Eltel

We view the in-line Q3 margin, despite lower revenue, as a sign of higher resilience and further proof that Eltel’s operational and commercial efficiency measures are delivering results.

16:47

Eltel published its third-quarter report today, showing negative organic growth, while the EBITA margin was in line with our analyst expectations. Listen to the interview with CEO Håkan Dahlström, where he discusses the Q3 figures, his thoughts on 2025 in general, and what to expect in 2026.

We expect Sweden to continue showing good momentum in public infrastructure projects and solid growth in Finland’s Power segment.

Eltel has continued its gradual turnaround journey, showing tangible profitability improvements while maintaining a strong position in core markets and expanding into new market segments

The signed frame agreement supports our estimates for the stability of the core business and does not have a direct impact on our forecasts or view on the company

Eltel’s Q2 report was softer than expected across the board. While profitability continued to improve year-on-year, the decline in revenue was somewhat unexpected, and the total contract value came in light.

14:05

Listen to Eltel CEO Håkan Dahlström as he reflects on the Q2 results and shares his outlook for the second half of 2025. What does the demand landscape look like — and where is there still room for improvement?

We expect modest top-line growth alongside an improved EBITA margin, driven by overall cost efficiencies and a strengthening gross margin