The new framework agreement covers the operation, maintenance and expansion of fibre networks in Norway and is more comprehensive than the current framework agreement in terms of geography and areas of operation.

The agreement, which begins in 2025, is valued to NOK 300–400 million per year and runs for three years with the option of an extension of up to two years. The counties to which Netel has been assigned are, among others, Østfold, Akershus and Buskerud. The part of the agreement that refers to operation covers both the core and access networks. The current framework agreement was signed in 2021 with a two-year term and an option for a one-year extension, which Telenor exercised in 2023.

“Telenor's renewed and increased trust in us shows that we are a reliable and knowledgeable supplier,” says Jeanette Reuterskiöld, President and CEO of Netel. "Since we started our collaboration with Telenor in Norway in operation and maintenance, we have built a local organization with high competence where we can now take advantage of the larger volumes.”

In the picture: Edward Olastuen, head of Division Telecom, Netel and Anna M. Måsender, head of Infrastructure Growth, Telenor Norway

Contacts

Jeanette Reuterskiöld, President and CEO, +46 (0) 702 28 03 89, jeanette.reuterskiold@netel.se
Fredrik Helenius, CFO, +46 (0) 730 85 52 86, fredrik.helenius@netel.se
Åse Lindskog, IR, +46 (0) 730 24 48 72, ase.lindskog@netelgroup.com

About Us

Netel is a leading specialist in critical infrastructures in Northern Europe. We have over 20 years of experience in carrying out projects as well as services and maintenance for the industry's largest players in power, telecommunications, heating as well as water and sewage. We have a clear strategy for organic growth and acquisitions based on an efficient business model that is characterized by decentralization, low capital tied up and high cash conversion. Our business is based on a solid sustainability approach with intense responsibility for the environment and work safety. Netel had sales of more than SEK 3.4 billion in 2023 and has over 850 employees. Read more at www.netelgroup.com.

This information is information that Netel Holding AB (publ) 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 2024-06-13 08:00 CEST.

Image Attachments

IMG 20240612 WA0000

Attachments

Netel signs three-year framework agreement with Telenor with estimated value of NOK 0.9–1.2 billion

© Modular Finance, source Nordic Press Releases