Eltel

A record 34 MEUR transmission project and new data center work totaling 54 MEUR secure revenue well into 2028.

Following the strong post-Q1 share price surge, however, we believe the valuation has run too far, and the risk-adjusted return is no longer attractive at current levels.

In our view, the agreement improves the visibility of our medium-term forecasts for the Swedish unit and puts upward pressure on our estimates, though we await the final contract signing before revising them.

7:12

Analytiker Christoffer intervjuas om hans syn på Q1 rapporten i stora pensel drag och vad som låg bakom den starka prestationen i Finland.