ETTEPLAN Q2: GROWTH CONTINUED
ETTEPLAN OYJ, INTERIM REPORT, AUGUST 11, 2011, AT 2:00 P.M.
ETTEPLAN Q2: GROWTH CONTINUED
Review period April-June 2011
- The Group's revenue for continuing operations grew 14.4% and was EUR 30.6 million (4-6/2010: EUR 26.8 million).
- Operating profit for continuing operations was EUR 1.9 million (EUR 1.9 million).
- Profit for the period for continuing operations was EUR 1.2 million (EUR 1.2 million).
- Operating cash flow was EUR 1.3 million (EUR 1.8 million).
- Earnings per share for continuing operations were EUR 0.06 (EUR 0.06).
- The number of personnel at the end of the period was 1,651 (1,483).
- Company keeps its estimate for outlook 2011 the same.
Review period January-June 2011
- The Group's revenue for continuing operations grew 16.8% and was EUR 60.3 million (1-6/2010: EUR 51.6 million).
- Operating profit for continuing operations was EUR 3.0 million (EUR 3.0 million).
- Profit for the period for continuing operations was EUR 1.9 million (EUR 1.9 million).
- Operating cash flow was EUR -0.9 million (EUR -0.9 million).
- Earnings per share for continuing operations were EUR 0.09 (EUR 0.08).
Outlook 2011
Current market outlook of machinery and equipment manufacturers is positive. The development of Etteplan's customers' order books influences quickly the development of Etteplan's revenue.
We expect the revenue and operating profit for the year 2011 to grow compared to year 2010.
Potential acquisitions in 2011 are not included in the estimate.
| Key figures* (EUR 1,000) | |||||
| 4-6/2011 | 4-6/2010 | 1-6/2011 | 1-6/2010 | 1-12/2010 | |
| Revenue | 30,648 | 26,782 | 60,293 | 51,635 | 104,786 |
| Operating profit/loss | 1,870 | 1,859 | 3,029 | 2,984 | 6,054 |
| Operating profit/loss, % | 6.1 | 6.9 | 5.0 | 5.8 | 5.8 |
| Profit/loss for the period | 1,153 | 1,211 | 1,890 | 1,903 | 4,347 |
| Profit/loss for the period, % | 3.8 | 4.5 | 3.1 | 3.7 | 4.1 |
| Equity ratio, % | 43.1 | 42.6 | 43.1 | 42.6 | 43.6 |
| Net gearing % | 42.2 | 30.4 | 42.2 | 30.4 | 24.1 |
| Total assets | 66,107 | 61,775 | 66,107 | 61,775 | 67,653 |
| *) continuing operations |
Matti Hyytiäinen, President and CEO of Etteplan Oyj, comments on the interim report:
”Business operations of Etteplan’s central customers continued to develop favorably and as a consequence demand for our company’s design services remained at a good level in the review period.
Our company’s revenue grew 14 per cent in the review period. Operating profit was at the same level with the comparison period, but improved compared to the beginning of the year. Operating profit for business operations in Sweden developed favorably compared to the previous quarter. However, it still remained at a low level. Measures to develop the profitability of operations in Sweden continue.
We continued recruitment in all our market areas. The utilization rate of design capacity was at a good level and we estimate that the utilization rate of capacity will remain at a good level during the rest of the year. Rationalization measures executed in the beginning of the year will improve profitability towards the end of the year. ”
Hollola, August 11, 2011
Etteplan Oyj
Board of Directors
Additional information:
Matti Hyytiäinen, President and CEO, tel. +358 400 710 968
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. Our customers are global leaders in their fields and operate in areas like the automotive, aerospace and defence 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 2010, Etteplan had turnover of EUR 104.8 million. The company currently has approximately 1,600 employees. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.