Demand for technical design and product information services has further declined during the second quarter of 2009. The weakened market situation effects mainly Etteplan’s operations in Sweden. In the end of 2008 and beginning of 2009 Etteplan has signed a significant number of technical design and product information framework agreements with global companies in Sweden. These customers have postponed the realization of assignments during the second quarter of 2009.
In Sweden Etteplan continues with the operation adjustments that commenced during the first quarter of 2009 as well as with the new adjustments that commenced during the second quarter of 2009. In addition to the previously reported personnel reductions and reorganisation of business, the new adjustments include further personnel reductions, cutting fixed costs and reorganising business. The new personnel reductions affect approximately 200
employees in Sweden and will be carried out as permanent lay offs.
The adjustments will lower fixed costs, improve cost flexibility of Etteplan’s Sweden operations and utilize effectively whole group’s design capacity. Adjustments, that have now commenced, will be fully executed during the second half of year 2009.
In 2009 the cost of the adjustments is approximately EUR 6 million. Etteplan Oyj’s full-year revenue is expected to be under EUR 120 million and operating profit to show a loss due to non-recurring items caused by operation adjustments.
Etteplan publishes its January-June 2009 interim report on 12 August 2009.