Eltel wins a new long-term contract with E.ON in Power distribution in Sweden

Regulatory News:

E.ON has chosen Eltel as its main contractor in two regions of its power distribution network in Sweden. The value of the contract amounts to approximately 46 MEUR over four years, from the beginning of 2016 until the end of 2019. There is also an option for contract extension by one to two years.

The E.ON contract covers the two Swedish regions Norrköping and Södra Nord. The contracted services will include fault repair, maintenance, service works and project deliveries.

Axel Hjärne, CEO of Eltel Group, comments: We are very happy to win the confidence of E.ON to become one of their main contractors in Sweden going forward. Eltel has extensive experience in power networks, we have worked many years with E.ON in Finland and the new contract will strengthen our existing partnership with E.ON in Sweden. This contract is a great booster for our establishment in the power distribution business in Sweden.

About E.ON E.ON Sverige is part of the E.ON Group, which is one of the world´s largest investor-owned energy companies. E.ON has approximately 3,500 employees in the Nordic countries and generated sales of SEK 37 billion in 2013. As an energy company, the E.ON want to build the sustainable society. During 2006 and 2013 E.ON invested SEK 66 billion in the Nordic countries.

About Eltel

Eltel is a leading European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Transport & Security, with operations throughout the Nordic and Baltic regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad and integrated range of services, spanning from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a loyal and growing customer base of large network owners. The number of employees is approximately 8,600 and in 2014, Eltel net sales amounted to EUR 1,242 million. Eltel’s share is listed on Nasdaq Stockholm since February 2015.

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