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Eltel
7.56 SEK +3.56%Eltel is a service provider for communication and power networks. Operations are conducted in the Nordic countries, Poland, Germany and Lithuania within country-based organizations. Within Power, Eltel provides maintenance of power grids, upgrades and project work to national transmission system operators and distribution network owners. Within Communication, Eltel provides similar services to telecom operators and other owners of communication networks. The head office is located in Sweden.
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Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Triton | 16.0 % | 16.4 % |
Wipunen varainhallinta Oy | 14.0 % | 14.3 % |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 938.0 | 812.6 | 823.6 | 850.2 | 832.7 | 860.9 | 895.5 | 921.8 |
growth-% | -13.8 % | -13.4 % | 1.4 % | 3.2 % | -2.1 % | 3.4 % | 4.0 % | 2.9 % |
EBITDA | 63.0 | 46.5 | 27.8 | 24.8 | 18.6 | 50.5 | 54.6 | 58.6 |
EBIT (adj.) | 11.4 | 14.8 | -1.9 | 1.7 | 11.7 | 20.4 | 25.2 | 29.4 |
EBIT | 24.8 | 14.5 | -2.0 | -5.3 | -11.5 | 20.4 | 25.2 | 29.4 |
Profit before taxes | 15.0 | 8.7 | -11.4 | -18.0 | -23.2 | 10.2 | 15.2 | 19.4 |
Net income | 4.7 | 4.3 | -15.0 | -10.4 | -27.7 | 4.6 | 10.3 | 15.3 |
EPS (adj.) | -0.06 | 0.03 | -0.10 | -0.02 | -0.03 | 0.03 | 0.07 | 0.10 |
growth-% | -424.4 % | 124.0 % | 48.6 % | |||||
Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Dividend ratio |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 6.7 % | 5.7 % | 3.4 % | 2.9 % | 2.2 % | 5.9 % | 6.1 % | 6.4 % |
EBIT-% (adj.) | 1.2 % | 1.8 % | -0.2 % | 0.2 % | 1.4 % | 2.4 % | 2.8 % | 3.2 % |
EBIT-% | 2.6 % | 1.8 % | -0.2 % | -0.6 % | -1.4 % | 2.4 % | 2.8 % | 3.2 % |
ROE | 2.2 % | 2.0 % | -7.1 % | -5.0 % | -13.7 % | 2.4 % | 5.6 % | 8.3 % |
ROI | 5.8 % | 3.9 % | -0.5 % | -1.4 % | -3.4 % | 6.1 % | 7.6 % | 8.9 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 2.23 | 1.51 | 0.75 | 0.60 | 0.67 | 0.67 | 0.67 | 0.67 |
Shares | 156.6 | 156.6 | 156.7 | 156.7 | 156.7 | 156.7 | 156.7 | 156.7 |
Market cap | 349.3 | 236.5 | 117.6 | 94.0 | 104.3 | 104.3 | 104.3 | 104.3 |
Enterprise value | 473.9 | 358.3 | 242.6 | 219.2 | 239.1 | 231.2 | 218.5 | 202.0 |
EV/S | 0.5 | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 |
EV/EBITDA | 7.5 | 7.7 | 8.7 | 8.9 | 12.8 | 4.6 | 4.0 | 3.4 |
EV/EBIT (adj.) | 41.6 | 24.2 | - | 132.9 | 20.4 | 11.4 | 8.7 | 6.9 |
EV/EBIT | 19.1 | 24.7 | - | - | - | 11.4 | 8.7 | 6.9 |
P/E (adj.) | - | 51.5 | - | - | - | 22.6 | 10.1 | 6.8 |
P/E | 74.3 | 55.1 | - | - | - | 22.6 | 10.1 | 6.8 |
P/B | 1.7 | 1.1 | 0.6 | 0.4 | 0.6 | 0.5 | 0.6 | 0.5 |
P/S | 0.4 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividend yield | ||||||||
Equity ratio | 34.0 % | 38.3 % | 37.0 % | 39.6 % | 37.0 % | 37.5 % | 34.2 % | 36.6 % |
Gearing ratio | 56.8 % | 53.4 % | 59.2 % | 44.8 % | 56.0 % | 50.8 % | 61.4 % | 48.5 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 208.1 | 213.4 | 240.3 | 850.2 | 176.3 | 210.6 | 209.4 | 236.5 | 832.7 |
EBITDA | 5.6 | 12.7 | 10.3 | 24.8 | -19.6 | 10.2 | 15.2 | 12.9 | 18.6 |
EBIT | -1.5 | 5.0 | 2.9 | -5.3 | -27.2 | 2.7 | 7.7 | 5.4 | -11.5 |
Profit before taxes | -4.6 | 1.9 | -0.8 | -18.0 | -30.2 | -0.5 | 5.0 | 2.6 | -23.2 |
Net income | -5.3 | 0.7 | 9.3 | -10.4 | -31.3 | -1.4 | 3.7 | 1.3 | -27.7 |
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![Eltel, Webcast with teleconference, Q2'24](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/e4cadfae-5ddd-47be-8c32-c24de8072da6.png)
Eltel renewed its frame agreement with Elisa in Finland
ELTEL: Eltel and Elisa renews important frame agreement in Finland
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Eltel signs a three-year frame agreement with Telenor
ELTEL: Eltel signs a three-year telecom frame agreement with Telenor in Norway
Eltel finalized the divestment of High Voltage Poland
ELTEL: Divestment of High Voltage Poland finalized
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Eltel: Power and communication networks in the Nordics
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Eltel initiation of coverage: Green transition enabler seeking a turnaround
ELTEL: Resolutions by Eltel AB's Annual General Meeting 2024
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Eltel Q1´24: Focus on strategy implementation & profitability
![Eltel, Webcast with teleconference, Q1, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/1113a815-a4a5-42d0-b533-321927e132ed.png)
Eltel, Webcast with teleconference, Q1, 2024
ELTEL: Eltel Group: Interim report January-March 2024
ELTEL: Invitation to Eltel's Q1 2024 report presentation
ELTEL: Notice to the Annual General Meeting 2024 in Eltel AB
ELTEL: Eltel divests its High Voltage business in Poland
ELTEL: Eltel publishes Annual and Sustainability Report 2023
ELTEL: Change in Eltel's Group Management Team - Alexandra Kärnlund new Director of Communications
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