 10% 10 1% 80 8% 0 0% 70 6% Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Adjusted EBITA, LTM Adjusted
Slide 11: Solid financial position
Solid financial position Leverage M€ Net debt M€ Net working capital 4 180 0 -10 150 3 -20 120 -30 2 90 -40 60 -50 1 -60 30 -70 0 0 -80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 2026 2023 2024 2025 2026 2023 2024 2025 2026 Leverage: Net debt/Adjusted EBITDA. Net debt: Interest bearing debt
Slide 12: On track towards financial targets
On track towards financial targets Eltel Group financial targets Targets Q3 2025* Q3 2026* Profitability 5% Group adjusted EBITA margin 2.3% 3.4% Growth 2–4% Annual growth -4.5% 2.6% Leverage 1.5–2.5x net debt/adjusted EBITDA 3.5 3.1 12 *Rolling 12 months
Slide 13: Progress in strategy execution
Progress in strategy execution Emerging services share Improved profit margins by operational and commercial excellence Q3 2025 Q3 2026 • Adjusted EBITA EUR 11.0 million (9.1) • Adjusted EBITA margin 5.6% (4.3%) Pipeline 50% 51% Customer expansion in our Classic services portfolio • Continued high d
Slide 14: Revenue opportunities across the data center lifecycle - from grid to chip
Revenue opportunities across the data center lifecycle - from grid to chip Installation Design, installation and commissioning Upgrades To increase capacity, performance and efficiency Service and maintenance Technical support, inspections and repairs. Long-term service and maintenance agreements Si
Slide 15: Delivering critical infrastructure for leading developers
Data center solutions – Key growth area Delivering critical infrastructure for leading developers Site infrastructure: Established a strong market position in power connection and connectivity infrastructure. Several completed and ongoing projects in Finland Grey space: Utilizing power and cabling c
Slide 16: Capital Markets Day 2026
Capital Markets Day 2026 November 17 at 13.00 CET ELPEL Hakan Dahlstrém President and CEO Klas Elmberg Managing Director, Eltel Sweden Tarja Leikas CFO Ingrid Tjgsvold Managing Director, Eltel Norway Juha Luusua Managing Director, Eltel Finland Yathkulan Kankesan Managing Director, Eltel Denmark
Slide 17: Questions?
to (CRM BAAN SAA PRR EE BE eee tore ? Questions
Slide 18: Thank you!
Thank you! Next report • Full-year report January–December 2026: 12 February • Capital Markets Day: 17 November 18
Slide 19: ELTEL
ELTEL