ETTEPLAN Q2 2026: Demand shows first signs of recovery amid uncertainty
ETTEPLAN OYJ Half Year Financial Report August 5, 2026, at 1.00 p.m.
ETTEPLAN Q2 2026: Demand shows first signs of recovery amid uncertainty
Key points April-June 2026
- The Group’s revenue decreased by 2.7 percent and was EUR 88.9 million (4-6/2025: EUR 91.4 million). At comparable exchange rates, revenue decreased by 3.2 percent.
- Operating profit (EBITA) decreased by 9.0 percent and was EUR 5.5 (6.0) million, or 6.1 (6.6) percent of revenue.
- Operating profit (EBIT) decreased by 4.4 percent and was EUR 4.2 (4.4) million, or 4.7 (4.8) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in April-June was EUR -0.3 (-0.9) million.
- Operating cash flow was EUR 3.7 (6.9) million.
- Basic earnings per share was EUR 0.10 (0.10).
- The share of revenue derived from AI-driven service solutions developed by Etteplan was 6 (4) percent during the quarter.
Key points January-June 2026
- The Group’s revenue decreased by 3.7 percent and was EUR 179.4 million (1-6/2025: EUR 186.3 million). At comparable exchange rates, revenue decreased by 4.3 percent.
- Operating profit (EBITA) decreased by 22.3 percent and was EUR 9.2 (11.8) million, or 5.1 (6.3) percent of revenue.
- Operating profit (EBIT) decreased by 25.5 percent and was EUR 6.4 (8.5) million, or 3.5 (4.6) percent of revenue.
- The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-June was EUR -1.0 (-2.3) million.
- Operating cash flow was EUR 7.8 (12.0) million.
- Basic earnings per share was EUR 0.14 (0.19).
- The share of revenue derived from AI-driven service solutions developed by Etteplan was 6 (4) percent during the first half of the year.
Etteplan also monitors non-IFRS performance measures because they provide additional information on Etteplan’s development. More information on performance measures is provided at the end of the release.
| Key figures | |||||
| EUR 1,000 | 4-6/2026 | 4-6/2025 | 1-6/2026 | 1-6/2025 | 1-12/2025 |
| Revenue | 88,939 | 91,430 | 179,447 | 186,298 | 361,417 |
| Operating profit (EBITA) | 5,465 | 6,002 | 9,159 | 11,781 | 24,224 |
| EBITA, % | 6.1 | 6.6 | 5.1 | 6.3 | 6.7 |
| Operating profit (EBIT) | 4,193 | 4,388 | 6,362 | 8,543 | 17,866 |
| EBIT, % | 4.7 | 4.8 | 3.5 | 4.6 | 4.9 |
| Basic earnings per share, EUR | 0.10 | 0.10 | 0.14 | 0.19 | 0.42 |
| Equity ratio, % | 40.9 | 38.4 | 40.9 | 38.4 | 40.8 |
| Operating cash flow | 3,653 | 6 946 | 7,783 | 11,959 | 32,005 |
| ROCE, % | 7.9 | 8.3 | 6.2 | 8.2 | 8.3 |
| Personnel at end of the period | 3,680 | 3,870 | 3,680 | 3,870 | 3,777 |
President and CEO Juha Näkki:
The second quarter began on a continued slow note. As in the first quarter, the demand situation was difficult, and very few new projects were started. However, towards the end of the quarter, demand began to show slight signs of a recovery with regard to product development. This was particularly visible in Finland, where the number of temporary layoffs, for example, turned to a decrease during the review period when compared to the previous quarter. Demand in the defence industry continued to be strong, and demand in the energy industry remained moderate. Demand in the mining industry also picked up during the review period, which is an encouraging sign. The demand situation in the automotive industry continued to deteriorate, which affected our business particularly in Sweden and Germany. In China, the demand situation was better than in Europe, and the number of hours sold in the Chinese market increased substantially during the review period.
During the first half of the year, we continued to invest in the development of our service offering. We updated our existing offering with new AI applications and launched new service solutions. Interest in our new solutions is at a good level, and we are confident that they will bring growth to all of our service areas in the future. During the review period, we also signed certain significant agreements with, for example with Patria.
Market uncertainty has remained at a high level for several years now. Various conflicts have weakened the demand situation and made it very difficult to predict the market. Also the changes driven by AI are affecting demand. The recent geopolitical events demonstrate that market risks remain at a very high level, and we slightly lowered the upper end of our financial guidance. Nevertheless, the slight recovery in demand seen at the end of the review period is the first encouraging sign of an emerging turnaround in the market for a long time, and we hope that this development will continue. We will continue to execute our strategy and remain confident that the AI-driven service solutions at the core of our strategy will steer our business back onto a profitable growth path in the second half of the year.
Market outlook 2026
The most important factor affecting Etteplan’s business is the global development of the machinery and metal industry. Geopolitical tensions and prolonged conflicts are keeping market uncertainty still at a high level, which weakens consumer demand and significantly affects our customers’ decision-making. New investments are still being started at a cautious pace, and predicting the market situation remains difficult. However, towards the end of the review period, discussions and tendering activity picked up slightly, and there were signs of slight positive momentum in demand, especially in product development projects. The defence industry and the energy industry remain the segments in which demand is developing favorably, and demand in the mining industry picked up. In our other customer industries, investments are generally at a low level, and the demand situation remains challenging.
Financial guidance 2026
Etteplan issues guidance for revenue and operating profit (EBIT) as a numerical range.
Etteplan specifies its financial guidance for revenue and operating profit (EBIT) within the previously communicated range.
Etteplan estimates that revenue in 2026 will be EUR 360-375 (2025: 361.4) million.
Etteplan estimates that operating profit (EBIT) in 2026 will be EUR 19-22 (2025: 17.9) million.
Previous financial guidance 2026 (May 7, 2026):
Etteplan specifies its financial guidance for operating profit (EBIT) within the previously communicated range.
Etteplan estimates that revenue in 2026 will be EUR 360-380 (2025: 361.4) million.
Etteplan estimates that operating profit (EBIT) in 2026 will be EUR 19-23 (2025: 17.9) million.
Disclosure procedure
This stock exchange release is a summary of Etteplan's January-June 2026 Half Year Financial Report. The complete Half Year Financial Report is attached to this stock exchange release in pdf format and is also available on Etteplan's website at www.etteplan.com.
Conference call and live webcast today, August 5, 2026
Etteplan’s President and CEO Juha Näkki will present the Company’s results for January-June 2026 in a conference call and a live webcast, held in English language, on August 5, 2026 starting at 2.30 p.m. (EEST).
Questions can be asked in Finnish and in English after the President and CEO’s presentation only through conference call connection. Participants must register through this link https://events.inderes.com/etteplan/q2-2026/dial-in to ask questions through the conference call lines. After registering the participants will receive a teleconference number and a code to join the call. The participants are asked to press *5 to join the queue for questions.
Juha Näkki’s presentation can be followed as a live webcast on https://etteplan.events.inderes.com/q2-2026. The webcast starts at 2.30 p.m. (EEST). A recording of the webcast will be later available at www.etteplan.com.
Espoo, August 5, 2026
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
The information presented herein has not been audited.
Releases and other corporate information are available on Etteplan's website at www.etteplan.com.
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan in brief
Etteplan is a growing technology service company with the purpose of bringing people and technology together to change things for the better. Together with our customers, we are building a world where every system, process, and product can be made smarter, more efficient, and more sustainable. Our customers include the world’s leading companies in the manufacturing industry. In 2025, we had a revenue of EUR 361.4 million and around 4,000 professionals in Finland, Sweden, the Netherlands, Germany, Poland, Denmark and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com