Etteplan Oyj · OMXHEX:ETTE
Etteplan Oyj — Q1 2024 Earnings Presentation
26 slides from Etteplan Oyj's earnings presentation, May 8, 2024
Slide 1: Etteplan Q1 2024: The year started as expected
Etteplan Q1 2024: The year started as expected JUHA NÄKKI, PRESIDENT AND CEO May 8, 2024 Espoo, Fi nl and
Slide 2: Contents of the Q1 2024 presentation
Contents of the Q1 2024 presentation ▪ Highlights ▪ Operating environment ▪ Financial development ▪ Etteplan’s targets ▪ Financial guidance 2024 ▪ Q&A ETTEPLAN Q1 2024 INVESTOR PRESENTATION 2
Slide 3: Highlights Q1 2024
Highlights Q1 2024 + Despite the difficult operating environment revenue increased slightly, supported by acquisitions. + Operating profit improved slightly. + Operating cash flow improved and was at a good level. + We delivered first service solutions utilizing AI for our customers in Technical Com
Slide 4: Operating environment in Q1 2024
Operating environment Development in main in Q1 2024 markets • Increased geopolitical tensions are • Uncertainty, high interest rates, and our maintaining uncertainty globally. customers’ declining order books weakened • High interest rates and customers’ demand in Europe. declining orderbooks slowe
Slide 5: Revenue and operating profit (EBITA)
Revenue and operating profit (EBITA) 8.2 95.0 97.1 7.6 +2.3% +8.1% Engineering Solutions Software and Embedded Solutions Technical Communication Solutions Group ETTEPLAN Q1 2024 INVESTOR PRESENTATION 5
Slide 6: Revenue and personnel
Revenue and personnel ETTEPLAN Q1 2024 INVESTOR PRESENTATION 6
Slide 7: Revenue by customer segment 2024
Revenue by customer segment 2024 * Etteplan has made changes to its customer segmentation and grouping ETTEPLAN Q1 2024 INVESTOR PRESENTATION effective from the beginning of 2024. 7
Slide 8: Financial development Q1 2024
Financial development Q1 2024 PUBLIC 8
Slide 9: Key Figures
Key Figures ETTEPLAN Q1 2024 INVESTOR PRESENTATION 9
Slide 10: Revenue
Revenue Q1 2024 97.1 M€ (95,0) +2.3% At comparable exchange rates +2.3% Organic -3.8% At comparable exchange rates -3.7% Revenue from key accounts decreased by 7.6%. ▪ Customers’ decision-making in the prevailing market conditions was still slow and the demand situation was difficult. ▪ Outsourcing
Slide 11: EBITA
EBITA Q1 2024 8.2 M€, 8.4% (7.6 M€, 8.0%) +8.1% Non-recurring -0.2 M€ (-0.9) ▪ Operational efficiency was affected by difficult demand situation. ▪ We took adaptation measures to improve operational efficiency and profitability. ETTEPLAN Q1 2024 INVESTOR PRESENTATION 11
Slide 12: EBIT
EBIT Q1 2024 6.7 M€, 6.9% (6.3 M€, 6.6%) +7.0% Non-recurring -0.2 M€ (-0.9) Amortization related to acquisitions 1.5 M€ (1.3 ) ETTEPLAN Q1 2024 INVESTOR PRESENTATION 12
Slide 13: Earnings per share and dividend
Earnings per share and dividend Earnings per share Q1 2024: 0.16 € (0.17) -5.9% ▪ Earnings per share was impacted by higher financial expenses and higher tax rate for the quarter. ETTEPLAN Q1 2024 INVESTOR PRESENTATION 13
Slide 14: Cash flow
Cash flow Operating cash flow Q1 2024: 8.1 M€ (7.2) ▪ Operating cash flow improved and was at a good level. Cash flow accrues unevenly over the four quarters of the year due to periodic fluctuation in business. ETTEPLAN Q1 2024 INVESTOR PRESENTATION 14
Slide 15: Personnel
Personnel At the end of the period 3,847 (3,949) -2.6% Average 3,858 (3,937) Compared to the end of March 2023, the number of personnel decreased by 2.6%. At the end of the review period, 1,947 (March 31,2023: 1,966) people were employed by the Group outside of Finland. ▪ Recruitment has been slowed
Slide 16: Service areas Q1 2024
Service areas Q1 2024
Slide 17: Engineering Solutions
Engineering Solutions Q1 2024 Revenue 52.3 M€ (51.7) +1.1% Revenue from Managed Services 65% M€ % (64%) 60 12 52,3 M€ EBITA 4.7 M€, 9.0% (4.9 M€, 9.5%) 51,7 M€ 50 10 Personnel 2,145 (2,152) at the end of the 9,5% 9,0% period 40 8 30 6 • The demand for customers’ delivery related project engineering
Slide 18: Software and Embedded Solutions
Software and Embedded Solutions Q1 2024 Revenue 26.3 M€ (23.9) +10.1% Revenue from Managed Services 47% (53%) EBITA 2.4 M€, 9.1% (1.6 M€, 6.8%) Personnel 707 (761) at the end of the period • The demand situation in the service area remained weak, and we implemented adaptation measures to improve pro
Slide 19: Technical Communication Solutions
Technical Communication Solutions Q1 2024 Revenue 18.5 M€ (19.2) -3.7% M€ % Revenue from Managed Services 89% (89%) 25 10 EBITA 1.4 M€, 7.3% (1.2 M€, 6.1%) 9 Personnel 832 (875) at the end of the period 20 19,2 M€ 18,5 M€ 8 7,3% 7 15 6,1% 6 • Technical Communication Solutions service 5 area’s demand
Slide 20: Etteplan's targets and financial guidance for 2024
Etteplan’s targets and financial guidance for 2024 ETTEPLAN Q1 2024 INVESTOR PRESENTATION 20
Slide 21: Financial targets 2024
Financial targets 2024 Revenue 55% 75% >10% >EUR 500 Revenue Managed Operating million outside Services share profit Finland of Revenue (EBITA) Rolling 12 months: EUR 362 million 1-3/2024: 52% 1-3/2024: 65% 1-3/2024: 8.4% ETTEPLAN Q1 2024 INVESTOR PRESENTATION 21
Slide 22: Financial guidance
Financial guidance 2024 Market outlook The most important factor affecting Etteplan’s Etteplan keeps its guidance for business is the global development of the machinery revenue and operating profit (EBIT) and metal industry. The uncertainty caused by intact and issues the following geopolitical ten
Slide 23: Questions?
Questions? © etteplan a
Slide 24: Revenue and EBIT 2000-2024
Revenue and EBIT 2000-2024 *Includes continued and discontinued operations ETTEPLAN Q1 2024 INVESTOR PRESENTATION
Slide 25: Investor Relations contacts
Investor Relations contacts OU TI TOR N I AINE N H E L E NA K U K KONE N J U H A N Ä KKI SV P , MA R K ETING A N D C FO P R E SIDENT A N D C E O C OMMU N ICATIONS +358 10 307 2003 +358 10 307 2077 +358 10 307 3302 ETTEPLAN Q1 2024 INVESTOR PRESENTATION 25
Slide 26: ETTEPLAN Q1 2024 INVESTOR PRESENTATION
ETTEPLAN Q1 2024 INVESTOR PRESENTATION 26