Eltel Ab · OMXSTO:ELTEL
Eltel Ab — Q2 2026 Earnings Presentation
18 slides from Eltel Ab's earnings presentation, Jul 21, 2026
Slide 1: Eltel AB Q2 presentation 2026
Eltel AB Q2 presentation 2026 21 July 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 2025 services communication 45% Upgrade services • Power transmission and distribution 27% Maintenance services • Smart meters 28% Installation delivery • Private networks Cust
Slide 4: Continued profitability improvement and large contract awards
Continued profitability improvement and large contract awards Best second quarter in a decade Financial • 5.5 million adjusted EBITA (2.5) • Twelve consecutive quarters of improved adjusted EBITA • Norway, Finland and Sweden contributed • Norway improved profitability for the fifth quarter in a row,
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 • Decreased 0.7% to EUR 199.6 million • Twelfth consecutive quarter of year-on- 100 700 (201.0) year profitability improvement 50 650 o Norway and Swe
Slide 6: Adjusted EBITA & Gross profit (LTM)
Adjusted EBITA & Gross profit (LTM) Adjusted EBITA Gross Profit 40 4% 110 15% 30 3% 100 12% 20 2% 90 9% 10 1% 80 6% 0 0% 70 3% -10 -1% 60 0% Adjusted EBITA, LTM Adjusted EBITA, margin %, LTM Gross Profit, LTM Gross margin %, LTM 6
Slide 7: Finland
Finland Communication M€ Net sales M€ 110 370 Net sales 28% • Net sales declined EUR 2 million 90 360 • Growth in Power, particularly within Emerging Services 70 350 • Normalized FTTH volumes in Communication 50 340 Power 30 330 Q3 Q4 Q1 Q2 Adjusted EBITA 25 25 26 26 • Major profitability improvemen
Slide 8: Sweden
Sweden Communication M€ Net sales M€ Net sales 90% 80 245 • Slight increase in Net sales driven by higher 65 230 volumes in telecommunications, public 50 infrastructure and defense sector 215 • Power decline following Smart meters and Solar Power 35 PV project closings 20 200 Q3 Q4 Q1 Q2 25 25 26 26
Slide 9: Denmark & Germany
Denmark & Germany Communication M€ Net sales M€ 40 130 Net sales 32% • Net sales declined EUR 1.7million 30 125 • Continued volume decline in Communication 20 120 • Good growth in Smart meters and Public infrastucture 10 115 Power • Power grid connection bottlenecks lead to delays in 0 110 renewable
Slide 10: Norway
Norway Communication M€ Net sales M€ 30 120 Net sales 91% • Net sales increased EUR 1.7 million 20 80 • Growth in Emerging Services, particularly Data Center Solutions 10 40 • Decline in Communication continued Power • Successful customer base expansion continues 0 0 Q3 Q4 Q1 Q2 Adjusted EBITA 25 25
Slide 11: Solid financial position
Solid financial position Group balance sheet impacted by the strong growth, full debt portfolio refinancing and tax deferral repayment Leverage M€ Net debt M€ Net working capital 6 180 0 -10 5 150 -20 4 120 -30 3 90 -40 2 60 -50 -60 1 30 -70 0 0 -80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025
Slide 12: On track towards financial targets
On track towards financial targets Eltel Group financial targets Targets Q2 2025* Q2 2026* Profitability 5% Group adjusted EBITA margin 2.2% 3.1% Growth 2–4% Annual growth -4.6% 3.8% Leverage 1.5–2.5x net debt/adjusted EBITDA 2.8 3.1 *Rolling 12 months 12
Slide 13: Megatrends driving Eltel's long-term growth
Megatrends driving Eltel’s long-term growth Opportunities for Eltel Digitalization Expansion in data centers and connectivity Power grid expansion Electrification Critical e-Charging infrastructure is more critical than ever Growth in renewable energy Climate change and energy storage Inve
Slide 14: Progress in strategy execution
Progress in strategy execution Emerging services share Improved profit margins by operational and commercial excellence Q2 2025 Q2 2026 • Gross profit improvement YoY: EUR 24.7 million (22.5) • Adjusted EBITA more than doubled to EUR 5.5 million (2.5) Pipeline 49% 52% Customer expansion in our Class
Slide 15: Welcome to Eltel's Capital Markets Day
Welcome to Eltel's Capital Markets Day! 17 November at 1 PM 15
Slide 16: Questions?
Y om aT SATO te ts — ? Questions
Slide 17: Thank you!
Thank you! Next report, Q3 2026: Questions? 29 October Capital Markets Day: Next report 17 November Q3 2026: 29 October026 17
Slide 18: ELTEL
ELTEL