Huge contracts are coming in from Norway, and the share price is soaring:
Eltel Norway, a fully owned subsidiary of Eltel AB (publ), has today been awarded a new long-term partnership agreement with Telenor Norway covering 2026–2031. Based on expected volumes, the agreement is estimated to generate revenue of more than EUR 475 million (≥NOK 5 billion) over the initial five-year term. With its two three-year extension options, the agreement can be extended to a total of 11 years, with a potential total contract value estimated to EUR 1 billion. Under the partnership agreement, Eltel Norway will become Telenor’s partner and sole supplier of contracting services for network expansion, corrective maintenance and planned maintenance, including upgrades and customer deliveries to Telenor and its customers throughout Norway.
The annual value of the contract is slightly over 10% of last year’s net sales.