Outlook Back to Reasons to invest in us Market outlook 2022 The most important factor affecting Etteplan’s business is the global development of the machinery and metal industry. The COVID-19 pandemic continues to affect the market situation, especially in China. The war started by Russia in Ukraine, and the related energy crisis in Europe, increase uncertainty in the mar-kets and accelerate inflation, which slows down investments and affects the demand situation and supply chains. On the other hand, the unstable geopolitical climate increases the demand for investments related to the defense industry, energy efficiency and the green transition. Forecasting remains difficult and the demand situation is fluctuating. We, nevertheless, expect the general demand situation to remain fairly good throughout 2022. Financial guidance 2022 Financial guidance 2022 (published on October 31, 2022) Etteplan specifies its financial guidance for Revenue and Operating profit EBIT) within the previously com-municated range and estimates: revenue in 2022 is estimated to be EUR 345-360 (2021: 300.1) million, and operating profit (EBIT) in 2022 is estimated to be EUR 28-31 (2021: 25.8) million. Previous financial guidance 2022 (published on August 10, 2022) Etteplan keeps its guidance for revenue and operating profit (EBIT) intact and issues the following esti-mate: revenue in 2022 is estimated to be EUR 340-370 (2021: 300.1) million, and operating profit (EBIT) in 2022 is estimated to be EUR 28-32 (2021: 25.8) million. For more information read our stock exchange release: ETTEPLAN Q3 2022: Forward with strong operational performance 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 2021 2020 2019 2018 2017 Revenue 300,111 259,702 263,292 236,477 214,768 Change in revenue, % 15.6 -1.4 11.3 10.1 16.8 Operating profit (EBITA) 30,139 26,172 25,964 22,555 17,387 % of revenue 10.0 10.1 9.9 9.5 8.1 Operating profit (EBIT) 25,754 22,380 22,819 20,184 15,484 % of revenue 8.6 8.6 8.7 8.5 7.2 Profit before taxes 24,867 21,080 21,924 19,396 14,745 % of revenue 8.3 8.1 8.3 8.2 6.9 Profit for the financial year 20,044 17,077 17,387 15,280 11,586 Return on equity, % 21.6 20.8 24.1 24.4 20.9 ROCE, % 16.0 16.0 19.9 21.3 17.8 Equity ratio, % 39.7 40.5 38.9 42.9 40.7 Gross investments 30,582 29,697 36,908 16,527 7,589 % of revenue 10.2 11.4 14.0 7.0 3.5 Net gearing, % 48.6 46.6 52.6 29.8 43.0 Personnel, average 3,480 3,320 3,305 2,995 2,711 Personnel at year end 3,629 3,267 3,447 3,055 2,802 Employee benefits expenses 197,596 177,301 172,520 156,183 144,965 Back to Key financial data Read more Consolidated statement of comprehensive income Back to Key financial data EUR 1,000 Jan 1 - Dec 31, 2021 Jan 1 – Dec 31, 2020 Revenue 300,111 259,702 Other operating income 1,289 3,622 Materials and services -31,685 -23,317 Employee benefits expenses -197,596 -177,301 Other operating expenses -28,527 -22,300 Depreciation and amortization -17,839 -18,026 Operating profit (EBIT) 25,754 8,6% 22,380 8.6% Financial income 593 422 Financial expenses -1,480 -1,722 Profit before taxes 24,867 21,080 Income taxes -4,823 -4,003 Profit for the financial year 20,044 17,077 Other comprehensive income, that may be reclassified to profit or loss Currency translation differences -589 1,415 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 32 -7 Other comprehensive income for the year, net of tax -557 1,409 Total comprehensive income for the year 19,487 18,486 Profit for the financial year attributable to Equity holders of the parent company 20,044 17,077 Total comprehensive income attributable to Equity holders of the parent company 19,487 18,486 Earnings per share calculated from the profit attributable to equity holders of the parent company Basic earnings per share, EUR 0.80 0.69 Diluted earnings per share, EUR 0.80 0.69 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, 2021 Dec 31, 2020 ASSETS Non-current assets Goodwill 92,380 83,685 Other intangible assets 28,807 26,011 Tangible assets 24,759 25,698 Investments at fair value through other comprehensive income 418 378 Other non-current receivables 54 54 Deferred tax assets 731 493 Non-current assets, total 147,150 136,320 Current assets Inventory 376 336 Work in progress 26,810 17,764 Trade and other receivables 47,988 38,883 Current tax assets 273 208 Cash and cash equivalents 30,356 24,407 Current assets, total 105,803 81,598 TOTAL ASSETS 252,953 217,918 EQUITY AND LIABILITIES Equity Share capital 5,000 5,000 Share premium account 6,701 6,701 Unrestricted equity fund 22,037 20,101 Own shares -1,245 -124 Cumulative translation adjustment -3,473 -2,884 Other reserves 133 101 Retained earnings 69,761 58,178 Equity, total 98,914 87,074 Non-current liabilities Deferred tax liabilities 7,408 6,502 Loans from financial institutions 30,350 12,900 Lease liabilities 8,777 8,608 Other non-current liabilities 827 27 Non-current liabilities, total 47,362 28,038 Current liabilities Loans from financial institutions 25,453 27,583 Lease liabilities 13,894 15,883 Advances received 3,891 2,770 Trade and other payables 61,673 54,608 Current income tax liabilities 1,766 1,962 Current liabilities, total 106,677 102,806 Liabilities, total 154,039 130,844 TOTAL EQUITY AND LIABILITIES 252,953 217,918 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, 2021 Jan 1 - Dec 31, 2020 OPERATING CASH FLOW Cash receipts from customers 287,564 267,784 Operating expenses paid -253,056 -223,600 Operating cash flow before financial items and taxes 34,508 44,184 Interest and payment paid for financial expenses -1,289 -1,257 Interest received 80 79 Income taxes paid -6,205 -5,010 Operating cash flow (A) 27,093 37,997 INVESTING CASH FLOW Purchase of tangible and intangible assets -2,157 -1,639 Acquisition of subsidiaries, net of cash acquired -14,255 -5,885 Proceeds from sale of tangible and intangible assets 17 30 Proceeds from repayment of loans 73 0 Investing cash flow (B) -16,321 -7,494 Cash flow after investments (A+B) 10,772 30,503 FINANCING CASH FLOW Proceeds from directed share issue 1,936 0 Purchase of own shares -1,382 0 Issue of new current loans 6,941 11,698 Repayments of current loans -30,060 -12,217 Issue of new non-current loans 37,503 0 Repayments of non-current loans -6 -695 Payment of lease liabilities -11,478 -12,131 Dividend paid -8,461 -8,682 Financing cash flow (C) -5,007 -22,028 Variation in cash (A+B+C) increase (+) / decrease (-) 5,765 8,475 Assets at the beginning of the financial period 24,407 15,878 Exchange gains or losses on cash and cash equivalents 184 55 Assets at the end of the financial period 30,356 24,407 The notes are an integral part of the Financial Statements. 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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 CEO and Management group 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
