ETTEPLAN Q3: GROWTH CONTINUED AND OPERATING PROFIT FOR THE PERIOD IMPROVED SIGNIFICANTLY
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, NOVEMBER 7, 2011, AT 02.00 P.M.
ETTEPLAN Q3: GROWTH CONTINUED AND OPERATING PROFIT FOR THE PERIOD IMPROVED SIGNIFICANTLY
Review period July-September 2011
- The Group’s revenue for continuing operations grew 14.5% and was EUR 26.4 million (7-9/2010: EUR 23.1 million).
- Operating profit for continuing operations improved 57.3% and was EUR 1.9 (EUR 1.2 million).
- Profit for the period for continuing operations was EUR 1.3 million (EUR 0.8 million).
- Operating cash flow was EUR -0.8 million (EUR -0.9 million).
- Earnings per share for continuing operations were EUR 0.06 (EUR 0.05).
- The number of personnel at the end of the period was 1,640 (1,567).
- Etteplan revises its estimate for market outlook. The company reiterates its financial guidance.
Outlook 2011
Market outlook
Currently, the order books of machinery and equipment manufacturers are at a good level. The development of Etteplan’s customers’ order books quickly influences the development of Etteplan’s revenue.
Previous estimate of market outlook
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.
Financial guidance
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.
Review period January-September 2011
- The Group’s revenue for continuing operations grew 16.1% and was EUR 86.7 million (1-9/2010: EUR 74.7 million).
- Operating profit for continuing operations improved 17.3% and was EUR 4.9 million (EUR 4.2 million).
- Profit for the period for continuing operations was EUR 3.2 million (EUR 2.7 million).
- Operating cash flow was EUR -1.6 million (EUR -1.8 million).
- Earnings per share for continuing operations were EUR 0.15 (EUR 0.13).
Key figures *)
| (EUR 1 000) | 7-9/2011 | 7-9/2010 | 1-9/2011 | 1-9/2010 | 1-12/2010 |
| Revenue | 26,408 | 23,062 | 86,701 | 74,698 | 104,786 |
| Operating profit/loss | 1,853 | 1,178 | 4,882 | 4,163 | 6,054 |
| Operating profit/loss, % | 7.0 | 5.1 | 5.6 | 5.6 | 5.8 |
| Profit/loss for the period | 1,309 | 836 | 3,199 | 2,740 | 4,347 |
| Profit/loss for the period, % | 5.0 | 3.6 | 3.7 | 3.7 | 4.1 |
| Equity ratio, % | 44.3 | 43.3 | 44.3 | 43.3 | 43.6 |
| Net gearing, % | 51.4 | 39.5 | 51.4 | 39.5 | 24.1 |
| Total assets | 65,001 | 64,500 | 65,001 | 64,500 | 67,653 |
| *) continuing operations |
Matti Hyytiäinen, President and CEO of Etteplan Oyj, comments on the interim report:
”I am very pleased with our third quarter performance. Etteplan’s operating profit for the review period grew more than 50 percent compared to the comparison period. The operating profit percent improved and reached in the review period the record Q3 profitability level in our company’s history. The development of business operations in Sweden was positive and we continued the determined work to improve Sweden’s profitability during the review period.
The orders received by Etteplan’s key customers continued to grow and we succeeded to respond to the increased needs of our customers with the help of our extensive and competitive service offering. Our market share in several key clients improved further.
Etteplan’s China operations developed favorably and our customers have been satisfied with the high quality level of our China services. The increased number of assignments has shown our customers’ trust and as a result Etteplan is currently the largest actor of Nordic companies in the field in China.”
Hollola, November 7, 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. Etteplan’s engineering expertise and service products cover the entire life cycle of the client’s products. Our customers are global leaders in their fields and operate in areas like the automotive, aerospace and defense 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 experts in Finland, Sweden, and China. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.