Slide 1: Etteplan Q1 2025: Increased uncertainty affected demand
Etteplan Q1 2025: Increased uncertainty affected demand JUHA NÄKKI, PRESIDENT AND CEO MA Y 5, 2025 Espoo, Fi nl and
Slide 2: Contents
Contents ▪ Highlights and overview ▪ Financial development Q1 2025 ▪ Service areas Q1 2025 ▪ Etteplan’s targets and financial guidance 2025 ▪ Q&A ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLIC 2
Slide 3: Highlights Q1 2025
Highlights Q1 2025 + We saw slight signs of a recovery in Europe in orders received by our customers, which also led to new investments getting started to some extent. + Investments related to the defense industry continued to increase, and investments in the energy industry continued at a moderate
Slide 4: Operating environment in Q1 2025 and development in main markets
Operating environment Development in main in Q1 2025 markets • During the first quarter of the year, the market situation • The uncertainty caused by geopolitical tensions and the already showed slight signs of a recovery, until the global political situation has affected demand in all of developmen
Slide 5: Key figures Q1 2025
Key figures Q1 2025 EPS Revenue EBITA EBIT (Basic earnings 94.9 M€ 5.8 M€ 4.2 M€ per share) -2.3% -29.4% -37.9% 0.09€ ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLIC 5
Slide 6: Revenue and personnel Q1 2025
Revenue and personnel Q1 2025 Revenue by service area Revenue by area Personnel by area 94.9 M€ 94.9 M€ 3,918 Engineering Solutions 56% (54%) Finland 45% (48%) Finland 47% (49%) Software and Embedded Solutions 24% (27%) Scandinavia 27% (28%) Scandinavia 18% (19%) Technical Communication Solutions 20
Slide 7: Revenue by customer segment Q1 2025
Revenue by customer segment Q1 2025 0% 4% 8% 12% 16% 20% Energy 16% (16%) Automotive 15% (11%) Industrial Machinery 11% (12%) Metal and Mining 9% (10%) Forest Industry 9% (11%) Aerospace and Defence 7% (5%) ICT and Electronics 5% (5%) Building technology 5% (5%) Chemical 5% (5%) Marine and Transport
Slide 8: Financial development Q1 2025
Financial development Q1 2025 Placeholder for brand image
Slide 9: Key figures
Key figures M€ 1-3/2025 1-3/2024 Change % 1-12/2024 Revenue 94.9 97.1 -2.3 361.0 Revenue from outside Finland 51.7 50.9 1.8 190.4 Operating profit (EBITA) 5.8 8.2 -29.4 24.4 EBITA, % 6.1 8.4 6.8 Operating profit (EBIT) 4.2 6.7 -37.9 18.4 EBIT, % 4.4 6.9 5.1 Basic earnings per share, EUR 0.09 0.16 -4
Slide 10: Revenue – Market uncertainty is at an unprecedented level
Revenue – Market uncertainty is at an unprecedented level • The weak demand REVENUE situation continued in Q1 94.9 M€ January–March • Acquisitions increased revenue (97.1 M€) -2.3% • At comparable exchange rates -2.5% • Organic revenue -7.7% • Organic at comparable exchange rates -8.0% in Q1 • Reven
Slide 11: EBITA – Result negatively affected by weak market and non-recurring items
EBITA – Result was negatively affected by weak market situation and significant non-recurring items • Non-recurring items EBITA Q1 were -1.3 M€ (-0.2) • The non-recurring items 5.8 M€ consisted of expenses related to adaptation (8.2 M€) -29.4% measures, acquisitions, EBITA-% 6.1% (8.4%) and a signif
Slide 12: EBIT
EBIT • In Q1, amortizations related EBIT Q1 4.2 M€ to acquisitions were 1.6 M€ (1.5) (6.7 M€) -37.9% EBIT-% 4.4% (6.9%) • Non-recurring items -1.3 M€ (-0.2) M€ % ETTEPLAN Q1 2025 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 0.09 € (0.16 €) -43.8% ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLIC 13
Slide 14: Operating cash flow – Weakened in Q1
Operating cash flow – Weakened 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 5.0 M€ of the year due to periodic (8.1 M€) fluctuation in business ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLI
Slide 15: Personnel
Personnel • At the end of the period 3,918 (3,847) • Average 3,871 (3,858) • The number of personnel increased by 1.8% compared to the end of March 2024 • At the end of the review period, 2,060 (1,947) people were employed by the Group outside of Finland • In response to the market situation, we hav
Slide 16: Income statement
Income statement M€ 1-3/2025 1-3/2024 Change % 1-12/2024 Revenue 94.9 97.1 -2.3 361.0 Other operating income 0.2 0.1 0.7 Materials and services -11.6 -13.4 -50.6 Employee benefits expenses -64.8 -61.8 -233.1 Other operating expenses -9.7 -10.5 -41.3 Depreciation and amortization -4.7 -4.9 -18.4 Oper
Slide 17: Balance sheet
Balance sheet M€ Mar 31, 2025 Mar 31, 2024 Dec 31, 2024 Goodwill 127.7 113.9 117.4 Other non-current assets 71.6 63.9 63.4 Non-current assets, total 199.4 177.8 180.8 Inventory 0.6 0.7 0.7 Trade and other receivables 95.3 94.4 91.0 Cash and cash equivalents 27.0 28.1 25.2 Current assets, total 122.9
Slide 18: Service areas Q1 2025
Placeholder for brand image Service areas Q1 2025 18
Slide 19: Engineering Solutions
Engineering Solutions • As a result of the successful acquisition of Q1 2025 Novacon Powertrain in the beginning of the • Revenue 52.9 M€ (52.3) +1.1% year, the service area’s revenue increased • Revenue from Managed Services 64% (65%) slightly. • EBITA 3.5 M€, (4.7 M€) • In the uncertain market sit
Slide 20: Software and Embedded Solutions
Software and Embedded Solutions • The market situation in the service area Q1 2025 showed small signs of recovery product • Revenue 23.1 M€ (26.3) -11.9% development, especially in hardware, whereas • Revenue from Managed Services 51% (47%) in software and application engineering very few new projec
Slide 21: Technical Communication and Data Solutions
Technical Communication and Data Solutions • The service area has successfully increased its Q1 2025 market share during the past year, which • Revenue 18.9 M€ (18.5) +2.1% resulted in a slight increase in revenue. AI- • Revenue from Managed Services 87% (89%) driven solutions have had a significant
Slide 22: Etteplan's targets and financial guidance 2025
Etteplan’s targets and financial guidance 2025
Slide 23: Etteplan strategy 2025-2027: 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% > EUR 500 million >10% AI-driven solutions Managed Services Revenue Operating profit share of revenue share of revenue (EBITA) 1-3/2025: 2% 1-3/2025: 66% Rolling 12 months: 1-3/2025: 6.1% EUR 359 million ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLIC 24
Slide 25: Financial guidance 2025
Financial guidance 2025 Market outlook The most important factor affecting Etteplan’s business is the global development of the machinery and metal industry. Etteplan specifies its financial guidance for Uncertainty has again increased in the markets due to revenue and operating profit (EBIT) within
Slide 26: Questions?
Questions? — Gettepian a
Slide 27: Revenue and EBIT 2000-2024
Revenue and EBIT 2000-2024 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 ETTEPLAN Q1 2025 INVESTOR PRESENTATION PUBLIC 27
Slide 28: 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 2025 INVESTOR PRESENTATION PUBLIC 28
Slide 29: ETTEPLAN Q3 2024 INVESTOR PRESENTATION
ETTEPLAN Q3 2024 INVESTOR PRESENTATION 29