CEO and Management group Back to Corporate governance M. Sc. (Eng) Juha Näkki has been the Company’s President and CEO from the beginning of 2012. The CEO is responsible for managing the Group’s day-to-day operations in accordance with the rules and instructions issued by the Board of Directors. The CEO may take measures that are unusual and far-reaching with regard to the scope and nature of the Company’s operations, but only with authorization from the Board of Directors. The CEO is responsible for ensuring that the Company’s accounting complies with the applicable legislation and that its asset management is arranged in a reliable manner. The CEO attends the Board meetings as the Secretary to the Board, but he is not a member of the Board of Directors. The parent Company’s CEO furthermore acts as the Group’s Chief Executive Officer. A written CEO agreement, which has been approved by the Board, has been drawn up for the CEO. The Board of Directors appoints the CEO and terminates his or her employment, as well as monitors the CEO’s activities. Further information on CEO Juha Näkki is available on the Company’s website and partly in the Annual Report 2019. Further information on the remuneration of the CEO in the financial period 2019 is available in the separate Remuneration Statement 2019 published by the Company in the Company's website. Management Group The CEO appoints members to the Management Group who are appropriate from the standpoint of line operations. The Management Group assists the CEO and also develops and monitors all matters entrusted to the Company’s management, including those connected with the Group and business unit strategies, acquisitions and major capital expenditures, divestments, the Company’s image, monthly reporting, interim reports, investor relations, and the main principles of the human resource policy. The Board of Directors approves the appointment of the Management Group members. The members of the Management Group report to the President and CEO. In the financial year 2019 the Management Group of Etteplan Oyj consisted of the following members: Juha Näkki (b. 1973), President and CEO, 104,947 shares Per-Anders Gådin (b.1965), Chief Financial Officer, 8,156 shares Petri Ikonen (b. 1964), Senior Vice President, Solutions & Technologies, 23 shares Jukka Lahtinen (b. 1963), Senior Vice President, Global Sales, no ownership Veikko Lamminen (b. 1960), Senior Vice President, Operational Excellence, 10,000 shares Kari Liuska (b. 1965), Senior Vice President, Software and Embedded Solutions, 24,198 shares Marcus Reijonen (b. 1971), Senior Vice President, HR (interim, until July 31st 2019), no ownership Riku Riikonen (b. 1977), Senior Vice President, Engineering Solutions, 8,000 shares Outi Torniainen (b. 1965), Senior Vice President, Marketing and Communications, no ownership Minna Tornikoski (b. 1970), Senior Vice President, HR (as of August 1st, 2019), no ownership Mikael Vatn (s. 1967), Senior Vice President, Technical Documentation Solutions, 2,000 shares The ownerships are listed as per December 31, 2019 and include shares possibly owned by controlled entities. Further information on the Management Group members is available on the Company’s website and partly in the Annual Report 2019. Further information on the remuneration of the Management Group in the financial period 2019 is available in the separate Remuneration Statement 2019 publishes by the Company on the Company's website. Our Management E-mail addresses firstname.lastname(at)etteplan.com Juha Näkki - President and CEO Per-Anders Gådin - CFO Petri Ikonen - Senior Vice President, Solutions and Technologies Jukka Lahtinen - Senior Vice President, Global Sales Veikko Lamminen - Senior Vice President, Operational Excellence Tom Leskinen - Senior Vice President, Software and Embedded Solutions Riku Riikonen - Senior Vice President, Engineering Solutions Outi Torniainen - Senior Vice President, Marketing and Communications Minna Tornikoski - Senior Vice President, Human Resources Mikael Vatn - Senior Vice President, Technical Documentation Solutions Juha Näkki b. 1973, President and CEO, M.Sc. (Eng.) Chairman of the Management Group since 2012, Management Group member since 2008 President and CEO of Etteplan Oyj since 2012 Vice President of Etteplan Oyj 2005-2011, Marine Business Manager of KONE Corporation 2004-2005, Sales Manager of Evac Oy 2002-2004 Main positions of trust: none Per-Anders Gådin b. 1965, CFO, M.Sc (EP), BBA Management Group member since 2009 CFO, Senior Vice President of Etteplan Oyj since 2009 CFO of Etteplan Industry AB 2002-2008, Manager of Etteplan Industry AB 1999-2002 Main positions of trust: none Petri Ikonen b. 1964, Senior Vice President, Solutions and Technologies, B.Sc. (Eng.) Management Group member since 2015 Senior Vice President, Technical Documentation of Etteplan Oyj 2015-2018 Vice President, Technical Product Information of Etteplan Oyj 2012-2014, General Manager of Etteplan Oyj 2010-2011, Managing Director, Sigma Kudos Finland Oy 2008-2009, Quality Manager, Sigma Kudos Finland Oy 2005-2008 Main positions of trust: none Jukka Lahtinen b. 1963, Senior Vice President, Global Sales, B.Sc. (Eng.) Management Group member since 2019 Senior Vice President of Etteplan Oyj since 2019 Vice President, Sales, Operations Finland of Etteplan Oyj 2016-2018, Sales Director Finland of Etteplan Oyj 2014-2016, Business Unit Director of Etteplan Oyj 2009-2014, Regional Manager of Etteplan Oyj, 2003-2008, Product factory and business line manager of Nextrom Oy, 1999-2002 Main positions of trust: none Veikko Lamminen b. 1960, Senior Vice President, Operational Excellence, B.Sc. (Eng.) Management Group member since 2012 Senior Vice President, Operations Finland of Etteplan Oyj 2012-2018 Business Unit Director of Etteplan Oyj 2009-2012, Regional Manager of Etteplan Oyj 2005-2008, Manager, Project Operations & IT of Cimcorp Oy 2003-2005 Main positions of trust: none Tom Leskinen b. 1966, Senior Vice President, Software and Embedded Solutions, Lic.Sc. (Telecommunications) and M.Sc. (Technology) Management Group member since 2020 Executive Vice President, Product Development Services, Tieto, 2015-2020; Vice President, Head of Customer specific BU, Tieto, 2014-2015; Vice President, Head of Service Practice Core and OSS, Tieto, 2013-2014; Director, Software and Service Provider Sourcing, Nokia, 2011-2013; Director, R&D Subcontracting Sourcing, Nokia, 2007-2011; Director, Releases, S60 SW platform, Nokia 2005-2007; Program manager, S60 WCDMA SW Release, Nokia, 2002-2004; various roles in R&D, Nokia, 1992-2002 Main positions of trust: none Riku Riikonen b. 1977, Senior Vice President, Engineering Solutions, M.Sc. (Eng.) Management Group member since 2015 Senior Vice President, Engineering Services of Etteplan Oyj 2015-2018 Vice President and General Manager of Etteplan China 2014, Vice President for Sales and Key Account Management of Etteplan Oyj 2012-2013, Sales Director of Etteplan Oyj 2010-2012, Territory Sales Executive of SAP 2008-2010 Main positions of trust: none Outi Torniainen b. 1965, Senior Vice President, Marketing and Communications, B.Sc (Communications) Management Group Member since 2016 Senior Vice President, Marketing and Communications since 2016; Senior Vice President, Communications and Marketing, Member of management team, Finpro 2009-2016; Director, Communications and Marketing, Member of management team, Elektrobit Oyj, 2008-2009; Vice President, Marketing and Communications, Member of management team, Stonesoft Oyj, 2005-2008; Senior Consultant, Pohjoisranta Burson Marsteller, 2003-2005; Marketing and Communication Director, Nixu Oy, 2000-2003 Main positions of trust: Chairman of the Board, Järvi-Suomen Sijoitus Oy, 2015- Minna Tornikoski b. 1970, Senior Vice President, Human Resources, M.Sc. (Industrial Engineering & Management) Management Group member since 2019 Director, Human Resources, Huhtamäki Flexible Packaging, 2016-2019; Vice President, Leadership and Talent Development, Tieto, 2012-2016; Portfolio Director, HR corporate services, Pohjola Bank, 2010-2012; Director, Consulting Services, HR4 Solutions, 2008-2010; Several senior HR positions, Nokia, 2001-2008 Main positions of trust: none Mikael Vatn b. 1967, Senior Vice President, Technical Documentation Solutions, B.Sc. (Eng.), MBA Management Group member since 2012 Senior Vice President, Operations Central and Western Europe of Etteplan Oyj 2012-2018 General Manager of Etteplan Oyj’s Swedish operations 2011-2012, CEO of Securitas Direct Sverige AB 2009-2010, CEO and Business Unit Manager of EnergoRetea 1998-2008 Main positions of trust: Member of the Board of Directors, Tyréns AB since 2009 Reasons to invest in us See more Key financial data See more 5 year history Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of cash flows 5 year history Back to Key financial data EUR 1,000, Financial period Jan 1 – Dec 31 2019 2018 2017 2016 2015 Revenue 263,292 236,477 214,768 183,938 141,143 Change in revenue, % 11.3 10.1 16.8 30.3 7.0 Operating profit (EBITA) 25,964 22,555 17,387 12,070 9,540 % of revenue 9.9 9.5 8.1 6.6 6.8 Operating profit (EBIT) 22,819 20,184 15,484 10,131 8,594 % of revenue 8.7 8.5 7.2 5.5 6.1 Profit before taxes and non-controlling interest 21,924 19,396 14,745 9,441 7,933 % of revenue 8.3 8.2 6.9 5.1 5.6 Profit for the financial year 17,387 15,280 11,586 7,604 6,189 Return on equity, % 24.1 24.4 20.9 17.4 19.5 ROCE, % 19.9 21.3 17.8 14.8 17.4 Equity ratio, % 38.9 42.9 40.7 40.0 37.8 Gross investments 36,908 16,527 7,589 30,186 9,867 % of revenue 14.0 7.0 3.5 16.4 7.0 Net gearing, % 52.6 29.8 43.0 55.9 41.6 Personnel, average 3,305 2,995 2,711 2,407 1,948 Personnel at year end 3,447 3,055 2,802 2,545 2,074 Staff costs 172,520 156,183 144,965 129,172 101,452 Back to Key financial data Read more Consolidated statement of comprehensive income Back to Key financial data EUR 1,000 Jan 1 – Dec 31, 2019 Jan 1 – Dec 31, 2018 Revenue 263,292 236,477 Other operating income 2,582 1,172 Materials and services -26,550 -21,822 Staff costs -172,520 -156,183 Other operating expenses -29,273 -33,667 Depreciation and amortization -14,712 -5,792 Operating profit (EBIT) 22,819 8.7% 20,184 8.5% Financial income 695 791 Financial expenses -1,590 -1,580 Profit before taxes 21,924 19,396 Income taxes -4,536 -4,116 Profit for the financial year 17,387 15,280 Other comprehensive income, that may be reclassified to profit or loss Currency translation differences -398 -1,200 Other comprehensive income, that will not be reclassified to profit or loss Change in fair value of equity investments at fair value through other comprehensive income -75 3 Other comprehensive income for the year, net of tax -473 -1,197 Total comprehensive income for the year 16,915 14,083 Profit for the financial year attributable to Equity holders of the parent company 17,387 15,280 Total comprehensive income attributable to Equity holders of the parent company 16,915 14,083 Earnings per share calculated from the profit attributable to equity holders of the parent company Basic earnings per share, EUR 0.70 0.62 Diluted earnings per share, EUR 0.70 0.62 The notes are an integral part of the Financial Statements. Back to Key financial data Read more Consolidated statement of financial position Back to Key financial data EUR 1,000 Dec 31, 2019 Dec 31, 2018 ASSETS Non-current assets Goodwill 79,044 65,165 Other intangible assets 27,472 20,856 Tangible assets 17,264 4,065 Investments at fair value through other comprehensive income 387 695 Other non-current receivables 54 54 Deferred tax assets 259 161 Non-current assets, total 124,480 90,995 Current assets Inventory 313 362 Work in progress 22,498 20,503 Trade and other receivables 39,332 32,367 Current tax assets 401 223 Cash and cash equivalents 15,878 16,115 Current assets, total 78,421 69,569 TOTAL ASSETS 202,901 160,564 EQUITY AND LIABILITIES Equity Share capital 5,000 5,000 Share premium account 6,701 6,701 Unrestricted equity fund 20,101 20,101 Own shares -700 -452 Cumulative translation adjustment -4,299 -3,901 Other reserves 108 231 Retained earnings 32,441 24,567 Profit for the financial year 17,387 15,280 Equity, total 76,740 67,527 Non-current liabilities Deferred tax liabilities 6,481 4,518 Interest-bearing liabilities 33,116 24,105 Other non-current liabilities 27 2,036 Non-current liabilities, total 39,624 30,659 Current liabilities Interest-bearing liabilities 23,139 12,147 Advances received 5,378 3,064 Trade and other payables 55,588 45,386 Current income tax liabilities 2,433 1,782 Current liabilities, total 86,537 62,378 Liabilities, total 126,161 93,037 TOTAL EQUITY AND LIABILITIES 202,901 160,564 The notes are an integral part of the financial statements. Back to Key financial data Read more Consolidated statement of cash flows Back to Key financial data EUR 1,000 Jan 1 - Dec 31, 2019 Jan 1 - Dec 31, 2018 OPERATING CASH FLOW Cash receipts from customers 263,365 239,983 Operating expenses paid -225,189 -212,081 Operating cash flow before financial items and taxes 38,176 27,903 Interest and payment paid for financial expenses -1,192 -956 Interest received 162 59 Income taxes paid -4,262 -3,950 Operating cash flow (A) 32,884 23,055 INVESTING CASH FLOW Purchase of tangible and intangible assets -2,063 -1,752 Acquisition of subsidiaries, net of cash acquired -21,049 -8,262 Proceeds from sale of tangible and intangible assets 81 21 Proceeds from sale of investments 215 1 Investing cash flow (B) -22,816 -9,992 Cash flow after investments (A+B) 10,068 13,063 FINANCING CASH FLOW Purchase of own shares -519 -516 Expenses paid for directed share issue 0 -7 Issue of new current loans 2,020 3,559 Repayments of current loans -8,440 -24,743 Issue of new non-current loans 13,500 22,102 Payment of finance lease liabilities -9,624 -1,765 Dividend paid -7,454 -5,684 Financing cash flow (C) -10,517 -7,054 Variation in cash (A+B+C) increase (+) / decrease (-) -449 6,009 Assets at the beginning of the financial period 16,115 10,074 Exchange gains or losses on cash and cash equivalents 212 32 Assets at the end of the financial period 15,878 16,115 The notes are an integral part of the Financial Statements. Back to Key financial data Read more Reports & presentations Browse reports and presentations Investor calendar Read more Share information See more Share information Share monitor Investment calculator Historical share prices Dividend and payment history Major shareholders Flaggings Etteplan Oyj's rights issue 2016 Share information Read more Share monitor Read more Investment calculator Read more Historical share prices Read more Dividend and payment history Read more Major shareholders Read more Flaggings Read more Etteplan Oyj's rights issue 2016 Read more Corporate governance See more General meeting Articles of association Board of Directors Nomination and Remuneration Committee Audit Committee Remuneration Risk management Insider management Transactions of managers Audit Communications General meeting Read more Articles of association Read more Board of Directors Read more Nomination and Remuneration Committee Read more Audit Committee The Board of Directors of Etteplan Oyj has appointed an Audit Committee among the Directors. The Board has confirmed the central duties and operating principles of the committee in a written charter. The Audit Committee reports regularly on its work to the Board. Read more Remuneration Read more Risk management Read more Insider management Read more Transactions of managers Read more Audit Read more Communications Read more Investor contacts & analyst coverage see more
