Etteplan Half Year Financial Report January-June 2021 published: Strong and profitable growth

Etteplan News release August 11, 2021

Etteplan's Half Year Financial Report January-June 2021 has been published. You can find the Report and the related presentation materials at https://www.etteplan.com/investors/reports-presentations.

Join our webcast today August 11, 2021 at 2.30 P.M. EEST here:https://etteplan.videosync.fi/q2-2021.

A recording of the webcast can be found through the same link after the live event.

More information about the webcast can be found here: https://www.etteplan.com/releases/etteplans-january-june-2021-half-year-financial-report-be-published-august-11-2021

President and CEO Juha Näkki:
"As expected, our growth accelerated in the second quarter of the year and our revenue grew to a new record level. The comparison period was fairly weak due to the COVID-19 pandemic, but despite that our growth of nearly 20 per cent and organic growth of more than 10 per cent were strong indications of our growth ambition and competitiveness in the improving market situation. We were particularly satisfied with the Software and Embedded Solutions service area’s strong growth of more than 30 per cent. 
Our growth was also profitable and, thanks to good operational efficiency, we once again exceeded our target level for EBITA of 10 per cent. Profitability was at a good level in all of our service areas. We were especially pleased with the excellent profitability of more than 12 per cent achieved by the Technical Documentation Solutions service area.
During the review period we accelerated our recruitment and continued our investments in strategy implementation, which had been suspended due to the pandemic. These factors had a slight impact on our cost structure. We also carried out two acquisitions in line with our growth strategy. We acquired the Germany-based F.I.T. for the Technical Documentation Solutions service area and the Poland-based Skyrise.tech for the Software and Embedded Solutions service area. F.I.T. strengthens our competence in the defense industry, while Skyrise.tech significantly increases our competence in cloud services and software applications. After the review period, we announced the acquisition of Adina Solutions Oy in Finland for the Technical Documentation Solutions service area.
We intend to continue to actively assess new acquisition opportunities and we strengthened our organization during the review period to support unorganic growth and reaching of our growth target. Going forward, our current CFO Per-Anders Gådin will be in charge of acquisition processes and business development. We have appointed Helena Kukkonen as our new CFO. 
Due to the positive development in the first half of the year, we are upgrading our financial guidance for revenue. While the pandemic continues to affect our business and the virus variants maintain uncertainty, the orders received by our customers have grown substantially, which is why we believe that the good market situation will continue in the second half of the year."

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