Q4 2024 Eltel AB Earnings Call Transcript
Key Points
- Eltel AB (FRA:E5E) achieved a significant improvement in profitability, with adjusted EBITDA more than doubling in the fourth quarter compared to the previous year.
- The company reached its leverage target of 2.5, indicating improved financial stability.
- Eltel AB (FRA:E5E) signed new contracts worth EUR 308 million in the fourth quarter, contributing to a strong order book of EUR 1.220 billion.
- The company successfully delivered its first utility-sized solar installation in Finland and a battery energy storage solution in Denmark and Finland.
- Eltel AB (FRA:E5E) reported major profitability improvements in its Finnish operations, with adjusted EBITA nearly doubling to EUR 6 million.
- Net sales decreased due to a slow market and the divestment of the High Voltage operation in Poland.
- Organic growth was flat during the quarter, indicating challenges in expanding sales.
- Norway's operations faced a decline in communication volumes, resulting in a EUR 4 million decrease in net sales.
- The company had to implement significant headcount reductions, including 200 employees in Norway, to improve efficiency.
- Group function costs increased from EUR 9 million in 2023 to EUR 11 million in 2024, partly due to one-off restructuring costs.
Good morning, and Happy Valentine's Day. My name is Alexandra Karnlund. I am the Communications Director at Eltel. And I have the pleasure to welcome you to this webcast where we will present the results for Eltel's fourth quarter 2024.
After the webcast, there will be some time for questions, and you can dial in or use the webcast for that. I'll get back with instructions later on.
The results will be presented by our CEO and President, Hakan Dahlstrom. Good morning.
Good morning.
And our CFO, Tarja Leikas.
Thank you, Alexandra. I will start with the financial highlights of the quarter. And here, we can see that is a good development on profitability, strong sales, and we are in the end of the quarter also reaching
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