Etteplan Oyj updates its financial targets and extends strategic period
Etteplan Oyj, Stock Exchange Release, 5.4.2023 at 9:00 A.M. EEST
Etteplan Oyj updates its financial targets and extends strategic period
Etteplan Oyj’s Board of Directors has today approved the updated financial targets, which will come into effect on April 5, 2023, and has decided to extend the 2020-2022 strategy period, first announced in the stock exchange release published on December 18, 2019, to the years 2023-2024.
On December 18, 2019, Etteplan published its financial targets for 2020-2022. The implementation of the company's strategy has progressed and the company is updating the financial targets for the years 2023-2024.
Updated financial targets for 2023-2024:
• Growth: Revenue more than EUR 500 million in 2024 (no change)
• International growth: The share of revenue coming from outside Finland is at least 55 per cent in 2024 (target % changed, previous target: 50 percent in 2024)
• Managed Services: The share of revenue from Managed Services is 75 per cent (Managed Services Index, MSI) in 2024 (no change)
• Profitability: operating profit (EBITA) over 10 per cent of revenue (target changed, previous target: 10 percent)
"The company has progressed in the right direction. Etteplan's revenue outside Finland has almost reached the set target and the company's profitability has already been at the target level. With good implementation of the strategy, the company has the conditions to improve its performance even more, and that is why we are now raising the targets", says Robert Ingman, Chairman of the Board of Etteplan Oyj.
Etteplan extends its previous strategic period
Etteplan Oyj published a strategy for the period 2020-2022 in December 18, 2019. Due to corona, the implementation of the strategy has been delayed and the company's Board of Directors has decided to extend the strategy period to 2023-2024.
"Etteplan's strategy for 2020-2022 has proved its effectiveness and our targets have steered us in the right direction, even though we had to slow down the strategy implementation due to the corona years. We will continue to implement our strategy also during the years 2023-2024. We can achieve the targets set for us with strong implementation of our strategy", says Juha Näkki, President and CEO of Etteplan Oyj.
Digitization and the growing need for talented employees are key industry trends that affect the operations of Etteplan and its customers. The importance of sustainability has grown even more and it has an essential role in the business of Etteplan and its customers.
The key objective of our strategy is to create even higher value for our customers and support them in the industrial change, and in the development of sustainable business.
The three key elements of the "Increasing value for customers" strategy are Customer value, Service solutions and Success with people.
Customer value element: the target is to further increase the customer value. By understanding the customers’ business, utilizing our wide expertise, new innovations and technologies, we can create even higher value service solutions to our customers and help them to improve their business.
Service solutions element: the target is to develop service solutions and service offerings which combine technologies, efficient processes, versatile expertise and world-class engineering tools and methods. We strive to bring new technologies as part of our service solutions and service offering, and through that improve the customer value.
Success with people element: the target is to maintain, develop and attract talented employees, with whom, and in collaboration with our customers and partners, we will succeed in executing our strategy.
For more information, please contact:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
Distribution:
Nasdaq Helsinki
Major Media
www.etteplan.com
Etteplan in brief
We are a rapidly growing technology service company specializing in software and embedded solutions, engineering solutions, and technical communication solutions. We are a forerunner in the engineering industry and we differentiate ourselves by the wide-ranging competence of our experts. Our customers include world’s leading companies in the manufacturing industry. We help them to create a better world through engineering, innovation and digitalization.
Etteplan has lead the way in the engineering field already since 1983. In 2022, we had a turnover of EUR 350.2 million. The company currently has some 4,000 professionals in Finland, Sweden, the Netherlands, Germany, Poland, Denmark and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com