Key points July-September 2020
· The Group's revenue decreased by 10.3 per cent and was
· Operating profit (EBITA) amounted to
· Operating profit (EBIT) was
· Operating cash flow was
· Basic earnings per share were
·
Key points January-September 2020
· The Group's revenue decreased by 1.1 per cent and was
· Operating profit (EBITA) amounted to
· Operating profit (EBIT) was
· Operating cash flow was
· Basic earnings per share were
·
Key figures
Revenue 55,221 61,539 189,408 191,493 263,292
Operating 5,222 6,586 18,087 19,493 25,964
profit (EBITA)
EBITA, % 9.5 10.7 9.5 10.2 9.9
Operating 4,274 5,693 15,289 17,265 22,819
profit (EBIT)
EBIT, % 7.7 9.3 8.1 9.0 8.7
Basic earnings 0.13 0.19 0.46 0.54 0.70
per share, EUR
Equity ratio, % 40.1 39.4 40.1 39.4 38.9
Operating cash 206 1,142 20,485 15,359 32,884
flow
ROCE, % 12.6 20.1 14.9 20.3 19.9
Personnel at 3,291 3,440 3,291 3,440 3,447
end of the
period
President and CEO
Our customers' orders received and their order backlogs have declined as a result of the COVID-19 pandemic, which weakened demand in the third quarter. The start of the second wave of the pandemic also increased uncertainty in the markets, which was reflected in a slow start to projects and new investments, especially after the summer holidays. In this uncertain demand situation, we continued to implement the defensive approach that we were forced to adopt in the second quarter. This approach was again successful and our profitability was excellent for a third quarter considering the circumstances, in spite of a decrease in revenue.
In the prevailing market situation, we have had to slow down the execution of our strategy, but good defense of our market position and strong profitability also enabled investments in growth. We completed the acquisition of Tegema in
As the final quarter of the year began, our operating environment varied from one country to the next. The Chinese market was active and there were small signs of a recovery in the Central European and Swedish markets, but demand in
Nevertheless, during the year we have proven our ability to adapt to changes in demand, even in a difficult market situation, and we believe that the good profitability will continue, which is why we specified our financial guidance for 2020.
We were also able to continue investments in future growth and consequently, I believe that
Market outlook 2020 (updated on
The global COVID-19 pandemic has a significant impact on the global economy and market situation and it increases uncertainty in the market. The most important factor affecting
Financial guidance 2020 (updated on
Revenue for 2020 will decrease slightly or be at the same level as in the previous year, while operating profit (EBIT) will decrease clearly compared to 2019.
Previous financial guidance 2020 (updated on
Revenue for the full year 2020 will decrease slightly or be at the same level as in the previous year, operating profit (EBIT) will decrease compared to 2019.
Disclosure procedure
This
Conference call and live webcast today,
To participate in the conference call please dial 5-10 minutes prior to the start of the conference to +358 (0)9 8171 0310 and insert the conference PIN code 56143321#. Questions can be asked in Finnish and in English after President and CEO's presentation only through conference call connection.
Juha Näkki's presentation can be followed as a live webcast on https://etteplan.videosync.fi/2020-q3-results. The webcast starts at
Espoo,
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
The information presented herein has not been audited.
Releases and other corporate information are available on
DISTRIBUTION:
Nasdaq
Major media
www.etteplan.com
In 2019,
https://news.cision.com/etteplan/r/etteplan-q3-2020--good-defense-produced-results,c3227785
https://mb.cision.com/Main/11766/3227785/1327794.pdf
(c) 2020 Cision. All rights reserved., source