Etteplan Board Chair Robert Ingman has made the company’s largest managerial share purchase in more than a year shortly after the engineering services group reported weakening profitability and a falling share price.
Two managers’ transactions published on May 11 show Ingman buying a combined 55,000 Etteplan shares on May 8 at €7.19 per share.
The larger purchase came through closely associated entity Ingman Group Oy Ab, which acquired 50,000 shares worth roughly €359,500. Ingman also directly purchased 5,000 shares worth about €36,000. Combined, the transactions totaled around €395,000.
The insider purchases suggest Ingman is willing to increase exposure while sentiment around the stock remains weak. At roughly €395,000, the May purchases are the company’s largest insider acquisition since February 2025, when Ingman Group Oy Ab acquired 90,000 shares at €10.625 per share in a transaction worth roughly €956,000.
The purchases substantially increase Ingman’s direct disclosed ownership in Etteplan. Management ownership data dated April 30 showed Robert Ingman holding 65,000 shares, equivalent to 0.26 percent of shares and votes, only second to CEO Juha Näkki.
Buying into weakness
The timing is notable. Etteplan shares are down roughly 16 percent year to date and traded at €7.80 this afternoon, close to the company’s 52-week low of €7.02.
One day before Ingman poured into the shares, Etteplan reported that its first-quarter revenue fell 4.6 percent year over year to €90.5 million, while EBITA declined 36.1 percent to €3.7 million. EBIT margin slipped to 2.4 percent from 4.4 percent a year earlier.
CEO Juha Näkki described market conditions as “very difficult,” citing geopolitical tensions, delayed customer decisions, and postponed industrial projects across most customer industries outside defense and energy.
Despite the slowdown, Etteplan continued investing in AI-related services. The company said the share of revenue derived from AI driven solutions rose to 6 percent in the quarter, up from 2 percent a year earlier.
Etteplan maintained its 2026 revenue guidance of €360 million to €380 million but narrowed its EBIT guidance to €19 million to €23 million, from the previous €19 million to €25 million range.
