TietoEVRY Corp
F:TTEB
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TietoEVRY Corp
In the bustling realm of technology and digital transformation, TietoEVRY Corp. stands as a stalwart entity, intricately woven into the economic fabric of Northern Europe. Born from the merger of Tieto Corporation and EVRY ASA in 2019, this Helsinki-based company leverages over half a century of experience to drive innovation across various sectors. Its services span a broad spectrum ranging from cloud and infrastructure solutions to consulting and software development. The company adeptly caters to an array of industries, including healthcare, financial services, and the public sector, providing tailored solutions that enhance operational efficiencies and enable digital transformation for its clients.
At the heart of TietoEVRY's business model is its customer-centric approach—melding deep industry expertise with advanced technological capabilities. By offering a diverse portfolio of IT services and products, TietoEVRY capitalizes on the increasing demand for digital solutions. The company's revenue streams are predominantly anchored in long-term service agreements and project-based engagements, allowing it to cultivate lasting relationships with its clients while ensuring a steady flow of income. Simultaneously, its focus on innovation and sustainability not only enhances its competitive positioning but also aligns with broader societal shifts towards digital ecosystems. Through strategic investments and a commitment to delivering tangible business outcomes, TietoEVRY continues to play a pivotal role in enabling digital maturity across diverse sectors.
In the bustling realm of technology and digital transformation, TietoEVRY Corp. stands as a stalwart entity, intricately woven into the economic fabric of Northern Europe. Born from the merger of Tieto Corporation and EVRY ASA in 2019, this Helsinki-based company leverages over half a century of experience to drive innovation across various sectors. Its services span a broad spectrum ranging from cloud and infrastructure solutions to consulting and software development. The company adeptly caters to an array of industries, including healthcare, financial services, and the public sector, providing tailored solutions that enhance operational efficiencies and enable digital transformation for its clients.
At the heart of TietoEVRY's business model is its customer-centric approach—melding deep industry expertise with advanced technological capabilities. By offering a diverse portfolio of IT services and products, TietoEVRY capitalizes on the increasing demand for digital solutions. The company's revenue streams are predominantly anchored in long-term service agreements and project-based engagements, allowing it to cultivate lasting relationships with its clients while ensuring a steady flow of income. Simultaneously, its focus on innovation and sustainability not only enhances its competitive positioning but also aligns with broader societal shifts towards digital ecosystems. Through strategic investments and a commitment to delivering tangible business outcomes, TietoEVRY continues to play a pivotal role in enabling digital maturity across diverse sectors.
Profitability: All business units improved profitability in Q3, driven by successful cost optimization measures and the Tech Services divestment.
Revenue & Growth: Reported 4% top-line growth, but underlying organic growth was slightly negative due to weak market conditions.
Margins: Group margin reached 19.3%, with underlying margin at 15.2% after adjusting for a positive court ruling in Banking.
Order Backlog: Order backlog grew strongly, especially in Industry and Banking, up 11% organically year-over-year, but most revenue impact will come in 2027 and beyond.
Cost Program: EUR 75 million of the targeted EUR 115 million cost savings already achieved; workforce reduced by 1,500 FTEs year-over-year.
Guidance: Tracking towards the higher end of profit guidance for the year, but market uncertainty and weak demand in some areas remain.
Tech Services Divestment: Completed, resulting in EUR 223 million consideration and net debt reduction to EUR 552 million.
AI Initiatives: AI adoption is underway, with some productivity improvements already visible but limited immediate market impact.