Eltel’s Mobile Communication Business Signs a Three Year Frame Agreement with Huawei in Germany

Regulatory News:

Eltel (STO:ELTEL) has signed a three year frame agreement with Huawei for implementation of LTE and modernisation roll outs for a major German mobile operator. The value of the frame agreement is estimated to be approximately EUR 20 million over the three year period.

This agreement is an important milestone for Eltel’s ongoing market consolidation in Germany. Huawei has trusted Eltel with a new frame agreement consisting of site planning and site design, network implementation, civil works and network integration and commissioning. The services are performed in the network of one of the leading German mobile operators in the western part of Germany. The implemented technology is LTE and the duration of the frame agreement is planned from 2016 to 2018.

Dariush Rezai, President - Eltel Mobile Communication comments:

"Huawei is an important customer for Eltel in a number of countries and we are particularly happy to be awarded the new three-year frame agreement in Germany. The new contract further strengthens Eltel’s growing market share in the German market, which is one of Eltel’s strategic growth areas. We also appreciate the recent recognition by Huawei to Eltel as a West European winner of their Global Partner Award”.

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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