Tietoevry Oyj

TIETO

Equity

ISIN FI0009000277 / Valor 472478

NASDAQ Helsinki Ltd, Equities (2024-11-21)

EUR 16.63+0.48%

Tietoevry Oyj
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About company

Tietoevry Oyj is a prominent technology firm with deep roots in the Nordic region, boasting a comprehensive global reach. The company is recognized for its expertise in cloud, data, and software solutions, employing around 24,000 professionals worldwide. Tietoevry caters to a diverse clientele, including thousands of enterprises and public-sector organizations across more than 90 countries. With an annual turnover of approximately EUR 3 billion, the company's financial performance underscores its significant role in the technology sector. Tietoevry is publicly traded, with its shares listed on the NASDAQ exchanges in Helsinki and Stockholm, as well as on the Oslo Børs. The firm prides itself on its core values of openness, trust, and diversity, aiming to drive digital innovation that benefits businesses, societies, and humanity at large.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the second quarter of 2024, Tietoevry Oyj reported a revenue of EUR 715 million, reflecting an organic growth of 1% compared to the same period in 2023. This growth was primarily driven by the company's software businesses, particularly Tietoevry Banking and Tietoevry Industry, which posted a healthy growth of 5%.

Profitability Improvement

Tietoevry Oyj's adjusted operating profit (EBITA) for Q2 2024 was EUR 78.3 million, resulting in an improved operating margin of 11.0%. This increase in profitability was supported by ongoing efficiency measures, with significant contributions from Tietoevry Tech Services and Tietoevry Industry.

Order Intake

The company achieved a strong order intake in the second quarter of 2024, with a book-to-bill ratio of 1.3. This indicates that Tietoevry Oyj secured more orders than it billed during the quarter, reflecting robust customer demand and successful contract wins.

Full-Year Outlook

Tietoevry Oyj has maintained its full-year outlook for 2024, expecting organic growth in the range of 0–3%. The company also estimates its full-year adjusted operating margin (adjusted EBITA) to be between 12.0% and 13.0%, consistent with its performance in 2023.

Strategic Review

The strategic review of Tietoevry Tech Services is progressing, with an active sales process ongoing. This review is part of Tietoevry Oyj's multi-year strategic transformation aimed at repositioning the company as a leading software and digital engineering firm.

Summarized from source with an LLMView Source

Key figures

-19.7%1Y

-37.2%3Y

-35.3%5Y

Performance

23.8%1Y

24.0%3Y

25.3%5Y

Volatility