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Stock exchange release – Published: 28.04.2016 14:00:00



Review Period January-March 2016

– The Group’s revenue increased by 11.4% and was EUR 38.6 million (1-3/2015: EUR 34.7 million). At comparable exchange rates revenue increased by 11.2%.
– EBIT from business operations was EUR 2.2 million (EUR 2.3 million), or 5.6% (6.5%) of revenue.
– Operating profit (EBIT) was EUR 1.9 million (EUR 2.1 million), or 4.9% (5.9%) of revenue.
– The profit for the review period was EUR 1.5 million (EUR 1.4 million).
– Operating cash flow was EUR -1.7 million (EUR 0.1 million).
– Earnings per share were EUR 0.07 (EUR 0.07).
– The number of personnel increased and the Group had 2, 080 employees at the end of the review period (1, 873).
– Etteplan extended its service concept into industrial internet solutions by acquiring the entire share capitals of Espotel Oy and Soikea Solutions Oy. The acquisitions were announced on March 15, 2016, and the transactions were finalized after the review period on April 4, 2016, at which time the acquired companies’ business operations were transferred to Etteplan. The business operations of the acquired companies are consolidated in Etteplan’s group reporting from April 1, 2016.
– Etteplan’s Board of Directors is planning a rights issue of approximately EUR 14 million to finance the acquisitions. The rights issue is estimated to take place in the second quarter of 2016.
– Etteplan keeps its estimate of market outlook and financial guidance unchanged.

Market Outlook

The most important factor in the development of Etteplan’s business is the global development of the machinery and metal industry. In 2016, there are signs of improvement of European growth. Uncertainty has increased in the Finnish market, and the market situation is expected to remain weaker than in the rest of Europe. In spite of the slowing down of growth in Asian markets and increased uncertainty, the service market development is expected to continue. We expect that the good market situation in North America will continue. The demand for engineering services and technical documentation services got off to a slow start at the beginning of the year.

Financial Guidance

We expect the revenue and operating profit for the full year 2016 to grow significantly compared to 2015.

President and CEO Juha Näkki:

“The year 2016 began with substantial growth, boosted by acquisitions made in 2015. However, organic growth was slow due to the market situation and large number of holidays in the review period. Uncertainty in the global markets was reflected in demand, and the market situation was particularly difficult in Finland. Our profitability declined due to these reasons.

In the area of engineering services, new projects were slow to get started and the difficult market situation prolonged price negotiations, which had a negative impact on our profitability. The number of new investment projects was very low, which resulted in plant engineering falling short of our expectations. Nevertheless, our quotation base in plant engineering is very strong and we expect that projects will start during the year. In China, the development of the services market continued positively in spite of the slowing economic development. We acquired several new customers and, at the end of the review period, we achieved a turnaround in the number of working hours sold in the Chinese market.

In technical documentation, the development of our business was again excellent. Profitability was weakened in the review period, as expected, by the slow development of business operations in Germany and the fact that the software business accounted for a lower share of revenue than it normally does. Corrective measures to improve profitability are underway and we expect our excellent development in technical documentation to continue in 2016.

In spite of the difficult market situation, we continued the determined implementation of the Company’s growth strategy and carried out the largest acquisition in the Company’s history by acquiring the entire share capitals of Espotel Oy and Soikea Solutions Oy. These acquisitions significantly strengthened our position in the rapidly growing market for embedded systems and industrial internet solutions. We combine intelligent devices, documentation and industrial internet applications to create a unique service concept in the engineering industry. Our service concept will enable us to produce even greater value added for our customers; for example, in the service and maintenance business. I am eagerly looking forward to pursuing these new growth opportunities.”

Disclosure procedure

Etteplan follows the disclosure procedure enabled by Disclosure obligation of the issuer (7/2013) published by the Finnish Financial Supervision Authority. This stock exchange release is a summary of Etteplan’s January-March 2016 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 Investors are advised to review the complete interim report with tables.

Conference call and live webcast today, April 28, 2016

Etteplan’s President and CEO Juha Näkki will present Company’s results for January-March 2016 in a conference call and a live webcast for analysts and investors, held in English language, on April 28, 2016 starting at 3.30 p.m. Finnish time (EEST).

To participate in the conference call please dial 5-10 minutes prior to the start of the conference to +358 9 2319 5437, event password is Etteplan2016. Questions can be asked in English after President and CEO’s presentation only through conference call connection.

Juha Näkki’s presentation can be followed as a live webcast on . The webcast starts at 3.30 p.m. Finnish time (EEST). A recording of the webcast will be later available at

Vantaa, April 28, 2016

Etteplan Oyj

Board of Directors

Additional information:
Juha Näkki, President and CEO, tel. +358 400 606 372

The information presented herein has not been audited.

Releases and other corporate information are available on Etteplan’s Web site at

Nasdaq Helsinki
Major media

Etteplan’s services cover engineering, technical documentation, embedded systems and IoT solutions. Our customers are the world’s leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers’ products and engineering processes throughout the product life cycle. The results of Etteplan’s innovative engineering can be seen in numerous industrial solutions and everyday products.

In 2015, Etteplan had turnover of EUR 141.1 million. The company has about 2, 400 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan’s shares are listed on Nasdaq Helsinki Ltd under the ETT1V ticker.