ETTEPLAN Financial Statement Review for 2020 published: Despite the pandemic operating profit (EBITA) and cash flow hit new records

Etteplan News release February 11, 2021

Etteplan’s Financial Statement Review for 2020  is published. You can find the Report and the related presentation materials at https://www.etteplan.com/investors/reports-presentations.

Join our webcast today February 11, 2021 at 2.30 P.M. EET.  https://etteplan.videosync.fi/2020-q4-results A recording of the webcast can be found through the same link after the live event.

More information can be found here: https://www.etteplan.com/releases/etteplans-financial-statement-release-2020-be-published-february-11-2021

President and CEO Juha Näkki:
“To begin with, I want to thank our personnel for their excellent contribution throughout the year. It was a difficult year, and we were forced to make hard decisions as the pandemic progressed. We were successful in defending our market position and, thanks to good operational efficiency, we achieved excellent results in all of our service areas. In terms of results, the final quarter of the year was the best in the Group’s history, and our full-year operating profit (EBITA) and cash flow also hit new records. 

The pandemic had a significant impact on the demand situation during the year, and we had to adapt our operations accordingly. Toward the end of the year, however, the demand situation improved clearly thanks to the positive news about vaccines and the start of vaccinations. Investment decisions in product development and production were made, which creates confidence in the future development of the market. In particular, a large number of investments related to digitalization started, which was reflected in the strong performance of our Software and Embedded Solutions service area.

The improved market situation and good financial development also allowed us to continue our investments in the development of our business. We continued the development of our service offering during the latter part of the year and we also made two acquisitions despite the pandemic: The Netherlands-based Tegema strengthens our offering in production solutions, while TekPartner from Denmark opens up a new market for us, creating new growth opportunities.

Although the market situation has improved, the pandemic is still with us as we have entered the new year. It will undoubtedly influence the development of our business during the first half of the year. However, as vaccinations move forward, we believe the demand situation will develop favorably and we will return to the path of profitable growth in 2021.”

Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302