ELTEL: Eltel’s Power Distribution Signs a EUR 20 Million Smart Metering Contract with Kamstrup for DONG Energy in Denmark

Regulatory News: Eltel (STO:ELTEL) has signed a contract for the rollout and implementation of smart meters for power distribution with Kamstrup A/S in their project with DONG Energy. This project will be the largest smart meter rollout in Denmark so far. The total value of the contract for Eltel is approximately EUR 20 million.

Kamstrup A/S, a leading solution provider within smart metering, announced the signing of a turnkey contract of one million smart electricity meters with Danish DONG Energy in April 2015. Eltel has now been selected as one of Kamstrup’s two rollout partners to implement part of the total volume. The geographical area of the rollout is Copenhagen and its surrounding areas. The rollout services consist of communication devices at the grid substations and smart meters in private households. The project will start with a pilot in 2016, scale up in the spring of 2017 and it shall be completed by the end of 2019.

Juha Luusua, President - Eltel Power Distribution comments: "We are very glad to announce the signing of the contract with Kamstrup on their DONG Energy’s smart metering project in Denmark. This project further confirms our expertise in building of smarter infrastructure networks in our society – the Infranets – for the benefit of all stakeholders. The project execution will be based on Eltel’s extensive experience in smart metering rollouts from our previous projects in Denmark and other Nordic countries. We are looking forward to good cooperation with Kamstrup, contributing to great advantages for DONG Energy”.

Lars Bo Kristensen, Sr. Vice President from Kamstrup comments: "We are looking forward to cooperate with Eltel on the rollout of one million meters in Copenhagen. Eltel has been a close partner in several projects in the Nordic countries and we are confident that we can rely on their experience to carry out their role in this smart metering rollout - to the full satisfaction of Kamstrup, DONG Energy and the citizens of Copenhagen.”

Link to Kamstrup website: www.kamstrup.com

For further information: Ingela Ulfves VP - Investor Relations and Communications Tel: +358 40 311 3009, ingela.ulfves@eltelnetworks.com

Hannu Tynkkynen SVP - Group Communications Tel: +358 40 311 4503, hannu.tynkkynen@eltelnetworks.com

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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