Eltel’s Power Transmission Business Wins a EUR 13 Million Substation Contract with E.ON in Sweden

Regulatory News:

Eltel (STO:ELTEL) has won a contract for a full rebuild of the two substations Söderåsen and Mörarp of E.ON Elnät Sverige AB. The value of this contract is approximately EUR 13 million. This contract is an important further step for Eltel’s ambitions in the Swedish and Nordic substation markets.

The substation contract is a turnkey project for Eltel comprising design, supply of all equipment, civil works, installation and commissioning as well as decommissioning of the existing substations. Besides the rebuild of the 130 kV substations, there is a step-by-step energisation scheme where existing parts of the substations are phased out and new parts are phased in. This step-by-step energisation scheme is critical in order to maintain and guarantee uninterrupted operation of the vital substations.

Fredrik Menander, President - Power Transmission, Eltel AB comments:

"The decision of E.ON in Sweden to choose us as the prime contractor in the rebuild of these two substations is a major win for Eltel. We are now taking an additional strategic step in consolidating our position in the Swedish and Nordic substation markets. We are looking forward to good cooperation and efficient project execution together with E.ON”.

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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