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    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ComprehensiveIncomeAbstract1" xlink:label="loc_ElmeraGroup_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ComprehensiveIncomeAbstract1" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ComprehensiveIncomeAbstract1" xlink:to="label_ElmeraGroup_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ComprehensiveIncomeAbstract12" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ComprehensiveIncomeAbstract1" xlink:to="label_ElmeraGroup_ComprehensiveIncomeAbstract12" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_ElmeraGroup_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_ElmeraGroup_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_CurrentIntangibleAssets" xlink:label="loc_ElmeraGroup_CurrentIntangibleAssets" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_CurrentIntangibleAssets" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Current intangible assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_CurrentIntangibleAssets" xlink:to="label_ElmeraGroup_CurrentIntangibleAssets" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ShareCapital" xlink:label="loc_ElmeraGroup_ShareCapital" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ShareCapital" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Share Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ShareCapital" xlink:to="label_ElmeraGroup_ShareCapital" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_OtherEquity" xlink:label="loc_ElmeraGroup_OtherEquity" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_OtherEquity" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_OtherEquity" xlink:to="label_ElmeraGroup_OtherEquity" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" xlink:label="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" xlink:to="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract" xlink:to="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPaymentAbstract2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" xlink:label="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Total comprehensive income and share based payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" xlink:to="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total comprehensive income and share based payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment" xlink:to="label_ElmeraGroup_TotalComprehensiveIncomeAndShareBasedPayment2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_IncreaseDecreaseThroughTransactionsWithOwnersAbstract" xlink:label="loc_ElmeraGroup_IncreaseDecreaseThroughTransactionsWithOwnersAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_IncreaseDecreaseThroughTransactionsWithOwnersAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Increase (decrease) through transactions with owners, equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_IncreaseDecreaseThroughTransactionsWithOwnersAbstract" xlink:to="label_ElmeraGroup_IncreaseDecreaseThroughTransactionsWithOwnersAbstract" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xlink:label="loc_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Changes in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xlink:to="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Changes in cash and cash equivalents at beginning of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xlink:to="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract2" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract3" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Changes in cash and cash equivalents at end of period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xlink:to="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract3" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract4" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Changes in total cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract" xlink:to="label_ElmeraGroup_ChangesInCashAndCashEquivalentsAbstract4" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_IncreaseDecreaseInCashAndCashEquivalentsAbstract" xlink:label="loc_ElmeraGroup_IncreaseDecreaseInCashAndCashEquivalentsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_IncreaseDecreaseInCashAndCashEquivalentsAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Increase (decrease) in cash and cash equivalents after effect of exchange rate changes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_IncreaseDecreaseInCashAndCashEquivalentsAbstract" xlink:to="label_ElmeraGroup_IncreaseDecreaseInCashAndCashEquivalentsAbstract" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_CashFlowsFromUsedInOperationsAbstract" xlink:label="loc_ElmeraGroup_CashFlowsFromUsedInOperationsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_CashFlowsFromUsedInOperationsAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_CashFlowsFromUsedInOperationsAbstract" xlink:to="label_ElmeraGroup_CashFlowsFromUsedInOperationsAbstract" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForDepreciationExcludingRightOfUseAssets" xlink:label="loc_ElmeraGroup_AdjustmentsForDepreciationExcludingRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForDepreciationExcludingRightOfUseAssets" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for Depreciation Excluding Right of Use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForDepreciationExcludingRightOfUseAssets" xlink:to="label_ElmeraGroup_AdjustmentsForDepreciationExcludingRightOfUseAssets" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForDepreciationRightOfUseAssets" xlink:label="loc_ElmeraGroup_AdjustmentsForDepreciationRightOfUseAssets" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForDepreciationRightOfUseAssets" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for Depreciation Right of Use Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForDepreciationRightOfUseAssets" xlink:to="label_ElmeraGroup_AdjustmentsForDepreciationRightOfUseAssets" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForAmortisationOfCostToObtainContracts" xlink:label="loc_ElmeraGroup_AdjustmentsForAmortisationOfCostToObtainContracts" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForAmortisationOfCostToObtainContracts" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for Amortisation of Cost to obtain contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForAmortisationOfCostToObtainContracts" xlink:to="label_ElmeraGroup_AdjustmentsForAmortisationOfCostToObtainContracts" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForInterestExpenseLeaseLiability" xlink:label="loc_ElmeraGroup_AdjustmentsForInterestExpenseLeaseLiability" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForInterestExpenseLeaseLiability" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for interest expense lease liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForInterestExpenseLeaseLiability" xlink:to="label_ElmeraGroup_AdjustmentsForInterestExpenseLeaseLiability" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForInterestExpenseExcludingLease" xlink:label="loc_ElmeraGroup_AdjustmentsForInterestExpenseExcludingLease" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForInterestExpenseExcludingLease" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for interest expense (excluding lease)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForInterestExpenseExcludingLease" xlink:to="label_ElmeraGroup_AdjustmentsForInterestExpenseExcludingLease" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" xlink:label="loc_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for payments to obtain a contract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" xlink:to="label_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract2" xml:lang="en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Adjustments for payments to obtain a contract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract" xlink:to="label_ElmeraGroup_AdjustmentsForPaymentsToObtainAContract2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" xlink:label="loc_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Changes in working capital, non cash effect, Provision for onerous contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" xlink:to="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts2" xml:lang="en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Changes in changes in working capital, non cash effect, Provision for onerous contracts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts" xlink:to="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectProvisionForOnerousContracts2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" xlink:label="loc_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Changes in working capital, Purchase of el certificates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" xlink:to="label_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates2" xml:lang="en" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Changes in changes in working capital, Purchase of el certificates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates" xlink:to="label_ElmeraGroup_ChangesInWorkingCapitalPurchaseOfElCertificates2" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ChangesInWorkingCapitalNonCashEffectFromCancellingElCertificates" xlink:label="loc_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectFromCancellingElCertificates" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectFromCancellingElCertificates" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Changes in working capital, Non cash effect from cancelling el certificates</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectFromCancellingElCertificates" xlink:to="label_ElmeraGroup_ChangesInWorkingCapitalNonCashEffectFromCancellingElCertificates" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_NetOutflowOrProceedsFromNonCurrentReceivables" xlink:label="loc_ElmeraGroup_NetOutflowOrProceedsFromNonCurrentReceivables" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_NetOutflowOrProceedsFromNonCurrentReceivables" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Net outflow or proceeds from non current receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_NetOutflowOrProceedsFromNonCurrentReceivables" xlink:to="label_ElmeraGroup_NetOutflowOrProceedsFromNonCurrentReceivables" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_NetOutflowOrProceedsFromOtherLongTermLiabilities" xlink:label="loc_ElmeraGroup_NetOutflowOrProceedsFromOtherLongTermLiabilities" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_NetOutflowOrProceedsFromOtherLongTermLiabilities" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Net outflow or proceeds from other long term liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_NetOutflowOrProceedsFromOtherLongTermLiabilities" xlink:to="label_ElmeraGroup_NetOutflowOrProceedsFromOtherLongTermLiabilities" />
    <link:loc xlink:type="locator" xlink:href="2138006BSHJVCD9SR489-2025-12-31.xsd#ElmeraGroup_ProceedsFromRevolvingCreditFacility" xlink:label="loc_ElmeraGroup_ProceedsFromRevolvingCreditFacility" />
    <link:label xlink:type="resource" xlink:label="label_ElmeraGroup_ProceedsFromRevolvingCreditFacility" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from revolving credit facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ElmeraGroup_ProceedsFromRevolvingCreditFacility" xlink:to="label_ElmeraGroup_ProceedsFromRevolvingCreditFacility" />
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