Etteplan issues a profit warning: according to the preliminary result, Etteplan´s revenue for 2023 is about EUR 359 million and the operating profit (EBIT) is about EUR 25.4 million

Stock exchange release – Published: 18.01.2024 8:00:00

Etteplan Oyj, Stock Exchange Release/Insider information, January 18, 2024 at 8 a.m. EET

Etteplan issues a profit warning

According to the preliminary result, Etteplan´s revenue for 2023 is about EUR 359 million and the operating profit (EBIT) is about EUR 25.4 million

In its interim report published on October 31, 2023, Etteplan estimated its revenue for 2023 to be EUR 355-370 (2022: 350.2) million and the operating profit (EBIT) for 2023 to be EUR 26-28.5 (2022: 28.6) million.

Etteplan's revenue in 2023 is in accordance with the guidance and, according to the preliminary results, is approximately EUR 359 million. The operating profit (EBIT) for 2023 falls short of the guidance due to the weaker-than-expected business development in the last quarter of the year and, according to the preliminary result, is approximately EUR 25.4 million.

Etteplan's worse-than-expected profit level was effected by the weakening of the demand situation, the high number of sick leaves at the end of the year and the larger-than-expected number of holidays taken at Christmas time. In addition, the result was weakened by corrections in costs bookings.

Etteplan will publish the financial statement review for January-December 2023 on Thursday, February 8, 2024.

Espoo, January 18, 2024

Etteplan Oyj

Board of Directors

Additional information
Juha Näkki, President and CEO, tel. +358 10 3072077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com

Etteplan in brief

We are a rapidly growing technology service company specializing in software and embedded solutions, engineering solutions, and technical communication solutions. We are a forerunner in the engineering industry and we differentiate ourselves by the wide-ranging competence of our experts. Our customers include world’s leading companies in the manufacturing industry. We help them to create a better world through engineering, innovation and digitalization. Etteplan has lead the way in the engineering field already since 1983. In 2022, we had a turnover of EUR 350.2 million. The company currently has some 4,000 professionals in Finland, Sweden, the Netherlands, Germany, Poland, Denmark and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com