Here is the latest company report from Christoffer after Q2 
Eltel’s Q2’26 report was mixed relative to our forecasts. Revenue fell short of our estimates as growth in Finland normalized more abruptly than expected. However, profitability once again exceeded expectations and continued its streak of improvement for the twelfth consecutive quarter with year-on-year margin expansion, providing further evidence that the profitability turnaround is structural. Growth was again driven by the Power segment, but the fading of the exceptional momentum in Finland weighed on the group’s revenue. Norway was clearly the best performer, continuing its multi-quarter recovery, while Denmark and Germany disappointed in profitability, as the continued decline in the Danish Communication segment weighed on Germany’s solid operational performance. Management reiterated their confidence in reaching the 5% adjusted EBITA margin target within the previously announced 12–18 month timeframe, and we believe the continued broad-based margin development supports this conviction. However, we still believe the burden of proof is on Eltel to demonstrate that the 5% target is achievable within management’s timeframe.