* Substantial margin-driven EBITA beat * We raise EBITA by 6-5% for '26e-'27e * Balance sheet soon supportive of dividends, in our view A m...
* Adj. EBITA EUR 9.1m, above ABGSCe 7.0m and up y-o-y * We raise our adj.
Q2 EBITA EUR 2.5m (ABGSCe EUR 6.9m) We cut '25e-'27e adj.
Q1 adj. EBITA EUR +0.9m, strong result given seasonality We raise '25e-'27e EBITA by EUR 3-2m Capital distribution may become relevant again...
Another quarter of y-o-y margin improvement Margin-driven EBITA upgrades of 6-4% for '25e-'26e Share trading at 9.
Adj. EBITA of EUR 8.2m (ABGSCe EUR 5.0m), Finland outperforms '24e up on Q3 beat, Norway estimates lowered for '25e-'26e Trading at 11-8x EV...
- Earnings up y-o-y, but still undershot our estimates in Q2 - Profitability issues should be mainly contained to '24e - Raising margins wil...
Q1 a seasonally small quarter, adj. EBITA of EUR -4m Margin lift from Q2e following recent divestment Share trading at 11-8x '24e-'25e EV/EB...
Q1e a seasonally small quarter Divests loss-making business, EBITA margin +0.
Earnings lift on better contract terms and cost savings 5% margin-driven EBITA upgrades for '24e-'25e Renegotiating contracts the main margi...
Q4e: Cost cuts and price hikes lift earnings Minor estimate changes, EBITA +1% on FX Trading at 11x '24e EV/EBITA Q4e: seasonally weaker, b...
3.5pp q-o-q margin expansion a strong statement Adj.
Q3 report due on Thursday, 2 November Cost reductions taking effect Higher margins on new contracts crucial Q3e: cost reductions should be ...
• Solid growth, but high costs still hurting margins • More benefits from savings program in Q3e • 16x 25e EV/EBITA on ABGSCe, company's tar...
• Q2 report due on Thursday, 27 July • Some but not full effect from cost savings programme • Trading at 17x '24e-'25e EV/EBITA Q2 expectati...
Soft Q1, waiting for effects from cost savings programme EBITA downgrades driven by higher group costs Trading at 19-17x '24e-'25e EV/EBITA ...
Q1 report due on Thursday, 4 May Cost savings programme to show effect from Q2 onwards 13x '25e ABGSCe EV/EBITA, 5.
More detail on cost savings program in Q4 report EBITA up, but offset by higher financial costs Company's '25 targets imply 7x EV/EBITA Q4 ...
Q4 report due on Thursday, 16 February Margin estimates lowered as issues persist Trading at 17x '24e EV/EBITA Q4 prel.
FY'22 oper. EBITA likely negative, implies EUR -2.2m in Q4 Eltel announced a profit warning recently, where the company states that operativ...
Eltel is likely to grow at high single-digit rates from here, but valuation already largely anticipates improving EBIT.
Q3 report due Wednesday, 2 November Sales of EUR 204m, EBITA margin of 1.
Signs frame agreement worth EUR 200m… …to build FTTH in Finland A busy start for new CEO, but a lot remains Eltel signs largest fibre agr...
We see Eltel’s earnings are to decline this year as H1 cost challenges will continue to burden H2 results as well.
Sales and adj. EBITA 3% and 84% below ABGSCe ’22e-‘24e adj.
Eltel’s Q2 top line was soft relative to estimates and profitability fell clearly below expectations as inflation hit results more than was ...
Adj. EBITA 84% below ABGSCe ‘22e adj. EBITA est down 20% on isolated numbers Trading at 19-10x ’22e-‘24e EV/EBITA Q2 results Sales were EUR ...
Q2 report due Tuesday, 26 July We expect positive sales growth to continue… …but margins to still be under pressure, as in Q1 Margin pressu...
Q1 profitability fell short of expectations and Eltel also removed guidance due to inflation.
Q1 operatating EBITA margin of -1.3% (ABGSCe 0.2%) Estimate visibility low on cancellation of guidance Fair value range down to SEK 8-10 (10...
Eltel’s Q1 top line was close to estimates, but the war and unforeseen inflation hit bottom line hard.
High sick-leave and cost inflation weight on margins Removes guidance for improved margin in ‘22e… …and extends long-term financial targets ...
Eltel’s profitability continues to improve, but we find valuation still doesn’t leave that much upside.
Eltel’s Q4 report delivered a clear positive surprise after a disappointing Q3 report.
Eltel’s long-term earnings growth continues, however we make big cuts to our estimates following the Q3 report as the pace doesn’t seem near...
Eltel’s Q3 results were burdened by lower top line, continued challenges in the Polish High Voltage business and cost inflation.
Slight sales miss, but profitability in line Eltel delivered weaker sales than expected at EUR 210m (-5% vs ABGSCe of EUR 221m), down -14% y...
The 2.1% operative EBITA margin met our estimate Q2 revenue declined by 14% y/y to EUR 210m, vs the EUR 228m/223m Evli/cons.
Eltel’s Q2 produced a sixth consecutive annual improvement in operative EBITA and the result was close to estimates.
