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Eltel Group Interim report January - March 2021 Stockholm , Sweden , 28 April 2021 ELTEL January - March 2021 • Net sales EUR 182.0 million ( 236.6 ) . Total growth -23.1 % and organic growth ¹ ) in segments -18.7 % • Operative EBITA² ) EUR -0.7 million ( -2.1 ) and operative EBITA margin -0.4 % ( -0.9 ) Operating result ( EBIT ) EUR -0.8 million ( -2.2 ) and EBIT margin -0.4 % ( -0.9 ) • . Net result EUR -2.7 million ( -4.8 ) . Earnings per share EUR -0.02 ( -0.03 ) , basic and diluted • Cash flow from operating activities EUR -17.4 million ( -4.7 ) • Net debt³ ) EUR 89.2 million ( 133.8 ) Significant events during the quarter • On 22 March , Eltel signed an agreement to divest its German high voltage business to ENACO GmbH , a German service provider in the energy sector . The transaction is expected to close during Q2 , 2021 . Net sales and gross margin Operative EBITA ΜΕ % M € % 1,200 12 10 2 1,000 10 5 1 800 600 400 200 11 8 0 0 6 -5 -1 4 -10 -2 2 0 0 -15 -3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 Net sales , rolling 12 months I Gross margin , rolling 12 months Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 Operative EBITA , quarterly Operative EBITA margin , rolling 12 months Key figures EUR million Net sales Net sales growth , % Operative EBITA² ) Operative EBITA margin , % Operating result ( EBIT ) Return on operative capital employed ( ROCE ) , % Net working capital Net debt³ ) Number of employees , end of period Jan - Mar 2021 Jan - Mar 2020 Jan - Dec 2020 182.0 -23.1 % 236.6 -5.7 % 938.0 -13.8 % -0.7 -0.4 % -2.1 -0.9 % 11.4 1.2 % -0.8 13.5 % -2.2 -6.6 % 24.8 13.0 % -4.8 0.5 -25.1 89.2 133.8 67.4 5,330 6,652 5,449 1 ) Adjusted for divested operations and currency effects . 2 ) Eltel follows the profitability of segments with Operative EBITA . Please see page 22 for definitions of the key ratios . 3 ) Refers to net debt as defined in financing agreement . See page 10 for calculation and page 22 for definition . 1 ( 24 )