Eltel
6.66
SEK
-0.6 %
ELTEL
NASDAQ Stockholm
Industrial Goods & Services
Industrials
26 following
-0.6%
-0.3%
-8.01%
-7.24%
-3.2%
-0.6%
-13.28%
-58.06%
-66.87%
-84.71%
www.eltelgroup.com/sv/investerare
Eltel is a provider of technical services for the energy and communications sector. The greatest focus is on the repair and development of transmission systems, infrastructure and networks. The business is run via most business segments on a global level. The largest operations are in the Nordic market. The company was formed in 2004 through a merger of Swedia Networks and Eltel Networks. The head office is located in Stockholm.
P/E (adj.) (24e)
-11.29
EV/EBIT (adj.) (24e)
24.13
P/B (24e)
0.5
Dividend yield-% (24e)
-
Target price
7.20 SEK
Recommendation
Reduce
Updated
1.11.2024
NASDAQ Stockholm
ELTEL
Daily low / high price
6.66 / 6.66
SEK
Market cap
1.07B SEK
Turnover
6.66K SEK
Volume
1K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Aapeli Pursimo
Analyst
Latest videos
Financial calendar
Annual report
14.02.2025
Interim report
30.04.2025
General meeting
13.05.2025
Interim report
24.07.2025
Interim report
30.10.2025
Major OwnersSource: Millistream Market Data AB
| Owner | Capital | Votes |
|---|---|---|
| Triton | 16.0 % | 16.4 % |
| Wipunen varainhallinta Oy | 14.6 % | 14.9 % |
| Fjärde AP-Fonden | 9.4 % | 9.6 % |
| Heikintorppa Oy | 8.3 % | 8.5 % |
| Mariatorp Oy | 6.2 % | 6.4 % |
| Mandatum Life Insurance Company | 5.1 % | 5.3 % |
| Fennia Group | 4.4 % | 4.5 % |
| Fidelity International (FIL) | 4.4 % | 4.5 % |
| Etola Group | 3.7 % | 3.8 % |
| Eltel AB | 2.4 % | 0.3 % |
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 938.0 | 812.6 | 823.6 | 850.2 | 828.9 | 843.8 | 877.3 | 902.9 |
| growth-% | -13.8 % | -13.4 % | 1.4 % | 3.2 % | -2.5 % | 1.8 % | 4.0 % | 2.9 % |
| EBITDA | 63.0 | 46.5 | 27.8 | 24.8 | 17.0 | 50.3 | 52.9 | 58.0 |
| EBIT (adj.) | 11.4 | 14.8 | -1.9 | 1.7 | 10.1 | 20.3 | 25.3 | 29.7 |
| EBIT | 24.8 | 14.5 | -2.0 | -5.3 | -16.8 | 20.3 | 25.3 | 29.7 |
| Profit before taxes | 15.0 | 8.7 | -11.4 | -18.0 | -29.3 | 9.3 | 15.3 | 19.7 |
| Net income | 4.7 | 4.3 | -15.0 | -8.0 | -31.5 | 5.4 | 11.8 | 15.3 |
| EPS (adj.) | -0.06 | 0.03 | -0.10 | -0.02 | -0.05 | 0.01 | 0.06 | 0.10 |
| growth-% | -424.4 % | 380.8 % | 50.6 % | |||||
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend ratio |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 6.7 % | 5.7 % | 3.4 % | 2.9 % | 2.0 % | 6.0 % | 6.0 % | 6.4 % |
| EBIT-% (adj.) | 1.2 % | 1.8 % | -0.2 % | 0.2 % | 1.2 % | 2.4 % | 2.9 % | 3.3 % |
| EBIT-% | 2.6 % | 1.8 % | -0.2 % | -0.6 % | -2.0 % | 2.4 % | 2.9 % | 3.3 % |
| ROE | 2.2 % | 2.0 % | -7.1 % | -3.8 % | -15.9 % | 3.0 % | 6.7 % | 8.7 % |
| ROI | 5.8 % | 3.9 % | -0.5 % | -1.4 % | -4.9 % | 5.9 % | 7.4 % | 8.8 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 2.24 | 1.53 | 0.74 | 0.55 | 0.57 | 0.57 | 0.57 | 0.57 |
| Shares | 156.6 | 156.6 | 156.7 | 156.7 | 156.7 | 156.7 | 156.7 | 156.7 |
| Market cap | 351.1 | 239.0 | 115.3 | 86.2 | 90.0 | 90.0 | 90.0 | 90.0 |
| Enterprise value | 475.8 | 360.8 | 240.3 | 211.4 | 242.5 | 236.7 | 221.2 | 204.0 |
| EV/S | 0.5 | 0.4 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 |
| EV/EBITDA | 7.6 | 7.8 | 8.6 | 8.5 | 14.3 | 4.7 | 4.2 | 3.5 |
| EV/EBIT (adj.) | 41.7 | 24.4 | - | 128.1 | 24.1 | 11.7 | 8.7 | 6.9 |
| EV/EBIT | 19.2 | 24.9 | - | - | - | 11.7 | 8.7 | 6.9 |
| P/E (adj.) | - | 52.1 | - | - | - | 42.5 | 8.8 | 5.9 |
| P/E | 74.7 | 55.7 | - | - | - | 42.5 | 8.8 | 5.9 |
| P/B | 1.7 | 1.1 | 0.6 | 0.4 | 0.5 | 0.5 | 0.5 | 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 % | 34.8 % | 35.0 % | 32.0 % | 34.3 % |
| Gearing ratio | 56.8 % | 53.4 % | 59.2 % | 44.8 % | 67.6 % | 63.7 % | 74.5 % | 59.6 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 240.3 | 850.2 | 176.3 | 216.0 | 210.2 | 226.5 | 828.9 | 170.0 | 213.7 |
| EBITDA | 10.3 | 24.8 | -19.6 | 8.5 | 15.2 | 12.9 | 17.0 | 4.9 | 11.5 |
| EBIT | 2.9 | -5.3 | -27.2 | 0.5 | 4.5 | 5.4 | -16.8 | -2.6 | 4.0 |
| Profit before taxes | -0.8 | -18.0 | -30.2 | -2.3 | 0.8 | 2.4 | -29.3 | -5.5 | 1.2 |
| Net income | 10.2 | -8.0 | -30.5 | -2.6 | -0.4 | 1.9 | -31.5 | -5.8 | 0.8 |
ShowingAll content types
Eltel Q3'24: Gradual improvement continued
Eltel Q3´24: Progress is evident but still lot of room for improvement
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Eltel, Webcast with teleconference, Q3'24
ELTEL: Eltel Group: Interim report January-September 2024
Eltel Q3’24 preview: We expect gradual profitability improvement to continue
ELTEL: Eltel's Nomination Committee composition for the AGM 2025
ELTEL: Invitation to Eltel's Q3 2024 report presentation
ELTEL: Eltel delivers masts and towers to the Swedish Armed Forces in new framework agreement - worth up to EUR 35 million
Eltel signs agreement with Helen Electricity Network in Finland
ELTEL: Eltel and Helen Electricity Network sign a five-year agreement worth EUR 50 million
Eltel Q2'24: Slowly towards the right direction
Eltel Q2´24: Structured efforts to improve profitability still ongoing
Eltel, Webcast with teleconference, Q2'24
ELTEL: Eltel Group: Half-year report January-June 2024
