Slide 1: Eltel AB Q1 2025 presentation
Eltel AB Q1 2025 presentation 30 April 2025 1
Slide 2: Today's presenters
Today’s presenters Håkan Dahlström Tarja Leikas Alexandra Kärnlund President and CEO CFO Communications Director 2
Slide 3: Financial highlights Q1 2025
Financial highlights Q1 2025 Net sales M€ M€ 250 860 Strong Q1 with major profitability improvement 220 830 190 800 160 770 • Organic net sales growth was 0.6% 130 740 100 710 • Gross profit improved by 20% to EUR 22.2 million (18.5) Q2 Q3 Q4 Q1 24 24 24 25 • LTM Gross Profit improved from EUR 83.8
Slide 4: Operational highlights Q1 2025
Operational highlights Q1 2025 1. Progress in strategy execution: • First solar park in Sweden in production and first solar park in Denmark finalized, and deliveries run according to plan into the second largest (129 MWP) park in Finland • First BESS (Battery Energy Storage Systems) delivery in Fin
Slide 5: Total Group
Total Group Net sales Q1 2025 Adjusted EBITA Q1 2025 Net sales Net sales change by M€ M€ M€ segment • Good progress in new business, share of • Major profitability improvement 250 860 185 total increased to 6.0% (2.0%) • Gross profit improved to EUR 22.2 million (18.5) 220 830 180 176.3 3.3 0.1 • Or
Slide 6: Adjusted EBITA and Gross Profit (LTM)
Adjusted EBITA and Gross Profit (LTM) Adjusted EBITA Gross Profit 17 2.0 % 100 12.0 % 1.5 % 12 90 11.0 % 1.0 % 7 80 10.0 % 0.5 % 2 70 9.0 % 0.0 % -3 60 8.0 % -0.5 % -8 -1.0 % 50 7.0 % Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Adjusted EBITA, LTM
Slide 7: Finland
Finland M€ Net sales M€ 110 360 90 350 Net sales Q1 2025 Adjusted EBITA Q1 2025 • Net sales decreased by EUR 0.3 million • Major profitability improvement in both 70 340 business areas • The decline mainly in Communication (FTTH) 50 330 • Adjusted EBITA EUR 1.7 million (-0.3) • Strong growth in gree
Slide 8: Sweden
Sweden M€ Net sales M€ 65 220 Net sales Q1 2025 Adjusted EBITA Q1 2025 50 210 • Solid 6.5% net sales growth • Major profitability improvement, 12th • Increase of EUR 3.3 million to EUR 53.1 million consecutive YoY adjusted EBITA improvement 35 200 (49.8) quarter • Good public infra driven growth in
Slide 9: Denmark & Germany
Denmark & Germany M€ Net sales M€ 40 135 30 130 Net sales Q1 2025 Adjusted EBITA Q1 2025 • Net sales increased to EUR 30.5 million (30.4) • Major profitability improvement 20 125 • Power growth both in Denmark and Germany • Adjusted EBITA EUR 2.4 million (1.3) 10 120 • Communication facing a decline
Slide 10: Norway
Norway M€ Net sales M€ 40 200 Net sales Q1 2025 Adjusted EBITA Q1 2025 30 150 • Net sales decreased by EUR 2.4 million • Adjusted EBITA decreased by EUR 0.2 million 20 100 • Traditional telecommunication • Slight improvement towards the end of the investments continued to remain on low quarter 10 50
Slide 11: Group balance sheet
Group balance sheet Leverage M€ Net debt M€ Net working capital 7 180 40 160 6 20 140 5 0 120 4 100 -20 3 80 -40 60 2 -60 40 1 -80 20 0 0 -100 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Leverage: Net debt/Adjusted EBITDA. Eltel’s leverage target b
Slide 12: Eltel Group financial targets
Eltel Group financial targets Profitability • Group adjusted EBITA margin 5% Growth • Annual growth 2–4% Leverage • 1.5–2.5x net debt/adjusted EBITDA Dividend payout • Subject to leverage target 12
Slide 13: Our strategy in short
Our strategy in short • Improve efficiency and profitability of the current • Integrate sustainability as part of our offerings and business operations • Broaden the customer base • Develop our concepts and commercial capabilities • Grow in new and adjacent markets, such as renewable energy 13
Slide 14: Progress in strategy execution
Progress in strategy execution Pipeline Pipeline Improved profitability and financial position 38% 39% • Gross profit improvement YoY: EUR 22.2 million (18.5) • NWC improvement: EUR -76.3 million (-59.0) Q1 2025 Q1 2024 • Leverage at 2.1 (3.5) in Q1, in line with target 62% 61% Broadened customer ba
Slide 15: Questions
Questions Next report Q2 2025: 24 July 2025 15