Tässä on ABG:n ennakkoajatukset Eltelin Q1:stä ajatellen. 
We expect Eltel to report Q1 net sales of EUR 178m, up 5% y-o-y, of which +3% organic. We expect to see mixed demand signals from Eltel’s end-markets, with Communications expected to remain subdued, especially in Norway, while the order momentum in Power seems to be clearly better. Profitability should improve y-o-y, partly due to more contracts rolling over to new, better commercial terms as of 2026, and partly due to growth in “new business areas”, which according to the company are also margin-accretive. However, we remind that Q1 is a seasonally small quarter, and we therefore see the y-o-y trend as more important than the absolute EBITA number. That being said, we model an adj. EBITA of EUR 2.0m (up from 0.9m in Q1’25), for a margin of 1.1% (0.5%).