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Etteplan - Figures in line, guidance specified

Etteplan's net sales in Q2 amounted to EUR 75.0m, in line with our and consensus estimates (EUR 73.7m/73.6m Evli/cons.). EBIT was also quite in line with our estimates and slightly below consensus, at EUR 6.7m (EUR 6.5m/7.3m Evli/cons.). Guidance specified: Etteplan expects revenue to amount to EUR 295-315m (prev. EUR 285-305m) and operating profit (EBIT) to amount to EUR 25-28m.
  • Net sales in Q2 were EUR 75.0m (EUR 62.9m in Q2/20), in line with our estimates and consensus estimates (EUR 73.7m/73.6m Evli/Cons.). Growth in Q2 amounted to 19% y/y, organic growth 12.4%.
  • EBIT in Q2 amounted to EUR 6.7m (EUR 5.4m in Q2/20), in line with our estimates and slightly below consensus estimates (EUR 6.5m/7.3m Evli/cons.).
  • Compared to our expectations, the Technical Documentation Solutions and Software and Embedded Solutions service areas exceeded expectations on growth and relative profitability.
  • EPS in Q2 amounted to EUR 0.20 (EUR 0.16 in Q2/20), in line with our estimates and consensus estimates (EUR 0.20/0.20 Evli/cons.).
  • Engineering Solutions net sales in Q2 were EUR 42.0m vs. EUR 42.5m Evli. EBITA in Q2 amounted to EUR 4.2m vs. EUR 4.3m Evli.
  • Software and Embedded Solutions net sales in Q2 were EUR 19.9m vs. EUR 18.6m Evli. EBITA in Q2 amounted to EUR 2.2m vs. EUR 2.0m Evli.
  • Technical Documentation Solutions net sales in Q2 were EUR 13.0m vs. EUR 12.4m Evli. EBITA in Q2 amounted to EUR 1.6m vs. EUR 1.3m Evli.
  • Guidance specified: Etteplan expects revenue to amount to EUR 295-315m (prev. EUR 285-305m) and operating profit (EBIT) to amount to EUR 25-28m.
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