TietoEVRY Oyj

Tietoevry Corporation announced a change in its shareholding as Silchester International Investors LLP increased its holding to 17,845,007 shares, representing 15.04% of the total shares. Silchester acts as an investment manager for various funds and has full discretion over investments and voting rights. One of these funds, the Silchester International Investors International Value Equity Trust, holds 6.8% of the shares. The threshold was crossed on November 21, 2024. Tietoevry Corporation, a technology company with a strong Nordic presence, serves customers globally in cloud, data, and software, with an annual turnover of approximately EUR 3 billion. Its shares are listed on NASDAQ Helsinki, NASDAQ Stockholm, and Oslo Børs.

Tietoevry Corporation released its interim report for the third quarter of 2024, noting a slight decline in revenue to EUR 655 million from EUR 659.7 million in the same period of 2023. Organic growth was negative, with a decrease of 1% compared to a 2% increase the previous year. The operating profit was EUR 63.5 million, up from EUR 61.6 million, with an operating margin of 9.7%. The adjusted operating profit was EUR 88.4 million, and the adjusted operating margin improved to 13.5%. Earnings per share fell to EUR 0.32 from EUR 0.37. Cash flow from operating activities increased significantly to EUR 58.2 million from a negative EUR 2 million. The company updated its full-year outlook for 2024, expecting organic growth to be around -2% and an adjusted operating margin between 12.3% and 12.7%. This is a revision from the previous expectation of 0-3% organic growth. CEO Kimmo Alkio commented on the softer IT market sentiment and the company's focus on profitability and cost management. Tietoevry's software businesses showed growth, while its digital engineering and tech services faced challenges. The company is pursuing strategic transformation and innovation, particularly in AI, while maintaining a commitment to responsible technology development. Financial performance by segment showed mixed results, with Tietoevry Banking, Care, and Industry experiencing growth, while Tietoevry Create and Tech Services saw declines. The company continues to focus on efficiency and growth opportunities despite a challenging market environment.

Tietoevry Corporation announced its schedule for financial releases and meetings. The interim report for the fourth quarter and full year of 2024 will be published on February 14, 2025, with the Annual Report, including Financial Statements and other reports, released on March 4, 2025. The Annual General Meeting is set for March 25, 2025. In 2025, Tietoevry plans to release three interim reports on April 29, July 22, and October 23. Tietoevry is a leading technology company with a Nordic heritage, employing 24,000 experts globally and serving customers in about 90 countries. The company is listed on NASDAQ exchanges in Helsinki and Stockholm, and on Oslo Børs, with an annual turnover of approximately EUR 3 billion. For more information, contact Tommi Järvenpää, Head of Investor Relations.

Tietoevry Corporation reported a decline in organic growth of -1% in the third quarter due to a soft IT market, with expectations of continued weak market conditions for the rest of 2024. This primarily affects Tietoevry Create and Tietoevry Tech Services, with some impact on Tietoevry Care and Tietoevry Industry. Consequently, the company has revised its 2024 revenue growth outlook to approximately -2%, down from the previous range of 0-3%. The financial impact from customer settlements related to a ransomware event is expected to be recorded in the fourth quarter, affecting growth. Despite these challenges, Tietoevry's third-quarter profitability improved to 13.5% from 13.0% the previous year, due to cost management measures. The company has updated its profitability outlook for 2024, now expecting an adjusted operating profit margin of 12.3-12.7%, within its original guidance range. Tietoevry will release its third-quarter interim report on October 24, 2024.

Tietoevry Corporation announced that starting from 20 September 2024, its shares will be traded without the right to the second dividend instalment of EUR 0.735 per share, following the decision made at the Annual General Meeting on 13 March 2024 to distribute a total dividend of EUR 1.47 per share in two instalments. This disclosure complies with Section 5-12 of the Norwegian Securities Trading Act. For further information, Tommi Järvenpää, Head of Investor Relations, can be contacted. Tietoevry is a technology company with a strong Nordic heritage, employing 24,000 experts globally and generating an annual turnover of approximately EUR 3 billion. The company's shares are listed on Nasdaq Helsinki, Nasdaq Stockholm, and Oslo Børs.