ETTEPLAN OYJ EXPECTS REVENUE AND OPERATING PROFIT TO DECLINE FROM YEAR 2008; OPERATIONS ADJUSTMENT STARTED; BOARD OF DIRECTORS' PROPOSAL ON CHANGE OF DIVIDEND PAYMENT
ETTEPLAN OYJ STOCK EXCHANGE RELEASE 24 MARCH 2009 AT 9:30 A.M. 1(2)
ETTEPLAN OYJ EXPECTS REVENUE AND OPERATING PROFIT TO DECLINE FROM YEAR 2008;
OPERATIONS ADJUSTMENT STARTED; BOARD OF DIRECTORS' PROPOSAL ON
CHANGE OF DIVIDEND PAYMENT
Based on the development of January-February 2009, Etteplan Oyj expects its
full-year revenue to be under EUR 130 million. The operating profit for year
2009 is expected to decline substantially but to be positive. Potential
acquisitions in 2009 are not included in the estimate.
The impacts of the economic downturn have hit the technical design industry
harder and quicker than earlier expected. The company has started group-wide
operations adjustments to respond to the current market situation. In addition
to the personnel reduction done already the adjustments include cutting down
external services and operation costs in the whole group.
The weakened market situation is still especially apparent among the forest
industry equipment manufacturers and in the car industry where the number of
assignments has decreased, and also investment projects of our customers have
been delayed. In the energy and power transmission sector and aerospace and
defence equipment industry the demand for technical design and product
information has remained at good level.
The company will continue its investment to develop an international operating
model that aims to improve the service capability and efficient use of
resources.
ETTEPLAN OYJ BOARD OF DIRECTORS' PROPOSAL ON THE CHANGE OF DIVIDEND PAYMENT
Due to the changing economic situation Etteplan Oyj's Board of Directors has
decided to change its earlier proposal of dividend payment to the Annual General
Meeting of Shareholders, which will take place on 26 March 2009. The Board of
Directors' new proposal regarding the use of profit shown on the balance sheet
and payment of dividend is as follows:
The Board of Directors proposes to the Annual General Meeting that from the
distributable funds at the disposal if the Annual General Meeting, a dividend of
EUR 0.08 per share be paid based on the adopted balance sheet for the financial
year ended on 31 December 2008. The dividend will be paid to the shareholders
registered in the shareholders' register maintained by Euroclear Finland Ltd as
the record date. The record date of the payment of dividend is 31 March 2009.
The dividend shall be paid on 7 April 2009.
In addition to the above proposal on dividend the Board of Directors proposes
that the Annual General Meeting authorize the Board of Directors to decide
within their discretion on the payment of a possible additional dividend of EUR
0.07 per share, should the economic situation of the company allow it. The Board
of Directors could decide on the dividend in question by 31 December 2009. The
possible additional dividend based on the decision of the Board of Directors
will be paid to the shareholder, who is registered in the shareholders' registry
maintained by Euroclear Finland Ltd. on the record day of dividend payment. The
Board of Directors will decide on the record day of the dividend payment as well
as the payment day of the dividend.
Pursuant to the new proposal, section A.8 in the Notice to the Annual General
Meeting published 4 March 2009 is to read as follows:
8. Resolution on the use of the profit shown on the balance sheet and the
payment of dividend
The Board of Directors has decided to propose that from the distributable funds
at the disposal of the Annual General Meeting, a dividend of EUR 0.08 per share
be paid based on the adopted balance sheet for the financial year ended on 31
December 2008. The dividend will be paid to the shareholders registered in the
shareholders' register maintained by Euroclear Finland Ltd as the record date.
The record date of the payment of dividend is 31 March 2009. The dividend shall
be paid on 7 April 2009.
The Board of Directors has decided to propose to the Annual General Meeting that
the Annual General Meeting authorize the Board of Directors to decide within
their discretion on the payment of a possible additional dividend of EUR 0.07
per share, should the economic situation of the company allow it The Board of
Directors could decide on the dividend in question by 31 December 2009. The
possible additional dividend based on the decision of the Board of Directors
will be paid to the shareholder, who is registered in the shareholders' registry
maintained by Euroclear Finland Ltd. on the record day of dividend payment. The
Board of Directors will decide on the record day of the dividend payment as well
as the payment day of the dividend.
The notice to the Annual General Meeting is not republished.
Hollola, 24 March 2009
ETTEPLAN OYJ
Board of Directors
ADDITIONAL INFORMATION:
Matti Hyytiäinen, President and CEO, tel. +358 400 710 968
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.etteplan.com
