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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.
Etteplan’s Q1 was softer than expected with organic net sales down 8.0% y/y (at comparable FX), a steeper drop than we forecasted. Continued weak demand, combined with significant negative NRIs, kept reported earnings at low levels.
Etteplan reports Q1 results on 5th of May. We expect still slow organic sales development while acquisitions should continue to drive sales. The first quarter offered some encouraging signs in the market, though the intensified trade war has since cast a cloud over the outlook.
Etteplan's Q4 results aligned with our estimates, with NRIs weighing on the figures. The market remains challenging which is reflected in the conservative lower range of the 2025 guidance. Going forward, Etteplan aims to continue profitable growth with the help of increased share of AI service offering.
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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
ETTEPLAN OYJ, Press Release, June 16, 2025, at 12:00 EEST
Etteplan and Kempower sign a four-year cooperation agreement on product testing - Etteplan makes further investments in its test laboratory in Jyväskylä, Finland
Technology service company Etteplan and Kempower, a developer of charging solutions for electric vehicles, have signed a four-year cooperation agreement under which Kempower will test its products at Etteplan's test laboratory in Jyväskylä, Finland. Kempower will carry out testing for its DC fast chargers in the laboratory in Jyväskylä.
To support the collaboration, Etteplan continues to invest in its test laboratory located in Aholaita area in Jyväskylä, Finland which was opened in autumn 2024. The new round of investment will further increase the laboratory's capacity and strengthen its position as one of the most significant and versatile testing environments in Finland. The laboratory offers customers comprehensive capabilities for testing electrical and electronic products under demanding conditions.
"This kind of cooperation agreement is a great vote of confidence in the expertise and quality of our Jyväskylä test laboratory. With this new investment, our testing capabilities will be further enhanced, making us an exceptionally capable testing site for power electronics," says Timo Kallinen, Director, Product Verification at Etteplan.
Etteplan's test laboratory enables customer companies to conduct a wide range of physical tests on their devices and products. The laboratory offers a broad portfolio of testing services, including electromagnetic compatibility (EMC) and radio frequency (RF) testing, as well as various antenna, environmental, and product safety tests. The facility also houses one of Northern Europe's largest vibration testers, which can be used to test the vibration resistance of products during transport or throughout their lifecycle, and a five-meter EMC chamber that allows for the testing of large industrial equipment.
One of the laboratory's unique features is its ability to provide a three-phase power supply of up to 630 amperes for the devices under test. This enables the testing of very high-power devices - a capability that only a few test laboratories in Finland can offer.
"Testing is a critical part of our product development, and Etteplan's test laboratory provides us with the flexibility and versatility to verify the compliance of our products. This strongly supports our product development and growth strategy," says Antti Kärkkäinen, Vice President, Product Development at Kempower.
Further information:
Timo Kallinen, Director, Product Verification, Etteplan, timo.kallinen@etteplan.com, tel. +358 40 700 4482
Paula Savonen, VP, Brand and Communications, Kempower, paula.savonen@kempower.com, tel. +358 400 343 851
Outi Torniainen, SVP, Marketing and Communications, Etteplan, outi.torniainen@etteplan.com, tel. +358 10 307 3302
Etteplan Oyj, Stock Exchange Release, May 14, 2025, at 4.00 p.m. EEST
Etteplan Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Riku Riikonen
Position: Other senior manager
Issuer: Etteplan Oyj
LEI: 7437006I5533R06JU690
Notification type: INITIAL NOTIFICATION
Reference number: 108389/4/4
____________________________________________
Transaction date: 2025-05-13
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009008650
Nature of transaction: DISPOSAL
Transaction details
(1): Volume: 2133 Unit price: 11.2 EUR
(2): Volume: 220 Unit price: 11.05 EUR
Aggregated transactions (2):
Volume: 2353 Volume weighted average price: 11.18598 EUR
Additional information:
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan Oyj, Stock Exchange Release, May 7, 2025, at 4.00 p.m. EEST
Etteplan Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Robert Ingman
Position: Member of the Board/Deputy member
Issuer: Etteplan Oyj
LEI: 7437006I5533R06JU690
Notification type: INITIAL NOTIFICATION
Reference number: 107152/8/10
____________________________________________
Transaction date: 2025-05-06
Venue: CEUX
Instrument type: SHARE
ISIN: FI0009008650
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 360 Unit price: 10.6 EUR
Aggregated transactions (1):
Volume: 360 Volume weighted average price: 10.6 EUR
____________________________________________
Transaction date: 2025-05-06
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009008650
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 42 Unit price: 10.4 EUR
(2): Volume: 534 Unit price: 10.45 EUR
(3): Volume: 14 Unit price: 10.55 EUR
(4): Volume: 1550 Unit price: 10.6 EUR
Aggregated transactions (4):
Volume: 2140 Volume weighted average price: 10.55832 EUR
____________________________________________
Transaction date: 2025-05-06
Venue: DHEL
Instrument type: SHARE
ISIN: FI0009008650
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 1000 Unit price: 10.375 EUR
Aggregated transactions (1):
Volume: 1000 Volume weighted average price: 10.375 EUR
____________________________________________
Transaction date: 2025-05-06
Venue: SGMU
Instrument type: SHARE
ISIN: FI0009008650
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 1500 Unit price: 10.375 EUR
Aggregated transactions (1):
Volume: 1500 Volume weighted average price: 10.375 EUR
Additional information:
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
ETTEPLAN OYJ Interim Report May 5, 2025, at 1.00 p.m. (EEST)
ETTEPLAN Q1 2025: Increased uncertainty affected demand
Key points January-March 2025
- The Group's revenue decreased by 2.3 percent and was EUR 94.9 million (1-3/2024: EUR 97.1 million). At comparable exchange rates, revenue decreased by 2.5 percent.
- Operating profit (EBITA) decreased by 29.4 percent and was EUR 5.8 (8.2) million, or 6.1 (8.4) percent of revenue.
- Operating profit (EBIT) decreased by 37.9 percent and was EUR 4.2 (6.7) million, or 4.4 (6.9) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-March was EUR -1.3 (-0.2) million.
- Operating cash flow declined and was EUR 5.0 (8.1) million.
- Basic earnings per share were EUR 0.09 (0.16).
- Etteplan specifies its financial guidance for revenue and operating profit (EBIT) within the previously communicated range and estimates that revenue in 2025 will be EUR 365-395 (2024: 361.0) million, and operating profit (EBIT) in 2025 will be EUR 23-28 (2024: 18.4) million.
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 | 1-3/2025 | 1-3/2024 | 1-12/2024 |
| Revenue | 94,868 | 97,118 | 361,020 |
| Operating profit (EBITA) | 5,779 | 8,185 | 24,373 |
| EBITA, % | 6.1 | 8.4 | 6.8 |
| Operating profit (EBIT) | 4,155 | 6,695 | 18,410 |
| EBIT, % | 4.4 | 6.9 | 5.1 |
| Basic earnings per share, EUR | 0.09 | 0.16 | 0.41 |
| Equity ratio, % | 38.7 | 39.2 | 40.5 |
| Operating cash flow | 5,013 | 8,056 | 30,961 |
| ROCE, % | 7.8 | 13.3 | 9.4 |
| Personnel at end of the period | 3,918 | 3,847 | 3,803 |
President and CEO Juha Näkki:
The first quarter of the year was unpredictable and political tensions were very high. The market situation at the beginning of the year was weak, and our customers' decision-making remained slow. Compared to the corresponding period in the previous year, the demand situation was substantially worse and our revenue decreased. The weak market situation and significant non-recurring expenses also led to a decline in our profit performance. In particular, the result of the Technical Communication and Data Solutions service area was weak. We had to continue to implement adaptation measures and made changes in our organization to improve our ability to execute our new strategy. Other non-recurring expenses were incurred from an acquisition and a significant credit loss in Germany.
During the review period, we nevertheless saw slight signs of a recovery in Europe in orders received by our customers, which also led to new investments getting started to some extent. This was reflected in slightly better demand in some of our customer industries. In Finland, for example, the number of our temporary layoffs decreased towards the end of the review period. In China, the market situation remained good. However, the development of the trade war cast a new shadow on the emerging recovery of the market situation at the end of the review period, and we have already seen some postponements and cancellations of investment decisions.
Uncertainty in the markets is now at an unprecedented level. In this situation, the only thing we can do is to focus strongly on the implementation of our strategy and direct our sales efforts to the customer industries in which we see opportunities also in the future, such as the defense industry and the energy industry. In spite of the uncertainty, we do not expect the demand situation to deteriorate further from the current low level. Even after a prolonged downturn, the wheels of industry must keep turning, and prepare for the potential improvement of the market situation at some stage. The timing of the improvement is impossible to predict at this time, but we are ready to accelerate growth as soon as the opportunity presents itself.
Market outlook 2025
The most important factor affecting Etteplan's business is the global development of the machinery and metal industry. Uncertainty has again increased in the markets due to geopolitical tensions and the global political situation. During the first quarter of the year, the market situation already showed slight signs of a recovery, until the development of the trade war increased uncertainty in the markets and weakened our demand outlook. In the changed global situation, investments related to the defense industry continue to increase, and investments in the energy industry are at a moderate level. In our other customer industries, the uncertainty in the operating environment makes it considerably more difficult for our customers to make investment decisions and keeps the demand situation at a low level. Predicting the market situation is very difficult at this time but, in spite of everything, we do not expect the demand situation to deteriorate from its current level in 2025.
Financial guidance 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 as 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) million.
Previous financial guidance 2025 (February 12, 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 365-400 (2024: 361.0) million, and
operating profit (EBIT) in 2025 is estimated to be EUR 23-30 (2024: 18.4) million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's January-March 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, May 5, 2025
Etteplan's President and CEO Juha Näkki will present the Company's results for January-March 2025 in a conference call and a live webcast, held in English language, on May 5, 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://events.inderes.com/etteplan/q1-2025/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/q1-2025. The webcast starts at 2.30 p.m. (EEST). A recording of the webcast will be available later at www.etteplan.com.
Espoo, May 5, 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, April 28, 2025, at 1.00 p.m.
Etteplan's January-March 2025 interim report to be published on May 5, 2025
Etteplan Oyj will publish its January-March 2025 interim report on Monday May 5, 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-March 2025 in a conference call and a live webcast, held in English language, on May 5, 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://events.inderes.com/etteplan/q1-2025/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/q1-2025. The webcast starts at 2.30 p.m. (EEST). A recording of the webcast will be later available at www.etteplan.com.
Espoo, April 28, 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, April 8, 2025 at 2.15 p.m.
Resolutions of the organization meeting of Etteplan Oyj's Board of Directors
The Annual General Meeting of Etteplan Oyj, held on April 8, 2025, re-elected Robert Ingman, Tomi Ristimäki, Sonja Sarasvuo, and Mikko Tepponen as members of the Board of Directors. The Annual General Meeting further elected Outi Henriksson and Katri Piirtola as new members of the Board of Directors.
The Board of Directors of Etteplan Oyj has in its organization meeting subsequent to the AGM elected Robert Ingman as Chairman of the Board of Directors.
Mikko Tepponen was elected the Chairman and Robert Ingman and Katri Piirtola as members of the Nomination and Remuneration Committee of Etteplan Oyj.
Outi Henriksson was elected the Chairman and Sonja Sarasvuo and Tomi Ristimäki as members of the Audit Committee of Etteplan Oyj.
The Board has in its organization meeting evaluated the independence of the Directors according to the Finnish Corporate Governance Code. The Board has stated that all members of the Board are independent of the Company. Outi Henriksson, Katri Piirtola, Tomi Ristimäki, and Mikko Tepponen are independent of significant shareholders.
Espoo, April 8, 2025
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2777
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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