Etteplan Oyj - Interim report (Q1 and Q3)

Etteplan Q3: Steady development in uncertain market conditions

ETTEPLAN OYJ INTERIM REPORT OCTOBER 31, 2012 AT 02:00 P.M.

ETTEPLAN Q3: Steady development in uncertain market conditions

Review period July-September 2012

- The Group's revenue grew by 9.5% and was EUR 28.9 million (7-9/2011: EUR 26.4
million). 
- Operating profit increased by 1.0% and was EUR 1.9 million (EUR 1.9 million).
- The profit for the review period was EUR 1.0 million (EUR 1.3 million).
- Operating cash flow decreased and was EUR -1.2 million (EUR -0.5 million).
- Earnings per share were EUR 0.05 (EUR 0.06).
- The Group had 1,773 employees at the end of the period (1,640).
- Etteplan adjusts its estimate of market outlook and keeps its financial
guidance for 2012 
  as presented in Q1 interim report.

Review period January-September 2012

- The Group's revenue grew by 14.8% and was EUR 99.5 million (1-9/2011: EUR
86.7 million). 
- Operating profit increased by 40.0% and was EUR 6.8 million (EUR 4.9 million).
- The profit for the review period was EUR 4.4 million (EUR 3.2 million).
- Operating cash flow increased and was EUR 2.8 million (EUR -1.0 million).
- Earnings per share were EUR 0.23 (EUR 0.15).
- Etteplan acquired the entire share capital of Dutch-based Tedopres
International B.V., 
  a company focusing on technical product information solutions.

Outlook 2012

The development of Etteplan's customers' order books quickly influences the
development of Etteplan's revenue. The order books of Etteplan's major
customers at the end of the review period were at a good or satisfactory level.
We estimate that our market position will remain strong and the sales of our
product solutions will develop favourably. 

We expect the revenue and operating profit for the year 2012 to grow clearly
compared to 2011. 

Previous outlook 2012

The development of Etteplan's customers' order books quickly influences the
development of Etteplan's revenue. The current order books of Etteplan's major
customers are on average at a good level. We estimate that our market position
will remain strong and the sales of our product solutions will develop
favourably. 

We expect the revenue and operating profit for the year 2012 to grow clearly
compared to 2011. 

Key figures

(EUR 1,000)                              7-9/20  7-9/20  1-9/20  1-9/20  1-12/20
                                         12      11      12      11      11     
--------------------------------------------------------------------------------
Revenue                                  28,909  26,408  99,536  86,701  119,448
Earnings before interest, tax,            2,524   2,248   8,602   6,052    8,478
 depreciation and amortization and                                              
 share of result of associates (EBITDA)                                         
EBITDA, %                                   8.7     8.5     8.6     7.0      7.1
Operating profit (EBIT)                   1,871   1,853   6,833   4,882    6,885
EBIT, %                                     6.5     7.0     6.9     5.6      5.8
Basic earnings per share, EUR              0.05    0.06    0.23    0.15     0.20
Equity ratio, %                            31.4    44.3    31.4    44.3     31.1
Return on capital employed (ROCE)          15.9    17.7    20.8    15.8     17.6
 before taxes, %                                                                
Personnel at end of the period            1,773   1,640   1,773   1,640    1,659

Juha Näkki, President and CEO of Etteplan Oyj comments on the interim report:

“Our operating profit in the third quarter reached the same level as last year
- an achievement with which we can be satisfied in current market conditions.
Etteplan's operating profit for January-September 2012 is equivalent to our
operating profit for the entire year 2011. The uncertainty in the market that
has continued for a long time increased further and began to show as weakening
demand towards the end of the review period. Demand varied by customer and
customer industry. The demand from engineering industry companies operating
globally remained at a reasonably good level. Decision making with regard to
the launch of new projects and development initiatives was clearly more
cautious than in the first half of the year, in particular in small and
medium-sized companies. 

Etteplan's decision to concentrate on global key customer relationships enabled
continued growth, and with our service solutions, we managed to increase our
market share with several customers. The integration process related to the
acquisition of Tedopres proceeded as planned, and in the review period we
signed the first significant agreements that include new service solutions that
came with the acquisition. Furthermore, we continued to work determinedly to
harmonize our operational work practices and to improve their efficiency. The
ERP system project, started in the spring, is proceeding as planned and we
expect the new group-wide system to be in use next year. 

Encouraged by the strong first part of the year, we keep our financial guidance
for 2012. Interest for our efficient service solutions is at a good level, and
despite challenging market conditions, we can find new opportunities especially
in the field of technical product information.” 


Hollola, October 31, 2012


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 2011, Etteplan had turnover of EUR 119.4 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_Q3_2012_EN.pdf