Slides
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Etteplan Q2 2026 : Demand shows first signs of recovery amid uncertainty JUHA NÄKKI , CEO AUGUST 5 , 2026 ESPOO , FINLAND ▸ etteplan
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Agenda 1. Highlights and overview Q2 2026 2. Financial development Q2 2026 3. Service areas Q2 2026 4. Etteplan’s strategy and financial guidance 2026 5. Q&A Etteplan Q2/2026 Investor Presentation
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Highlights Q2 2026 + Improving demand – Towards the end of the quarter, demand began to show slight signs of a recovery, particularly in product development – the first encouraging sign of an emerging turnaround in the market for a long time. + In China, the demand situation was better, and the number of hours sold in the Chinese market increased by 16%. + AI offering – We continued to invest in the development of our service offering by updating our existing offering with new AI applications and launching new service solutions. Interest in our new solutions is at a good level. + New agreements – We signed certain significant agreements and deepened our collaboration for example with Patria. AI offering is included in all new major agreements. - Market uncertainty – Geopolitical tensions and prolonged conflicts kept market uncertainty still at a high level, which weakened consumer demand and significantly affected our customers’ decision-making. - Financial results – Due to market uncertainty, revenue declined and profitability fell behind our expectations. - Adjustment to financial guidance – 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. Etteplan Q2/2026 Investor Presentation 3
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Operating environment and countries Q2 2026 OPERATING ENVIRONMENT • The operating environment remained challenging in the second quarter. Geopolitical tensions and prolonged conflicts kept market uncertainty still at a high level, which weakened consumer demand and significantly affected our customers’ decision-making. • 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. • At the same time, projects were also suspended and postponed. This weakened our demand situation and again made it challenging to predict the market situation. Although product development projects were started to some extent, investments generally remained at a low level. DEVELOPMENT OF DEMAND IN ETTEPLAN’S OPERATING COUNTRIES • Demand in our operating countries in Europe remained challenging but, towards the end of the review period, there were cautious signs of a recovery, especially in Finland, where the demand situation has been difficult. • In Sweden and Germany, demand remained weak due to slow demand in the automotive industry. • In China, the market situation was better than in Europe and the development of demand was positive; the demand for technology services was supported by the strengthening of the trend of companies purchasing services instead of hiring employees of their own. Etteplan Q2/2026 Investor Presentation 4
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Key figures Q2 2026 R e v e n u e 8 8 . 9 M € - 2 . 7 % O p e r a t i n g p r o f i t ( E B I T A ) 5 . 5 M € 6 . 1 % O p e r a t i n g p r o f i t ( E B I T ) 4 . 2 M € 4 . 7 % E P S ( E a r n i n g s p e r s h a r e ) 0 . 1 0 € Etteplan Q2/2026 Investor Presentation
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Engineering solutions 58% (56%) Software and Embedded Solutions 22% (23%) Technical Communication and Data Solutions 20% (20%) Revenue by service area EUR 88.9 million Finland 45% (46%) Scandinavia 27% (27%) Central Europe 25% (24%) China 3% (3%) Revenue by country EUR 88.9 million Revenue and personnel Q2 2026 Finland 47% (48%) Scandinavia 19% (18%) Central Europe 24% (24%) China 11% (10%) Personnel by country 3,680 Etteplan Q2/2026 Investor Presentation 6
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16% (16%) 13% (15%) 11% (9%) 10% (10%) 9% (7%) 9% (10%) 5% (5%) 5% (5%) 4% (5%) 4% (4%) 3% (3%) 3% (3%) 2% (2%) 6% (6%) 0% 4% 8% 12% 16% 20% Energy Automotive Metal and Mining Industrial Machinery Aerospace and Defence Forest Industry Chemical ICT and Electronics Building technology Marine and Transportation Healthcare and Medical technology Material handling Consumer Other Increase Decrease Revenue by customer segment Q2 2026 Etteplan Q2/2026 Investor Presentation 7
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Financial development Q2/2026
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Key figures Etteplan Q2/2026 Investor Presentation M€ 4-6/2026 4-6/2025 Change % 1-6/2026 1-6/2025 Change % 1-12/2025 Revenue 88.9 91.4 -2.7 179.4 186.3 -3.7 361.4 Operating profit (EBITA) 5.5 6.0 -9.0 9.2 11.8 -22.3 24.2 EBITA, % 6.1 6.6 5.1 6.3 6.7 Operating profit (EBIT) 4.2 4.4 -4.4 6.4 8.5 -25.5 17.9 EBIT, % 4.7 4.8 3.5 4.6 4.9 Basic earnings per share, EUR 0.10 0.10 5.4 0.14 0.19 -26.3 0.42 Operating cash flow 3.7 6.9 -47.4 7.8 12.0 -34.9 32.0 Share of AI-driven revenue, % 6 4 50.0 6 4 50.0 5 Managed Services Index 66 65 0.6 66 66 0.5 67 Personnel at end of the period 3,680 3,870 -4.9 3,680 3,870 -4.9 3,777 9
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• Weak demand continued in January–June • Revenue accrual picked up towards the end of the review period • In Q2, organic revenue -3.5% • In Q2, revenue from key accounts -1.0% • At comparable exchange rates -3.2% • Organic -3.5% • At comparable exchange rates -4.0% • Revenue from key accounts -1.0% REVENUE Q2 88.9 M€ (91.4 M€) -2.7% REVENUE 1-6 2026 179.4 M€ (186.3 M€) -3.7% • At comparable exchange rates -4.3% • Organic -4.4% • At comparable exchange rates -5.0% • Revenue from key accounts -0.7% Revenue – Market uncertainty continues 94.9 91.4 82.2 92.9 90.5 88.9 0 20 40 60 80 100 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 M€ Etteplan Q2/2026 Investor Presentation 10
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• Non-recurring items were -0.3 M€ (-0.9) in Q2 and -1.0 M€ (-2.3) in H1 • The non-recurring items consisted of expenses related to organizational restructuring and adaptation measures • In H1, the non-recurring items were significant, and without the non-recurring items the operating profit (EBITA-%) for H1 would have been 5.7% EBITA Q2 5.5 M€ (6.0 M€) -9.0% EBITA 1-6 2026 9.2 M€ (11.8 M€) -22.3% EBITA – Result impacted by challenging market situation EBITA -% 6.1% (6.6%) • Non-recurring items -0.3 M€ (-0.9) EBITA -% 5.1% (6.3%) • Non-recurring items -1.0 M€ (-2.3) 6.0 5.5 6.6% 6.1% 0 2 4 6 8 0 2 4 6 8 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 EBITA, % M€ % Etteplan Q2/2026 Investor Presentation 11
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• In Q2, amortizations related to acquisitions were -1.3 M€ (-1.6) EBIT Q2 4.2 M€ (4.4 M€) -4.4% EBIT 1-6 2026 6.4 M€ (8.5 M€) -25.5% EBIT EBIT -% 4.7% (4.8%) • Non-recurring items -0.3 M€ (-0.9) • Amortizations related to acquisitions -1.3 M€ (-1.6) EBIT -% 3.5% (4.6%) • Non-recurring items -1.0 M€ (-2.3) • Amortizations related to acquisitions -2.8 M€ (-3.2) 4.4 4.2 4.8% 4.7% 0 2 4 6 0 2 4 6 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 EBIT, % Etteplan Q2/2026 Investor Presentation 12 M€ %
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• For Q2, earnings per share at previous year's level and for H1 below EARNINGS PER SHARE Q2 0.10 € (0.10 €) 5.4% EARNINGS PER SHARE 1-6 2026 0.14 € (0.19 €) -26.3% Earnings per share – At previous year's level in Q2 0.73 0.66 0.41 0.42 Q1: 0.09 Q1: 0.04 Q2: 0.10 Q2: 0.10 0.36 0.30 0.22 0.22 0.00 0.20 0.40 0.60 0.80 2022 2023 2024 2025 2025 2026 Earnings per share Dividend € Etteplan Q2/2026 Investor Presentation 13 H1: 0.19 H1: 0.14
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• Weaker result and non-recurring items in H1 affected operating cash flow • Operating cash flow accrues unevenly over the four quarters of the year due to periodic fluctuation in business OPERATING CASH FLOW Q2 3.7 M€ (6.9 M€) OPERATING CASH FLOW 1-6 2026 7.8 M€ (12.0 M€) Operating cash flow – Declined in Q2 31.0 32.0 12.0 7.8 6.9 3.7 9.0 18.3 0.5 7.6 7.1 3.6 0 10 20 30 40 2024 2025 1-6/2025 1-6/2026 Q2/2025 Q2/2026 Operating cash flow Cash flow after investments M€ Etteplan Q2/2026 Investor Presentation 14
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3,929 3,902 3,803 3,777 Finland Scandinavia Central Europe China 0 1,000 2,000 3,000 4,000 2022 2023 2024 2025 2026 3,680 Personnel • The number of personnel at the end of the period was 3,680 (3,870) • The average number of personnel during the period was 3,722 (3,879) • The number of personnel decreased by 4.9 % compared to the end of June 2025 • In the weak market situation , we have slowed down recruitment and implemented temporary layoffs in Finland during the review period • At the end of June 2026, 140 (121) persons were temporarily laid off in Finland. The number of temporary layoffs decreased during the review period compared to the previous quarter . Etteplan Q2/2026 Investor Presentation 15
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Income statement Etteplan Q2/2026 Investor Presentation 16 M€ 4-6/2026 4-6/2025 1-6/2026 1-6/2025 Change % 1-12/2025 Revenue 88.9 91.4 179.4 186.3 -3.7 361.4 Other operating income 0.3 0.2 1.1 0.4 1.2 Materials and services -11.8 -11.0 -23.0 -22.6 -45.7 Employee benefits expenses -59.4 -62.0 -123.2 -126.8 -242.5 Other operating expenses -9.6 -9.7 -19.3 -19.4 -38.0 Depreciation and amortization -4.2 -4.6 -8.8 -9.4 -18.6 Operating profit (EBIT) 4.2 4.4 6.4 8.5 -25.5 17.9 Financial income 0.2 0.2 0.5 0.4 0.4 Financial expenses -1.2 -1.4 -2.4 -2.7 -4.8 Profit before taxes 3.1 3.2 4.5 6.2 -27.7 13.4 Income taxes -0.5 -0.7 -0.9 -1.5 -2.8 Profit for the review period 2.6 2.5 3.6 4.7 -23.7 10.6 Other comprehensive income, that may be reclassified to profit or loss Currency translation differences -0.6 -2.0 -1.2 0.8 -247.1 2.6 Other comprehensive income, that will not be reclassified to profit or loss Change in fair value of equity investments at fair value through other comprehensive income -0.2 0.0 -0.2 0.0 -3.4 Remeasurement of defined benefit plan - - - - 0.2 Other comprehensive income, net of tax -0.8 -2.0 -1.4 0.8 -0.7 Total comprehensive income for the review period 1.8 0.5 2.2 5.6 -60.4 9.9
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Balance sheet Etteplan Q2/2026 Investor Presentation 17 M€ Jun 30, 2026 Jun 30, 2025 Dec 31, 2025 Goodwill 125.9 126.6 126.7 Other non-current assets 56.5 68.3 62.3 Non-current assets, total 182.4 194.9 189.0 Inventory 0.6 0.6 0.6 Trade and other receivables 85.6 92.5 83.9 Cash and cash equivalents 25.6 22.9 30.4 Current assets, total 111.8 116.1 114.9 Total assets 294.2 311.1 304.0 Equity, total 118.8 117.8 122.1 Non-current liabilities, total 89.3 92.8 64.4 Current liabilities, total 86.2 100.4 117.4 Total equity and liabilities 294.2 311.1 304.0
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Service areas Q2/2026
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Q2 2026 • Revenue 51.7 M€ (51.6) +0.2% • Revenue from Managed Services 63% (65%) • EBITA 3.8 M€ (3.9 M€) • EBITA-% 7.3% (7.6%) Engineering Solutions • The demand situation remained challenging due to customers' slow investment decisions and the uncertain market environment. However, product development project activity increased towards the end of the review period. • The slow demand in the beginning of the year was reflected in lower operational efficiency . This had a negative impact and kept profitability on a modest level. • EBITA -% for H1 was 6.0%. Profitability was negatively affected by non -recurring items, which amounted to EUR -0.5 million in January -June. Without the non - recurring items, the service area's profitability (EBITA, %) for January -June would have been 6.5%. 51.6 51.7 65% 63% 7.6% 7.3% 0 2 4 6 8 10 0 20 40 60 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Revenue Revenue from Managed Services, % EBITA, % % Etteplan Q2/2026 Investor Presentation 19 M€
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Q2 2026 • Revenue 19.5 M€ (21.5) -9.1% • Revenue from Managed Services 55% (50%) • EBITA 1.0 M€ (1.6 M€) • EBITA-% 5.0% (7.5%) Software and Embedded Solutions • The market situation remained difficult: few new product development projects were started, and projects were also postponed and canceled. • The market situation was reflected in the service area's result, and profitability remained at a low level. • As part of the change program, launched in the latter part of last year, the service area developed new AI - driven service offering during the first part of the year, and organizational restructuring was carried out during the first quarter. • EBITA -% for H1 was 2.8%. Profitability was negatively affected by non -recurring items, which amounted to EUR -0.7 million in January -June. Without the non - recurring items, the service area's profitability (EBITA, %) for January -June would have been 4.4%. 21.5 19.5 50% 55% 7.5% 5.0% 0 2 4 6 8 10 0 6 12 18 24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Revenue Revenue from Managed Services, % EBITA, % % Etteplan Q2/2026 Investor Presentation 20 M€
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18.4 17.7 86% 84% 4.6% 5.2% 0 2 4 6 8 10 0 4 8 12 16 20 24 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Revenue Revenue from Managed Services, % EBITA, % %M€ Q2 2026 • Revenue 17.7 M€ (18.4) -3.8% • Revenue from Managed Services 84% (86%) • EBITA 0.9 M€ (0.8 M€) • EBITA-% 5.2% (4.6%) Technical Communication and Data Solutions • The service area's revenue decreased slightly year - on-year, and profitability was at a modest level. The weak situation in the German automotive industry affected the development of the service area. • The service area continued the development of productized, AI -driven service solutions, and continued to win market share with the renewed offering. • EBITA -% for H1 was 4.8%. Profitability was negatively affected by non -recurring items, which amounted to EUR -0.4 million in January -June. Without the non - recurring items, the service area's profitability (EBITA, %) for January -June would have been 5.7%. Etteplan Q2/2026 Investor Presentation 21
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Etteplan’s strategy and financial guidance 2026
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Transformation withAI Etteplan strategy 2025-2027 Trusted partner AI and technology empowered service solutions Success with people We bring people and technology together to change things for the better Purpose Widening solution portfolio to boost customers’ sustainable growth and improve efficiency Targeting a leading position in industrial product companies and asset companies Growing in Europe and Asia Business Focus The best service solutions to boost customers’ sustainability, productivity and digital business Vision Etteplan Q2/2026 Investor Presentation 2 3
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Financial and strategic targets 2027 Revenue 35% of revenue from AI-driven service solutions 1-6/2026: 6% >10% Operating profit (EBITA) 1-6/2026: 5.1% 75% of revenue from Managed Services 1-6/2026: 66% >500M€ Rolling 12 months: 355 M€ Etteplan Q2/2026 Investor Presentation 24
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Financial guidance and market outlook 2026 FINANCIAL GUIDANCE (AUGUST 5, 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. MARKET OUTLOOK 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. Etteplan Q2/2026 Investor Presentation 25
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Q&A Etteplan Q2/2026 Investor Presentation
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-5 0 5 10 15 20 25 30 35 0 50 100 150 200 250 300 350 400 Revenue Operating profit (EBIT)M€ M€ Revenueand operating profit(EBIT) 2000-2026 *Includes continuing and discontinued operations **Rolling 12 months Etteplan Q2/2026 Investor Presentation 27
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Investor Relations contacts Outi Torniainen SVP, Marketing and Communications Tel. +358 10 307 3302 Helena Kukkonen CFO Tel. +358 10 307 2003 Juha Näkki CEO Tel. +358 10 307 2077 Etteplan Q2/2026 Investor Presentation
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We bring people and technology together to change things for the better.