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Finland's Etteplan Q3 revenue and profit slip on weak demand

By Reuters News


Overview

  • Finland technology services firm's Q3 revenue fell 4.6% yr/yr amid challenging market conditions

  • Q3 operating profit and EBITA declined on weaker demand and non-recurring items

  • Company lowered 2026 revenue and EBIT guidance in September due to slower market development


Outlook

  • Etteplan now sees 2026 revenue at EUR 355-365 mln

  • Company expects 2026 operating profit (EBIT) of EUR 16.5-20 mln

  • Etteplan expects market conditions to improve in Q4, but uncertainty remains high


Result Drivers

  • WEAK DEMAND - Co said demand remained subdued for most of Q3, with customers delaying decisions due to geopolitical tensions and increased temporary layoffs in Finland

  • INDUSTRY VARIATION - Defense and energy industries performed well, mining improved, but automotive demand stayed weak, affecting results in Sweden and Germany

  • EFFICIENCY MEASURES - Co implemented new efficiency improvement actions during Q3 in response to declining revenue and operating profit


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 78.43 mln

Q3 EBIT

EUR 3.53 mln

Q3 EBITA

EUR 4.78 mln

Q3 EBIT Margin

4.50%

Q3 ROCE

7.00%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the business support services peer group is "buy"

  • Wall Street's median 12-month price target for Etteplan Oyj is €8.50, about 18.1% above its October 28 closing price of €7.20

  • The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago


Reuters Recommended Reads

  • Oct 27 - Finland's TietoEVRY Q3 revenue falls on soft demand

  • Oct 28 - France's Dassault Systèmes Q3 revenue rises 5%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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