Slide 1: Etteplan Q1 2026: We continued investing in AI solutions despite the difficult market
Etteplan Q1 2026: We continued investing in AI solutions despite the difficult market JUHA NÄKKI, PRESIDENT AND CEO May 7, 2026 Espoo, Fi nl and
Slide 2: Contents
Contents • Highlights and overview Q1 2026 • Financial development Q1 2026 • Service areas Q1 2026 • Etteplan’s strategy and financial guidance 2026 • Q&A ETTEPLAN Q1 2026 INVESTOR PRESENTATION 2
Slide 3: Highlights Q1 2026
Highlights Q1 2026 + Strategy execution – Investments in strategy execution and development of service offering progressed despite the difficult market situation. + AI-driven revenue – The share of revenue from AI-driven service solutions increased to 6%; new and updated service solutions were launc
Slide 4: Operating environment in Q1 2026
Operating environment Development in the main in Q1 2026 markets • The operating environment remained difficult in the first • In an uncertain market, our demand outlook remained quarter. The discussions regarding Greenland in weak in all of our operating countries in Europe. January and the war in
Slide 5: Key figures Q1 2026
Key figures Q1 2026 EPS Revenue EBITA EBIT (Basic earnings 90.5 M€ 3.7 M€ 2.2 M€ per share) -4.6% 4.1% 2.4% 0.04€ ETTEPLAN Q1 2026 INVESTOR PRESENTATION PUBLIC 5
Slide 6: Revenue and personnel Q1 2026
Revenue and personnel Q1 2026 Revenue by service Revenue by area Personnel by area area 90.5 M€ 3,748 90.5 M€ Engineering solutions 57% (56%) Finland 45% (45%) Finland 47% (47%) Software and Embedded Solutions 22% (24%) Scandinavia 27% (27%) Scandinavia 19% (18%) Technical Communication and Data Sol
Slide 7: Revenue by customer segment Q1 2026
Revenue by customer segment Q1 2026 0% 4% 8% 12% 16% 20% Energy 17% (16%) Automotive 13% (15%) Metal and Mining 10% (10%) Industrial Machinery 10% (10%) Aerospace and Defence 9% (7%) Forest Industry 9% (9%) Chemical 5% (5%) ICT and Electronics 5% (5%) Marine and Transportation 4% (4%) Building techn
Slide 8: Financial development Q1 2026
Financial development Q1 2026
Slide 9: Key figures
Key figures M€ 1-3/2026 1-3/2025 Change % 1-12/2025 Revenue 90.5 94.9 -4.6 361.4 Revenue from outside Finland 49.7 51.7 -3.9 199.0 Operating profit (EBITA) 3.7 5.8 -36.1 24.2 EBITA, % 4.1 6.1 6.7 Operating profit (EBIT) 2.2 4.2 -47.8 17.9 EBIT, % 2.4 4.4 4.9 Basic earnings per share, EUR 0.04 0.09 -
Slide 10: Revenue – Market uncertainty continues
Revenue – Market uncertainty continues • The weak demand REVENUE situation continued in Q1 90.5 M€ January-March • Organic revenue -5.2% in Q1 (94.9 M€) -4.6% • At comparable exchange rates -5.4% • Revenue from key • Organic at comparable exchange rates -6.1% accounts -0.3% in Q1 M€ 100 80 60 40 20
Slide 11: EBITA – Result impacted by weak demand, slow customer decision-making and non-recurring items
EBITA – Result impacted by weak demand, slow customer decision-making and non-recurring items • Non-recurring items EBITA Q1 were -0.7 M€ (-1.3) • The non-recurring items 3.7 M€ consisted of expenses (5.8 M€) -36.1% related to adaptation measures as well as a EBITA-% 4.1% (6.1%) change in the valuat
Slide 12: EBIT
EBIT • In Q1, amortizations related EBIT Q1 2.2 M€ to acquisitions were 1.5 M€ (1.6) (4.2 M€) -47.8% EBIT-% 2.4% (4.4%) • Non-recurring items -0.7 M€ (-1.3) M€ % EBIT, % 6 6 4.4 % 4 4 2.4 % 2 2 4.2 2.2 0 0 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 ETTEPLAN Q1 2026 INVESTOR PRESENTATION PUBLIC 12
Slide 13: EPS – Lower profitability impacted EPS
EPS – Lower profitability impacted EPS • Basic earnings per share EARNINGS PER SHARE was impacted by lower Q1 profitability 0.04 € (0.09 €) -55.6% € Earnings per share € Dividend € 1,00 0,80 0,60 0,40 0.36 0.30 0,20 0.22 0.22 0.73 0.66 0.44 0.42 Q1 0.09 0,00 Q1 0.04 2022 2023 2024 2025 2025 2026 ETT
Slide 14: Operating cash flow – Declined in Q1
Operating cash flow – Declined in Q1 • The accrual of cash flow was OPERATING affected by non-recurring CASH FLOW expenses Q1 • Operating cash flow accrues unevenly over the four quarters 4.1 M€ of the year due to periodic (5 M€) fluctuation in business M€ Operating cash flow Cash flow after investm
Slide 15: Personnel
Personnel • At the end of the period 3,748 (3,918) 4 000 3,929 3,902 3,748 3 500 3,803 3,777 • Average 3,749 (3,871) 3 000 2 500 China • The number of personnel decreased Central Europe by 4.3% compared to the end of 2 000 Scandinavia March 2025 1 500 Finland 1 000 • In the weak market situation, we
Slide 16: Income statement
Income statement M€ 1-3/2026 1-3/2025 Change % 1-12/2025 Revenue 90.5 94.9 -4.6 361.4 Other operating income 0.9 0.2 1.2 Materials and services -11.1 -11.6 -45.7 Employee benefits expenses -63.8 -64.8 -242.5 Other operating expenses -9.7 -9.7 -38.0 Depreciation and amortization -4.6 -4.7 -18.6 Opera
Slide 17: Balance sheet
Balance sheet M€ Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Goodwill 126.3 127.7 126.7 Other non-current assets 59.8 71.6 62.3 Non-current assets, total 186.1 199.4 189.0 Inventory 0.6 0.6 0.6 Trade and other receivables 85.3 95.3 83.9 Cash and cash equivalents 31.5 27.0 30.4 Current assets, total 117.5
Slide 18: Service areas Q1 2026
OLD Financial development Service areas Q4 2025 Q1 2026 Placeholder for brand image
Slide 19: Engineering Solutions
Engineering Solutions Q1 2026 • The demand situation was difficult due to • Revenue 51.5 M€ (52.9) -2.6% customers’ slow investment decisions in the • Revenue from Managed Services 63% (64%) uncertain market environment. This resulted in low • EBITA 2.4 M€, (3.5 M€) utilization rates, which had a ne
Slide 20: Software and Embedded Solutions
Software and Embedded Solutions Q1 2026 • The difficult market situation was reflected in the • Revenue 20.2 M€ (23.1) -12.9% service area's result, and the service area's • Revenue from Managed Services 53% (51%) profitability was at a low level. • EBITA 0.1 M€, (1.9 M€) • Significant organizationa
Slide 21: Technical Communication and Data Solutions
Technical Communication and Data Solutions Q1 2026 • Investments in AI-driven service solutions • Revenue 18.9 M€ (18.9) +0.1% continued, supporting the service area’s long-term • Revenue from Managed Services 84% (87%) development and transformation. The new AI-driven offering enabled new customer
Slide 22: Etteplan's strategy and financial guidance 2026
Etteplan’s strategy and financial guidance 2026 Placeholder for brand image
Slide 23: Transformation with AI
Etteplan strategy 2025-2027 Vision Transformation The best service solutions to boost customers’ sustainability, productivity and digital business with AI Business Focus Widening solution portfolio to boost customers’ sustainable growth and improve efficiency Trusted partner Targeting a leading posi
Slide 24: Financial and strategic targets 2027
Financial and strategic targets 2027 35% 75% >500 >10% AI-driven solutions Managed Services Revenue Operating profit share of revenue share of revenue (MEUR) (EBITA) 1-3/2026: 6% 1-3/2026: 65% Rolling 12 months: 1-3/2026: 4.1% EUR 357 million ETTEPLAN Q1 2026 INVESTOR PRESENTATION PUBLIC 24
Slide 25: Financial guidance
Financial guidance 2026 Market outlook The most important factor affecting Etteplan’s business is the global development of the machinery Etteplan issues guidance for revenue and and metal industry. Geopolitical tensions and the operating profit (EBIT) as a numerical range. spillover effects of arme
Slide 26: Questions?
Questions? ETTEPLAN Q1 2026 INVESTOR PRESENTATION 26
Slide 27: Revenue and EBIT 2000-2026
Revenue and EBIT 2000-2026 M€ Revenue Operating profit (EBIT) M€ 400 35 350 30 300 25 250 20 200 15 150 10 100 5 50 0 0 -5 *Includes continued and discontinued operations **Rolling 12 months ETTEPLAN Q1 2026 INVESTOR PRESENTATION PUBLIC 27
Slide 28: Investor Relations contacts
Investor Relations contacts OU TI TOR N I AINE N SV P , MA R K ETING A N D C OMMU N ICATIONS +358 10 307 3302 H E L E NA K U K KONE N C FO +358 10 307 2003 J U H A N Ä KKI CEO +358 10 307 2077 ETTEPLAN Q1 2026 INVESTOR PRESENTATION PUBLIC 28
Slide 29: For the better
For the better © etteplan