ETTEPLAN OYJ Financial Statement Review February 12, 2026 at 1.00 p.m. (EET)
Etteplan 2025: Strong cash flow despite challenges
Key points October-December 2025
· The Group's revenue increased by 1.7 percent and was EUR 92.9 million (10
-12/2024: EUR 91.3 million). At comparable exchange rates, revenue increased by
0.8 percent.
· Operating profit (EBITA) increased by 5.8 percent and was EUR 6.8 (6.4)
million, or 7.3 (7.1) percent of revenue.
· Operating profit (EBIT) increased by 6.4 percent and was EUR 5.3 (5.0)
million, or 5.7 (5.4) percent of revenue.
· The combined effect of non-recurring items on operating profit (EBITA) and
operating profit (EBIT) in October-December was EUR -0.3 (-0.9) million.
· Operating cash flow improved and was EUR 16.8 (14.2) million.
· Basic earnings per share was EUR 0.13 (0.12).
Key points January-December 2025
· The Group's revenue increased by 0.1 percent and was EUR 361.4 million (10
-12/2024: EUR 361.0 million). At comparable exchange rates, revenue decreased by
0.5 percent.
· Operating profit (EBITA) decreased by 0.6 percent and was EUR 24.2 (24.4)
million, or 6.7 (6.8) percent of revenue.
· Operating profit (EBIT) decreased by 3.0 percent and was EUR 17.9 (18.4)
million, or 4.9 (5.1) percent of revenue.
· The combined effect of non-recurring items on operating profit (EBITA) and
operating profit (EBIT) in January-December was EUR -2.8 (-3.0) million.
· Operating cash flow improved and was EUR 32.0 (31.0) million.
· Basic earnings per share was EUR 0.42 (0.41).
· The implementation of the strategy continued, and the share of revenue
derived from AI-driven service solutions developed by Etteplan developed
favorably and was 5 percent at the end of December.
· The Board of Directors' dividend proposal is EUR 0.22 (0.22) per share.
Etteplan also monitors non-IFRS performance measures, because they provide
additional information on Etteplan's development. More information on
performance measures is provided at the end of the release.
Key figures
EUR 1,000 10-12/2025 10-12/2024 1-12/2025 1-12/2024 1-12/2024
Revenue 92,881 91,315 361,417 361,020 361,020
Operating 6,809 6,438 24,224 24,373 24,373
profit (EBITA)
EBITA, % 7.3 7.1 6.7 6.8 6.8
Operating 5,271 4,953 17,866 18,410 18,410
profit (EBIT)
EBIT, % 5.7 5.4 4.9 5.1 5.1
Basic earnings 0.13 0.12 0.42 0.41 0.41
per share, EUR
Equity ratio, % 40.8 40.5 40.8 40.5 40.5
Operating cash 16,846 14 194 32,005 30,961 30,961
flow
ROCE, % 9.5 10.1 8.3 9.4 9.4
Personnel at 3,777 3,803 3,777 3,803 3,803
end of the
period
President and CEO Juha Näkki:
In terms of the operating environment, the year 2025 was full of surprises.
Geopolitical tensions were at a very high level, and the erratic nature of trade
policy made our customers' decision-making difficult. These factors, combined
with weak consumer demand, led to a slowdown in our customers' investments and
the postponement of decisions, which weakened our demand situation in Europe
throughout the year. In China, the market situation was better than in Europe
and the demand situation was at a good level throughout the year. Among our
customer industries, demand remained at a good level only in the defense
industry and at a moderate level in the energy industry. In the other customer
industries, the demand situation was difficult and there were large customer
-specific differences in demand.
However, supported by acquisitions, we managed to maintain our revenue at the
previous year's level. In the challenging market situation, we had to implement
various adaptation measures in order to improve our operational efficiency. This
caused significant non-recurring expenses, particularly in the first half of the
year. In addition, our profitability was negatively affected by losses resulting
from customer bankruptcies. Profitability for the full year was at a modest
level. However, due to efficiency improvement measures and the optimization of
working capital, our cash flow was strong throughout the year.
At the beginning of the year 2025, we published our updated strategy
“Transformation with AI” to respond to the changes driven by the development of
AI in our industry. During the year, we have taken numerous measures and
continued to invest in the implementation of the strategy. We continuously
develop our competence base through training and recruitment, and we see
significant growth opportunities in leveraging AI. The company's transformation
is progressing, and we will continue to invest and take actions to accelerate
the implementation of the change and our strategy also in 2026. As part of the
transformation, however, we must also make difficult decisions and in some areas
adjust our operations to meet future needs.
Our largest investments in leveraging AI in our business have focused on
developing our service offering. During the year, we increased the share of
revenue derived from AI-driven service solutions to five percent, which is a
good start. Our Technical Communication and Data Solutions service area was
especially successful in increasing the share of AI-driven service solutions.
With the help of new solutions, we gained market share in the service area,
achieved growth despite the difficult market situation and clearly improved the
service area's profitability towards the end of the year, which is a good
indication of the effectiveness of our strategy. During the year, we made
changes to the management of the Software and Embedded Solutions service area to
accelerate the implementation of the strategy in that service area as well. The
new management has created an action plan for the implementation of the
strategy. With the action plan, we aim to return the service area to a growth
path and achieve a clear improvement in its profitability. The implementation of
the plan has started well and is progressing on schedule.
Even though 2025 was a difficult year in many ways, we managed to develop the
company further and improved our profitability in several businesses. With that
in mind, I want to thank our personnel for their good work, excellent attitude
and fighting spirit in a difficult market situation. The outlook for the market
situation in 2026 is largely similar to what we faced at the end of 2025.
Uncertainty is high. We do not know what will happen in our operating
environment at any given time, and for example January was extremely challenging
due to the Greenland controversy. However, we are confident that, through our
own actions and strong implementation of our strategy, we can continue to
develop the company and focus on profitable growth in 2026.
Market outlook 2026
The most important factor affecting Etteplan's business is the global
development of the machinery and metal industry. Market uncertainty remains at a
high level due to geopolitical and trade policy tensions. Due to the uncertainty
and the resulting weak consumer demand, our customers are saving costs and
decision-making on new investments remains slow. Projects are still being
suspended and postponed. This weakens our demand situation and makes it very
difficult to predict the market situation. The defense industry and the energy
industry remain the segments in which demand is developing favorably. In our
other customer industries, investments are generally at a low level, and the
demand situation remains challenging.
Financial guidance 2026
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical
range and issues the following estimate:
Revenue in 2026 is estimated to be EUR 360-380 (2025: EUR 361.4) million, and
operating profit (EBIT) in 2026 is estimated to be EUR 19-25 (2025: 17.9)
million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's 2025 Financial Statement
Review. The complete Financial Statement Review is attached to this stock
exchange release in pdf format and is also available on Etteplan's website at
www.etteplan.com.
Conference call and live webcast today, February 12, 2026
Etteplan's President and CEO Juha Näkki will present the Company's result for
2025 in a conference call and a live webcast, held in English language, on
February 12, 2026 starting at 3.00 p.m. (EET).
Questions can be asked in Finnish and in English after President and CEO's
presentation only through conference call connection. Participants must register
through this link https://events.inderes.com/etteplan/q4-2025/dial
-in (https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fevents.ind
eres.com%2Fetteplan%2Fq4-2025%2Fdial
-in&data=05%7C02%7Cmervi.suuronen%40etteplan.com%7C0f26d95a63dc4e7d619f08de5f374f
7a%7C1f23d6d3b1584e45b7e17631cf28c804%7C0%7C0%7C639052888339160766%7CUnknown%7CTW
FpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWF
pbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=a5Qjtygg5gCLbk9kuI1HbYJ9ONuQEbnYktG4j%2B
GaCDw%3D&reserved=0) to ask questions through the conference call lines. After
registering the participants will receive a teleconference number and a code to
join the call. The participants are asked to press *5 to join the queue for
questions.
Juha Näkki's presentation can be followed as a live webcast on
https://etteplan.events.inderes.com/q4
-2025 (https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fetteplan
.events.inderes.com%2Fq4
-2025&data=05%7C02%7Cmervi.suuronen%40etteplan.com%7C0f26d95a63dc4e7d619f08de5f37
4f7a%7C1f23d6d3b1584e45b7e17631cf28c804%7C0%7C0%7C639052888339121962%7CUnknown%7C
TWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiT
WFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=bh8gPmwW4kMMEFxQajVP7cVzHxThVee%2FCnpF
Xn0wtLA%3D&reserved=0). The webcast starts at 3.00 p.m. (EET). A recording of
the webcast will be available later at
www.etteplan.com (https://www.etteplan.com/investors).
Espoo, February 12, 2026
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at
www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan in brief
Etteplan is a growing technology service company with the purpose of bringing
people and technology together to change things for the better. Together with
our customers, we are building a world where every system, process, and product
can be made smarter, more efficient, and more sustainable. Our customers include
world's leading companies in the manufacturing industry. In 2025, we had a
revenue of EUR 361.4 million and around 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