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Q4 results came in below expectations but showed slight y/y improvement. Guidance implies modest progress despite continued market challenges, with high uncertainty heading into 2026.
Etteplan's Q4 results came slightly below expectations, but showed progress from last year. Guidance implies a modest improvement despite the challenging market conditions.
Etteplan is set to report its Q4 figures on February 12. We expect that the market and demand situation remained challenging in Q4, with no clear signs of recovery in 2026.
Despite the profit warning released ahead of the Q3 report, there were also positives in the report considering the challenging market conditions. However, the short-term outlook and visibility of a potential market turn remain muted.
Etteplan issued a profit warning yesterday alongside preliminary Q3 figures. Today's full results were broadly in line with our estimates, which still reflected the old guidance. Profitability improved clearly from last year’s weak levels, supported by adaptation measures and continued progress in AI-driven solutions, despite a challenging demand situation.
Etteplan reports Q3 figures on October 29. We expect improvement from an easier comparison period, although organic growth drivers remain few and visibility strained.
Etteplan’s H1 was disappointing, with the escalation of the trade war causing demand to weaken further in Q2 following an already soft Q1. The revised guidance requires a marked improvement over last year in H2.
There were no surprises in Etteplan’s Q2 figures, since the company earlier issued a profit warning and disclosed preliminary numbers. Although the figures were weak as expected, profitability was impacted by NRIs. In addition, on a positive note, the company made strong progress in growing its share of AI-related net sales.
Etteplan released a profit warning yesterday and provided preliminary figures for Q2. The company reports its Q2 numbers on 6th of August.
Etteplan posted softer than expected figures for Q1 that were further weakened by sizeable NRIs. What initially appeared to be a rather conservative guidance at the start of the year now seems more challenging, although softer comparable figures and the company’s continued self-help provide some backing.
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Etteplan Oyj, Stock Exchange Release, February 12, 2026, at 1:50 p.m. EET
Ending of Etteplan's share-based incentive plan 2023-2025
At its meeting on February 12, 2026, the Board of Directors of Etteplan Oyj resolved on the outcome of the company's share-based incentive plan 2023-2025.
The plan included one earning period comprising the calendar years 2023-2025. The plan was in line with Etteplan's strategy and supported reaching the company's financial targets. The earnings criteria were Etteplan Group's revenue increase and earnings per share development. The earnings criteria were not met and, consequently, no rewards will be paid under the incentive plan.
On December 16, 2025, Etteplan published a stock exchange release regarding the establishment of a new share-based incentive plan for the Group's management and key personnel for the years 2026-2028.
Etteplan Oyj
Board of Directors
Further information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, Senior Vice President, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.etteplan.com
ETTEPLAN OYJ Financial Statement Review February 12, 2026 at 1.00 p.m. (EET)
Etteplan 2025: Strong cash flow despite challenges
Key points October-December 2025
- The Group's revenue increased by 1.7 percent and was EUR 92.9 million (10-12/2024: EUR 91.3 million). At comparable exchange rates, revenue increased by 0.8 percent.
- Operating profit (EBITA) increased by 5.8 percent and was EUR 6.8 (6.4) million, or 7.3 (7.1) percent of revenue.
- Operating profit (EBIT) increased by 6.4 percent and was EUR 5.3 (5.0) million, or 5.7 (5.4) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in October-December was EUR -0.3 (-0.9) million.
- Operating cash flow improved and was EUR 16.8 (14.2) million.
- Basic earnings per share was EUR 0.13 (0.12).
Key points January-December 2025
- The Group's revenue increased by 0.1 percent and was EUR 361.4 million (10-12/2024: EUR 361.0 million). At comparable exchange rates, revenue decreased by 0.5 percent.
- Operating profit (EBITA) decreased by 0.6 percent and was EUR 24.2 (24.4) million, or 6.7 (6.8) percent of revenue.
- Operating profit (EBIT) decreased by 3.0 percent and was EUR 17.9 (18.4) million, or 4.9 (5.1) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-December was EUR -2.8 (-3.0) million.
- Operating cash flow improved and was EUR 32.0 (31.0) million.
- Basic earnings per share was EUR 0.42 (0.41).
- The implementation of the strategy continued, and the share of revenue derived from AI-driven service solutions developed by Etteplan developed favorably and was 5 percent at the end of December.
- The Board of Directors' dividend proposal is EUR 0.22 (0.22) per share.
Etteplan also monitors non-IFRS performance measures, because they provide additional information on Etteplan's development. More information on performance measures is provided at the end of the release.
Key figures
| EUR 1,000 | 10-12/2025 | 10-12/2024 | 1-12/2025 | 1-12/2024 | 1-12/2024 |
| Revenue | 92,881 | 91,315 | 361,417 | 361,020 | 361,020 |
| Operating profit (EBITA) | 6,809 | 6,438 | 24,224 | 24,373 | 24,373 |
| EBITA, % | 7.3 | 7.1 | 6.7 | 6.8 | 6.8 |
| Operating profit (EBIT) | 5,271 | 4,953 | 17,866 | 18,410 | 18,410 |
| EBIT, % | 5.7 | 5.4 | 4.9 | 5.1 | 5.1 |
| Basic earnings per share, EUR | 0.13 | 0.12 | 0.42 | 0.41 | 0.41 |
| Equity ratio, % | 40.8 | 40.5 | 40.8 | 40.5 | 40.5 |
| Operating cash flow | 16,846 | 14 194 | 32,005 | 30,961 | 30,961 |
| ROCE, % | 9.5 | 10.1 | 8.3 | 9.4 | 9.4 |
| Personnel at end of the period | 3,777 | 3,803 | 3,777 | 3,803 | 3,803 |
President and CEO Juha Näkki:
In terms of the operating environment, the year 2025 was full of surprises. Geopolitical tensions were at a very high level, and the erratic nature of trade policy made our customers' decision-making difficult. These factors, combined with weak consumer demand, led to a slowdown in our customers' investments and the postponement of decisions, which weakened our demand situation in Europe throughout the year. In China, the market situation was better than in Europe and the demand situation was at a good level throughout the year. Among our customer industries, demand remained at a good level only in the defense industry and at a moderate level in the energy industry. In the other customer industries, the demand situation was difficult and there were large customer-specific differences in demand.
However, supported by acquisitions, we managed to maintain our revenue at the previous year's level. In the challenging market situation, we had to implement various adaptation measures in order to improve our operational efficiency. This caused significant non-recurring expenses, particularly in the first half of the year. In addition, our profitability was negatively affected by losses resulting from customer bankruptcies. Profitability for the full year was at a modest level. However, due to efficiency improvement measures and the optimization of working capital, our cash flow was strong throughout the year.
At the beginning of the year 2025, we published our updated strategy "Transformation with AI" to respond to the changes driven by the development of AI in our industry. During the year, we have taken numerous measures and continued to invest in the implementation of the strategy. We continuously develop our competence base through training and recruitment, and we see significant growth opportunities in leveraging AI. The company's transformation is progressing, and we will continue to invest and take actions to accelerate the implementation of the change and our strategy also in 2026. As part of the transformation, however, we must also make difficult decisions and in some areas adjust our operations to meet future needs.
Our largest investments in leveraging AI in our business have focused on developing our service offering. During the year, we increased the share of revenue derived from AI-driven service solutions to five percent, which is a good start. Our Technical Communication and Data Solutions service area was especially successful in increasing the share of AI-driven service solutions. With the help of new solutions, we gained market share in the service area, achieved growth despite the difficult market situation and clearly improved the service area's profitability towards the end of the year, which is a good indication of the effectiveness of our strategy. During the year, we made changes to the management of the Software and Embedded Solutions service area to accelerate the implementation of the strategy in that service area as well. The new management has created an action plan for the implementation of the strategy. With the action plan, we aim to return the service area to a growth path and achieve a clear improvement in its profitability. The implementation of the plan has started well and is progressing on schedule.
Even though 2025 was a difficult year in many ways, we managed to develop the company further and improved our profitability in several businesses. With that in mind, I want to thank our personnel for their good work, excellent attitude and fighting spirit in a difficult market situation. The outlook for the market situation in 2026 is largely similar to what we faced at the end of 2025. Uncertainty is high. We do not know what will happen in our operating environment at any given time, and for example January was extremely challenging due to the Greenland controversy. However, we are confident that, through our own actions and strong implementation of our strategy, we can continue to develop the company and focus on profitable growth in 2026.
Market outlook 2026
The most important factor affecting Etteplan's business is the global development of the machinery and metal industry. Market uncertainty remains at a high level due to geopolitical and trade policy tensions. Due to the uncertainty and the resulting weak consumer demand, our customers are saving costs and decision-making on new investments remains slow. Projects are still being suspended and postponed. This weakens our demand situation and makes it very difficult to predict the market situation. The defense industry and the energy industry remain the segments in which demand is developing favorably. In our other customer industries, investments are generally at a low level, and the demand situation remains challenging.
Financial guidance 2026
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range and issues the following estimate:
Revenue in 2026 is estimated to be EUR 360-380 (2025: EUR 361.4) million, and
operating profit (EBIT) in 2026 is estimated to be EUR 19-25 (2025: 17.9) million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's 2025 Financial Statement Review. The complete Financial Statement Review is attached to this stock exchange release in pdf format and is also available on Etteplan's website at www.etteplan.com.
Conference call and live webcast today, February 12, 2026
Etteplan's President and CEO Juha Näkki will present the Company's result for 2025 in a conference call and a live webcast, held in English language, on February 12, 2026 starting at 3.00 p.m. (EET).
Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q4-2025/dial-in to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q4-2025. The webcast starts at 3.00 p.m. (EET). A recording of the webcast will be available later at www.etteplan.com.
Espoo, February 12, 2026
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan Oyj, Stock Exchange Release/Inside information, February 10, 2026 at 08.00 a.m. (EET)
Inside information: Etteplan initiates change negotiations in its Software and Embedded Solutions service area
Etteplan initiates change negotiations in its Software and Embedded Solutions service area. The aim of the negotiations is to adjust the service area's competence base to support the implementation of Etteplan's strategy. The change negotiations will be initiated in accordance with the Finnish Act on Cooperation within Undertakings due to financial, production-related, and operational restructuring reasons. The negotiations concern all employees in Etteplan's Software and Embedded Solutions service area in Finland, a total of 336 employees. The planned measures may lead to the termination of employment of up to 40 employees and, in addition to layoffs already implemented, to the permanent layoff or part-time employment of up to 30 employees.
"The weak market situation and the structural changes in the industry driven by artificial intelligence have reduced demand in the Software and Embedded Solutions service area, weakened its profitability, and consequently undermined the viability of its operations. Adjusting the competence base to the changes introduced by AI and accelerating the implementation of our strategy are necessary. We must now make difficult decisions so that we can continue to systematically develop the service area into an even stronger expert in industrial AI and industrial digitalization," says Harri Saikkonen, Senior Vice President, Software and Embedded Solutions.
The change negotiations will begin on February 10, 2026, and are expected to be concluded by the end of March 2026.
Espoo, February 10, 2026
Etteplan Oyj
Further information:
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.etteplan.com
ETTEPLAN OYJ, Investor News, February 5, 2026, at 1.00 p.m.
Etteplan's Financial Statement Release for 2025 to be published on February 12, 2026
Etteplan Oyj will publish its Financial Statement Release for 2025 on Thursday February 12, 2026 at approximately 1.00 p.m. (EET). The release and related presentation material will be available in Finnish and in English on the Company's website at www.etteplan.com after the publishing.
Conference call and live webcast
Etteplan's President and CEO Juha Näkki will present the Company's result for 2025 in a conference call and a live webcast, held in English language, on February 12, 2026 starting at 3.00 p.m. (EET).
Questions can be asked in Finnish and in English after the President and CEO's presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q4-2025/dial-in to ask questions through the conference call lines. After registering the participant will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q4-2025. The webcast starts at 3.00 p.m. (EET). A recording of the webcast will be available later at www.etteplan.com.
Espoo, February 5, 2026
Etteplan Oyj
For more information, please contact:
Outi Torniainen, SVP, Marketing and Communications, tel, +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ, Press Release, January 7, 2026 at 10:00 EET
Etteplan and Tampere University are starting a significant research collaboration focused on leveraging artificial intelligence in industrial applications. The goal of the partnership is to explore and develop solutions in two key areas related to industrial AI: autonomous AI agent technologies and capturing tacit knowledge into knowledge bases with the help of AI.
The collaboration will be carried out with Tampere University's GPT Lab research group, led by Professor of Software Engineering Pekka Abrahamsson. The group includes several doctoral students who will work closely with Etteplan's experts. The project will last two years, during which Etteplan will purchase research services from the university.
Exploring autonomous AI agent technologies and tacit knowledge transfer together
The research aims to identify new capabilities for autonomous AI agents that can automate entire industrial workflows, handle complex tasks, and utilize industry-specific knowledge. In addition, the project will investigate new AI methods to efficiently transform tacit knowledge into accessible and structured data formats, improving information retrieval, reducing knowledge loss during staff turnover, and accelerating decision-making.
"Autonomous AI agents and tacit knowledge management are areas where deep expertise is not yet widely available. Therefore, a research-driven approach is essential to ensure we can continue to offer innovative solutions to our customers in these fields. This collaboration also supports Etteplan's strategy to integrate AI into our service solutions and strengthens our position as a technological frontrunner," says Maaret Henriksson, AI Program Director at Etteplan.
"Autonomous AI agents and the utilization of tacit knowledge are critical factors for the future competitiveness of the industry. Working with Etteplan enables us to research and develop these themes in a genuine industrial context," says Pekka Abrahamsson, Professor of Software Engineering and Head of GPT Lab at Tampere University.
Further information:
Maaret Henriksson, AI Program Director, Etteplan, Tel. +358 50 482 0782
Outi Torniainen, SVP, Marketing and Communications, Etteplan, Tel. +358 10 307 3302
Pekka Abrahamsson, Professor, Faculty of Information Technology and Communication Sciences, Tampere University, Tel. +358 40 541 5929
About GPT Lab:
GPT Lab is a research group at Tampere University focusing on applying generative AI in software development. The team consists of professors, doctoral candidates, and researchers. GPT Lab explores new methods, models, and ethical questions related to AI in software engineering. The lab also offers companies the opportunity to test generative models in a secure environment. More information: https://www.tuni.fi/en/research/gpt-lab
Etteplan Oyj, Stock Exchange Release, December 16, 2025 at 1.00 p.m.
Etteplan's Board of Directors resolved on key personnel incentive plan
The Board of Directors of Etteplan Oyj has decided to establish a new share-based incentive plan for the Group's management and key personnel.
Etteplan's key objective is to continue profitable growth through the implementation of its strategy. The incentive plan aims to align the goals of shareholders and key personnel to increase the company's value, as well as to commit key personnel to Etteplan and offer them a competitive remuneration plan based on ownership of the company's shares.
The incentive plan supports the implementation of Etteplan's strategy and the achievement of the company's financial targets. The key earnings criteria of the plan are the growth of Etteplan Group's revenue and the development of earnings per share. Other criteria are related to the implementation of the strategy and sustainability (ESG). The plan has one earning period covering the calendar years 2026-2028.
The potential reward will be paid in 2029 partly in company shares and partly in cash after the end of the earning period. The portion paid in cash is intended to cover the taxes and tax-related payments incurred by the key employee from the reward.
Approximately 35 key people belong to the plan, including the members of Etteplan Management Group. The rewards to be paid under the plan correspond to the value of a maximum of 400,000 Etteplan shares (including the cash portion). The shares to be paid out as potential rewards will be transferred from shares held by the company or shares acquired from the market, so the incentive plan will have no dilutive effect on the share value.
In Espoo, December 16, 2025
Etteplan Oyj
Board of Directors
Further information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.etteplan.com
ETTEPLAN OYJ, Press Release, November 27, 2025 at 9:00 EET
Etteplan has signed a new framework agreement with Vattenfall AB, one of Europe's leading energy companies, to provide a wide range of technical consulting and engineering services. The agreement strengthens the long-standing collaboration between the two companies and formalizes the scope of services for the coming years.
Under the agreement, Etteplan will deliver services in, for example, project management, asset information management, quality management, automation, and mechanical design. The framework agreement covers an initial three-year period with options for extension, ensuring continuity and flexibility in meeting Vattenfall's evolving needs.
"We are proud to deepen our partnership with Vattenfall AB through this extensive framework agreement. Etteplan has collaborated with Vattenfall AB for many years, and this new agreement reflects the trust and confidence built over time. Etteplan's expertise will contribute to Vattenfall's efforts to enhance its operational efficiency and accelerate the transition toward a fossil-free future," says Matts Eriksson, Vice President, Engineering Solutions Sweden at Etteplan.
Further information:
Matts Eriksson, Vice President, Engineering Solutions Sweden, Etteplan, Tel. +46 70 310 3390
Outi Torniainen, SVP, Marketing and Communications, Etteplan, Tel. +358 10 307 3302
ETTEPLAN OYJ Interim Report October 29, 2025, at 1.00 p.m. (EET)
Etteplan Q3 2025: Profitability developed positively despite the weak market situation
Key points July-September 2025
- The Group's revenue increased by 2.8 percent and was EUR 82.2 million (7-9/2024: EUR 80.0 million). At comparable exchange rates, revenue increased by 2.4 percent.
- Operating profit (EBITA) increased by 92.7 percent and was EUR 5.6 (2.9) million, or 6.9 (3.7) percent of revenue.
- Operating profit (EBIT) increased by 184.1 percent and was EUR 4.1 (1.4) million, or 4.9 (1.8) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in July-September was EUR -0.2 (-1.4) million.
- Operating cash flow improved and was EUR 3.2 (-0.3) million.
- Basic earnings per share was EUR 0.10 (0.00).
- Etteplan issued a profit warning on October 28, 2025, and lowered its previous estimate of revenue and operating profit (EBIT) for 2025 due to weaker-than-expected development of market demand. According to the new estimate, revenue is estimated to be EUR 355-370 (2024: 361.0) million, and operating profit (EBIT) will be EUR 17-20 (2024: 18.4). In connection with the profit warning, Etteplan provided preliminary information on its revenue and operating profit (EBIT) for the third quarter.
Key points January-September 2025
- The Group's revenue decreased by 0.4 percent and was EUR 268.5 million (1-9/2024: EUR 269.7 million). At comparable exchange rates, revenue decreased by 0.9 percent.
- Operating profit (EBITA) decreased by 2.9 percent and was EUR 17.4 (17.9) million, or 6.5 (6.6) percent of revenue.
- Operating profit (EBIT) decreased by 6.4 percent and was EUR 12.6 (13.5) million, or 4.7 (5.0) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-September was EUR -2.5 (-2.1) million.
- Operating cash flow declined and was EUR 15.2 (16.8) million.
- Basic earnings per share was EUR 0.29 (0.29).
- The share of revenue derived from AI-driven service solutions developed by Etteplan increased during the review period and was 5 percent at the end of September.
Etteplan also monitors non-IFRS performance measures because they provide additional information on Etteplan's development. More information on performance measures is provided at the end of the release.
Key figures
| EUR 1,000 | 7-9/2025 | 7-9/2024 | 1-9/2025 | 1-9/2024 | 1-12/2024 |
| Revenue | 82,237 | 79,964 | 268,535 | 269,705 | 361,020 |
| Operating profit (EBITA) | 5,634 | 2,923 | 17,415 | 17,935 | 24,373 |
| EBITA, % | 6.9 | 3.7 | 6.5 | 6.7 | 6.8 |
| Operating profit (EBIT) | 4,052 | 1,426 | 12,595 | 13,457 | 18,410 |
| EBIT, % | 4.9 | 1.8 | 4.7 | 5.0 | 5.1 |
| Basic earnings per share, EUR | 0.10 | 0.00 | 0.29 | 0.29 | 0.41 |
| Equity ratio, % | 40.3 | 40.2 | 40.3 | 40.2 | 40.5 |
| Operating cash flow | 3,200 | -261 | 15,159 | 16,767 | 30,961 |
| ROCE, % | 7.5 | 3.3 | 7.9 | 9.2 | 9.4 |
| Personnel at end of the period | 3,830 | 3,870 | 3,830 | 3,870 | 3,803 |
President and CEO Juha Näkki:
Our profitability developed positively in the third quarter despite the weak market situation. The previously implemented adaptation measures improved our operational efficiency, and investments in AI-driven service solutions supported the positive development.
However, the demand situation continued to be very challenging, as uncertainty in the markets remained high. Orders received by our customers provided a modest boost to delivery project demand in the beginning of the review period, but this demand softened towards the end of the review period. Several of our customers implemented reorganizations and cost-saving measures in response to the uncertain market environment. Very few new investment projects were still initiated. Decision-making on new projects remains slow, and even existing projects are being suspended, postponed and even canceled. Product development activity also slowed down substantially after the summer holiday season. This was particularly evident in our Software and Embedded Solutions service area, where revenue declined clearly and profitability was weak. Due to weak market development, we had to implement new adaptation measures, and for example in Finland, the number of temporary layoffs turned to a clear increase in the end of the review period. The defense industry and the energy industry remained the segments in which demand developed favorably.
In spite of the weak market situation, we will continue investing in the development of our business and, in particular, our service solutions. The share of revenue derived from AI-driven service solutions increased to five percent during the review period. New solutions have enabled us to gain market share and improve profitability, especially in the Technical Communication and Data Solutions service area. During the review period, we also acquired Eltech Automation AB in Sweden. The acquisition strengthens our service offering in Sweden, particularly in production solutions.
As we enter the fourth quarter, the market situation is difficult. High market uncertainty and our customers' cost-saving measures are weakening our demand outlook. Although we have succeeded in improving our profitability, we were forced to adjust our financial guidance downwards due to weak demand. In spite of the situation, we will continue to purposefully implement our strategy. We are convinced that we are heading in the right direction and that our business will develop towards our goals when the market situation improves.
Market outlook 2025
The most important factor affecting Etteplan's business is the global development of the machinery and metal industry. Market uncertainty remains high due to geopolitical tensions and the trade war. Due to the uncertainty, our customers are implementing cost-saving measures and decision-making on new investments remains slow. Even projects that have already started are being suspended, postponed or even canceled. This weakens our demand situation and makes it very difficult to predict the market situation. The defense industry and the energy industry remained the segments in which demand developed favorably. In our other customer industries, investments are at a low level, and the demand situation remains very challenging.
Financial guidance 2025
Etteplan issued a profit warning on October 28, 2025, and lowered its previous estimate of revenue and operating profit (EBIT) for 2025.
Current financial guidance for 2025:
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range and issues the following estimate:
Revenue in 2025 is estimated to be EUR 355-370 (2024: EUR 361.0) million, and
operating profit (EBIT) in 2025 is estimated to be EUR 17-20 (2024: 18.4) million.
Previous financial guidance for 2025 (August 6, 2025):
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range and issues the following estimate:
Revenue in 2025 is estimated to be EUR 365-385 (2024: EUR 361.0) million, and
operating profit (EBIT) in 2025 is estimated to be EUR 19-24 (2024: 18.4) million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's January-September 2025 Interim Report. The complete Interim Report is attached to this stock exchange release in pdf format and is also available on Etteplan's website at www.etteplan.com.
Conference call and live webcast today, October 29, 2025
Etteplan's President and CEO Juha Näkki will present the Company's results for January-September 2025 in a conference call and a live webcast, held in English language, on October 29, 2025 starting at 2.30 p.m. (EET).
Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q3-2025/dial-in to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q3-2025. The webcast starts at 2.30 p.m. (EET). A recording of the webcast will be available later at www.etteplan.com.
Espoo, October 29, 2025
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan Oyj, Stock Exchange Release/Insider information, October 28, 2025, at 9.00 a.m EET
Profit warning - Etteplan lowers its guidance for 2025 and provides preliminary information on its third quarter financial results
In its half year financial report published on August 6, 2025, Etteplan estimated its revenue for 2025 to be EUR 365-385 million (2024: 361.0) and operating profit (EBIT) to be EUR 19-24 million (2024: 18.4).
Etteplan lowers its previous estimate of revenue and operating profit (EBIT) for 2025 due to weaker-than-expected development of market demand. According to the new estimate, revenue is estimated to be EUR 355-370 million and operating profit (EBIT) to be EUR 17-20 million.
Etteplan provides preliminary information on its revenue and operating profit (EBIT) for the third quarter. The revenue is estimated to be approximately EUR 82.2 million and the operating profit (EBIT) approximately EUR 4.1 million. The figures are unaudited.
The negative development of Etteplan's outlook is affected by the continued high level of market uncertainty due to geopolitical tensions and the trade war. Due to the uncertainty, our customers are saving their costs and decision-making on new investments is still slow. Projects that have already started are being suspended, postponed and even canceled. The demand situation continues to be very challenging, which makes it extremely difficult to predict the market situation.
Etteplan's interim report for January-September 2025 will be published on Wednesday, October 29, 2025.
Espoo, October 28, 2025
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. + 358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ, Investor News, October 22, 2025 at 1.00 p.m.
Etteplan's January-September 2025 interim report to be published on October 29, 2025
Etteplan Oyj will publish its January-September 2025 interim report on Wednesday October 29, 2025 at approximately 1.00 p.m. (EET). The release and related presentation material will be available in Finnish and in English on the Company's website at www.etteplan.com after the publishing.
Conference call and live webcast
Etteplan's President and CEO Juha Näkki will present the Company's result for January-September 2025 in a conference call and a live webcast, held in English language, on October 29, 2025 starting at 2.30 p.m. (EET).
Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q3-2025/dial-in to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q3-2025. The webcast starts at 2.30 p.m. (EET). A recording of the webcast will be later available at www.etteplan.com.
Espoo, October 22, 2025
Etteplan Oyj
For more information, please contact:
Outi Torniainen, SVP, Marketing and Communications, tel, +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ, Stock Exchange Release, September 17, 2025, at 1.00 p.m.
Etteplan Oyj's financial information in 2026
Etteplan Oyj's schedule for the financial information in 2026 is the following:
Financial information for year 2025
| Financial Statement Review 2025 | Thursday February 12, 2026 |
| Financial Statements and Annual Report | week 12/2026 |
Financial information for year 2026
| Annual General Meeting 2026 | Thursday April 9, 2026 |
| January-March 2026 Interim Report | Thursday May 7, 2026 |
| January-June 2026 Half Year Financial Report | Wednesday August 5, 2026 |
| January-September 2026 Interim Report | Thursday October 29, 2026 |
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
Espoo, September 17, 2025
Etteplan Oyj
Additional information:
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ Half Year Financial Report August 6, 2025, at 1.00 p.m.
ETTEPLAN Q2 2025: Strategy implementation progressing despite the difficult market situation
Key points April-June 2025
- The Group's revenue decreased by 1.3 percent and was EUR 91.4 million (4-6/2024: EUR 92.6 million). At comparable exchange rates, revenue decreased by 1.9 percent.
- Operating profit (EBITA) decreased by 12.1 percent and was EUR 6.0 (6.8) million, or 6.6 (7.4) percent of revenue.
- Operating profit (EBIT) decreased by 17.8 percent and was EUR 4.4 (5.3) million, or 4.8 (5.8) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in April-June was EUR -0.9 (-0.4) million.
- Operating cash flow declined and was EUR 6.9 (9.0) million.
- Basic earnings per share was EUR 0.10 (0.13).
- At the end of June, the share of revenue represented by AI-driven service solutions developed by Etteplan rose to 4 percent.
- Etteplan issued a profit warning on July 28, 2025, and lowered its previous estimate of revenue and operating profit (EBIT) for 2025 due to uncertainty in market demand and weaker-than-expected business development. According to the new estimate, revenue is estimated to be EUR 365-385 (2024: 361.0) million, and operating profit (EBIT) will be EUR 19-24 (2024: 18.4). In connection with the profit warning, Etteplan provided preliminary information on its revenue and operating profit (EBIT) for the second quarter.
Key points January-June 2025
- The Group's revenue decreased by 1.8 percent and was EUR 186.3 million (1-6/2024: EUR 189.7 million). At comparable exchange rates, revenue decreased by 2.3 percent.
- Operating profit (EBITA) decreased by 21.5 percent and was EUR 11.8 (15.0) million, or 6.3 (7.9) percent of revenue.
- Operating profit (EBIT) decreased by 29.0 percent and was EUR 8.5 (12.0) million, or 4.6 (6.3) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-June was EUR
- -2.3 (-0.7) million.
- Operating cash flow declined and was EUR 12.0 (17.0) million.
- Basic earnings per share was EUR 0.19 (0.29).
Etteplan also monitors non-IFRS performance measures because they provide additional information on Etteplan's development. More information on performance measures is provided at the end of the release.
Key figures
| EUR 1,000 | 4-6/2025 | 4-6/2024 | 1-6/2025 | 1-6/2024 | 1-12/2024 |
| Revenue | 91,430 | 92,623 | 186,298 | 189,741 | 361,020 |
| Operating profit (EBITA) | 6,002 | 6,826 | 11,781 | 15,012 | 24,373 |
| EBITA, % | 6.6 | 7.4 | 6.3 | 7.9 | 6.8 |
| Operating profit (EBIT) | 4,388 | 5,335 | 8,543 | 12,031 | 18,410 |
| EBIT, % | 4.8 | 5.8 | 4.6 | 6.3 | 5.1 |
| Basic earnings per share, EUR | 0.10 | 0.13 | 0.19 | 0.29 | 0.41 |
| Equity ratio, % | 38.4 | 38.2 | 38.4 | 38.2 | 40.5 |
| Operating cash flow | 6,946 | 8,973 | 11,959 | 17,028 | 30,961 |
| ROCE, % | 8.3 | 10.8 | 8.2 | 12.0 | 9.4 |
| Personnel at end of the period | 3,870 | 3,900 | 3,870 | 3,900 | 3,803 |
President and CEO Juha Näkki:
The second quarter of the year was short and still a difficult period for us. The escalation of the trade war further slowed down our customers' decision-making on new investments, and even some projects that had already been agreed upon were postponed or canceled. Only the demand from the defense industry and the energy industry remained at the previous level. As a result, the demand situation weakened further, contrary to our expectations, and we had to issue a profit warning and adjust our financial guidance downwards.
We again implemented new adaptation measures during the review period, which caused significant non-recurring costs and weakened our profitability. We have now adapted our organizational structure to a level that enables us to operate even in the prevailing uncertain and unpredictable market environment. We will continue to look after our operational efficiency, but we expect non-recurring costs to drop to a clearly lower level in the second half of the year.
We continued to invest in the development of our service offering and the implementation of our strategy. New service solutions improve our competitiveness and deliver significant benefits to our customers. Investments in artificial intelligence delivered results in particular, and we succeeded in doubling the share of revenue derived from AI-driven service solutions to four percent. We saw positive development in the Technical Communication and Data Solutions service area in particular. The result is encouraging and creates a foundation for growth and improving profitability in the future.
We enter the second half of the year in a highly uncertain situation. The emerging trade agreement between the EU and the United States may improve the situation, but its impact on the current year is very difficult to assess at this point. Nevertheless, we will continue the implementation of our strategy with determination, and we expect our business to develop positively as the implementation of the strategy progresses.
Market outlook 2025
The most important factor affecting Etteplan's business is the global development of the machinery and metal industry. Due to geopolitical tensions and the trade war, market uncertainty increased further. The increased uncertainty has further slowed down customers' investment decisions, and even projects that have already started are being suspended, postponed or even canceled. This weakens our demand situation and makes it very challenging to predict the market situation. Investments in the defense industry continue to increase, and investments in the energy industry are at a moderate level. In our other customer industries, investments are at a low level and the demand situation is difficult at present.
Financial guidance 2025
Etteplan issued a profit warning on July 28, 2025, and lowered its previous estimate of revenue and operating profit (EBIT) for 2025.
Current financial guidance for 2025:
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range and issues the following estimate:
Revenue in 2025 is estimated to be EUR 365-385 (2024: EUR 361.0) million, and
operating profit (EBIT) in 2025 is estimated to be EUR 19-24 (2024: 18.4) million.
Previous financial guidance for 2025 (May 5, 2025):
Etteplan specifies its financial guidance for revenue and operating profit (EBIT) within the previously communicated range and issues the following estimate:
Revenue in 2025 is estimated to be EUR 365-395 (2024: 361.0) million, and
operating profit (EBIT) in 2025 is estimated to be EUR 23-28 (2024: 18.4).
Disclosure procedure
This stock exchange release is a summary of Etteplan's January-June 2025 Half Year Financial Report. The complete Half Year Financial Report is attached to this stock exchange release in pdf format and is also available on Etteplan's website at www.etteplan.com.
Conference call and live webcast today, August 6, 2025
Etteplan's President and CEO Juha Näkki will present the Company's results for January-June 2025 in a conference call and a live webcast, held in English language, on August 6, 2025 starting at 2.30 p.m. (EEST).
Questions can be asked in Finnish and in English after the President and CEO's presentation only through conference call connection. Participants must register through this link https://palvelu.flik.fi/teleconference/?id=50051397 to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q2-2025. The webcast starts at 2.30 p.m. (EEST). A recording of the webcast will be later available at www.etteplan.com.
Espoo, August 6, 2025
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ, Investor News, July 30, 2025, at 1.00 p.m.
Etteplan's January-June 2025 half year financial report to be published on August 6, 2025
Etteplan Oyj will publish its January-June 2025 half year financial report on Wednesday August 6, 2025 at approximately 1.00 p.m. (EEST). The release and related presentation material will be available in Finnish and in English on the Company's website at www.etteplan.com after the publishing.
Conference call and live webcast
Etteplan's President and CEO Juha Näkki will present the Company's result for January-June 2025 in a conference call and a live webcast, held in English language, on August 6, 2025 starting at 2.30 p.m. (EEST).
Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection. Participants must register through this link https://palvelu.flik.fi/teleconference/?id=50051397 to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q2-2025. The webcast starts at 2.30 p.m. (EEST). A recording of the webcast will be later available at www.etteplan.com.
Espoo, July 30, 2025
Etteplan Oyj
For more information, please contact:
Outi Torniainen, SVP, Marketing and Communications, tel, +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan Oyj, Stock Exchange Release/Insider information, July 28, 2025, at 4.45 p.m. EEST
Profit warning - Etteplan lowers its guidance for 2025 and provides preliminary information on its second quarter financial results
In its interim report published on May 5, 2025, Etteplan estimated its revenue to be EUR 365-395 million (2024: 361.0) and operating profit (EBIT) to be EUR 23-28 million (2024: 18.4).
Etteplan is lowering its previous estimate of revenue and operating profit (EBIT) for 2025 due to uncertainty in market demand and weaker-than-expected business development. According to the new estimate, revenue is estimated to be EUR 365-385 million and operating profit (EBIT) to be EUR 19-24 million.
Etteplan provides preliminary information on its revenue and operating profit (EBIT) for the second quarter. The revenue is estimated to be approximately EUR 91.4 million and the operating profit (EBIT) approximately EUR 4.4 million. The figures are unaudited.
The negative development of Etteplan's outlook is affected by the high geopolitical tensions and the trade war as well as the resulting increase in market uncertainty.
"The trade war has further slowed down customers' decision-making on new projects, and even projects that have already been agreed upon have been suspended, postponed or even canceled due to uncertainty. Due to the weak market situation, our revenue and profitability will fall short of our previously estimated levels and we will have to lower our guidance. The emerging trade agreement between the EU and the United States may improve the situation, but its impact on the current year is very difficult to assess at this point," says Etteplan's President and CEO Juha Näkki.
Etteplan's half-year financial report for January-June 2025 will be published on Wednesday, August 6, 2025.
Espoo, July 28, 2025
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. + 358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
Stock exchange release, June 23, 2025, at 11.30 a.m. EEST
Changes in Etteplan Oyj's Management Group
Master of Philosophy (Computer Science) Harri Saikkonen has been appointed as the Senior Vice President, Software and Embedded Solutions service area of the technology services company Etteplan Oyj and a member of the Etteplan Oyj's Management Group as of 1st September 2025. Saikkonen most recently worked as the CEO of the Nordic and Baltic countries of the technology company Atos. He also has previous experience in international management positions at Tieto and TietoEnator. In his new position at Etteplan, Harri Saikkonen will report to President and CEO Juha Näkki.
"I would like to warmly welcome Harri Saikkonen to Etteplan and to the Management Group. Our Software and Embedded Solutions service area is an important growth area as the importance of digitalization, artificial intelligence and data increases in industry. Harri Saikkonen's diverse and extensive experience in international technology companies, business growth and change management provides a good foundation to move forward with the development of the service area and the implementation of Etteplan's artificial intelligence (AI) -driven strategy," says Juha Näkki, President and CEO of Etteplan.
Tero Leppänen, the current SVP of the Software and Embedded Solutions service area, will continue his career outside of Etteplan. "I would like to thank Tero Leppänen for his good work at Etteplan and wish him success in the future," says Näkki.
Espoo, June 23, 2025
Etteplan Oyj
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
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Company Facts
Guidance
Revenue in 2025 is estimated to be EUR 355-370 (2024: 361.0) million, and operating profit (EBIT) in 2025 is estimated to be EUR 17-20 (2024: 18.4) million.
Financial targets
Growth: revenue more than EUR 500m in 2027, of which 35% derived from AI-driven service solutions developed by Etteplan. Profitability: >10% operating profit (EBITA) of revenue. Managed Services: 75% of revenue represented by Managed Services by the end of 2027.
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