Slide 1: Etteplan 2025: Strong cash flow despite challenges
Etteplan 2025: Strong cash flow despite challenges JUHA NÄKKI, PRESIDENT AND CEO February 12, 2026 Espoo, Fi nl and
Slide 2: Contents
Contents • Highlights and overview 2025 • Financial development Q4 2025 • Service areas Q4 2025 • Etteplan’s strategy and financial guidance 2026 • Q&A ETTEPLAN Q4 2025 INVESTOR PRESENTATION 2
Slide 3: Highlights 2025
Highlights 2025 + New AI-driven strategy – New strategy launched in the beginning of 2025. Strategy implementation progressed according to the plan, and we managed to increase the AI -driven revenue to 5%. + TCDS development – Through new AI-driven offering, TCDS gained market share, managed to grow
Slide 4: Operating environment in 2025 / Development in the main markets
Operating environment Development in the in 2025 main markets • The year 2025 was a challenging period with regard to • In the uncertain market situation, our demand outlook the operating environment. Geopolitical and trade was weak in all of our operating countries in Europe. policy tensions were a
Slide 5: Key figures 2025
Key figures 2025 EPS Revenue EBITA EBIT (Basic earnings 361.4 M€ 24.2 M€ 17.9 M€ per share) +0.1% 6.7% 4.9% 0.42€ Board of Directors’ proposal for dividend 0.22 €/share ETTEPLAN Q4 2025 INVESTOR PRESENTATION PUBLIC 5
Slide 6: Revenue and personnel 2025
Revenue and personnel 2025 Revenue by Revenue by area Personnel by area service area 361.4 M€ 3,777 361.4 M€ Finland 45% (47%) Finland 47% (49%) Engineering Solutions 57% (53%) Scandinavia 26% (28%) Scandinavia 18% (19%) Software and Embedded Solutions 23% (27%) Central Europe 26% (22%) Central Euro
Slide 7: Revenue by customer segment 2025
Revenue by customer segment 2025 0% 4% 8% 12% 16% 20% Energy 16% (16%) Automotive 14% (12%) Industrial Machinery 10% (11%) Forest Industry 10% (10%) Metal and Mining 10% (10%) Aerospace and Defence 8% (6%) ICT and Electronics 5% (6%) Chemical 5% (5%) Building technology 4% (5%) Marine and Transporta
Slide 8: Financial development Q4 2025
Financial development Q4 2025 Placeholder for brand image
Slide 9: Key figures
Key figures M€ 10-12/2025 10-12/2024 Change % 1-12/2025 1-12/2024 Change % Revenue 92.9 91.3 1.7 361.4 361.0 0.1 Revenue from outside Finland 50.8 48.3 5.3 199.0 190.4 4.5 Operating profit (EBITA) 6.8 6.4 5.8 24.2 24.4 -0.6 EBITA, % 7.3 7.1 6.7 6.8 Operating profit (EBIT) 5.3 5.0 6.4 17.9 18.4 -3.0
Slide 10: Revenue – Market uncertainty continues
Revenue – Market uncertainty continues • The weak demand REVENUE REVENUE situation Q4 1-12 2025 continued throughout the year 92.9 M€ 361.4 M€ • Full-year revenue (91.3 M€) 1.7% (361.0 M€) 0.1% was at the • At comparable exchange rates 0.8% • At comparable exchange rates -0.5% • Organic -5.0% • Orga
Slide 11: EBITA – Modest profitability for the full year
EBITA – Modest profitability for the full year • In the challenging market EBITA EBITA situation, we implemented Q4 1-12 2025 various adaptation 6.8 M€ 24.2 M€ measures resulting significant non-recurring expenses, particularly in the first half of the year (6.4 M€) (24.4 M€) • During the year, our
Slide 12: EBIT
EBIT • For Q4, EBIT EBIT amortizations related to Q4 1-12 2025 acquisitions were -1.5 M€ (-1.5) 5.3 M€ 17.9 M€ • For Q1-Q4, (5.0 M€) (18.4 M€) amortizations EBIT-% 5.7% (5.4%) EBIT-% 4.9% (5.1%) related to • Non-recurring items -0.3 M€ (-0.9) • Non-recurring items -2.8 M€ (-3.0) acquisitions were -6
Slide 13: EPS – Increased due to lower non-operative items
EPS – Increased due to lower non-operative items • Basic earnings per EARNINGS PER SHARE EARNINGS PER SHARE share improved due to Q4 1-12 2025 lower financial items and taxes 0.13 € 0.42 € • The Board of Directors’ (0.12 €) 10.0% (0.41 €) 2.4% dividend proposal is EUR 0.22 (0.22) per € share 1.00 Ea
Slide 14: Operating cash flow – Strong throughout the year
Operating cash flow – Strong throughout the year • Due to efficiency OPERATING OPERATING improvement measures CASH FLOW CASH FLOW and the optimization of Q4 1-12 2025 working capital, cash flow was strong throughout the year 16.8 M€ 32.0 M€ • Operating cash flow (14.2 M€) (31.0 M€) accrues unevenly
Slide 15: Personnel
Personnel • At the end of the period 3,777 (3,803) 4,000 3,929 3,777 3,902 3,500 3,803 3,629 • Average 3,846 (3,859) 3,000 2,500 China • The number of personnel decreased by 2,000 Central Europe 0.7% compared to the end of December 1,500 Scandinavia 2024 Finland 1,000 • In the weak market situation,
Slide 16: Income statement
Income statement M€ 10-12/2025 10-12/2024 1-12/2025 1-12/2024 Change % Revenue 92.9 91.3 361.4 361.0 0.1 Other operating income 0.4 0.3 1.2 0.7 Materials and services -12.0 -13.1 -45.7 -50.6 Employee benefits expenses -61.7 -59.1 -242.5 -233.1 Other operating expenses -9.6 -10.0 -38.0 -41.3 Deprecia
Slide 17: Balance sheet
Balance sheet M€ M€ Dec 31, 2025 Dec 31, 2024 L Goodwill 126.7 117.4 iM Other non-current assets 62.3 63.4 u Non-current assets, total Pitkäaikaiset 189.0varat yhteensä180.8 V Inventory 0.6 0.7 a M Trade and other receivables 83.9 91.0 y R Cash and cash equivalents 30.4 25.2 a Current assets, total
Slide 18: Service areas Q4 2025
Placeholder for brand image Service areas Q4 2025 18
Slide 19: Engineering Solutions
Engineering Solutions Q4 2025 • Revenue 53.0 M€ (48.9) +8.3% • Revenue from Managed Services 65% (65%) • EBITA 3.8 M€, (3.6 M€) • Demand situation remained weak as customers • EBITA% 7.2% (7.3%) delayed investment decisions and started fewer 1-12 2025 new product development projects, requiring • Re
Slide 20: Software and Embedded Solutions
Software and Embedded Solutions Q4 2025 • Revenue 20.8 M€ (24.4) -14.9% • Revenue from Managed Services 53% (49%) • EBITA 1.4 M€, (2.1 M€) • EBITA% 7.0% (8.7%) • The market situation in the service area remained difficult, and that was reflected in the service area's 1-12 2025 result, which was mode
Slide 21: Technical Communication and Data Solutions
Technical Communication and Data Solutions Q4 2025 • Revenue 19.1 M€ (17.9) +6.9% • Revenue from Managed Services 85% (87%) • EBITA 1.7 M€ (1.1 M€) • EBITA% 9.0% (5.9%) • Through AI-driven service solutions, the service 1-12 2025 area gained market share and won several new • Revenue 73.4 M€ (70.5)
Slide 22: Etteplan's strategy and financial guidance 2026
Etteplan’s strategy and financial guidance 2026
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) 1-12/2025: 5% 1-12/2025: 67% Rolling 12 months: 1-12/2025: 6.7% EUR 361 million ETTEPLAN Q4 2025 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. Market uncertainty remains at a operating profit (EBIT) as a numerical range high level due to geopol
Slide 26: Questions?
Questions? — Gettepian a
Slide 27: Revenue and EBIT 2000-2025
Revenue and EBIT 2000-2025 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 Q4 2025 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 Q4 2025 INVESTOR PRESENTATION PUBLIC 28
Slide 29: For the better
For the better C a - etteplan _ ve a