contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


spin-off-setbacks-but-the-stock-has-overreacted

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Joni Grönqvist

Tietoevry operates in the IT sector. The company offers a range of software and cloud-based solutions, with the greatest specialist expertise in SaaS solutions. Competence is found in business processes, application services, infrastructure solutions, and front-end solutions. Customers are found in several markets on a global level. The company was formed in 2019 through a merger of Tieto and EVRY. The headquarters are located in Helsinki.

Napkin math shows that this will be billed at a commendable hourly rate of €114.3 with the estimated budget and duration. That’s not how it’s actually distributed, but we’re talking about an average of 25 full-time employees. Sounds really good for Tieto. It’s also interesting to consider how the deal came about in such a highly competitive market situation, where prices for public sector projects have been severely driven down elsewhere. Do listed companies have more pricing power, or is Tieto’s combined Finnishness and size still a significant advantage?

News Powered by Cision              Tieto Tech Consulting valittiin Traficomin laadunvarmistus- ja...    Liikenne- ja viestintävirasto Traficom on valinnut Tiedon Tech Consulting -yksikön (aiemmin                             The Finnish Transport and Communications Agency Traficom has selected Tieto’s Tech Consulting unit (formerly Tietoevry Create) as a provider of quality assurance and testing services based on an extensive tender process during the autumn. The procurement is for a comprehensive service, where Tieto Tech Consulting is responsible for providing the services throughout the entire software development and maintenance lifecycle. The procurement consists of two phases: an implementation project and a continuous service. The contract period is five years, and it can be extended by two one-year option periods. The estimated value of the procurement for the entire contract period is approximately 24 million euros, and its scope is estimated at 28,000 person-days. Tieto received the highest quality scores in the tender. The service covers, among other things, testing services, quality assurance development, and performance testing. The quality assurance and testing services primarily target systems implemented by Traficom itself. Test automation will be widely utilized, and the goal is at least 30% cost savings during the contract period. The service scales flexibly according to Traficom’s needs. Tieto Tech Consulting offers its clients agile and scalable digital development services that support business renewal and growth. Traficom’s procurement strengthens Tieto’s position as a reliable technology partner in the public sector.

This time, Tieto seems to have received a reasonable price for the acquisition. My confidence improved enough that I still believe in a dividend of about one euro.

If Tieto announces in a press release (not a stock exchange release) that it has sold a company with a turnover of NOK 1,056 (less than 90 euros) in the previous 12 months, then why would an analyst need to care? And even if we assume that Tieto has failed in this matter too and means 1,056 million kroner, it is still only less than 90 million euros. As Tieto generates 1.86 billion in turnover annually, this barely affects it. The impact is so small that even Inderes doesn’t bother to show that press release on its pages.

This is being monitored by #Inders, but no analysis of the deal has been done by Inders ???

Reducing debt means that financing costs will decrease, so O’Sinkko will rise even with that measure + a portion of the sales proceeds purely for shareholders

News Powered by Cision              Tieto myy norjalaisen Bekk Consulting AS:n pääomasijoitusyhtiö Axcelille    Tietoevry Oyj         LEHDISTÖTIEDOTE        1.12.2025   klo 8.00  Tieto (Tietoevry1)) on                             Tieto (Tietoevry1)) has agreed to sell the Norwegian company Bekk Consulting AS (Bekk) to the private equity firm Axcel. The cash-free, debt-free purchase price (enterprise value) for the divested business is NOK 1,700 million (approximately EUR 140 million). Customary adjustments will be made to the purchase price at the time of closing, and the transaction is estimated to be completed during the first quarter of 2026. In line with Tieto’s new capital allocation principles, the company will use the proceeds from the transaction to reduce debt and distribute funds to shareholders. Bekk, which employs approximately 600 people and was acquired by ErgoGroup in 2007, is currently part of Tieto Tech Consulting (formerly Tietoevry Create). However, the company has operated independently under the Bekk brand for several years and has a recognized market position in technology and management consulting in Norway. At the end of the third quarter of 2025, Bekk’s revenue for the preceding 12 months was NOK 1,056 million and its operating profit (EBIT) was NOK 150 million. With its strategic focus, Tieto Tech Consulting has transitioned to a simplified and more integrated operating model. This has been a natural point to assess Bekk’s future, leading to the conclusion that a sale was the best solution.

Tietoevry

Q1 was operationally in line with expectations, and we kept our forecasts unchanged in the big picture. However, the biggest news yesterday was that the Banking business will unexpectedly remain part of the group, which was disappointing. In 2024, we expect the company’s earnings to be at the level of the comparison period, due to a challenging market, but to grow moderately in the coming years. 

<p>Q1 was operationally in line with expectations, and we kept our forecasts unchanged in the big picture. However, the biggest news yesterday was that the Banking business will unexpectedly remain part of the group, which was disappointing. In 2024, we expect the company&rsquo;s earnings to be at the level of the comparison period, due to a challenging market, but to grow moderately in the coming years. Our forecasts are clearly below the company&rsquo;s target levels. With the share price decline, the valuation picture has become very attractive from several perspectives (2024e P/E 11x, adj. P/E 8x, DCF EUR 28, SOTP EUR 26 and expected return ~20%).</p>

	2023	24e	25e
Revenue	2,851.4	2,893.8	2,977.1
growth-%	-2.6 %	1.5 %	2.9 %
EBIT (adj.)	358.7	364.2	383.6
EBIT-% (adj.)	12.6 %	12.6 %	12.9 %
EPS (adj.)	2.14	2.09	2.28
Dividend	1.47	1.50	1.55
Dividend %	6.8 %	8.2 %	8.5 %
P/E (adj.)	10.1	8.7	8.0
EV/EBITDA	8.6	6.9	6.6

Spin-off setbacks, but the stock has overreacted

Key Estimate Figures2024-04-25

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