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ETTEPLAN OYJ INTERIM REPORT Q1: DEMAND RECOVERED SLOWLY

Stock exchange release – Published: 06.05.2010 9:30:00

ETTEPLAN Q1: DEMAND RECOVERED SLOWLY                                            


Review period January-March 2010                                                

- The Group's revenue for continuing operations was EUR 24.9 million (1-3/2009: 
  EUR 29.5 million).                                                            
- Operating profit for continuing operations was EUR 1.1 million (EUR 1.2       
  million).                                                                     
- Profit for the period for continuing operations was EUR 0.7 million           
  (EUR 0.8 million).                                                            
- Profit for the period for discontinuing operations was EUR 0.0 million (EUR - 
  0.7 million).                                                                 
- Operating cash flow was EUR -2.7 million (EUR -6.6 million).                  
- Earnings per share for continuing operations were EUR 0.03 (EUR 0.04).        
- Company's outlook for year 2010 remains unchanged.                            

Key figures* (EUR 1 000)                                                        

                            1-3/2010    1-3/2009    1-12/2009                   

Revenue                       24,853      29,510       98,700                   
Operating profit               1,125       1,183       -3,587                   
Operating profit, %              4.5         4.0         -3.6                   
Profit for the period            692         766       -3,287                   
Profit for the period, %         2.8         2.6         -3.3                   
Equity ratio, %                 39.8        32.1         38.5                   
Net gearing, %                  31.3        84.1         20.8                   
Total assets                  61,492      79,588       61,704                   
*) continuing operations                                                        

Matti Hyytiäinen, President and CEO of Etteplan Oyj, comments on the interim    
report:                                                                         

“Etteplan commenced year 2010 with a new organisation structure according to    
which operations have been organised to three business areas: Expertise         
services, Operational services and Enterprise solutions that concentrates to    
chosen key customers. In the new organisation the emphasis is on effective      
organizing of sales and at the same time the sales organisation was             
strengthened.                                                                   

A slight recovery was visible in the demand for Etteplan's services although    
orders received from our key customers developed unevenly. Improvement of       
productivity is increasingly important to our customers and, for this reason the
reception of our new service solutions has been positive in the market. Due to  
our new sales organisation and new service solutions the amount of outstanding  
quotations increased.                                                           

Operation adjustments done in year 2009 affected positively our result for the  
first quarter. Operating profit for the review period was satisfactory when     
taking into consideration the low amount of demanding product development       
projects especially among aerospace and defence equipment clientele.”           

Accounting principles                                                           

The interim report has been prepared in accordance with IAS 34 (Interim         
Financial Reporting) and the preparation and accounting policies presented in   
the 2009 annual financial statements, but not all requirements of the IAS 34    
standard for interim financial reporting have been followed in the accounting.  

Business review for January-March 2010                                          

Demand for design services developed unevenly between different countries and   
customers industries during the first quarter of the year. In Sweden, demand for
design services increased during the first quarter of the year. In Finland, the 
recovery of demand was slow as the commencement of planned projects was further 
shifted in the period under review. Compared to the last quarter of year 2009,  
tender activity has picked up also in Finland.                                  

In energy and power transmission industry and among medical technology equipment
manufacturers demand remained on a good level in the review period. Demand      
developed favourably in special competence requiring testing and analysis       
services for car industry customers'. Demand for design services among mining   
industry equipment manufacturers improved considerably in the review period.    

Forest industry equipment manufacturers' demand for design services continued to
be on last year's low level. In aerospace and defence equipment industry, there 
was significant fluctuation in the demand for design services. On average,      
demand for design services remained on low level.                               

Etteplan's customers have continued their investments to transfer business and  
production to China. During the review period, this was visible among others as 
an increase in commencement of localization and technology transfer projects in 
company's units in China.                                                       

Etteplan signed new framework agreements with medical technology equipment      
manufacturers and Sweden's Defence Materiel Administration (FMV) in the review  
period.                                                                         

Number of temporary laid off employees was on the same level as in the last     
quarter of year 2009 which was approximately 200 employees in Finland. No new   
personnel reductions were implemented in Finland and Sweden during the review   
period.                                                                         

Revenue                                                                         

Etteplan's revenue for continuing operations in the first quarter of the year   
decreased and amounted to EUR 24.9 million (1-3/2009: EUR 29.5 million).        

Result                                                                          

The operating profit for continuing operations remained on same level with the  
comparison period and was EUR 1.1 million (1-3/2009: EUR 1.2 million).          

Profit for the period for continuing operations before taxes was EUR 1.0 million
(1-3/2009: EUR 1.0 million). Taxes amounted to EUR 0.3 million (EUR 0.2         
million). The income tax calculated on profit before taxes in the consolidated  
income statement was 29.7% (21.8%).                                             

Profit for the period for continuing operations remained on the same level with 
comparison period and was EUR 0.7 million (1-3/2009: EUR 0.8 million). Earnings 
per share for continuing operations were EUR 0.03 (EUR 0.04). Equity per share  
was EUR 1.23 (EUR 1.29). The return on investment improved and was 13.3%        
(10.7%).                                                                        

Profit for the period for discontinuing operations was EUR 0.0 million          
(1-3/2009: EUR -0.7 million).                                                   

Result for the review period was EUR 0.7 million (1-3/2009: EUR 0.1 million).   

Financial position and cash flow                                                

Total assets on March 31, 2010, were EUR 61.5 million (December 31, 2009: EUR   
61.7 million). Goodwill on the balance sheet was EUR 32.3 million (December 31, 
2009: EUR 31.2 million). The increase in goodwill was due to changes in currency
rates. The Group's cash and cash equivalents stood at EUR 3.8 million (December 
31, 2009: EUR 6.7 million). The Group's financial liabilities amounted to EUR   
11.5 million (December 31, 2009: EUR 11.6 million) at period end. The equity    
ratio was 39.8% (December 31, 2009: 38.5%). The cash flow after investments     
improved and was EUR -2.8 million (1-3/2009: EUR -6.6 million). Cash flow       
improved, but is still negative due to seasonality in business and tax payments 
in the review period.                                                           

Capital expenditures                                                            

The Group's gross investments came to EUR 0.4 million (1-3/2009: EUR 0.2        
million).                                                                       

Personnel                                                                       

The number of the Group's personnel averaged 1,509 (1-3/2009: 1,788) during the 
review period and was 1,500 (March 31, 2009: 1,760) at period end. Outside      
Finland, the Group employed 541 people (March 31, 2009: 704) at the end of the  
period.                                                                         

Incentive plan for key personnel                                                

The Etteplan Oyj Board of Directors decided on a share-based incentive plan for 
key personnel in March 2008. The plan includes three earnings periods: calendar 
years 2008, 2009 and 2010. The plan had a target group of 37 people in 2008, 39 
people in 2009 and 33 people in 2010. The remuneration paid from the plan       
corresponds to the value of about 720,000 Etteplan Oyj shares at maximum.       

Pursuant to the authorization granted to it by the Annual General Meeting of    
Shareholders', held on March 26, 2009, the Board of Directors of Etteplan Oyj   
has in its meeting, on February 10, 2010, made a resolution that there will be  
no disposal of company-held shares for the 2009 earnings period.                

Estimate of operating risks and uncertainty factors                             

Etteplan's financial results are exposed to number of strategic, operational and
financial risks. A detailed risk analysis can be found in Etteplan's annual     
report 2009.                                                                    

External risks                                                                  

During the period under review, economic development on the whole and           
unpredictable changes in customers' business operations continued to be a       
significant risk.                                                               

Internal risks                                                                  

Internally Etteplan does not foresee changes in its risk position compared to   
previously stated.                                                              

Annual General Meeting                                                          

The Annual General Meeting of Shareholders of Etteplan Oyj was held on March 24,
2010 at premises of the Company in Vantaa. In accordance with the proposal of   
the Board of Directors´ Nomination and Compensation Committee Tapio Hakakari,   
Heikki Hornborg, Robert Ingman and Pertti Nupponen were re-elected as members of
the Board of Directors as well as Satu Rautavalta and Teuvo Rintamäki were      
elected as new members of the Board of Directors.                               

The Annual General Meeting approved the Financial Statements for financial year 
2009 and discharged members of the Board of Directors and the CEO from          
liability.                                                                      

The auditor elected was PricewaterhouseCoopers Oy, Authorized Public Accounting 
Firm with Authorized Public Accountant Mr Mika Kaarisalo as the main responsible
auditor. The fees for the auditor are paid according to invoice by the          
principles approved by the Board of Directors.                                  

The Annual General Meeting authorized the Board of Directors to decide to issue 
maximum of 4,000,000 shares through issuance of shares, option rights or other  
special rights entitling to shares under Chapter 10, Section 1 of the Companies 
Act in one or more issues. The authorization includes a right to issue new      
shares or assign company's own shares held by the company.                      

The authorization is effective for a period of five (5) years from the          
resolution of the Annual General Meeting, i.e. from March 24, 2010 to March 24, 
2015. The authorisation shall replace the previous authorization.               

The Annual General Meeting resolved, in accordance with proposal of the Board of
Directors, to grant the Board the authority to acquire the company's own shares 
in one or more lots using the company's unrestricted equity. A maximum of       
2,000,000 of the company's own shares can be acquired. The Board of Directors   
shall have the right to decide who the shares are acquired from or, the Board of
Directors has the right to decide on a directed acquisition of own shares.      

The authorization is valid for 18 months from the date of the decision of the   
Annual General Meeting starting on March 24, 2010 and ending on September 24,   
2011. The authorization shall replace the previous authorization.               

The Annual General Meeting adopted a resolution to amend the articles of        
association's paragraph 9 as follows:                                           

"9 § Invitation to the General Meeting of Shareholders                          

Invitation to the General Meeting of Shareholders shall be published in the     
company's website no earlier than two (2) calendar months and no later than     
three (3) weeks prior to the meeting, but no later than nine (9) days before the
record date of the General Meeting. The Board of Directors may also decide to   
publish the invitation to the General Meeting of Shareholders in a one Finnish  
national newspaper determined by the Board of Directors."                       

Dividend                                                                        

The Annual General Meeting passed a resolution, in accordance with the proposal 
of the Board of Directors, that a dividend of EUR 0.04 per share be paid from   
the financial year 2009. The remaining funds shall be left to the unrestricted  
equity. The dividend will be paid to the shareholders registered in the         
shareholders' register maintained by Euroclear Finland Ltd (formerly Finnish    
Central Securities Depository Ltd) as the record date. The record date of the   
payment of dividend was March 29, 2010. The dividend was paid on April 7, 2010. 

Shares                                                                          

The Etteplan Oyj share (ETT1V) is quoted in the Nordic NASDAQ OMX's Small Cap   
market capitalization group in the Industrials sector.                          

The company's share capital on March 31, 2010, was EUR 5,000,000.00, and the    
number of shares outstanding was 20,179,414. The company has one series of      
shares. All shares confer an equal right to a dividend and the company's funds. 

The company held 470,634 of its own shares on March 31, 2010. During the period 
under review, the company did not acquire nor dispose any company-held shares.  

Major events after the review period                                            

Company is renewing its legal structure in Finland and Sweden as of April 1,    
2010. In Finland, business operations will be concentrated to Etteplan Design   
Center Oy. In Sweden, business operations will be concentrated to four legal    
companies. Group administration units continue their operations in the parent   
company Etteplan Oyj. The legal structure change will be implemented in phases  
during year 2010. In Finland, company's business operations will be organised   
according to the new legal structure by July 1, 2010 and in Sweden by the end of
the year 2010. Change in legal structure does not impact the content of         
financial reporting in 2010. Legal structure change will have an impact on      
parent company's balance sheet. Parent company's balance sheet will be presented
in company's annual report 2010.                                                

In April, Etteplan signed an extensive cooperation contract with Plumettaz S.A. 
that makes Etteplan a primary global supplier of engineering services in product
development projects and delivery projects for Plumettaz. In addition, the      
contract covers development of Plumettaz's engineering operations and
engineering process management. The first assignments related to cooperation
contract were completed in record time. The first localization project has
already been done in China. Cooperation with Etteplan in delivery projects and
operation development has also commenced in Europe. Etteplan supplies Plumettaz
engineering services to Switzerland and China from Etteplan's units in Finland
and China. 

Outlook                                                                         

The commencement of Etteplan's customers' investment and product development    
projects as well as changes in order books reflect quickly to the demand for    
technical design and product information services and the development of        
Etteplan's revenue.                                                             

The revenue in 2010 is estimated to be approximately on the same level as in    
year 2009. Adjustments done in year 2009 improve company's profitability and    
operating profit is estimated to be positive. The revenue and operating profit  
estimates are based on Etteplan's current market outlook. Potential acquisitions
in year 2010 are not included in the estimate.                                  

Financial information in 2010                                                   

Etteplan Oyj's interim reports will be published as follows:                    

Second quarter results, 6 months            Thursday August 12, 2010            
Third quarter results, 9 months             Wednesday November 10, 2010         


Hollola, May 6, 2010                                                            

Etteplan Oyj                                                                    

Board of Directors                                                              


Additional information:                                                         
Matti Hyytiäinen, President and CEO, tel. +358 400 710 968                      


The information presented herein has not been audited.                          


APPENDIX:                                                                       
Financial Statement Summary and Notes                                           
  Consolidated Statement of Comprehensive Income                                
  Consolidated Statement of Financial Position                                  
  Consolidated Statement of Cash Flows                                          
  Consolidated Statement of Changes in Equity                                   
  Key Figures                                                                   
  Notes to the Financial Statement Summary                                      


Releases and other corporate information are available on Etteplan's Web site at
www.etteplan.com.                                                               


DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki                                                             
Major media                                                                     
www.etteplan.com                                                                


This interim report includes forward-looking estimates and assumptions.         
Accordingly, outcomes may deviate from these estimates, which are based on the  
management's current best knowledge.                                            


Etteplan is a specialist in industrial equipment engineering and technical      
product information solutions and services. Our customers are global leaders in 
their fields and operate in areas like the automotive, aerospace and defence    
industries as well as the electricity generation and power transmission sectors,
and material flow management.                                                   

Etteplan has comprehensive competence in electronics and embedded systems       
development, automation and electrical design, mechanical design and technical  
product information solutions and services.                                     

Etteplan's strength lies in its highly skilled employees who, being located near
to the customers, are able to develop close, long term business relationships.  
We implement solutions globally according to customer needs.                    

In 2009, Etteplan had turnover of EUR 98.7 million. Etteplan's shares are listed
on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.                              




--------------------------------------------------------------------------------
| CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME                               |
--------------------------------------------------------------------------------
| (EUR 1 000)                      |        1-3/ |         1-3/ |        1-12/ |
--------------------------------------------------------------------------------
|                                  |        2010 |         2009 |         2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Continuing operations                                                        |
--------------------------------------------------------------------------------
| Revenue                          |      24 853 |       29 510 |       98 700 |
--------------------------------------------------------------------------------
| Other operating income           |          77 |          166 |          392 |
--------------------------------------------------------------------------------
| Materials and services           |      -1 879 |       -2 633 |       -8 077 |
--------------------------------------------------------------------------------
| Staff costs                      |     -18 229 |      -21 063 |      -75 851 |
--------------------------------------------------------------------------------
| Other operating expenses         |      -3 336 |       -4 385 |      -17 155 |
--------------------------------------------------------------------------------
| Depreciation and amortisation    |        -361 |         -413 |       -1 596 |
--------------------------------------------------------------------------------
| Operating profit                 |       1 125 |        1 183 |       -3 587 |
--------------------------------------------------------------------------------
| Financial income                 |         212 |          201 |          341 |
--------------------------------------------------------------------------------
| Financial expenses               |        -201 |         -255 |         -925 |
--------------------------------------------------------------------------------
| Share of the result of           |        -150 |         -149 |         -134 |
| associates                       |             |              |              |
--------------------------------------------------------------------------------
| Profit before taxes              |         986 |          980 |       -4 304 |
--------------------------------------------------------------------------------
| Income taxes                     |        -293 |         -215 |        1 017 |
--------------------------------------------------------------------------------
| Profit for the financial year    |         692 |          766 |       -3 287 |
| continuing operations            |             |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Discontinuing operations                                                     |
--------------------------------------------------------------------------------
| Profit/loss for the financial    |         -36 |         -679 |      -11 067 |
| year, discontinuing operations   |             |              |              |
--------------------------------------------------------------------------------
| Result for the financial year    |         656 |           87 |      -14 354 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive income                                                   |
--------------------------------------------------------------------------------
| Currency translation differences |       1 077 |          -55 |        1 245 |
--------------------------------------------------------------------------------
| Other comprehensive income for   |       1 077 |          -55 |        1 245 |
| the year, net of tax             |             |              |              |
--------------------------------------------------------------------------------
| Total comprehensive income for   |       1 734 |           31 |      -13 109 |
| the year                         |             |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit attributable to                                                       |
--------------------------------------------------------------------------------
| Equity holders of the company    |         647 |           81 |      -14 403 |
--------------------------------------------------------------------------------
| Minority interest                |           9 |            6 |           49 |
--------------------------------------------------------------------------------
|                                  |         656 |           87 |      -14 354 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive income       |                                           |
| attributable to                  |                                           |
--------------------------------------------------------------------------------
| Equity holders of the company    |       1 717 |           25 |      -13 164 |
--------------------------------------------------------------------------------
| Minority interest                |          17 |            6 |           55 |
--------------------------------------------------------------------------------
|                                  |       1 734 |           31 |      -13 109 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share calculated    |                                           |
| from the result of parent        |                                           |
| company shareholders             |                                           |
--------------------------------------------------------------------------------
| Continuing operations                                                        |
--------------------------------------------------------------------------------
| Basic earnings per share, EUR    |        0,03 |         0,04 |        -0,17 |
--------------------------------------------------------------------------------
| Diluted earnings per share, EUR  |        0,03 |         0,04 |        -0,17 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Discontinuing operations                                                     |
--------------------------------------------------------------------------------
| Basic earnings per share, EUR    |        0,00 |        -0,03 |        -0,56 |
--------------------------------------------------------------------------------
| Diluted earnings per share, EUR  |        0,00 |        -0,03 |        -0,56 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONSOLIDATED STATEMENT OF FINANCIAL POSITION                                 |
--------------------------------------------------------------------------------
| (EUR 1 000)                         |  31.3.2010 |  31.3.2009 |   31.12.2009 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ASSETS                                                                       |
--------------------------------------------------------------------------------
| Non-current assets                                                           |
--------------------------------------------------------------------------------
| Tangible assets                     |      1 476 |      2 311 |        1 458 |
--------------------------------------------------------------------------------
| Goodwill                            |     32 315 |     33 055 |       31 184 |
--------------------------------------------------------------------------------
| Other intangible assets             |        968 |      1 425 |        1 042 |
--------------------------------------------------------------------------------
| Shares in associated companies      |          0 |        286 |            0 |
--------------------------------------------------------------------------------
| Investments available for sales     |        690 |        411 |          691 |
--------------------------------------------------------------------------------
| Other long-term receivables         |          3 |        548 |            3 |
--------------------------------------------------------------------------------
| Deferred tax assets                 |        820 |        460 |          950 |
--------------------------------------------------------------------------------
| Non-current assets, total           |     36 271 |     38 497 |       35 329 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets                                                               |
--------------------------------------------------------------------------------
| Trade and other receivables         |     20 676 |     36 752 |       18 645 |
--------------------------------------------------------------------------------
| Current tax assets                  |        702 |      2 088 |        1 079 |
--------------------------------------------------------------------------------
| Cash and cash equivalents           |      3 843 |      2 251 |        6 650 |
--------------------------------------------------------------------------------
| Current assets, total               |     25 221 |     41 091 |       26 375 |
--------------------------------------------------------------------------------
| TOTAL ASSETS                        |     61 492 |     79 588 |       61 704 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES                                                       |
--------------------------------------------------------------------------------
| Capital attributable to equity holders                                       |
--------------------------------------------------------------------------------
| Share capital                       |      5 000 |      5 000 |        5 000 |
--------------------------------------------------------------------------------
| Share premium account               |      6 701 |      6 701 |        6 701 |
--------------------------------------------------------------------------------
| Unrestricted equity fund            |      2 586 |      2 474 |        2 590 |
--------------------------------------------------------------------------------
| Own shares                          |     -1 955 |     -2 019 |       -1 949 |
--------------------------------------------------------------------------------
| Cumulative translation adjustment   |     -1 464 |     -5 243 |       -2 534 |
--------------------------------------------------------------------------------
| Other reserves                      |     10 000 |          0 |       10 000 |
--------------------------------------------------------------------------------
| Retained earnings                   |      2 788 |     18 385 |       18 148 |
--------------------------------------------------------------------------------
| Profit for the financial year       |        647 |         81 |      -14 403 |
--------------------------------------------------------------------------------
| Capital attributable to equity      |     24 304 |     25 379 |       23 554 |
| holders, total                      |            |            |              |
--------------------------------------------------------------------------------
| Minority interest                   |        152 |         85 |          135 |
--------------------------------------------------------------------------------
| Equity, total                       |     24 456 |     25 464 |       23 689 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities                                                      |
--------------------------------------------------------------------------------
| Deferred tax liability              |        156 |      1 440 |          150 |
--------------------------------------------------------------------------------
| Financial liabilities               |      6 864 |     11 869 |        7 626 |
--------------------------------------------------------------------------------
| Non-current liabilities, total      |      7 020 |     13 309 |        7 776 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities                                                          |
--------------------------------------------------------------------------------
| Financial liabilities               |      4 634 |     11 801 |        3 959 |
--------------------------------------------------------------------------------
| Trade and other payables            |     24 557 |     28 103 |       24 401 |
--------------------------------------------------------------------------------
| Reserves                            |        810 |          0 |        1 435 |
--------------------------------------------------------------------------------
| Current income tax liabilities      |         15 |        910 |          445 |
--------------------------------------------------------------------------------
| Current liabilities, total          |     30 016 |     40 815 |       30 239 |
--------------------------------------------------------------------------------
| Liabilities, total                  |     37 036 |     54 123 |       38 016 |
--------------------------------------------------------------------------------
| TOTAL EQUITY AND LIABILITIES        |     61 492 |     79 588 |       61 704 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONSOLIDATED STATEMENT OF CASH FLOWS                                         |
--------------------------------------------------------------------------------
| (EUR 1 000)                             |      1-3/ |      1-3/ |      1-12/ |
--------------------------------------------------------------------------------
|                                         |      2010 |      2009 |       2009 |
--------------------------------------------------------------------------------
| Operating cash flow                                                          |
--------------------------------------------------------------------------------
| Cash receipts from customers            |    23 600 |    34 667 |    129 302 |
--------------------------------------------------------------------------------
| Operating expenses paid                 |   -26 151 |   -40 899 |   -126 232 |
--------------------------------------------------------------------------------
| Operating cash flow before financial    |    -2 551 |    -6 232 |      3 070 |
| items and taxes                         |           |           |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest and payment paid for financial |       -42 |      -167 |       -632 |
| expenses                                |           |           |            |
--------------------------------------------------------------------------------
| Interest received                       |         4 |        56 |        197 |
--------------------------------------------------------------------------------
| Income taxes paid                       |       -93 |      -292 |       -557 |
--------------------------------------------------------------------------------
| Operating cash flow ( A )               |    -2 683 |    -6 635 |      2 078 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investing cash flow                                                          |
--------------------------------------------------------------------------------
| Purchase of tangible and intangible     |       -59 |       -24 |       -139 |
| assets                                  |           |           |            |
--------------------------------------------------------------------------------
| Disposals of subsidiaries               |         0 |         0 |         93 |
--------------------------------------------------------------------------------
| Acquisition of subsidiaries             |         0 |         0 |       -966 |
--------------------------------------------------------------------------------
| Acquisition of associates               |       -92 |         0 |          0 |
--------------------------------------------------------------------------------
| Proceeds from sale of tangible and      |        25 |        31 |         30 |
| intangible assets                       |           |           |            |
--------------------------------------------------------------------------------
| Loan receivables, increase              |         0 |         0 |       -977 |
--------------------------------------------------------------------------------
| Proceeds from sale of investments       |         1 |         0 |          3 |
--------------------------------------------------------------------------------
| Investing cash flow ( B )               |      -125 |         7 |     -1 956 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow after investments (A+B)       |    -2 808 |    -6 628 |        122 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financing cash flow                                                          |
--------------------------------------------------------------------------------
| Purchase of own shares                  |         0 |       -44 |        -44 |
--------------------------------------------------------------------------------
| Short-term loans, increase              |       650 |     5 168 |          0 |
--------------------------------------------------------------------------------
| Short-term loans, decrease              |         0 |         0 |     -3 251 |
--------------------------------------------------------------------------------
| Long-term loans, increase               |         0 |     2 506 |      2 528 |
--------------------------------------------------------------------------------
| Hybrid loan, increase                   |         0 |         0 |     10 000 |
--------------------------------------------------------------------------------
| Long-term loans, decrease               |      -834 |      -622 |     -3 112 |
--------------------------------------------------------------------------------
| Dividend paid and other profit          |         0 |         0 |     -1 574 |
| distribution                            |           |           |            |
--------------------------------------------------------------------------------
| Financing cash flow ( C )               |      -184 |     7 009 |      4 547 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Variation in cash (A + B + C)                                                |
--------------------------------------------------------------------------------
| increase ( + ) / decrease ( - )         |    -2 992 |       380 |      4 669 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets in the beginning of the period   |     6 650 |     1 879 |      1 879 |
--------------------------------------------------------------------------------
| Exchange gains or losses on cash and    |       184 |        -9 |        102 |
| bank equivalents                        |           |           |            |
--------------------------------------------------------------------------------
| Assets at the end of the period         |     3 843 |     2 251 |      6 650 |
--------------------------------------------------------------------------------


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY                                     
(EUR 1 000)                                                                     

Legends for table columns                                                       

A) Share Capital                                                                
B) Share Premium Account                                                        
C) Unrestricted Equity Fund                                                     
D) Own shares                                                                   
E) Cumulative Translation Adjustment                                            
F) Other reserves                                                               
G) Retained Earnings                                                            
H) Total                                                                        
I) Minority Interest                                                            
J) Equity total                                                                 


--------------------------------------------------------------------------------
|            |   A    |   B    |   C    |   D    |    E    |    F    |    G    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 474 | -2 025 |  -5 188 |       0 |  19 959 |
| 1.1.2009   |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Dividends  |        |        |        |        |         |         |  -1 574 |
--------------------------------------------------------------------------------
| Purchase   |        |        |        |    -44 |         |         |         |
| of own     |        |        |        |        |         |         |         |
| shares     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Shares to  |        |        |    116 |    120 |         |         |    -179 |
| be issued  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Hybrid     |        |        |        |        |         |  10 000 |     -59 |
| loan       |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Change in  |        |        |        |        |         |         |         |
| translatio |        |        |        |        |         |         |         |
| n          |        |        |        |        |         |         |         |
| difference |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Changes in |        |        |        |        |   1 410 |         |         |
| ownership  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Comprehens |        |        |        |        |   1 245 |         | -14 403 |
| ive income |        |        |        |        |         |         |         |
| for the    |        |        |        |        |         |         |         |
| financial  |        |        |        |        |         |         |         |
| period     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 590 | -1 949 |  -2 534 |  10 000 |   3 745 |
| 31.12.2009 |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |   H    |   I    |   J    |                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     | 26 921 |     79 | 27 000 |                                      |
| 1.1.2009   |        |        |        |                                      |
--------------------------------------------------------------------------------
| Dividends  | -1 574 |        | -1 574 |                                      |
--------------------------------------------------------------------------------
| Purchase   |    -44 |        |    -44 |                                      |
| of own     |        |        |        |                                      |
| shares     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Shares to  |     57 |        |     57 |                                      |
| be issued  |        |        |        |                                      |
--------------------------------------------------------------------------------
| Hybrid     |  9 941 |        |  9 941 |                                      |
| loan       |        |        |        |                                      |
--------------------------------------------------------------------------------
| Change in  |      0 |      6 |      6 |                                      |
| translatio |        |        |        |                                      |
| n          |        |        |        |                                      |
| difference |        |        |        |                                      |
--------------------------------------------------------------------------------
| Changes in |  1 410 |        |  1 410 |                                      |
| ownership  |        |        |        |                                      |
--------------------------------------------------------------------------------
| Comprehens |    -13 |     49 |    -13 |                                      |
| ive income |    159 |        |    109 |                                      |
| for the    |        |        |        |                                      |
| financial  |        |        |        |                                      |
| period     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Equity     | 23 554 |    135 | 23 689 |                                      |
| 31.12.2009 |        |        |        |                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |   A    |   B    |   C    |   D    |    E    |    F    |    G    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 590 | -1 949 |  -2 534 |  10 000 |   3 745 |
| 1.1.2010   |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Dividends  |        |        |        |        |         |         |    -788 |
--------------------------------------------------------------------------------
| Purchase   |        |        |        |     -6 |         |         |         |
| of own     |        |        |        |        |         |         |         |
| shares     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Shares to  |        |        |     -4 |        |         |         |       6 |
| be issued  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Hybrid     |        |        |        |        |         |         |    -174 |
| loan       |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Comprehens |        |        |        |        |   1 070 |         |     647 |
| ive income |        |        |        |        |         |         |         |
| for the    |        |        |        |        |         |         |         |
| financial  |        |        |        |        |         |         |         |
| period     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 586 | -1 955 |  -1 464 |  10 000 |   3 435 |
| 31.3.2010  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |   H    |   I    |   J    |                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     | 23 554 |    135 | 23 689 |                                      |
| 1.1.2010   |        |        |        |                                      |
--------------------------------------------------------------------------------
| Dividends  |   -788 |        |   -788 |                                      |
--------------------------------------------------------------------------------
| Purchase   |     -6 |        |     -6 |                                      |
| of own     |        |        |        |                                      |
| shares     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Shares to  |      2 |        |      2 |                                      |
| be issued  |        |        |        |                                      |
--------------------------------------------------------------------------------
| Hybrid     |   -174 |        |   -174 |                                      |
| loan       |        |        |        |                                      |
--------------------------------------------------------------------------------
| Comprehens |  1 717 |     17 |  1 734 |                                      |
| ive income |        |        |        |                                      |
| for the    |        |        |        |                                      |
| financial  |        |        |        |                                      |
| period     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Equity     | 24 304 |    152 | 24 456 |                                      |
| 31.3.2010  |        |        |        |                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |   A    |   B    |   C    |   D    |    E    |    F    |    G    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 474 | -2 025 |  -5 188 |       0 |  19 959 |
| 1.1.2009   |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Dividends  |        |        |        |        |         |         |  -1 574 |
--------------------------------------------------------------------------------
| Purchase   |        |        |        |    -44 |         |         |         |
| of own     |        |        |        |        |         |         |         |
| shares     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Shares to  |        |        |        |     50 |         |         |         |
| be issued  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Comprehens |        |        |        |        |     -55 |         |      81 |
| ive income |        |        |        |        |         |         |         |
| for the    |        |        |        |        |         |         |         |
| financial  |        |        |        |        |         |         |         |
| period     |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Equity     |  5 000 |  6 701 |  2 474 | -2 019 |  -5 243 |       0 |  18 466 |
| 31.3.2009  |        |        |        |        |         |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |   H    |   I    |   J    |                                      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity     | 26 921 |     79 | 27 000 |                                      |
| 1.1.2009   |        |        |        |                                      |
--------------------------------------------------------------------------------
| Dividends  | -1 574 |        | -1 574 |                                      |
--------------------------------------------------------------------------------
| Purchase   |    -44 |        |    -44 |                                      |
| of own     |        |        |        |                                      |
| shares     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Shares to  |     50 |        |     50 |                                      |
| be issued  |        |        |        |                                      |
--------------------------------------------------------------------------------
| Hybrid     |        |        |      0 |                                      |
| loan       |        |        |        |                                      |
--------------------------------------------------------------------------------
| Comprehens |     26 |      6 |     32 |                                      |
| ive income |        |        |        |                                      |
| for the    |        |        |        |                                      |
| financial  |        |        |        |                                      |
| period     |        |        |        |                                      |
--------------------------------------------------------------------------------
| Equity     | 25 379 |     85 | 25 464 |                                      |
| 31.3.2009  |        |        |        |                                      |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| KEY FIGURES                  |     1-3/ |      1-3/ |     1-12/ |  Change to |
--------------------------------------------------------------------------------
| (EUR 1 000)                  |     2010 |      2009 |      2009 |  prev.year |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue                      |   24 853 |    29 510 |    98 700 |    -15,8 % |
--------------------------------------------------------------------------------
| Operating profit             |    1 125 |     1 183 |    -3 587 |     -4,9 % |
--------------------------------------------------------------------------------
| Operating profit, %          |      4,5 |       4,0 |      -3,6 |            |
--------------------------------------------------------------------------------
| Profit before taxes          |      986 |       980 |    -4 304 |      0,6 % |
--------------------------------------------------------------------------------
| Profit before taxes, %       |      4,0 |       3,3 |      -4,4 |            |
--------------------------------------------------------------------------------
| Return on equity, %          |     11,5 |      11,7 |     -13,0 |            |
--------------------------------------------------------------------------------
| Return on investment, % *)   |     13,3 |      10,7 |      -8,6 |            |
--------------------------------------------------------------------------------
| Equity ratio %               |     39,8 |      32,1 |      38,5 |            |
--------------------------------------------------------------------------------
| Gross interest-bearing debt  |   11 498 |    23 670 |    11 585 |    -51,4 % |
--------------------------------------------------------------------------------
| Net gearing, %               |     31,3 |      84,1 |      20,8 |            |
--------------------------------------------------------------------------------
| Balance sheet, total         |   61 492 |    79 588 |    61 704 |    -22,7 % |
--------------------------------------------------------------------------------
| Gross investments            |      389 |       168 |     4 763 |    131,5 % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share, EUR      |     0,03 |      0,04 |     -0,17 |    -25,0 % |
--------------------------------------------------------------------------------
| Diluted earnings per share,  |     0,03 |      0,04 |     -0,17 |    -25,0 % |
| EUR                          |          |           |           |            |
--------------------------------------------------------------------------------
| Equity per share, EUR        |     1,23 |      1,29 |      1,20 |     -4,7 % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Personnel, average           |    1 509 |     1 788 |     1 765 |    -15,6 % |
--------------------------------------------------------------------------------
| Personnel at end of the      |    1 500 |     1 760 |     1 544 |    -14,8 % |
| period                       |          |           |           |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| *)Return on investment has been calculated from result before taxes          |
--------------------------------------------------------------------------------


NOTES TO THE FINANCIAL STATEMENT SUMMARY                                        

General                                                                         

The parent company of Etteplan Group is Etteplan Oyj (the Company), a Finnish   
public limited company established under Finnish law. The Company is domiciled  
in Hollola.                                                                     

Etteplan is a specialist in industrial equipment engineering and technical      
product information solutions and services. Our customers are global leaders in 
their fields and operate in areas like the automotive, aerospace and defence    
industries as well as the electricity generation and power transmission sectors,
and material flow management.                                                   

Etteplan has comprehensive competence in electronics and embedded systems       
development, automation and electrical design, mechanical design and technical  
product information solutions and services.                                     

Etteplan's strength lies in its highly skilled employees who, being located near
to the customers, are able to develop close, long term business relationships.  
We implement solutions globally according to customer needs.                    

In 2009, Etteplan had turnover of EUR 98.7 million. Etteplan's shares are listed
on NASDAQ OMX Helsinki Ltd under the ETT1V ticker.                              

The Etteplan Oyj Board of Directors approved the interim report for publication 
at its meeting of May 5, 2010.                                                  

Basis for preparation                                                           

The interim report has been prepared in accordance with IAS 34 (Interim         
Financial Reporting) and the preparation and accounting policies presented in   
the 2009 annual financial statements, but not all requirements of the IAS 34    
standard for interim financial reporting have been followed in the accounting.  

Monetary figures in the interim report are presented in thousands of euros. All 
figures in the tables have been rounded up or down, due to which the sums of    
figures may deviate from the sum totals presented.                              

In interim report the accounting principles used were the same as for the 2009  
annual financial statements. The annual financial statements are available at   
http://etteplan.smartpage.fi/en/annualreport09/ and the accounting policy is    
detailed on pages 26-30 of the annual report 2009. Formulas for the key figures 
are detailed on page 45 of the annual report 2009.                              

Income taxes                                                                    

The taxes listed in the consolidated statement of comprehensive income have been
calculated with the tax rate appropriate for the projected full-year result. The
estimated average effective tax rate for the year has been set separately for   
each relevant country. The effective tax rate used in the interim report is     
29.7%.                                                                          

Risks                                                                           

Etteplan´s financial results are exposed to number of strategic, operational and
financial risks.                                                                

Etteplan Group's most significant goodwill are related to the Swedish           
operations. The current impairment test shows no reason for goodwill write-down.

A detailed risk analysis can be found in Etteplan´s annual report 2009.