CEO and Management group Back to Corporate governance M. Sc. (Eng) Juha Näkki has been the Company’s President and CEO from the beginning of 2012. The CEO is responsible for managing the Group’s day-to-day operations in accordance with the rules and instructions issued by the Board of Directors. The CEO may take measures that are unusual and far-reaching with regard to the scope and nature of the Company’s operations, but only with authorization from the Board of Directors. The CEO is responsible for ensuring that the Company’s accounting complies with the applicable legislation and that its asset management is arranged in a reliable manner. The CEO attends the Board meetings, but he is not a member of the Board of Directors. The CEO also participates in the work of Board Committees. The parent Company’s CEO, furthermore, acts as the Group’s Chief Executive Officer.A written CEO agreement, which has been approved by the Board, has been drawn up for the CEO. The Board of Directors appoints the CEO and terminates his or her employment, as well as monitors the CEO’s activities. Further information on the remuneration of the CEO in the financial year 2022 is available in the separate Remuneration Report for Governing Bodies 2022 published by the Company. The Remuneration Report for Governing Bodies will be presented annually to the Annual General Meeting. Management Group The CEO appoints members to the Management Group who are appropriate from the standpoint of line operations. The Management Group assists the CEO and also develops and monitors all matters entrusted to the Company’s management, including those connected with the Group and business unit strategies, acquisitions, and major capital expenditures, divestments, the Company’s image, monthly reporting, interim and half year financial reports and financial statements, corporate responsibility, investor relations, and the main principles of the human resource policy. The Board of Directors approves the appointment of the Management Group members. The members of the Management Group report to the President and CEO. In the financial year 2022 the Management Group of Etteplan Oyj consisted of the following members: Juha Näkki (b. 1973), President and CEO, 110,848 shares Per-Anders Gådin (b.1965), SVP, M&A and Business Development, 8,633 shares Petri Ikonen (b. 1964), Senior Vice President, Solutions & Technologies, 3,748 shares Helena Kukkonen (b. 1972), Chief Financial Office, 1,000 shares Jukka Lahtinen (b. 1963), Senior Vice President, Global Sales, 3,140 shares Veikko Lamminen (b. 1960), Senior Vice President, Operational Excellence, 8,975 shares Tero Leppänen (b. 1974), Senior Vice President, Software and Embedded Solutions, no ownership Riku Riikonen (b. 1977), Senior Vice President, Engineering Solutions, 11,497 shares Outi Torniainen (b. 1965), Senior Vice President, Marketing and Communications, 5,014 shares Minna Tornikoski (b. 1970), Senior Vice President, HR, no ownership Mikael Vatn (s. 1967), Senior Vice President, Technical Documentation Solutions, 7,574 shares The ownerships are listed as per December 31, 2022 and include shares possibly owned by controlled entities. Our Management E-mail addresses firstname.lastname(at)etteplan.com Juha Näkki - President and CEO Per-Anders Gådin - Senior Vice President, M&A and Business Development Petri Ikonen - Senior Vice President, Solutions and Technologies Helena Kukkonen - CFO Jukka Lahtinen - Senior Vice President, Global Sales Veikko Lamminen - Senior Vice President, Operational Excellence Tero Leppänen - Senior Vice President, Software and Embedded Solutions Riku Riikonen - Senior Vice President, Engineering Solutions Outi Torniainen - Senior Vice President, Marketing and Communications Minna Tornikoski - Senior Vice President, Human Resources Mikael Vatn - Senior Vice President, Technical Communication Solutions Juha Näkki b. 1973, President and CEO, M.Sc. (Eng.) Chairman of the Management Group since 2012, Management Group member since 2008 President and CEO of Etteplan Oyj since 2012 Vice President of Etteplan Oyj 2005-2011, Marine Business Manager of KONE Corporation 2004-2005, Sales Manager of Evac Oy 2002-2004 Main positions of trust: Member of the Board, Technology Industry Employers of Finland, 2021- Member of the Board, Merima Oy, 2021- Per-Anders Gådin b. 1965, Senior Vice President, M&A and Business Development, M.Sc (EP), BBA Management Group member since 2009 Senior Vice President, Mergers & Acquisitions and Business Development of Etteplan Oyj since 2021 CFO, Senior Vice President of Etteplan Oyj 2009-2021 CFO of Etteplan Industry AB 2002-2008, Manager of Etteplan Industry AB 1999-2002 Main positions of trust: none Petri Ikonen b. 1964, Senior Vice President, Solutions and Technologies, B.Sc. (Eng.) Management Group member since 2015 Senior Vice President, Technical Documentation of Etteplan Oyj 2015-2018 Vice President, Technical Product Information of Etteplan Oyj 2012-2014, General Manager of Etteplan Oyj 2010-2011, Managing Director, Sigma Kudos Finland Oy 2008-2009, Quality Manager, Sigma Kudos Finland Oy 2005-2008 Main positions of trust: Member of the Board, Ekkono Solutions AB, 2022- Helena Kukkonen b. 1972, CFO, M.Sc. (Economics and Business Administration) CFO of Etteplan Oyj since 2021 Management Group member since 2021 Chief Financial Officer, Oriola, 2018-2021, Chief Financial Officer, SSH Communications Security, 2016-2018, Director, Finance & Control Microsoft, 2014-2016, Director, Finance & Control, Nokia, 2009-2014, several senior finance positions within Nokia Finance and Control, 2001-2009 Main positions of trust: none Jukka Lahtinen b. 1963, Senior Vice President, Global Sales, B.Sc. (Eng.) Management Group member since 2019 Senior Vice President of Etteplan Oyj since 2019 Vice President, Sales, Operations Finland of Etteplan Oyj 2016-2018, Sales Director Finland of Etteplan Oyj 2014-2016, Business Unit Director of Etteplan Oyj 2009-2014, Regional Manager of Etteplan Oyj, 2003-2008, Product factory and business line manager of Nextrom Oy, 1999-2002 Main positions of trust: none Veikko Lamminen b. 1960, Senior Vice President, Operational Excellence, B.Sc. (Eng.) Management Group member since 2012 Senior Vice President, Operations Finland of Etteplan Oyj 2012-2018 Business Unit Director of Etteplan Oyj 2009-2012, Regional Manager of Etteplan Oyj 2005-2008, Manager, Project Operations & IT of Cimcorp Oy 2003-2005 Main positions of trust: none Tero Leppänen b. 1974, Senior Vice President, Software and Embedded Solutions, M.Sc. (Computer Science) and B.Sc. (Electronics and Information Technology) Management Group member since 2022 Vice President, Testing and Product Verification, Etteplan, 2021 Business Unit Director, Software and Embedded Solutions, Etteplan, 2017-2020 Business Unit Director, Test Systems, Etteplan/Espotel, 2013-2017 Key Account Manager, Espotel, 2011-2012 Product Development Manager, Data Modem Development, Espotel/Nokia (external), 2009-2011 Business Development Manager, Espotel, 2006-2009 Project Manager, Espotel, 2002-2005 Software Designer, Efore, 1997-2002 Main positions of trust: none Riku Riikonen b. 1977, Senior Vice President, Engineering Solutions, M.Sc. (Eng.) Management Group member since 2015 Senior Vice President, Engineering Services of Etteplan Oyj 2015-2018 Vice President and General Manager of Etteplan China 2014, Vice President for Sales and Key Account Management of Etteplan Oyj 2012-2013, Sales Director of Etteplan Oyj 2010-2012, Territory Sales Executive of SAP 2008-2010 Main positions of trust: none Outi Torniainen b. 1965, Senior Vice President, Marketing and Communications, B.Sc (Communications) Management Group Member since 2016 Senior Vice President, Marketing and Communications since 2016; Senior Vice President, Communications and Marketing, Member of management team, Finpro 2009-2016; Director, Communications and Marketing, Member of management team, Elektrobit Oyj, 2008-2009; Vice President, Marketing and Communications, Member of management team, Stonesoft Oyj, 2005-2008; Senior Consultant, Pohjoisranta Burson Marsteller, 2003-2005; Marketing and Communication Director, Nixu Oy, 2000-2003 Main positions of trust: Chairman of the Board, Järvi-Suomen Sijoitus Oy, 2015- Minna Tornikoski b. 1970, Senior Vice President, Human Resources, M.Sc. (Industrial Engineering & Management) Management Group member since 2019 Director, Human Resources, Huhtamäki Flexible Packaging, 2016-2019; Vice President, Leadership and Talent Development, Tieto, 2012-2016; Portfolio Director, HR corporate services, Pohjola Bank, 2010-2012; Director, Consulting Services, HR4 Solutions, 2008-2010; Several senior HR positions, Nokia, 2001-2008 Main positions of trust: none Mikael Vatn b. 1967, Senior Vice President, Technical Communication Solutions, B.Sc. (Eng.), MBA Management Group member since 2012 Senior Vice President, Operations Central and Western Europe of Etteplan Oyj 2012-2018 General Manager of Etteplan Oyj’s Swedish operations 2011-2012, CEO of Securitas Direct Sverige AB 2009-2010, CEO and Business Unit Manager of EnergoRetea 1998-2008 Main positions of trust: none Reasons to invest in us See more Key financial data See more 5 year history Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of cash flows 5 year history Back to Key financial data EUR 1,000, Financial period Jan 1 – Dec 31 2022 2021 2020 2019 2018 Revenue 350,170 300,111 259,702 263,292 236,477 Change in revenue, % 16.7 15.6 -1.4 11.3 10.1 Operating profit (EBITA) 33,915 30,139 26,172 25,964 22,555 % of revenue 9.7 10.0 10.1 9.9 9.5 Operating profit (EBIT) 28,622 25,754 22,380 22,819 20,184 % of revenue 8.2 8.6 8.6 8.7 8.5 Profit before taxes 22,386 24,867 21,080 21,924 19,396 % of revenue 6.4 8.3 8.1 8.3 8.2 Profit for the financial year 18,151 20,044 17,077 17,387 15,280 Return on equity, % 17.7 21.6 20.8 24.1 24.4 ROCE, % 15.9 16.0 16.0 19.9 21.3 Equity ratio, % 38.2 39.7 40.5 38.9 42.9 Gross investments 40,940 30,582 29,697 36,908 16,527 % of revenue 11.7 10.2 11.4 14.0 7.0 Net gearing, % 66.8 48.6 46.6 52.6 29.8 Personnel, average 3,945 3,480 3,320 3,305 2,995 Personnel at year end 3,951 3,629 3,267 3,447 3,055 Employee benefits expenses 227,823 197,596 177,301 172,520 156,183 Back to Key financial data Read more Consolidated statement of comprehensive income Back to Key financial data EUR 1,000 Jan 1 - Dec 31, 2022 Jan 1 - Dec 31, 2021 Revenue 350,170 300,111 Other operating income 2,826 1,289 Materials and services -40,395 -31,685 Employee benefits expenses -227,823 -197,596 Other operating expenses -36,140 -28,527 Depreciation and amortization -20,018 -17,839 Operating profit (EBIT) 28,622 11.1% 25,754 8,6% Financial income 1,044 593 Financial expenses -7,280 -1,480 Profit before taxes 22,386 24,867 Income taxes -4,235 -4,823 Profit for the financial year 18,151 20,044 Other comprehensive income, that may be reclassified to profit or loss Currency translation differences -4,229 -589 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 -31 32 Other comprehensive income for the year, net of tax -2,900 -557 Total comprehensive income for the year 15,251 19,487 Profit for the financial year attributable to Equity holders of the parent company 18,151 20,044 Total comprehensive income attributable to Equity holders of the parent company 15,251 19,487 Earnings per share calculated from the profit attributable to equity holders of the parent company Basic earnings per share, EUR 0.73 0.80 Diluted earnings per share, EUR 0.73 0.80 The notes are an integral part of the Financial Statements. Back to Key financial data Read more Consolidated statement of financial position Back to Key financial data EUR 1,000 Dec 31, 2022 Dec 31, 2021 ASSETS Non-current assets Goodwill 105,385 92,380 Other intangible assets 32,745 28,807 Tangible assets 24,808 24,759 Investments at fair value through other comprehensive income 2,414 418 Other non-current receivables 1,016 54 Deferred tax assets 622 731 Non-current assets, total 166,990 147,150 Current assets Inventory 635 376 Work in progress 30,181 26,810 Trade and other receivables 62,405 47,988 Current tax assets 1,364 273 Cash and cash equivalents 19,564 30,356 Current assets, total 114,149 105,803 TOTAL ASSETS 281,138 252,953 EQUITY AND LIABILITIES Equity Share capital 5,000 5,000 Share premium account 6,701 6,701 Unrestricted equity fund 23,966 22,037 Own shares -1,059 -1,245 Cumulative translation adjustment -7,702 -3,473 Other reserves 103 133 Retained earnings 79,302 69,761 Equity, total 106,311 98,914 Non-current liabilities Deferred tax liabilities 9,758 7,408 Loans from financial institutions 47,852 30,350 Lease liabilities 8,478 8,777 Other non-current liabilities 33 827 Non-current liabilities, total 71,018 47,362 Current liabilities Loans from financial institutions 21,139 25,453 Lease liabilities 13,114 13,894 Advances received 2,856 3,891 Trade and other payables 63,532 61,673 Current income tax liabilities 3,168 1,766 Current liabilities, total 103,809 106,677 Liabilities, total 174,828 154,039 TOTAL EQUITY AND LIABILITIES 281,138 252,953 The notes are an integral part of the financial statements. Back to Key financial data Read more Consolidated statement of cash flows Back to Key financial data EUR 1,000 Jan 1 - Dec 31, 2022 Jan 1 - Dec 31, 2021 OPERATING CASH FLOW Cash receipts from customers 341,201 287,564 Operating expenses paid -306,220 -253,056 Operating cash flow before financial items and taxes 34,981 34,508 Interest and payment paid for financial expenses -1,721 -1,289 Interest received 113 80 Income taxes paid -5,277 -6,205 Operating cash flow (A) 28,095 27,093 INVESTING CASH FLOW Purchase of tangible and intangible assets -1,711 -2,157 Acquisition of subsidiaries, net of cash acquired -20,871 -14,255 Proceeds from sale of tangible and intangible assets 52 17 Proceeds from repayment of loans 0 73 Investing cash flow (B) -25,526 -16,321 Cash flow after investments (A+B) 2,570 10,772 FINANCING CASH FLOW Proceeds from directed share issue 0 1,936 Purchase of own shares 0 -1,382 Issue of new current loans 13,144 6,941 Repayments of current loans -32,534 -30,060 Issue of new non-current loans 27,999 37,503 Repayments of non-current loans -16 -6 Payment of lease liabilities -12,657 -11,478 Dividend paid -9,970 -8,461 Financing cash flow (C) -14,034 -5,007 Variation in cash (A+B+C) increase (+) / decrease (-) -11,464 5,765 Assets at the beginning of the financial period 30,356 24,407 Exchange gains or losses on cash and cash equivalents 672 184 Assets at the end of the financial period 19,564 30,356 The notes are an integral part of the Financial Statements. Back to Key financial data Read more Reports & presentations Browse reports and presentations Investor calendar Read more Share information See more Share information Share monitor Investment calculator Historical share prices Dividend and payment history Major shareholders Flaggings Etteplan Oyj's rights issue 2016 Share information Read more Share monitor Read more Investment calculator Read more Historical share prices Read more Dividend and payment history Read more Major shareholders Read more Flaggings Read more Etteplan Oyj's rights issue 2016 Read more Corporate governance See more General meeting Articles of association Board of Directors Nomination and Remuneration Committee Audit Committee Remuneration Risk management Insider management Transactions of managers Audit Communications General meeting Read more Articles of association Read more Board of Directors Read more Nomination and Remuneration Committee Read more Audit Committee The Board of Directors of Etteplan Oyj has appointed an Audit Committee among the Directors. The Board has confirmed the central duties and operating principles of the committee in a written charter. The Audit Committee reports regularly on its work to the Board. Read more Remuneration Read more Risk management Read more Insider management Read more Transactions of managers Read more Audit Read more Communications Read more Investor contacts & analyst coverage see more
