Eltel operates in the telecommunications and electricity industries and offers services in infrastructure for networks and electricity. The company's services include installation, maintenance and project management for telecommunications and electricity networks. The business is aimed at companies and public institutions in Europe. Eltel was founded in 2001 and is headquartered in Stockholm, Sweden.
Eltel's Q1'26 report came in well above our estimates on both top and bottom line, demonstrating that the turnaround trajectory not only remains intact, but is progressing faster than we projected.
* Strong growth and continued margin improvement * We raise '26e EBITA by 9%, '27e-'28e by 6% each * 9x '26e EV/EBITA, 6-11% '26e-'27e lease-adj. FCF yields An impressive showing given negative seasonality Eltel reported Q1 net sales of EUR 191m (+7%...
We view the agreement positively as it builds upon an existing strategic relationship and provides increased visibility for Eltel’s Finnish operations through 2029.
* Q1e: a seasonally small quarter, but positive y-o-y trend * We make only minor estimate revisions * Share trading at 10-8x '26e-'27e EV/EBITA Q1e: seasonally small, but y-o-y improvement expected We expect Eltel to report Q1 net sales of EUR 178m, ...
While Q1 is seasonally the quietest period for Eltel due to weather conditions affecting construction activity, we anticipate that strong momentum in the Swedish market and growth in new business areas, such as data centers and solar PV, will support modest top-line growth.
* Substantial margin-driven EBITA beat * We raise EBITA by 6-5% for '26e-'27e * Balance sheet soon supportive of dividends, in our view A margin-driven earnings beat Eltel reported Q4 net sales of EUR 239m (+6% vs. ABGSCe) and EBITA of EUR 8.3m (+31%...
Eltel's finished 2025 on a high note, with Q4 revenue coming in 4% above our estimates and margins continuing their year-on-year improvement for the tenth consecutive quarter.
Eltel released its Q4 report today, showing 4% organic growth. In this interview, CEO Håkan Dahlström shares his insights on the full-year 2025 results...