Eltel’s power transmission business wins five new contracts in Finland at a total value of approximately EUR 18 million

Eltel has recently signed five new substation and overhead line contracts in
Finland with Fingrid, Caruna and Elenia, respectively. The total value of the
contracts amounts to approximately EUR 18 million. The projects will be executed
during 2016 - 2018. These wins manifest Eltel’s leading position in the Finnish
power transmission market.
The new contracts cover the following projects:

  · Extension of Fingrid’s 220/110 kV substation in Seitenoikea. The project
will be completed by October 2017.
  · New 110/20 kV substation in Gunnarnäs, refurbishment and modernisation of
the Vikom 110/20 kV substation and refurbishment and modernisation of the
substations in Hanko, Lappohja and Lindsby as well as construction of the power
lines Karjaa – Åminnefors and Karjaa – Lappohja, all for Caruna. The projects
are planned for completion by the end of 2018.
  · Refurbishment of Elenia’s 110 kV power line Nivala – Hitura with new 2x110
kV line with a completion during summer 2017.

Fredrik Menander, President – Power Transmission, Eltel AB comments:
“These contracts confirm our strengthened market position for substations in the
Nordics. Eltel is, since many years, one of the substation market leaders in
Poland and we started the Nordic market entry with Finland in 2014. We have
since then shown that Eltel is a competent and trustworthy partner to execute
substation projects in Finland while executing other ongoing substation projects
also in Sweden, Norway and Germany. Furthermore, we are very happy having been
selected as the partner by Caruna and Elenia for their overhead line projects.
The contracts above illustrate the continuous investments done in the grids in
order to secure undisturbed transport of electricity”.

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

Hannu Tynkkynen
Director – External Communications and Sustainability
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. In 2015 Eltel net sales amounted
to EUR 1,255 million. The current number of employees is approximately 9,600.
Since February 2015, Eltel AB is listed on Nasdaq Stockholm.