ETTEPLAN OYJ Interim Report October 29, 2026, at 9.00 a.m. (EET)
Etteplan Q3 2026: A challenging quarter ended with signs of improving demand
Key points July-September 2026
- The Group's revenue decreased by 4.6 percent and was EUR 78.4 million (7-9/2025: EUR 82.2 million). At comparable exchange rates, revenue decreased by 4.6 percent.
- Operating profit (EBITA) decreased by 15.1 percent and was EUR 4.8 (5.6) million, or 6.1 (6.9) percent of revenue.
- Operating profit (EBIT) decreased by 13.0 percent and was EUR 3.5 (4.1) million, or 4.5 (4.9) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in July-September was EUR -0.5 (-0.2) million.
- Operating cash flow was EUR -0.4 (3.2) million.
- Basic earnings per share was EUR 0.09 (0.10).
- The share of revenue derived from AI-driven service solutions developed by Etteplan was 7 percent during the quarter.
- Etteplan issued a profit warning on September 16, 2026, and lowered its previous estimate of revenue and operating profit (EBIT) for 2026 due to slower-than-expected development of market demand and business operations. According to the new estimate, revenue is estimated to be EUR 355-365 million (2025: 361.4) and operating profit (EBIT) to be EUR 16.5-20 million (2025: 17.9).
Key points January-September 2026
- The Group's revenue decreased by 4 percent and was EUR 257.9 million (1-9/2025: EUR 268.5 million). At comparable exchange rates, revenue decreased by 4.4 percent.
- Operating profit (EBITA) decreased by 20.0 percent and was EUR 13.9 (17.4) million, or 5.4 (6.5) percent of revenue.
- Operating profit (EBIT) decreased by 21.5 percent and was EUR 9.9 (12.6) million, or 3.8 (4.7) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-September was EUR -1.5 (-2.5) million.
- Operating cash flow was EUR 7.4 (15.2) million.
- Basic earnings per share was EUR 0.23 (0.29).
- The share of revenue derived from AI-driven service solutions developed by Etteplan was 7 (5) percent during January-September.
Etteplan also monitors non-IFRS performance measures because they provide additional information on Etteplan's development. More information on performance measures is provided at the end of the release.
Key figures
| EUR 1,000 | 7-9/2026 | 7-9/2025 | 1-9/2026 | 1-9/2025 | 1-12/2025 |
| Revenue | 78,432 | 82,237 | 257,878 | 268,535 | 361,417 |
| Operating profit (EBITA) | 4,781 | 5,634 | 13,941 | 17,415 | 24,224 |
| EBITA, % | 6.1 | 6.9 | 5.4 | 6.5 | 6.7 |
| Operating profit (EBIT) | 3,526 | 4,052 | 9,888 | 12,595 | 17,866 |
| EBIT, % | 4.5 | 4.9 | 3.8 | 4.7 | 4.9 |
| Basic earnings per share, EUR | 0.09 | 0.10 | 0.23 | 0.29 | 0.42 |
| Equity ratio, % | 43.3 | 40.3 | 43.3 | 40.3 | 40.8 |
| Operating cash flow | -400 | 3,200 | 7,383 | 15,159 | 32,005 |
| ROCE, % | 7.0 | 7.4 | 6.5 | 7.9 | 8.3 |
| Personnel at end of the period | 3,626 | 3,830 | 3,626 | 3,830 | 3,777 |
President and CEO Juha Näkki:
Toward the end of the review period, the demand situation began to pick up, and production-related investments started to move forward for the first time in a long while. However, the third quarter as a whole was challenging. Demand showed signs of recovery in June, but the escalation of the crisis in the Middle East in July once again made our customers hold back on decisions, and the number of temporary layoffs in Finland, for example, started to increase. More vacation was also taken than in the comparison period. During the review period, our revenue and operating profit decreased, and we had to implement new efficiency improvement measures in our organization.
Among our customer industries, the defense industry and the energy industry continued to perform well, demand in the mining industry improved, and other industries also began to show slight signs of improvement toward the end of the review period. Demand in the automotive industry remained very weak, which affected us in Sweden and Germany. In China, the market situation remained better than in Europe.
During the review period, we continued to invest in the development of our service offering and the utilization of AI. The share of our revenue derived from AI-driven service solutions grew to seven percent, and we are engaged in numerous discussions with our customers concerning the use of our solutions to improve the efficiency of their business and develop it further. We expect the share of our revenue derived from AI-driven service solutions to continue increasing during the rest of the year.
As a result of the negative turn in the market situation during the review period, we had to lower our guidance. However, toward the end of the review period, signs of recovery in demand were visible on a wider scale than previously, and we expect the market situation to improve in the fourth quarter.
Market outlook 2026
The most important factor affecting Etteplan's business is the global development of the machinery and metal industry. Geopolitical tensions and prolonged conflicts are keeping market uncertainty still at a high level, which weakens consumer demand and significantly affects our customers' decision-making. However, discussions and tendering activity have increased, and there are signs of recovery in demand. Investment projects have also started to some extent for the first time in a while, but predicting the market situation remains difficult. The defense industry and the energy industry remain the segments in which demand is developing favorably, and demand in the mining industry improved.
Financial guidance 2026
Etteplan issued a profit warning on September 16, 2026, and lowered its previous estimate of revenue and operating profit (EBIT) for 2026 due to slower-than-expected development of market demand and business operations.
Current financial guidance for 2026:
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range.
Etteplan estimates that revenue in 2026 will be EUR 355-365 (2025: 361.4) million.
Etteplan estimates that operating profit (EBIT) in 2026 will be EUR 16.5-20 (2025: 17.9) million.
Previous financial guidance 2026 (August 5, 2026):
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range.
Etteplan specifies its financial guidance for revenue and operating profit (EBIT) within the previously communicated range.
Etteplan estimates that revenue in 2026 will be EUR 360-375 (2025: 361.4) million.
Etteplan estimates that operating profit (EBIT) in 2026 will be EUR 19-22 (2025: 17.9) million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's January-September 2026 Interim Report. The complete Interim Report is attached to this stock exchange release in pdf format and is also available on Etteplan's website at www.etteplan.com.
Conference call and live webcast today, October 29, 2026
Etteplan's President and CEO Juha Näkki will present the Company's results for January-September 2026 in a conference call and a live webcast, held in English language, on October 29, 2026 starting at 9.30 a.m. (EET).
Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q3-2026/dial-in to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q3-2026. The webcast starts at 9.30 a.m. (EET). A recording of the webcast will be available later at www.etteplan.com.
Espoo, October 29, 2026
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan in brief
Etteplan is a growing technology service company with the purpose of bringing people and technology together to change things for the better. Together with our customers, we are building a world where every system, process, and product can be made smarter, more efficient, and more sustainable. Our customers include the world's leading companies in the manufacturing industry. In 2025, we had a revenue of EUR 361.4 million and around 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
