ETTEPLAN CONTINUES OPERATION ADJUSTMENTS IN SWEDEN
ETTEPLAN OYJ STOCK EXCHANGE RELEASE 26 JUNE 2009 at 3.30 p.m. 1(1)
ETTEPLAN CONTINUES OPERATION ADJUSTMENTS IN SWEDEN
Demand for technical design and product information services has further
declined during the second quarter of 2009. The weakened market situation
effects mainly Etteplan's operations in Sweden. In the end of 2008 and beginning
of 2009 Etteplan has signed a significant number of technical design and product
information framework agreements with global companies in Sweden. These
customers have postponed the realization of assignments during the second
quarter of 2009.
In Sweden Etteplan continues with the operation adjustments that commenced
during the first quarter of 2009 as well as with the new adjustments that
commenced during the second quarter of 2009. In addition to the previously
reported personnel reductions and reorganisation of business, the new
adjustments include further personnel reductions, cutting fixed costs and
reorganising business. The new personnel reductions affect approximately 200
employees in Sweden and will be carried out as permanent lay offs.
The adjustments will lower fixed costs, improve cost flexibility of Etteplan's
Sweden operations and utilize effectively whole group's design capacity.
Adjustments, that have now commenced, will be fully executed during the second
half of year 2009.
In 2009 the cost of the adjustments is approximately EUR 6 million. Etteplan
Oyj's full-year revenue is expected to be under EUR 120 million and operating
profit to show a loss due to non-recurring items caused by operation
adjustments.
Etteplan publishes its January-June 2009 interim report on 12 August 2009.
Hollola, 26 June 2009
Etteplan Oyj
Board of Directors
Additional information:
Matti Hyytiäinen, President and CEO, tel. +358 400 710 968
DISTRIBUTION:
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Principle media
www.etteplan.com
