ETTEPLAN Financial Statement Review 2021 published: Revenue and operating profit (EBITA) rose to a new level

Etteplan News release February 10, 2022

Etteplan’s Financial Statement Review 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 February 10, 2022 at 2.30 p.m. EET here:https://etteplan.videosync.fi/january-december-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-financial-statement-release-2021-be-published-february-10-2022

President and CEO Juha Näkki:

As expected, we managed to accelerate our profitable growth in the fourth quarter and lifted our full-year revenue and operating profit (EBITA) to a new level: our revenue exceeded EUR 300 million and our operating profit (EBITA) exceeded EUR 30 million for the first time. During the year, we made a large number of various growth-oriented investments in accordance with our strategy. We invested in the development of our service solutions and new capabilities by establishing new teams in a number of different competence areas. We also made five acquisitions that support international growth. I am very satisfied with our performance during the past year and I want to take this opportunity to thank all of our personnel for their excellent work throughout the year.  

The demand situation was good almost throughout the year in all of our market areas. After a slight downturn in the third quarter, the demand situation again recovered to a good level in the fourth quarter and we accelerated our growth. Growth was particularly strong in our Software and Embedded Solutions service area – which achieved over 30 per cent growth in the final quarter and over 25 per cent growth for the year as a whole – and in China, where hours sold in the local market grew by over 55 per cent during the year.   

Our growth was also profitable and we were able to maintain our profitability (EBITA) at our target level of 10 per cent for the year. The development of profitability was the strongest in the Technical Documentation Solutions service area, where profitability (EBITA) rose to the level of 12 per already for the second time during the year.

Retaining and recruiting highly competent personnel is increasingly challenging in the prevailing good market condition. During the pandemic, we have continued to make significant investments in the development of our HR processes and recruitment as well as in supporting and managing remote work in accordance with the hybrid work model. These investments have supported our growth in all of our businesses, and our employee satisfaction has also continued to develop favorably throughout the pandemic. This puts us in a good position as we enter 2022.

Etteplan’s target is to achieve revenue of EUR 500 million in 2024. The pandemic has created an additional challenge for achieving this target, and the pandemic continues to affect our operations in the form of increased sick leaves. However, we do not expect this to have a major impact on the overall market situation, and we expect demand to remain fairly good throughout 2022. We returned to strong profitable growth path in 2021 and started the year 2022 assertively by acquiring the Germany-based company Cognitas for our Technical Documentation Solutions service area and the Sweden-based Syncore for our Software and Embedded Solutions service area. We will continue our investments in organic and inorganic growth and our progress towards our goals in 2022.

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