ETTEPLAN OYJ: INTERIM REPORT 1 JANUARY - 30 JUNE 2005

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ETTEPLAN OYJ  STOCK EXCHANGE RELEASE 9 AUGUST 2005 AT 09:00 A.M.

INTERIM REPORT 1 JANUARY - 30 JUNE 2005

ETTEPLAN'S REVENUE GROWS BY 36%; OPERATING PROFIT EUR 2.5 MILLION

- Consolidated revenue:      EUR 40.5 million (29.9 million)
- Operating profit:          EUR 2.5 million (2.3 million)
- Net profit:                EUR 1.5 million (1.2 million)
- Earnings per share:        EUR 0.17 (0.14)
- Personnel at the
  end of the period:         1,235 employees (964)

(Figures in parenthesis refer to the corresponding period of
the previous year, unless otherwise indicated.)

Etteplan's revenue and operating profit grew substantially, 
especially in its main market area, the Nordic countries. 
Almost half of the growth was organic, which was due to the
robust demand for design services and stepped-up marketing
effectiveness. Revenue grew in both of the company's segments;
revenue growth was especially buoyant in the Delivery Design
segment. The result is still burdened by the structural changes
in the automotive industry in Italy and the operational 
realignment of a major customer in Germany.

Revenue and result

Etteplan's revenue rose to EUR 40.5 million (EUR 29.9 million). 
Second-quarter revenue amounted to EUR 21.1 million (EUR 15.3
million) and first-quarter revenue to EUR 19.4 million 
(EUR 14.6 million).

Operating profit during the review period totalled EUR 2.5
million (EUR 2.3 million), representing 6.1% of revenue (7.8%).
Second-quarter operating profit amounted to EUR 1.5 million
(EUR 1.3 million), representing 7.2% of revenue (8.6%). Profit
for the period before taxes and minority interest was EUR 2.4
million (EUR 2.3 million). Taxes amounted to EUR 0.8 million
(EUR 0.8 million). Taxes have been periodized in line with the
result for the review period.

Net profit for the period amounted to EUR 1.5 million (EUR 1.2 
million). Earnings per share came in at EUR 0.17 (EUR 0.14). 
Equity per share grew by 27.3% to EUR 1.68 (EUR 1.32). Return
on investment fell compared to the previous year and was 28.2%
(32.1%).

Business operations

Etteplan operates as a partner of large and medium-sized 
internationally operating industrial companies, providing 
industrial engineering design services. The Group's design
services are divided into two segments: Delivery Design and
Product Development.

The Delivery Design segment provides services for the design 
of machinery and devices, as well as production facilities. 
Mechanical, electrical, automation and plant design and 
commissioning services are provided for project and equipment
suppliers as well as for plant owners and operators. The Product
Development segment provides design services for product
development. The services are based on long-term partnerships 
with customers and are aimed to ensure the customer's
competitiveness in the future. In addition the company has
an accredited laboratory which is specialized in electromagnetic 
disturbance measurements.

Etteplan's customer base comprises equipment manufacturers and 
end-users in the wood-processing industry as well as the process,
automotive, lifting and hoisting equipment and electronics 
industries.

Major events in the second quarter

The company landed numerous major commissions during the review 
period, particularly in Sweden and Finland. To name but one, the
company received a further order for the design of the extension 
to Nokian Tyres Plc's factory in St Petersburg. The order is
valued at just under one million euros.

The company's share was transferred to the Main List of the
Helsinki Stock Exchange in May.

Personnel

The Etteplan Group's operations and number of personnel have
grown steadily. During the review period, the Group employed 
an average of 1,203 people (934). At the end of the period, 
the payroll numbered 1,235 employees (964). The number of 
employees rose due to the business operations transferred to 
the Group; these employees are almost solely allocated to the
implementation of customer projects. 455 people worked for
the Group abroad.

Capital expenditures and financing

The Group's total capital expenditures amounted to EUR 4.1
million (EUR 1.6 million). The capital expenditures were
primarily earmarked for the expansion of business operations.

Etteplan's financial position remained strong. Total assets at
30 June 2005 stood at EUR 33.6 million (EUR 24.5 million), of
which cash and cash equivalents as well as securities held as
financial fixed assets totalled EUR 4.8 million (EUR 3.7 million).
The Group's interest-bearing liabilities at the end of the period
totalled EUR 2.6 million (EUR 1.1 million). The equity ratio was
48.9% (51.5%). Liquidity was good throughout the report period.

Shares

Etteplan Oyj's shares were transferred to the Main List of the
Helsinki Stock Exchange as from 24 May 2005. Etteplan Oyj is
quoted under the Other Services business sector of the Main List. 
The company's shares were previously quoted on the NM List of
the Helsinki Stock Exchange.

Etteplan Oyj's share capital amounts to EUR 2,274,011.50 and
the number of its shares to 9,096,046. During the report period,
the share capital was first increased on the basis of warrant 
subscriptions in January 2005 as part of the company's stock 
option programme I 2000 - 2005 (EUR 9,065) and then in connection
with the acquisition of a majority stake in ProTang AB on 
7 February 2005 (EUR 90,721.50). The new shares were entered in 
the Trade Register on 4 April 2005. The increases in the share
capital were announced in a stock exchange release on the same
day. Public trading in the subscribed shares (a total of 399,146
new shares) on the Helsinki Stock Exchange began on 5 April 2005.

On 30 June 2005, the company held 200 of its own shares 
(treasury shares). The consideration paid for the shares is 
EUR 481.00. The company did not buy back any of its own shares 
during the review period. The shares owned by the company have
no effect on the distribution of shareholdings.

The authorizations to increase the share capital by means of 
a rights issue, to buy back and transfer own shares, and to 
increase the company's share capital through a bonus issue which
the Annual General Meeting granted to the Board of Directors 
remain valid. The authorizations were not exercised during the
review period. The authorizations are presented in detail in a
stock exchange release dated 23 March 2005.

Adoption of IFRS

Etteplan Oyj changed over to accounting and financial statement
principles that are in line with IFRS (International Financial
Reporting Standards) in its financial reporting as from 
1 January 2005. The company will draft its first full IFRS 
financial statements for 2005. On 22 April 2005, Etteplan 
published a stock exchange release including the IFRS comparative
information for 2004. The interim report has been drafted in 
accordance with IFRS recognition and measurement policies.

Outlook for the future

Demand for industrial design services is expected to remain
good in the main market area, the Nordic countries.

The company has started up assessments concerning the 
reorganization of its functions in Central Europe with a view
to improving the profitability of its operations and bolstering 
its market position. The assessment of the realignment measures
and their cost impact will be completed by the end of the year.

The company continuously and systematically works towards its 
most important objective - profitable growth - organically, 
through acquisitions and by implementing outsourcing projects.


The information presented herein has not been audited.


Hollola, 9 August 2005


Etteplan Oyj

Board of Directors


For additional information, contact: CEO Heikki Hornborg,
tel. +358 3 872 9011, GSM +358 400 873 063 or CFO, Corporate
Planning Pia Björk, tel. +358 3 872 9012, GSM +358 400 241 815.



DISTRIBUTION:    Helsinki Stock Exchange
                 Principal media
                 www.etteplan.com



CONSOLIDATED PROFIT AND LOSS ACCOUNT
(EUR 1 000)                       1-6/2005  1-6/2004  1-12/2004

Revenue                             40 515    29 876     61 967
Other operating income                  68        32        121
Materials and services                -905      -786     -1 926
Staff costs                        -29 911   -21 744    -44 036
Other operating expenses            -6 373    -4 247     -9 053
Depreciation and amortization
expenses                              -912      -794     -1 630
Operating profit                     2 482     2 337      5 443
Net financial expenses                 -40        -3         42
Profit before taxes and
minority interest                    2 442     2 334      5 485
Income taxes                          -794      -763     -1 686
Minority interest                     -117      -378       -588
Net profit for the financial
period                               1 531     1 193      3 211


CONSOLIDATED BALANCE SHEET
(EUR 1 000)                      30.6.2005 30.6.2004 31.12.2004

ASSETS
Non-current assets
Goodwill                               483         0          8
Intangible assets                    7 607     4 384      5 052
Property, plant and equipment        4 044     3 871      3 904
Investments available for sales         52        45         95
Other non-current receivables           40         0          0
Non-current assets, total           12 227     8 300      9 059
Current assets
Trade receivables and other
receivables                         16 561    12 538     12 201
Investments available for sales        234       253        234
Cash and cash equivalents            4 548     3 450      6 601
Current assets, total               21 343    16 241     19 035
ASSETS TOTAL                        33 570    24 541     28 095

SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Share capital                        2 274       427        434
Share premium account                5 262     5 058      5 434
Translation difference                -233        18        -19
Retained earnings                    6 437     4 547      4 532
Net profit or loss for the period    1 531     1 193      3 211
Minority interest                    1 067     1 376      1 208
Shareholders' equity, total         16 337    12 619     14 800

Non-current liabilities
Non-current interest-bearing
liabilities                          1 657       950      1 342
Non-current liabilities, total       1 657       950      1 342
Current liabilities
Deferred tax liability                 157       205        166
Pension liability                       13       134         13
Instalment of non-current
liabilities                            772        93         28
Current interest-bearing
liabilities                            185        13         28
Trade and other payables            14 450    10 527     11 718
Current liabilities, total          15 576    10 972     11 952
Liabilities, total                  17 233    11 922     13 295
SHAREHOLDERS' EQUITY AND
LIABILITIES, TOTAL                  33 570    24 541     28 095


CONSOLIDATED CASH FLOW STATEMENT
(EUR 1 000)                       1-6/2005  1-6/2004  1-12/2004

OPERATING CASH FLOW
Cash receipts from customers        39 244    48 063     60 675
Other operating income                  68       109        121
Operating expenses paid             37 454    44 117     54 944
OPERATING CASH FLOW BEFORE
FINANCIAL ITEMS AND TAXES            1 858     4 055      5 852

Interest and payment paid for
financial expenses                      62        59         53
Interest received                       22        98         90
Dividend received                        6        11          6
Income taxes paid                      368     1 054      1 662
OPERATING CASH FLOW (A)              1 456     3 051      4 234

INVESTMENT CASH FLOW
Investment in tangible and 
intangible assets                    2 031     2 759      2 363
Sales of tangible and
intangible assets                      252       203        371
Proceeds from sale of investments       43        13         21
INVESTMENT CASH FLOW (B)            -1 737    -2 569     -2 013

FINANCING CASH FLOW
Rights issue                           188         0          0
Short-term loans, decrease              28        78        105
Long-term loans, increase                0       269        230
Long-term loans, decrease              627        78          0
Dividend paid and other
profit distribution                  1 305     1 227      2 351
FINANCING CASH FLOW (C)             -1 772    -1 035     -2 225

VARIATION IN WORKING CAPITAL (A + B + C)
INCREASE (+)/DECREASE (-)           -2 053      -553         -5

ASSETS IN THE BEGINNING
OF THE FINANCIAL PERIOD              6 601     7 160      6 606
ASSETS AT THE END
OF THE FINANCIAL PERIOD              4 548     6 606      6 601


The comparison figures 2004 in the consolidated cash flow 
statement are according to FAS.


Evaluation of the changes in shareholders' equity, EUR 1 000

               Share   Share   Trans- Retained Minority   Total
               capital premium lation earnings interest
                       account differ.
Shareholders'
equity on
1.1.2004           427   5 058       0   6 885    2 194  14 564
Dividends paid                          -2 351     -345  -2 696
Acquisitions/
changes in share
of ownership                                       -852    -852
Net profit for
the financial
period                                   1 193      378   1 571
Translation
difference                          31                1      32
Shareholders'
equity on
30.6.2004          427   5 058      31   5 727    1 376  12 619

Shareholders'
equity on
1.1.2005           434   5 434     -19   7 743    1 208  14 800
Dividends paid                          -1 305     -213  -1 518
Share issue      1 739  -1 739                                0
Increase in
share capital       91   1 388               0            1 479
Options             10     179               0              189
Acquisitions/
changes in share
ownership                                           -42     -42
Net profit for
the financial
period                                   1 531      117   1 648
Translation
difference                        -214               -5    -219
Shareholders'
equity on
30.6.2005        2 274   5 262    -233   7 969    1 065  16 337


KEY FIGURES
                             1-6/2005 1-6/2004 1-12/2004 Changes
                                                         for prev.
                                                         year
Revenue                        40 515   29 876    61 967   35,6 %
Operating profit                2 482    2 337     5 443    6,2 %
Operating profit, %               6,1      7,8       8,8
Profit before taxes and
minority interest               2 442    2 334     5 485    4,6 %
Net profit for the period       1 531    1 193     3 211   28,3 %
Return on investment, %          28,2     32,1      34,7
Return on equity, %              21,2     23,8      25,9
Equity ratio, %                  48,9     51,5      52,9
Gross interest-bearing loans    2 614    1 056     1 398  147,5 %
Net gearing, %                  -13,0      -21       -37
Balance sheet total            33 570   24 541    28 095   36,8 %
Gross investments               4 104    1 622     2 384  145,5 %

Earnings per share               0,17     0,14      0,37   21,4 %
Equity per share                 1,68     1,32      1,57   27,3 %

Personnel at the end of
the period                      1 235      964     1 049   27,5 %
Personnel, average              1 203      934       965   28,7 %

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