Etteplan Oyj - Financial Statement Release

Etteplan in 2012: Revenue and operating profit grew clearly

ETTEPLAN OYJ FINANCIAL STATEMENT RELEASE FEBRUARY 14, 2013 AT 02:00 P.M.


ETTEPLAN IN 2012: REVENUE AND OPERATING PROFIT GREW CLEARLY

Review period October-December 2012

- The Group's revenue grew by 6.7% and was EUR 34.9 million
  (10-12/2011: EUR 32.7 million).
- Operating profit decreased 6.0% and was EUR 1.9 million (EUR 2.0 million).
- The profit for the review period was EUR 1.2 million (EUR 1.4 million).
- Operating cash flow increased and was EUR 8.5 million (EUR 8.1 million).
- Earnings per share were EUR 0.06 (EUR 0.05).
- The Group had 1,776 employees at the end of the period (1,659).

Review period January-December 2012

- The Group's revenue grew by 12.6% and was EUR 134.5 million
  (1-12/2011: EUR 119.4 million).
- Operating profit increased by 26.6% and was EUR 8.7 million (EUR 6.9 million).
- The profit for the review period was EUR 5.6 million (EUR 4.6 million).
- Operating cash flow increased and was EUR 11.3 million (EUR 7.0 million).
- Earnings per share were EUR 0.29 (EUR 0.20).
- Etteplan acquired in March the entire share capital of Dutch-based Tedopres
  International B.V., a company focusing on technical product information
solutions. 
- The Board of Directors proposes a dividend of EUR 0.15 per share.

Outlook 2013

Market outlook
Changes in Etteplan's customers' order books quickly influence the development
of Etteplan's revenue. At the end of the review period, the order books of
Etteplan's major customers were, on average, at a lower level than in the
corresponding period in 2011. We anticipate the demand for engineering design
services in early 2013 to remain unchanged from the end of 2012 and
subsequently improve towards the end of the year. 

Financial guidance
We expect the revenue and operating profit for the year 2013 to grow compared
to 2012. The operating profit will accumulate towards the end of the year. 

Key figures

(EUR 1,000)                                     10-12/  10-12/  1-12/20  1-12/20
                                                2012    2011    12       11     
--------------------------------------------------------------------------------
Revenue                                         34,943  32,747  134,479  119,448
Earnings before interest, tax, depreciation      2,552   2,426   11,154    8,478
 and amortization and share of result of                                        
 associates (EBITDA)                                                            
EBITDA, %                                          7.3     7.4      8.3      7.1
Operating profit (EBIT)                          1,882   2,003    8,715    6,885
EBIT, %                                            5.4     6.1      6.5      5.8
Basic earnings per share, EUR                     0.06    0.05     0.29     0.20
Equity ratio, %                                   32.4    31.1     32.4     31.1
Return on capital employed (ROCE) before          17.0    21.1     20.4     17.6
 taxes, %                                                                       
Personnel at end of the period                   1,776   1,659    1,776    1,659

Juha Näkki, President and CEO of Etteplan Oyj comments the financial statement
release: 

Etteplan's business operations developed favorably in 2012. Our revenue and
operating profit increased clearly and we achieved the highest cash flow in
company's history. Our financial position strengthened and our possibilities to
develop the Group further improved. 

Demand for Etteplan's services was at a good level in the early part of 2012.
Continued uncertainty in the markets was reflected in weaker demand later in
the year, which led to growth slowing down, particularly in the fourth quarter.
Faced with challenging market conditions, our customers sought to implement
increasingly efficient operating models. Our service products allowed us to
offer our customers substantial cost savings. As a result, our market share in
global key customers grew and our revenue continued to increase also through
the fourth quarter. 

Our acquisition strategy is to increase company's competence. We continued to
execute this strategy when we acquired the Dutch-based Tedopres International,
a company specializing in technical product information solutions. With the
acquisition, Etteplan now offers the leading service portfolio in its field and
is among Europe's largest technical information service providers. Our
innovative solutions, particularly those aimed at improving the efficiency of
our customers' maintenance operations, will offer us significant growth
opportunities in 2013. 

The offshoring services of our Chinese units have become a well established
part of Etteplan's service solutions. The appeal of offshoring services has
increased under the prevailing market conditions. The ongoing changes in the
Chinese labor market will have a positive effect on the development of the
local market for engineering design services. We saw clear signs of this
development in 2012 and, as the largest Nordic provider of engineering design
services in China, we anticipate strong growth in the local market in 2013. 

The demand for engineering design services in early 2013 has remained at the
subdued levels seen in late 2012. Nevertheless, our business strategy is an
excellent match with our customers' aim of increasing the cost-efficiency of
engineering operations. For this reason, I am confident that our business will
experience continued positive development in 2013. 

Hollola, February 14, 2013

Etteplan Oyj

Board of Directors


Additional information:
Juha Näkki, President and CEO, tel. +358 400 606 372


The information presented herein has not been audited.


Releases and other corporate information are available on Etteplan's Web site
at www.etteplan.com. 


DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.etteplan.com


Etteplan is a specialist in industrial equipment engineering and technical
product information solutions and services. Etteplan's engineering expertise
and service products cover the entire life cycle of the client's products. Our
customers are global leaders in their fields and operate in areas like the
automotive, aerospace and defense industries as well as the electricity
generation and power transmission sectors, and material flow management. 

Etteplan has comprehensive competence in electronics and embedded systems
development, automation and electrical design, mechanical design and technical
product information solutions and services. 

In 2012, Etteplan had turnover of EUR 134.5 million. The company currently has
close to 1,800 experts in Finland, Sweden, China and the Netherlands.
Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.

Attachments:

Etteplan_Financial_Statement_Release_2012_EN.pdf