Tieto : Disappointing Q4 performance and surprising announcement of 2022 targets
>Q4 organic growth was disappointing - Yesterday before trading, Tieto reported Q4 2018 revenues of € 422 m, up 3.0% y-o-y, and -1.5% below the consensus expectations (€ 428m, 4.5% y-o-y). Organic growth reached +3.0% y-o-y, down on 9M 2018 (9M: +5.0% y-o-y on an organic basis). IT services posted a broadly disappointing performance at 2.0% y-o-y on an organic basis marking a deceleration vs Q3 2018 (+4.1% y-o-y organic). In detail, the industry solutions business uni...Tieto is an IT services company in the Nordics providing full lifecycle IT services. The reportable operating segments in service line dimension are Managed Services, which is an IT infrastructure and cloud provider that provides enterprise platform services and end user solutions; Consulting and System Integration, which provides consulting and system integration services, application management and transformation consulting; Industry Products, which provides industry-specific software products and productized solutions; and Product Development Services, which provides services in the field of communications and embedded technologies for a global customer base.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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