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ETTEPLAN Q3 2021 published: Good growth continued

News – Published: 28.10.2021 9:42:34

Etteplan News release October 28, 2021

Etteplan’s Interim Report January-September 2021 has been published. You can find the Report and the related presentation materials at

Join our webcast today October 28, 2021 at 10.30 a.m. EEST here:

A recording of the webcast can be found through the same link after the live event.

More information about the webcast can be found here:

President and CEO Juha Näkki:

“The third quarter of the year got off to a slower start than we expected. After a busy first half of the year, our personnel and customers took a lot of time off, which meant that the start of projects took longer than expected. The pandemic continued to have a slight impact on the market situation and the global shortage of components began to be reflected in the demand for engineering services. Some engineering projects were postponed and some were cancelled. Nevertheless, the general demand situation remained fairly good.

Our growth rate remained good in spite of minor hindrances in the market. We invested in organic growth by establishing several new teams and we continued to develop our service offering. We also made two acquisitions during the review period: we acquired Adina Solutions Oy in Finland and BST Buck Systemtechnik GmbH in Germany. Growth was particularly strong in the Software and Embedded Solutions service area, again exceeding 30 per cent.

Market hindrances and organic investments affected our operational efficiency and our profitability declined slightly. Managed services – and continuous services in particular – represent a large share of business in the Technical Documentation Solutions service area. For this reason, the impacts of the market conditions were minor and the service area again reached an excellent level of profitability that exceeded our target.

Even though the pandemic and the component shortage maintain uncertainty in the markets, the fourth quarter started in a relatively good market situation. In the beginning of the fourth quarter, pandemic-related restrictions have been lifted in most of our operating countries and the transition to the new normal has begun. Due to the slow start of the third quarter we are specifying our financial guidance regarding Revenue. Towards the end of the review period the number of new engineering projects grew at accelerated pace and our operating efficiency improved. This creates the conditions for continued profitable growth in the final quarter of the year.”

Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302