Etteplan Q3 2026: A challenging quarter ended with signs of improving demand
Key Highlights
- ➤Q3 revenue EUR 78.4 million, down 4.6 percent year over year
- ➤Q3 EBIT EUR 3.5 million, down 13.0 percent year over year
- ➤2026 guidance lowered to EUR 355-365 million revenue and EUR 16.5-20 million EBIT
- ➤AI-driven service solutions reached 7 percent of Q3 revenue
- ➤Demand recovery signs emerged, but automotive remained very weak
Expert Statements
Juha Näkki, President and CEO of Etteplan
“Toward the end of the review period, the demand situation began to pick up, and production-related investments started to move forward for the first time in a long while.”
Juha Näkki, President and CEO of Etteplan
“However, the third quarter as a whole was challenging.”
Juha Näkki, President and CEO of Etteplan
“Demand showed signs of recovery in June, but the escalation of the crisis in the Middle East in July once again made our customers hold back on decisions, and the number of temporary layoffs in Finland, for example, started to increase.”
Juha Näkki, President and CEO of Etteplan
“More vacation was also taken than in the comparison period.”
Juha Näkki, President and CEO of Etteplan
“During the review period, our revenue and operating profit decreased, and we had to implement new efficiency improvement measures in our organization.”
Juha Näkki, President and CEO of Etteplan
“Among our customer industries, the defense industry and the energy industry continued to perform well, demand in the mining industry improved, and other industries also began to show slight signs of improvement toward the end of the review period.”
Juha Näkki, President and CEO of Etteplan
“Demand in the automotive industry remained very weak, which affected us in Sweden and Germany.”
Juha Näkki, President and CEO of Etteplan
“In China, the market situation remained better than in Europe.”
Juha Näkki, President and CEO of Etteplan
“During the review period, we continued to invest in the development of our service offering and the utilization of AI.”
Juha Näkki, President and CEO of Etteplan
“The share of our revenue derived from AI-driven service solutions grew to seven percent, and we are engaged in numerous discussions with our customers concerning the use of our solutions to improve the efficiency of their business and develop it further.”
Juha Näkki, President and CEO of Etteplan
“We expect the share of our revenue derived from AI-driven service solutions to continue increasing during the rest of the year.”
Juha Näkki, President and CEO of Etteplan
“As a result of the negative turn in the market situation during the review period, we had to lower our guidance.”
Juha Näkki, President and CEO of Etteplan
“However, toward the end of the review period, signs of recovery in demand were visible on a wider scale than previously, and we expect the market situation to improve in the fourth quarter.”
EtteplanETTEPLAN OYJ Interim Report October 29, 2026, at 9.00 a.m. (EET) Etteplan Q3 2026: A challenging quarter ended with signs of improving demand
Key points July-September 2026 * The Group’s revenue decreased by 4.6 percent and was EUR 78.4 million (7-9/2025: EUR 82.2 million). At comparable exchange rates, revenue decreased by 4.6 percent. * Operating profit (EBITA) decreased by 15.1 percent and was EUR 4.8 (5.6) million, or 6.1 (6.9) percent of revenue. * Operating profit (EBIT) decreased by 13.0 percent and was EUR 3.5 (4.1) million, or 4.5 (4.9) percent of revenue. * The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in July-September was EUR -0.5 (-0.2) million. * Operating cash flow was EUR -0.4 (3.2) million. * Basic earnings per share was EUR 0.09 (0.10). * The share of revenue derived from AI-driven service solutions developed by Etteplan was 7 percent during the quarter. * Etteplan issued a profit warning on September 16, 2026, and lowered its previous estimate of revenue and operating profit (EBIT) for 2026 due to slower-than-expected development of market demand and business operations. According to the new estimate, revenue is estimated to be EUR 355-365 million (2025: 361.4) and operating profit (EBIT) to be EUR 16.5-20 million (2025: 17.9). Key points January-September 2026 * The Group’s revenue decreased by 4 percent and was EUR 257.9 million (1-9/2025: EUR 268.5 million). At comparable exchange rates, revenue decreased by 4.4 percent. * Operating profit (EBITA) decreased by 20.0 percent and was EUR 13.9 (17.4) million, or 5.4 (6.5) percent of revenue. * Operating profit (EBIT) decreased by 21.5 percent and was EUR 9.9 (12.6) million, or 3.8 (4.7) percent of revenue. * The combined effect of non-recurring items on operating profit (EBITA) and operating profit (EBIT) in January-September was EUR -1.5 (-2.5) million. * Operating cash flow was EUR 7.4 (15.2) million. * Basic earnings per share was EUR 0.23 (0.29). * The share of revenue derived from AI-driven service solutions developed by Etteplan was 7 (5) percent during January-September. 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.
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