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 2017.

Other executives

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 period 2017 the Management Group of Etteplan consisted of the following members:

Juha Näkki (born 1973), President and CEO, 104,947 shares
Per-Anders Gådin (born 1965), Chief Financial Officer, 8,156 shares
Petri Ikonen (born 1964), Senior Vice President, Technical documentation Services, 2,876 shares
Veikko Lamminen (born 1960), Senior Vice President, Operations Finland, 19,266 shares
Outi-Maria Liedes (born 1956), Senior Vice President, HR & Operational Development, 10,795 shares
Kari Liuska (born 1963), Senior Vice President, Embedded systems & IoT, 31,200 shares
Riku Riikonen (born 1977), Senior Vice President, Engineering services, 13,209 shares
Outi Torniainen (born 1965), Senior Vice President, Communications and Marketing, no ownership
Mikael Vatn (born 1967), Senior Vice President, Operations Central and Western Europe, 2,000 shares.

The ownerships are listed as per December 31, 2017 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 2017.

Our Management

E-mail addresses firstname.lastname(at)etteplan.com

Juha Näkki - President and CEO

Per-Anders Gådin - CFO

Petri Ikonen - Senior Vice President, Technical Documentation

Veikko Lamminen - Senior Vice President, Operations Finland

Outi-Maria Liedes - Senior Vice President, HR and Operational Development

Kari Liuska - Senior Vice President, Embedded Systems & IoT

Riku Riikonen - Senior Vice President, Engineering Services

Outi Torniainen - Senior Vice President, Communications and Marketing

Mikael Vatn - Senior Vice President, Operations Central and Western Europe

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, Technical Documentation, B.Sc. (Eng.)

Management Group member since 2015
Senior Vice President of Etteplan Oyj since 2015
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

Veikko Lamminen

b. 1960, Senior Vice President, Operations Finland, B.Sc. (Eng.)

Management Group member since 2012
Senior Vice President of Etteplan Oyj since 2012
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

Outi-Maria Liedes

b. 1956, Senior Vice President, HR and Operational Development, M.Sc. (Eng.), MBA

Management Group member since 2008
Senior Vice President, HR and Operational Development since 2008
Managing Director, Stockholm School of Economics Executive Education Finland 2003-2006, Senior Vice President, Corporate Communications and IR, KONE Corporation 2002-2003, Senior Vice President, Corporate Communications and IR, Partek Oyj 2001-2002, Finnish Institute of Management LIFIM Acting Managing Director 2000, Ministry of Education Special Government Advisor 1999.
Main positions of trust: none

Kari Liuska

b. 1965, Senior Vice President, Embedded Systems & IoT, M.Sc. (Telecommunications), B.Sc. (Engineering)

Management Group member since 2016
Etteplan Oyj’s Senior Vice President, Embedded Systems and Industrial Internet since 2016
Espotel Oy’s CEO 2013-2016
Ixonos Oyj, Senior Vice President, Connected Devices 2002-2012
WTS Wireless Technology Systems Oy CEO 1998-2002
Main positions of trust:
- Chairman of the Board, Firstbeat Technologies 2006-

Riku Riikonen

b. 1977, Senior Vice President, Engineering Services, M.Sc. (Eng.)

Management Group member since 2015
Senior Vice President of Etteplan Oyj since 2015
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, Communications and Marketing, B.Sc (Communications)

Management Group Member since 2016
Senior Vice President, Communications and Marketing 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, Ccea Oy 2018-
- Board Member, Ccea Oy, since 2011
- Chairman of the Board, Järvi-Suomen Sijoitus Oy, 2015-

Mikael Vatn

b. 1967, Senior Vice President, Operations Central and Western Europe, B.Sc. (Eng.), MBA

Management Group member since 2012
Senior Vice President of Etteplan Oyj since 2012
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

Key financial data

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 2017 IFRS 2016 IFRS 2015 IFRS 2014 IFRS 2013 IFRS Revenue 214,768 183,938 141,143 131,916 128,647 Change in revenue, % 16.8 30.3 7.0 -1.9 -4.3 EBIT from business operations 17,163 12,071 9,540 7,394 6,280 % of revenue 8.0 6.6 6.8 5.6 4.9 Operating profit (EBIT) 15,484 10,131 8,594 7,856 6,366 % of revenue 7.2 5.5 6.1 6.0 4.9 Profit before taxes and non-controlling interest 14,745 9,441 7,933 7,168 5,672 % of revenue 6.9 5.1 5.6 5.4 4.4 Profit for the financial year 11,586 7,604 6,189 6,147 4,390 Return on equity, % 20.9 17.4 19.5 22.7 17.5 ROCE, % 17.8 14.8 17.4 17.8 14.6 Equity ratio, % 40.7 40.0 37.8 39.5 35.9 Gross investments 7,589 30,186 9,867 3,565 2,344 % of revenue 3.5 16.4 7.0 2.7 1.8 Net gearing, % 43.0 55.9 41.6 56.5 73.4 Personnel, average 2,711 2,407 1,948 1,813 1,736 Personnel at year end 2,802 2,545 2,074 1,859 1,728 Wages and salaries 144,965 129,172 101,452 94,367 70,363 Back to Key financial data Read more

Consolidated statement of comprehensive income

Back to Key financial data EUR 1,000 Note Jan 1 – Dec 31, 2017 Jan 1 – Dec 31, 2016 Revenue 7 214,768 183,938 Other operating income 9 446 517 Materials and services 12 -20,429 -13,893 Staff costs 13 -144,965 -129,172 Other operating expenses -29,021 -26,440 Depreciation and amortization 20, 21 -5,315 -4,818 Operating profit (EBIT) 15,484 7.2% 10,131 5.5% Financial income 15 538 555 Financial expenses 16 -1,277 -1,245 Profit before taxes 14,745 9,441 Income taxes 18 -3,160 -1,838 Profit for the financial year 11,586 7,604 Other comprehensive income, that may be subsequently reclassified to profit or loss Foreign subsidiary net investment hedge 4.1.1 0 103 Currency translation differences -727 -1,157 Change in fair value of investments available-for-sale 9 -6 Other comprehensive income for the year, net of tax 18 -718 -1,080 Total comprehensive income for the year 10,868 6,524 Profit for the financial year Equity holders of the parent company 11,470 7,436 Non-controlling interest 115 168 11,586 7,604 Total comprehensive income attributable to Equity holders of the parent company 10,759 6,356 Non-controlling interest 108 168 10,868 6,524 Earnings per share calculated from the profit attributable to equity holders of the parent company Basic earnings per share, EUR 19 0.47 0.33 Diluted earnings per share, EUR 19 0.47 0.33 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 Note Dec 31, 2017 Dec 31, 2016 ASSETS Non-current assets Tangible assets 20 3,524 2,910 Goodwill 21 59,014 58,128 Other intangible assets 21 17,875 18,036 Investments available-for-sale 22 691 680 Other non-current receivables 36 88 41 Deferred tax assets 35 79 365 Non-current assets, total 81,270 80,159 Current assets Inventory 24 250 255 Trade and other receivables 25 52,507 49,180 Current tax assets 26 326 139 Cash and cash equivalents 27 10,074 4,750 Current assets, total 63,157 54,324 TOTAL ASSETS 144,427 134,483 EQUITY AND LIABILITIES Capital attributable to equity holders of the parent company Share capital 28 5,000 5,000 Share premium account 28 6,701 6,701 Unrestricted equity fund 28 18,524 18,524 Own shares 28 -80 -386 Cumulative translation adjustment 28 -2,701 -1,981 Other reserves 28 228 219 Retained earnings 28 18,780 17,099 Profit for the financial year 28 11,470 7,436 Capital attributable to equity holders of the parent company, total 57,923 52,613 Non-controlling interest 37 0 165 Equity, total 57,923 52,777 Non-current liabilities Deferred tax liabilities 35 3,442 3,293 Interest-bearing liabilities 30 19,634 23,807 Other non-current liabilities 32 700 649 Non-current liabilities, total 23,776 27,750 Current liabilities Interest-bearing liabilities 30 15,329 10,461 Trade and other payables 33 45,724 42,513 Current income tax liabilities 34 1,675 982 Current liabilities, total 62,728 53,956 Liabilities, total 86,504 81,706 TOTAL EQUITY AND LIABILITIES 144,427 134,483 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 Note Jan 1 - Dec 31, 2017 Jan 1 - Dec 31, 2016 OPERATING CASH FLOW Cash receipts from customers 211,280 174,644 Operating expenses paid -189,949 -165,607 Operating cash flow before financial items and taxes 21,331 9,037 Interest and payment paid for financial expenses 16 -773 -813 Interest received 15 55 44 Income taxes paid 18 -2,359 -2,606 Operating cash flow (A) 18,254 5,661 INVESTING CASH FLOW Purchase of tangible and intangible assets 20, 21 -2,105 -1,879 Acquisition of subsidiaries, net of cash acquired 5 -3,108 -22,262 Proceeds from contingent asset 9 0 215 Proceeds from sale of tangible and intangible assets 9 26 24 Purchase of investments 25 0 -10 Loan receivables, decrease 25 0 45 Investing cash flow (B) -5,187 -23,866 Cash flow after investments (A+B) 13,067 -18,204 FINANCING CASH FLOW Share issue net of cost 28 0 13,937 Purchase of own shares 28 -262 -693 Acquisition of non-controlling interest 37 -1,696 0 Short-term loans, increase 30 607 11,685 Short-term loans, decrease 30 -5,855 -22,547 Long-term loans, increase 30 5,000 20,601 Long-term loans, decrease 30 0 -4,569 Payment of finance lease liabilities 30,31 -1,642 -1,184 Dividend paid and other profit distribution 28 -3,930 -3,046 Financing cash flow (C) -7,777 14,184 Variation in cash (A+B+C) increase (+) / decrease (-) 5,290 -4,020 Assets at the beginning of the financial period 4,750 8,807 Exchange gains or losses on cash and cash equivalents 35 -37 Assets at the end of the financial period 27 10,074 4,750 The notes are an integral part of the financial statements. Back to Key financial data Read more