Eltel’s Power Distribution Wins New Close to 300 000 Smart Meter Rollout Contracts with the Soria Consortium in Norway

Regulatory News:

Eltel (STO:ELTEL) has signed new smart metering contracts with the Soria consortium for the roll out of an estimated 282 000 meters in Norway. This contract is the third major smart metering contract for Eltel in Norway during 2015 and will consolidate Eltel’s market leading position in Norway, as well as in the whole Nordic region. Including all previously won Norwegian contracts and a recent contract in Denmark with Kamstrup, Eltel’s total order stock for smart meter rollouts amounts to approximately 1.6 million meters.

The Soria consortium is a composition of several utility companies covering the Norwegian West Coast, the Trønder counties and the Northern part of Norway. Seven of the utility companies in the consortium have now awarded Eltel with rollout contracts in the Western part of Norway. The sizes of individual roll outs vary from 4 000 to 214 000 metering points, the largest one being the utility BKK Nett AS.

The contracted services include installation and testing of meters and communication infrastructure, warehousing and logistics, end customer communications and project management as a prime contractor. The customer projects will be started in the beginning from 2016 and are expected to be completed by the end of 2018.

Juha Luusua, President - Power Distribution Eltel AB comments:

"The contract award by the utilities in the consortium is a great victory for Eltel and complements our overall role to implement smart metering infrastructures in Norway. Together with the earlier contracts we now have an order book of approximately 1.1 million meter rollouts in Norway. We are convinced that we can utilise our extensive experience in our previous rollout projects and that the various customer projects support each other to take the Norwegian smart grid development to a totally new level. The new orders won this year in Norway and Denmark, and our earlier references of 3.5 million meters, make Eltel by far the most experienced company in this sector in Europe. This provides an excellent platform for further growth opportunities for us in other European 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 current number of employees is approximately 9 300. In 2014 Eltel’s net sales amounted to EUR 1 242 million. Since February 2015, Eltel AB is listed on Nasdaq Stockholm.

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