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Eltel (ELTEL) investor relations material
Eltel Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Eighth consecutive quarter of improved profitability, with all segments contributing to gains.
Net sales declined 6.9% year-over-year to EUR 201.0 million, with Sweden showing strong growth.
New business now represents 10% of net sales, doubling year-over-year, with strong growth in public sector and renewable energy contracts.
Comprehensive refinancing completed, including EUR 130 million bond and EUR 60 million revolving credit facility, improving long-term financial stability.
Leadership changes announced for Sweden and Denmark & Germany.
Financial highlights
Gross profit improved to EUR 22.5 million from EUR 21.7 million year-over-year.
Adjusted EBITA increased to EUR 2.5 million from EUR 0.5 million; margin at 1.2% (0.2%).
Adjusted EBITDA for Q2 was EUR 10.3 million, up from EUR 8.4 million.
Net working capital improved to negative EUR 59 million from negative EUR 54 million year-over-year.
Net debt rose to EUR 145 million due to refinancing; leverage improved from 3.5x to 2.8x.
Outlook and guidance
Underlying market trends in digitalization and electrification remain strong, with optimism for future growth.
New business expected to reach 20% of total by end of 2027.
No change to financial targets: 5% adjusted EBITA margin, leverage 1.5–2.5x, and dividend subject to leverage.
First half of 2025 showed a slowdown, impacting full-year estimates.
Strong pipeline and high customer interaction expected to support future opportunities.
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