Eltel Norway, a fully owned subsidiary of Eltel AB (publ), has today been awarded a new long-term partnership agreement with Telenor Norway covering 2026-2031. Based on expected volumes, the agreement is estimated to generate revenue of more than EUR 475 million (=NOK 5 billion) over the initial five-year term. With its two three-year extension options, the agreement can be extended to a total of 11 years, with a potential total contract value estimated to EUR 1 billion. Under the partnership agreement, Eltel Norway will become Telenor's partner and sole supplier of contracting services for network expansion, corrective maintenance and planned maintenance, including upgrades and customer deliveries to Telenor and its customers throughout Norway.
The partnership agreement marks an important step in the long-standing collaboration between Eltel and Telenor. As a partner and sole supplier, Eltel will play a central role in the continued development and modernization of Telenor's infrastructure, while helping to ensure high availability, reliable operations and positive customer experiences across the country.
"We are very proud of the confidence Telenor has placed in us by awarding us this partnership agreement. It is a recognition of the work our skilled employees across the country carry out every day to deliver high quality, safety and reliability. Together with Telenor, we will continue to develop and modernize Norway's telecommunications infrastructure through effective digital solutions and consistently high-quality customer experiences." says Ingrid Tjøsvold, Managing Director of Eltel Norway.
"Eltel Norway has consistently demonstrated a strong ability to deliver, underpinned by an uncompromising commitment to safety, quality and efficiency. These strengths were key factors in our decision to award Eltel the agreement," says Roger Nerli, Chief Technical Officer at Telenor Norway.
"This partnership provides a solid foundation for meeting the future needs of critical infrastructure. The market in which we operate is receiving considerable attention due to the geopolitical situation and the need for more secure networks, electrification, robust solutions and digitalization, which is driving increased activity in the data center sector. The expanded partnership with Telenor is clear recognition of the quality of our deliveries. This creates great enthusiasm and motivation in our work, 24/7, all year round, to safeguard Telenor's resilient nationwide communications network," says Ingrid Tjøsvold.
For further information, please contact:
Alexandra Kärnlund, Director, Communications
Phone: +46 70 910 0903, alexandra.karnlund@eltelnetworks.com
About Eltel
Eltel is one of the leading service providers for critical infrastructure in the Nordics. Our 3,800 colleagues across the Nordics, Germany and Lithuania enable the digitalization and electrification of society by providing services and turnkey solutions for high performing communication and power networks and renewable energy. The head office is located in Sweden and Eltel's shares are listed on Nasdaq Stockholm. In 2025 the total net sales amounted to EUR 817.8 million. Read more at www.eltelnetworks.com.
This information is information that Eltel is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-09-08 08:00 CEST.
