Press releases

December 2016

Eltel’s power distribution business and Finnish Caruna have signed a new frame agreement for cabling projects in Finland

Eltel and Finnish power distribution system operator Caruna Oy have signed a three-year frame agreement to improve the medium voltage power distribution network in central and southwestern regions of Finland....

Eltel signs agreement with its banks on temporary reset of financial covenant levels

Eltel has signed an amendment agreement of its existing financing agreement with its banks on temporary resetting of the leverage covenant covering the time period from the fourth quarter 2016 until the...

Eltel decides on immediate operational actions in its project business

Eltel’s previously communicated ongoing operational review of its project business, following performance deviations during 2016, has now resulted in several decided immediate actions. These actions, t...

November 2016

Eltel appoints Lars Nilsson as interim CFO

Eltel AB’s CFO Gert Sköld is due to excessive workload in recent months on temporary leave of absence to recover. Eltel has hired Mr Lars Nilsson (60) as the interim CFO during Mr Sköld’s leave of absen...

Eltel builds a wireless system for energy consumption control in Denmark

Eltel has signed a contract with the utility Frederiksberg Forsyning A/S in Copenhagen to build a wireless network for remote control of energy consumption meters for gas, electricity and heating. As part...

Eltel Group: Interim Report January–September 2016

Net sales amounted to EUR 1,012.7 million (857.6), up 20.6% in local currencies, organic net sales increased by 3.5%*. Operative EBITA amounted to EUR 16.7 million (41.7) or 1.6% of net sales (4.9)

Ulf Lundahl to take over as chairman of Eltel AB’s Board of Directors

Eltel’s chairman of the Board of Directors, Mr Gerard Mohr, has decided to step down from his position and leave the Board of Directors with immediate effect. The Board of Directors has elected Mr Ulf L...

Eltel’s fixed communication business has agreed on the extension of its contract with Trafikverket in Sweden

Eltel’s fixed communication business has signed a one-year extension of its current agreement with Trafikverket (Swedish Transport Administration). The value of the contract extension is approximately E...

Eltel’s power distribution business wins a new wind power contract in Finland

Eltel’s power distribution business has won a new contract with Suomen Hyötytuuli Oy to act as the prime contractor to build the infrastructure for a ten turbine wind power park in Raahe in Northern Fi...

Eltel wins Huawei’s European Health & Safety Award 2016

Eltel has won Huawei’s European Health & Safety Award 2016. The announcement was made at Huawei’s Europe Partner Convention 2016 in Dusseldorf in October 2016. Huawei is one of the world’s leading provi...

October 2016

Invitation to Eltel’s third quarter 2016 interim report presentation

Eltel will publish its interim report for the third quarter 2016 on Wednesday 9 November 2016 at approximately 8.00 am CET. Eltel’s CEO Håkan Kirstein and CFO Gert Sköld will host a presentation via aud...

Correction: Eltel’s Nomination Committee composition for the AGM 2017

Correction: Marianne Flink is the representative of Swedbank Robur Fonder AB.

Eltel’s Nomination Committee composition for the AGM 2017

The Nomination Committee of Eltel AB consists of the representatives of the four largest shareholders registered in the shareholders’ register of the company on 31 August 2016.

Eltel’s third quarter and full-year 2016 result significantly impacted by previously communicated challenges in certain projects

During 2016, Eltel has successively communicated increased market related as well as operational challenges especially in certain projects within power transmission and rail and road. These challenges...

Eltel AB – share purchase for long term incentive programme 2016 completed

After the successful subscription of Eltel's long term incentive programme 2016 (LTIP 2016), approved by the Extraordinary General Meeting in June and initiated in the second quarter 2016, the shares...

September 2016

Eltel’s power distribution business wins a three-year contract in Finland at a value of approximately EUR 18 million

Eltel has signed a three-year contract with Elenia Oy to build and maintain their distribution network in Finland. The value of the contract is estimated to be approximately EUR 18 million and the contract...

Change to Eltel’s Group Management Team – Henrik Sundell appointed as General Counsel

Henrik Sundell has been appointed as General Counsel and a member of the Group Management Team at Eltel as of 1 October 2016. Henrik Sundell will report to Eltel’s President and CEO Håkan Kirstein. Pr...

High participation rate in Eltel’s long-term incentive programme 2016

The subscription period for Eltel’s long-term incentive programme 2016 (LTIP 2016), approved by the Group’s Extraordinary General Meeting held on 20 June 2016, took place in August 2016 and the interest in ...

August 2016

Eltel technicians restoring power in Finland after “Rauli” storm

The “Rauli” storm moved through Finland during the weekend and it was one of the most massive summer storms in many years. The strong storm wind caused massive power outages and almost 200,000 households wen...

Håkan Kirstein appointed as Eltel’s new CEO

Eltel’s Board of Directors has appointed Håkan Kirstein as Eltel’s new President and Chief Executive Officer. He will commence in his new position on 19 September 2016.

Eltel’s power transmission business wins five new contracts in Finland at a total value of approximately EUR 18 million

Eltel has recently signed five new substation and overhead line contracts in Finland with Fingrid, Caruna and Elenia, respectively. The total value of the contracts amounts to approximately EUR 18 million....

Eltel Group: Interim Report January–June 2016

January–June 2016. Net sales amounted to EUR 656.6 million (546.8), up 23.0% in local currencies, organic net sales increased by 3.2%*. Operative EBITA amounted to EUR 8.9 million (19.2) or 1.4% of net s...

Eltel’s second quarter 2016 results to be impacted by a EUR 10 million provision in one rail project in Norway

During delivery inspections of a rail project in Norway unsatisfactory technical quality in work execution have been identified and a significant amount of additional work to finalise the project is consequently...

Eltel wins a power transmission contract in the UK at a value of almost EUR 45 million

Eltel’s 50/50 joint venture Carillion-Eltel in the UK has signed a power transmission contract for the design, procurement and construction of a new overhead line for National Grid in the UK. The total v...

Invitation to Eltel’s second quarter 2016 interim report presentation

Eltel will publish its interim report for the second quarter 2016 on Friday 19 August 2016 at approximately 8.00 am CET. Eltel’s CEO Axel Hjärne and CFO Gert Sköld will host a presentation via audiocast in ...

Eltel’s power transmission business wins a contract with Statnett in Norway at a value of approximately EUR 50 million

Eltel has won a new contract for building of a 420 kV transmission line for Statnett in Finnmark in Norway. This is the second major contract for Eltel in Norway this year and it further confirms Eltel’s am...

July 2016

Eltel’s mobile communication business strengthens its position in the German market in a new frame agreement with Huawei

Since almost ten years Eltel has been a trusted partner for Huawei in several of its European markets. Eltel has now signed a new three-year frame agreement with Huawei to implement LTE and modernisation...

June 2016

Eltel’s transport and security business signs a EUR 16 million maintenance agreement with Banedanmark in Denmark

Eltel has signed an agreement with Banedanmark regarding operation, support and maintenance of network installations and technical IT systems. The contract period starts in October 2016 and runs for a...

Resolutions by Eltel’s Extraordinary General Meeting 2016

On Monday 20 June 2016 Eltel AB held an Extraordinary General Meeting (EGM) at Eltel’s headquarters in Stockholm.

CEO Axel Hjärne to leave Eltel

The CEO of Eltel, Axel Hjärne, has decided to leave his position. Axel Hjärne has been with Eltel for twelve years, and he has been CEO for the last seven years. Over these years Eltel has grown significantly f...

May 2016

Notice to Eltel AB’s Extraordinary General Meeting

The shareholders of Eltel AB (publ) (company register number 556728-6652) are hereby invited to an Extraordinary General Meeting to be held on Monday 20 June 2016 at 13.00 CET.

Eltel Group: Interim Report January–March 2016

January–March 2016. Net sales amounted to EUR 287.5 million (239.0), up 23.2%* in local currencies, organic net sales decreased by 0.4%*. Operative EBITA amounted to EUR 3.2 million (5.3) or 1.1% of n...

Invitation to Eltel’s first quarter 2016 interim report presentation

Eltel will publish its interim report for the first quarter 2016 on Wednesday 11 May 2016 at approximately 8.00 am CET. Eltel’s CEO Axel Hjärne and CFO Gert Sköld will host a presentation in English sta...

Resolutions by Eltel’s 2016 Annual General Meeting

On Monday 2 may 2016 Eltel AB held its 2016 Annual General Meeting (AGM) at Eltel’s headquarters in Stockholm.

Eltel closes acquisitions with U-SERV and EVB in the German platform for smart metering business

Eltel has completed the previously announced acquisitions of U-SERV GmbH and the metering related field operations of EVB Billing und Services GmbH. By the acquisition of U-SERV Eltel becomes the 100%...

Finnish Competition and Consumer Authority appeals against the decision of the Market Court

On 30 March 2016, the Market Court in Finland dismissed as time barred the allegations by the Finnish Competition and Consumer Authority (FCCA) that Eltel would have violated competition law. The allegations...

April 2016

Eltel acquires a platform for expansion of smart metering in Germany

Eltel’s power distribution business acquires the metering service company U-SERV Eltel has today signed a contract to acquire U-SERV GmbH, a company operating in the electricity and gas metering sector i...

Eltel signs a renewal of a fibre build and maintenance agreement with TDC Group in Denmark for three years at a value of approximately EUR 50 million

Eltel, as a partner in a joint venture with two other companies, has signed a new three-year agreement to build and maintain the fibre network of TDC Group in Denmark. The estimated value of Eltel’s s...

Nomination Committee of Eltel AB proposes Gunilla Fransson as new board member and revises its proposals for AGM 2016 concerning members of the Board

The Nomination Committee of Eltel AB has unanimously resolved to propose Gunilla Fransson as new board member of Eltel AB. On 29 March 2016, the Nomination Committee announced its proposals for the Annual...

Eltel has published the Annual Report 2015 and the Corporate Governance Report 2015

Eltel has today published its Annual Report 2015 on the company’s website https://www.eltelgroup.com/en/eltel-annual-report-2015/. The Report is available in Swedish and English. The printed copies o...

Eltel AB issues new class C shares at quota value

The Board of Directors of Eltel AB (publ.) has decided to issue 537,000 class C shares and exercise its repurchase authorisation to secure Eltel’s obligations under its Long Term Incentive Programme 2...

Eltel’s rail and road business buys Celer Oy – a signalling services company in Finland

Eltel is expanding its railway signalling services business further and acquires Celer Oy, a Finnish signalling services company. Celer is a well recognised player in the Finnish railway market with an...

March 2016

Market Court in Finland dismisses allegations of Eltel’s competition law violation as time barred

The Market Court in Finland has on 30 March 2016 dismissed as time barred the allegations of Eltel's competition law violations in its power transmission line construction business in Finland. The Finnish...

Correction: Notice to the Annual General Meeting 2016 in Eltel AB

Correction: Håkan Kirstein is currently a member of the Board of Directors of Axis AB. Håkan Kirstein has previously been acting CEO of Imtech Nordic AB, CEO of StatoilHydro Sverige AB and Niscayah Group A...

Notice to the Annual General Meeting 2016 in Eltel AB

The shareholders of Eltel AB (publ) (company register number 556728-6652) are hereby invited to the Annual General Meeting to be held on Monday 2 May 2016 at 10.00 CET. 

Eltel’s power transmission business wins its first substation contract with Statnett in Norway

Eltel has won a substation contract for a turnkey delivery of a new 420 kV substation for Statnett in Norway. The contract is another important step in strengthening Eltel’s position in the 420 kV Nordic s...

Change in the composition of Eltel’s Nomination Committee

Following the recent change in the ownership of Eltel AB, the composition of Eltel's Nomination Committee has changed. As of 25 February 2016, the four largest shareholders of Eltel are: Zeres Capital,...

February 2016

Eltel’s Sustainability Review 2015 published

Eltel has today published its Sustainability Review 2015.

Eltel Group: Full-year report January–December 2015

January - December 2015. Net sales EUR 1,254.9 million (1,242.1), at comparable exchange rates up 2.9%*; organic net sales increased 4.5%*. Operative EBITA EUR 62.2 million (61.3) or 5.0% of net sales...

Eltel wins two major power transmission contracts in Poland at a value of approximately EUR 25 million

Eltel has signed two power transmission contracts for reconstruction of high voltage substations with the Polish transmission grid operator, PSE S.A.. The projects are in the Jasiniec and Joachimow regions...

Invitation to Eltel’s full year and fourth quarter 2015 interim report presentation

Eltel will publish its full year report and interim report for the fourth quarter 2015 on Friday 19 February 2016 at approximately 08.00 am CET. Eltel’s CEO Axel Hjärne and CFO Gert Sköld will host a p...

January 2016

Eltel’s fixed communication business signs a new EUR 15 million three-year frame agreement with DNA in Finland

Eltel has signed a new three year frame agreement with DNA, a Finnish telecommunications operator. The new agreement will increase Eltel’s market share in the fixed communication business in Finland. T...

Eltel’s power transmission business wins a EUR 13 million substation contract with E.ON in Sweden

Eltel has won a contract for a full rebuild of the two substations Söderåsen and Mörarp of E.ON Elnät Sverige AB. The value of this contract is approximately EUR 13 million. This contract is an important fur...