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 2018. Further information on the remuneration of the CEO in the financial period 2018 is available in the separate Remuneration Statement 2018 published by the Company in the Company's website at www.etteplan.com. 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. As of the beginning of year 2019 the Management Group of Etteplan Oyj consists of the following members: Juha Näkki (s. 1973), President and CEO Per-Anders Gådin (s.1965), Chief Financial Officer Petri Ikonen (s. 1964), Senior Vice President, Solutions & Technologies Jukka Lahtinen (s. 1963), Senior Vice President, Global Sales Veikko Lamminen (s. 1960), Senior Vice President, Operational Excellence Marcus Reijonen (1971), Senior Vice President, HR (interim, until June 30th 2019) Kari Liuska (s. 1965), Senior Vice President, Software and Embedded Solutions Riku Riikonen (s. 1977), Senior Vice President, Engineering Solutions Outi Torniainen (s. 1965), Senior Vice President, Marketing and Communications Mikael Vatn (s. 1967), Senior Vice President, Technical Documentation Solutions Please see our release on changes in the Management Group from April 25, 2019. Read more. In the financial period 2018 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, 1,123 shares Veikko Lamminen (born 1960), Senior Vice President, Operations Finland, 10,000 shares Outi-Maria Liedes (born 1956), Senior Vice President, HR & Operational Development, 8,795 shares Kari Liuska (born 1965), Senior Vice President, Embedded systems & IoT, 27,198 shares Riku Riikonen (born 1977), Senior Vice President, Engineering services, 8,000 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, 2018 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 2018. Further information on the remuneration of the Management Group in the financial period 2018 is available in the separate Remuneration Statement 2018 publishes by the Company on the Company's website at www.etteplan.com. Our Management E-mail addresses firstname.lastname(at)etteplan.com Please see our release on changes in the Management Group from April 25, 2019. Read more. Juha Näkki - President and CEO Per-Anders Gådin - CFO Petri Ikonen - Senior Vice President, Solutions & Technologies Jukka Lahtinen - Senior Vice President, Global Sales Veikko Lamminen - Senior Vice President, Operational Excellence Kari Liuska - 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 & 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 Kari Liuska b. 1965, Senior Vice President, Software and Embedded Solutions, M.Sc. (Telecommunications), B.Sc. (Engineering) Management Group member since 2016 Senior Vice President, Embedded Systems and IoT of Etteplan Oyj 2016-2018 CEO of Espotel Oy 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 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, Ccea Oy 2018- Board Member, Ccea Oy, since 2011 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 2018 IFRS 2017 IFRS 2016 IFRS 2015 IFRS 2014 IFRS Revenue 236,477 214,768 183,938 141,143 131,916 Change in revenue, % 10.1 16.8 30.3 7.0 -1.9 Operating profit (EBITA) 22,555 17,387 12,070 9,540 8,933 % of revenue 9.5 8.1 6.6 6.8 6.8 Operating profit (EBIT) 20,184 15,484 10,131 8,594 7,856 % of revenue 8.5 7.2 5.5 6.1 6.0 Profit before taxes and non-controlling interest 19,396 14,745 9,441 7,933 7,168 % of revenue 8.2 6.9 5.1 5.6 5.4 Profit for the financial year 15,280 11,586 7,604 6,189 6,147 Return on equity, % 24.4 20.9 17.4 19.5 22.7 ROCE, % 21.3 17.8 14.8 17.4 17.8 Equity ratio, % 42.9 40.7 40.0 37.8 39.5 Gross investments 16,527 7,589 30,186 9,867 3,565 % of revenue 7.0 3.5 16.4 7.0 2.7 Net gearing, % 29.8 43.0 55.9 41.6 56.5 Personnel, average 2,995 2,711 2,407 1,948 1,813 Personnel at year end 3,055 2,802 2,545 2,074 1,859 Wages and salaries 156,183 144,965 129,172 101,452 94,367 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, 2018 Jan 1 – Dec 31, 2017 Revenue 7 236,477 214,768 Other operating income 8 1,172 446 Materials and services 10 -21,822 -20,429 Staff costs 11 -156,183 -144,965 Other operating expenses 12 -33,667 -29,021 Depreciation and amortization 19,20 -5,792 -5,315 Operating profit (EBIT) 20,184 8.5% 15,484 7.2% Financial income 14 791 538 Financial expenses 15 -1,580 -1,277 Profit before taxes 19,396 14,745 Income taxes 17 -4,116 -3,160 Profit for the financial year 15,280 11,586 Other comprehensive income, that may be reclassified to profit or loss Currency translation differences -1,200 -727 Other comprehensive income, that will not be reclassified to profit or loss Change in fair value of investments available-for-sale 0 9 Change in fair value of equity investments at fair value through other comprehensive income 3 0 Other comprehensive income for the year, net of tax 17 -1,197 -718 Total comprehensive income for the year 14,083 10,868 Profit for the financial year attributable to Equity holders of the parent company 15,280 11,470 Non-controlling interest 0 115 15,280 11,586 Total comprehensive income attributable to Equity holders of the parent company 14,083 10,759 Non-controlling interest 0 108 14,083 10,868 Earnings per share calculated from the profit attributable to equity holders of the parent company Basic earnings per share, EUR 18 0.62 0.47 Diluted earnings per share, EUR 18 0.62 0.47 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, 2018 Dec 31, 2017 ASSETS Non-current assets Goodwill 22 65,165 59,014 Other intangible assets 19 20,856 17,875 Tangible assets 20 4,065 3,524 Investments available-for-sale 21 0 691 Investments at fair value through other comprehensive income 21 695 0 Other non-current receivables 54 88 Deferred tax assets 31 161 79 Non-current assets, total 90,995 81,270 Current assets Inventory 23 362 250 Work in progress 7 20,503 19,246 Trade and other receivables 24 32,367 33,260 Current tax assets 223 326 Cash and cash equivalents 16,115 10,074 Current assets, total 69,569 63,157 TOTAL ASSETS 160,564 144,427 EQUITY AND LIABILITIES Equity Share capital 25 5,000 5,000 Share premium account 25 6,701 6,701 Unrestricted equity fund 25 20,101 18,524 Own shares 25 -452 -80 Cumulative translation adjustment 25 -3,901 -2,701 Other reserves 25 231 228 Retained earnings 25 24,567 18,780 Profit for the financial year 25 15,280 11,470 Equity, total 67,527 57,923 Non-current liabilities Deferred tax liabilities 31 4,518 3,442 Interest-bearing liabilities 27 24,105 19,634 Other non-current liabilities 29 2,036 700 Non-current liabilities, total 30,659 23,776 Current liabilities Interest-bearing liabilities 27 12,147 15,329 Advances received 7 3,064 2,057 Trade and other payables 30 45,386 43,667 Current income tax liabilities 1,782 1,675 Current liabilities, total 62,378 62,728 Liabilities, total 93,037 86,504 TOTAL EQUITY AND LIABILITIES 160,564 144,427 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, 2018 Jan 1 - Dec 31, 2017 OPERATING CASH FLOW Cash receipts from customers 239,983 211,280 Operating expenses paid -212,081 -189,949 Operating cash flow before financial items and taxes 27,903 21,331 Interest and payment paid for financial expenses 15 -956 -773 Interest received 14 59 55 Income taxes paid 17 -3,950 -2,359 Operating cash flow (A) 23,055 18,254 INVESTING CASH FLOW Purchase of tangible and intangible assets 19, 20 -1,752 -2,105 Acquisition of subsidiaries, net of cash acquired 5 -8,262 -3,108 Proceeds from sale of tangible and intangible assets 8 21 26 Proceeds from sale of investments 1 0 Investing cash flow (B) -9,992 -5,187 Cash flow after investments (A+B) 13,063 13,067 FINANCING CASH FLOW Purchase of own shares 25 -516 -262 Expenses paid for directed share issue -7 0 Acquisition of non-controlling interest 0 -1,696 Issue of new current loans 27 3,559 607 Repayments of current loans 27 -24,743 -5,855 Issue of new non-current loans 27 22,102 5,000 Payment of finance lease liabilities 27, 28 -1,765 -1,642 Dividend paid 25 -5,684 -3,930 Financing cash flow (C) -7,054 -7,777 Variation in cash (A+B+C) increase (+) / decrease (-) 6,009 5,290 Assets at the beginning of the financial period 10,074 4,750 Exchange gains or losses on cash and cash equivalents 32 35 Assets at the end of the financial period 16,115 10,074 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 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 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
