Financial outlook

Outlook published on 23 July

Full-year outlook for 2024 unchanged

Tietoevry expects its organic¹⁾ growth to be in the range of 0–3% (revenue in 2023: EUR 2 851.4 million).

The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³⁾) to be 12.0–13.0% (12.6% in 2023).

1) Adjusted for currency effects, acquisitions and divestments

2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability

3) Profit before interests, taxes and amortization of acquisition-related intangible assets

4) Company estimate

Outlook published on 25 April

Tietoevry expects its organic¹⁾ growth to be in the range of 0–3% (revenue in 2023: EUR 2 851.4 million).

The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³) to be 12.0–13.0% (12.6% in 2023)

1) Adjusted for currency effects, acquisitions and divestments
2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability
3) Profit before interests, taxes and amortization of acquisition-related intangible assets
4) Company estimate

Outlook published on 15 February

Tietoevry expects its organic¹⁾ growth to be in the range of 0–3% (revenue in 2023: EUR 2 851.4 million).

The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³) to be 12.0–13.0% (12.6% in 2023)

1) Adjusted for currency effects, acquisitions and divestments

2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability

3) Profit before interests, taxes and amortization of acquisition-related intangible assets

Outlook published on 26 October

Tietoevry expects its organic¹⁾ growth to be approximately 4% (revenue in 2022: EUR 2 928.1 million).

The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³) to be 12.6–13.0% (13.0% in 2022)

1) Adjusted for currency effects, acquisitions and divestments

2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability

3) Profit before interests, taxes and amortization of acquisition-related intangible assets

Outlook published on 19 September

Tietoevry expects its organic¹⁾ growth to be approximately 4% (revenue in 2022: EUR 2 928.1 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³) to be 12.6-13.0%. (13.0% in 2022).

1) Adjusted for currency effects, acquisitions and divestments.

2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

3) Profit before interests, taxes and amortization of acquisition-related intangible assets

Outlook published on 21 July

Tietoevry expects its organic¹⁾ growth to be 5% to 7% (revenue in 2022: EUR 2 928.1 million).
The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³) to be 13.0–13.5% (13.0% in 2022)

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and
other items affecting comparability
⁴⁾ Profit before interests, taxes and amortization of acquisition-related intangible assets
⁵⁾ Adjusted for the impact of exchange rates and divestments
⁶⁾ The amount to be invoiced in the remaining part of 2023, adjusted for the impact of exchange
rates and divestments.

Outlook published on 4 May

Tietoevry expects its organic¹⁾ growth to be 5% to 7% (revenue in 2022: EUR 2 928.1 million).
The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.0–13.5% (13.0% in 2022).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and
other items affecting comparability.

Outlook published on 17 February 

Tietoevry expects its organic¹⁾ growth to be 5% to 7% (revenue in 2022: EUR 2 928.1 million).
The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.0–13.5% (13.0% in 2022).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and
other items affecting comparability.

Outlook published on 27 October 2022

Tietoevry expects its organic¹⁾ growth to be 5% to 6% (revenue in 2021: EUR 2 823.4 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 12.8-13.1% (13.0% in 2021).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Outlook published on 20 October 2022

Revised outlook for 2022:
Tietoevry expects its organic¹⁾ growth to be 5% to 6% (revenue in 2021: EUR 2 823.4 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 12.8-13.1% (13.0% in 2021).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Outlook published on 22 July 2022

Tietoevry expects its oorganic¹⁾ growth to be 3% to 5% (revenue in 2021: EUR 2 823.4 million). Previously, the company estimated its growth to be 2% to 4%. The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.1–13.6% (13.0% in 2021).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Tietoevry upgrades its full-year growth outlook for 2022 on 22 July 2022

Following strong organic¹⁾ growth of 4.6% in the first half of 2022 and anticipated revenue development in the second half, Tietoevry upgrades its growth outlook for the year. The company estimates its full-year organic¹⁾ growth to be 3% to 5% (previously 2% to 4%). Profitability outlook for 2022 remains unchanged.

Revised outlook for 2022:

Tietoevry expects its organic¹⁾ growth to be 3% to 5% (revenue in 2021: EUR 2 823.4 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.1–13.6% (13.0% in 2021).

¹⁾ Adjusted for currency effects, acquisitions and divestments.
²⁾ Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Outlook published on 5 May 2022

Tietoevry expects its organic¹⁾ growth to be 2% to 4% (revenue in 2021: EUR 2 823.4 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.1–13.6% (13.0% in 2021).

1) Adjusted for currency effects, acquisitions and divestments.
2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Outlook published on 17 February 2022

Tietoevry expects its organic¹⁾ growth to be 2% to 4% (revenue in 2021: EUR 2 823.4 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA) to be 13.1–13.6% (13.0% in 2021).

1) Adjusted for currency effects, acquisitions and divestments.
2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability.

Outlook published on 26 October 2021

Tietoevry expects its organic¹⁾ growth to be -1% to +2%²⁾ (revenue in 2020: EUR 2 786.4 million). The company estimates its full-year adjusted operating margin (adjusted EBITA)³⁾ to increase to 13–14% (12.7% in 2020).

^{1) Adjusted for currency effects, acquisitions and divestments
2) High dependency on the Covid-19 pandemic development. Assuming normal business environment from the third quarter of 2021.
3) Adjusted EBITA is fully comparable with the previous definition of adjusted EBIT. According to both definitions, amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, impairment charges and other items affecting comparability are excluded – whereas amortization of other intangible assets is included.}

Outlook published on 20 July 2021

Tietoevry expects its organic¹⁾ growth to be -1% to +2%²⁾ (revenue in 2020: EUR 2 786.4 million). The company estimates its full-year adjusted operating margin (adjusted EBITA)³⁾ to increase to 13–14% (12.7% in 2020).

^{1) Adjusted for currency effects, acquisitions and divestments
2) High dependency on the Covid-19 pandemic development. Assuming normal business environment from the third quarter of 2021.
3) Adjusted EBITA is fully comparable with the previous definition of adjusted EBIT. According to both definitions, amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, impairment charges and other items affecting comparability are excluded – whereas amortization of other intangible assets is included.}

Outlook published on 29 April 2021

Tietoevry expects its organic¹⁾ growth to be -1% to +2%²⁾ (revenue in 2020: EUR 2 786.4 million). The company estimates its full-year adjusted operating margin (adjusted EBITA)³⁾ to increase to 13–14% (12.7% in 2020).

^{1) Adjusted for currency effects, acquisitions and divestments
2) High dependency on the Covid-19 pandemic development. Assuming normal business environment from the third quarter of 2021.
3) Adjusted EBITA is fully comparable with the previous definition of adjusted EBIT. According to both definitions, amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, impairment charges and other items affecting comparability are excluded – whereas amortization of other intangible assets is included.}

Outlook published on 17 February 2021

Tietoevry expects its organic¹⁾ growth to be -1% to +2%²⁾ (revenue in 2020: EUR 2 786.4 million). The company estimates its full-year adjusted operating margin (adjusted EBITA)³⁾ to increase to 13–14% (12.7% in 2020).

^{1) Adjusted for currency effects, acquisitions and divestments
2) High dependency on the Covid-19 pandemic development. Assuming normal business environment from the third quarter of 2021.
3) Adjusted EBITA is fully comparable with the previous definition of adjusted EBIT. According to both definitions, amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, impairment charges and other items affecting comparability are excluded – whereas amortization of other intangible assets is included.}

Outlook published on 27 October 2020

Tietoevry expects its comparable full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year's level (Tieto's and EVRY's adjusted operating profit combined amounted to a total of EUR 341.7 million in 2019).

¹⁾Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

Tietoevry restores its annual guidance for 2020 on 20 October

On 27 March 2020, Tietoevry withdrew its guidance for 2020 due to uncertainties related to the Covid-19 pandemic. As visibility to the full-year profitability has improved, the company now restores its annual guidance.

Full-year outlook for 2020
Tietoevry expects its comparable full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year's level (Tieto's and EVRY's adjusted operating profit combined amounted to a total of EUR 341.7 million in 2019).

¹⁾ Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

Full year outlook 24 July 2020

Due to the Covid-19 pandemic, the current economic outlook in Tietoevry’s main markets involves significant uncertainties. Given the uncertainties in the market outlook, it is not possible to estimate the potential impact of the pandemic on the company’s profitability. Hence the full-year guidance was withdrawn on 27 March. Further guidance will be issued once visibility to the market outlook for the second half has improved
and significant uncertainties are cleared.

Full-year outlook for 2020 withdrawn on 27 March

Due to the Covid-19 pandemic, the current economic outlook in Tietoevry’s main markets involves significant uncertainties. Given the uncertainties in the market outlook, it is not possible to estimate the potential impact of the pandemic on the company’s profitability. Hence the full-year guidance was withdrawn on 27 March. Further guidance will be issued as soon as visibility to the market outlook has improved and significant uncertainties are cleared.

Outlook published on 14 February 2020

Tietoevry expects its comparable full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year's level (Tieto's and EVRY's adjusted operating profit combined amounted to a total of EUR 343.1 million in 2019).

¹⁾ Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

Outlook published on 24 October  2019

Tieto expects its full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year’s level (EUR 168.0 million in 2018) added by the impact of IFRS 16²⁾ to maintain the comparability after the adoption of the new standard.

¹⁾ Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

²⁾ The company estimates that the adoption of IFRS 16 will have a positive impact on operating profit in 2019. In the first half, the impact on EBIT was EUR 2.0 million. Comparative periods are not restated. More information on the adoption of the standard can be found in the Accounting Policies in the tables section

Outlook published on 19 July  2019

 Tieto expects its full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year’s level (EUR 168.0 million in 2018) added by the impact of IFRS 16²⁾ to maintain the comparability after the adoption of the new standard.

¹⁾ Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

²⁾ The company estimates that the adoption of IFRS 16 will have a positive impact on operating profit in 2019. In the first half, the impact on EBIT was EUR 2.0 million. Comparative periods are not restated. More information on the adoption of the standard can be found in the Accounting Policies in the tables section

Outlook published on 25 April 2019

Tieto expects its full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year’s level (EUR 168.0 million in 2018) added by the impact of IFRS 16²⁾ to maintain the comparability after the adoption of the new standard. 

 ¹⁾ Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

²⁾ The company estimates that the adoption of IFRS 16 will have a positive impact on operating profit in 2019. In the first quarter, the impact was EUR 0.9 million. Comparative periods are not restated. More information on the adoption of the standard can be found in the Accounting policies in the tables section.

Outlook published on 6 February 2019

Tieto expects its full-year adjusted¹⁾ operating profit (EBIT) to increase from the previous year’s level (EUR 168.0 million²⁾ in 2018). The definition of adjusted operating profit has been revised to improve comparability of operating profit also in light of the company’s acquisitions.

 ¹⁾ adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability

²⁾ not restated for IFRS 16

Outlook published on
24 October 2018

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 161.4 million in 2017).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on
20 July 2018

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 161.4 million²⁾ in 2017).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

²⁾ revised according to IFRS 15 restatement

Outlook published on
26 April 2018

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 161.4 million²⁾ in 2017).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

²⁾ revised according to IFRS 15 restatement

Outlook published on 6 February 2018

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 161.5 million²⁾ in 2017).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

²⁾ subject to revision according to IFRS 15 restatement

Outlook published on 24 October 2017

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 152.2 million in 2016).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 21
July 2017

Tieto expects its adjusted¹⁾ full-year operating profit (EBIT) to increase from the previous year’s level (EUR 152.2 million in 2016).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 27 April 2017

Tieto expects its adjusted¹⁾ full-year operating profit (EBIT) to increase from the previous year’s level (EUR 152.2 million in 2016).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 2 February 2017

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 152.2 million in 2016).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 25 October 2016

Tieto expects its adjusted¹⁾  full-year operating profit (EBIT) to increase from the previous year’s level (EUR 150.8 million in 2015).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 22
July 2016

Tieto expects its adjusted¹⁾ full-year operating profit (EBIT) to increase from the previous year’s level (EUR 150.8 million in 2015).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 26 April 2016

Tieto expects its adjusted¹⁾ full-year operating profit (EBIT) to increase from the previous year’s level (EUR 150.8 million in 2015).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other items

Outlook published on 4 February 2016

Tieto expects its adjusted¹⁾ full-year operating profit (EBIT) to increase from the previous year’s level (EUR 150.8 million in 2015).

¹⁾ adjusted for restructuring costs, capital gains/losses, goodwill impairment charges and other one-off items

Outlook published on 22 October 2015

Outlook published on 28 April 2015

Outlook published on 5 February 2015