ETTENasdaq HelsinkiEngineering & ConstructionIFRS · EUR

Etteplan Oyj

Etteplan is a technology service company specializing in software and embedded solutions, industrial equipment and plant engineering, and technical communication solutions. It serves global leaders in the manufacturing industry, aiming to enhance the competitiveness of their products and processes throughout the product lifecycle. With a workforce of around 4,000 professionals, Etteplan operates in Finland, Sweden, the Netherlands, Germany, Poland, Denmark, and China. The company's shares are listed on Nasdaq Helsinki under the ticker ETTE.

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Revenue361m EUR
+0.1 %y/y
Operating profit (EBIT)17.9m EUR
−3.0 %y/y
EBIT margin4.9%
−0.2 ppy/y
Net income10.6m EUR
+1.7 %y/y
Free cash flow31.1m EUR
+9.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0100200300400m EUR2021: 300 m EUR2021: EBIT 26 m EUR20212022: 350 m EUR2022: EBIT 29 m EUR20222023: 360 m EUR2023: EBIT 26 m EUR20232024: 361 m EUR2024: EBIT 18 m EUR20242025: 361 m EUR2025: EBIT 18 m EUR2025TTM 2026: 355 m EURTTM355
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Software and Embedded Solutions30 %

Includes development of software and embedded systems for industrial applications.

Industrial Equipment Engineering25 %

Engineering services for industrial machinery and equipment.

Plant Engineering20 %

Design and engineering services for industrial plants.

Technical Communication Solutions15 %

Services related to technical documentation and communication.

AI-Powered Service Solutions10 %

AI-driven solutions to enhance engineering processes and product lifecycles.

Customers

Etteplan primarily serves industrial companies, particularly in the machinery and metal industries. Its customer base includes global leaders seeking to improve their competitiveness through innovative engineering solutions. The company addresses the needs of customers facing challenges from digitalization, technological advancements, and sustainability. Etteplan's services are designed to support cost-saving measures and enhance operational efficiency, making it a trusted partner for companies undergoing transformation.

Industrial Manufacturers

Purchase engineering and technical solutions to enhance product competitiveness.

Technology-Driven Companies

Seek AI-powered solutions for digital transformation.

Global Leaders in Manufacturing

Require comprehensive engineering services across product lifecycles.

Strategy

Etteplan's strategy for 2025–2027 focuses on leveraging AI and technology to enhance service offerings and customer value. The company aims to increase the share of revenue from AI-driven solutions to 35% by 2027. Strategic priorities include becoming a trusted partner, developing technology-empowered service solutions, and achieving success through people. The strategy is designed to address trends such as digitalization, the importance of AI, and sustainability, positioning Etteplan as a leader in engineering innovation.

AI and Technology-Driven SolutionsLong term

To enhance service offerings and customer value.

Trusted PartnerMedium term

To strengthen customer relationships and market position.

Success with PeopleShort term

To leverage expertise and drive innovation.

Geography

Q3/2025

Etteplan operates in several countries, with significant presence in Finland, Sweden, the Netherlands, Germany, Poland, Denmark, and China. The company has expanded its workforce outside Finland, with over 50% of employees based internationally. Key markets include Scandinavia and Central Europe, where demand for engineering solutions is strong. The company also has operations in China, serving both local and international clients, which helps diversify its revenue streams.

Finland43 %
Central Europe29 %
Scandinavia24 %
China3.7 %

Share of the revenue the company reports by geography.

Risks

Etteplan faces several risks, including geopolitical tensions affecting the global machinery and metal industries. Economic uncertainty and customer cost-saving measures pose significant challenges. The company is also exposed to risks related to technological advancements and the need for highly skilled employees. Financial risks include interest rate fluctuations and currency exchange volatility. Etteplan mitigates these risks through diversified customer base and strategic investments in technology and talent.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical Tensions1Economic Uncertainty2Technological Advancements3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Geopolitical TensionsImpact: HighLikelihood: High

    Affect global machinery and metal industries.

  2. Economic UncertaintyImpact: HighLikelihood: High

    Leads to customer cost-saving measures.

  3. Technological AdvancementsImpact: MediumLikelihood: Low

    Require continuous investment in skills.

Accounting

Judgemental items
Revenue Recognition

Affects timing and comparability of financial results.

Impact: high

Goodwill Impairment

Significant due to acquisitions.

Impact: medium

Lease Accounting

Impacts reported liabilities under IFRS 16.

Impact: medium

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Last updated: 24/09/2026